Guidance: Robin Washington: This brings our updated FY 2027 guidance for revenue to $46.1 billion-$46.4 billion, resulting in subscription and support growth of slightly above 12% year-over-year and slightly under 12% in constant currency.
Demand and orders: Marc Benioff: We are told customers would pay less for our products, but what Miguel was about to tell you is they are upgrading, and A1E and A4X bookings, they more than doubled quarter over quarter.
Margins: Robin Washington: We're holding our non-GAAP operating margin guidance at approximately 34.3%, and we're updating our GAAP operating margin guidance to approximately 20.1%.
Analyst Q&A
Analyst Gabriela Borges asked: My question is a little bit on the economic value to Salesforce from these different types of cohorts. I know you're still figuring out monetization on headless. Do you think in steady state, you'll be able to capture the same type of ACV from customers agnostic of whether they do Agentforce or whether they do some sort of headless configuration? Management Robin Washington answered: So they're going to get innovation in the moment. That is an early stage for us relative to our installed base or our opportunity to continue to upgrade our customers to those premium editions that gives them instantaneous access to this innovation is an amazing future opportunity for us. We feel really comfortable with the monetization strategy that we have, and most importantly, the flexibility that we are giving our customers that allows us to capture that.
