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CLAIM #17033 · Salesforce.com Inc (CRM) · 2023Q1 earnings call · May 31, 2022 · due Jan 31, 2023

And as Bret mentioned, MuleSoft's pipeline remains strong, and we still anticipate seeing the benefits from these changes in the back half of fiscal '23.

Amy Weaver · CFO

PENDING
graded after results covering Jan 31, 2023 are reported

How to check this claim

Look at: MuleSoft revenue growth rate (year-over-year), reported quarterly

It came true if: MuleSoft revenue growth accelerates above the Q1 FY23 rate of 9% year-over-year in Q3 or Q4 FY23

Where: Company segment/product revenue commentary (10-Q/10-K or earnings call remarks on MuleSoft performance)

In context

customers spending more than $100,000 annually, grew 45% year-over-year. Our industry's products remain in high demand and are providing out-of-the-box solutions to customers with specific needs. We saw an industry's product included in 7 out of our top 10 deals this quarter. And from a geographic perspective, EMEA performance was strong with particular strength in both the UK and France. Now to provide an update on MuleSoft. Total revenue increased 9% year-over-year against a strong prior year comparison, driven by lower-than-expected new business as we work through the go-to-market organizational changes we discussed on the last call. As a reminder, on average, 50% of MuleSoft's total contract value is recognized in period, resulting in more quarterly volatility than our core products. And as Bret mentioned, MuleSoft's pipeline remains strong, and we still anticipate seeing the benefits from these changes in the back half of fiscal '23. Total company revenue attrition remains at record lows and in Q1, again, between 7% to 7.5%. And as Marc mentioned, our remaining performance obligation, representing all future revenue under contract ended Q1 at approximately $42 billion, up 20% year-over-year. Current remaining performance obligation, or CRPO, was approximately $21.5 billion, up 21% year-over-year and 24% in constant currency. Slack represented approximately 5% -- or 5 points of that growth, in line with our guidance. This strong RPO performance at our scale reflects the relevance of our product portfolio and strategic relationships with our customers. Turning to operating margin for the quarter. For Q1, non-GAAP operating margin was 17.6%. Q1 GAAP EPS was $0.03 and non-GAAP EPS was $0.98. Mark-to-market accounting as t

Verify independently

SEC filings for CRM · Claim quote is verbatim from the 2023Q1 earnings call.