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Salesforce, Inc. 8-K Report, Financial Results (Feb 25, 2020)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 25, 2020
Period End
February 25, 2020
Security
CRM
In the record · 2016–202610-K1110-Q328-K144

CRM filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 144 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Aug ’18Aug ’18
  2. Material agreement8-K · Dec ’20Dec ’20
  3. Restructuring8-K · Jan ’23Jan ’23
  4. Leadership change8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed February 25, 2020. Cited figures are marked; the original filing is the authoritative source.

Salesforce, Inc. (CRM) filed an 8-K on February 25, 2020, primarily to announce two key events: its financial results for the fiscal fourth quarter and full year ended January 31, 2020, and a significant acquisition.

The company's press release detailing these results is incorporated by reference. Investors should note that the press release provides guidance for fiscal year 2021, which is a crucial indicator of future performance and growth expectations. The most impactful news for investors in this filing is the agreement to acquire Vlocity, Inc. for approximately $1.33 billiona in cash.

Vlocity specializes in industry-specific cloud software built on the Salesforce platform. This strategic move signals Salesforce's intent to deepen its industry vertical offerings, a key growth driver. The acquisition is anticipated to close in the second quarter of fiscal 2021 and its financial impact is already factored into the company's FY21 guidance.

02—Key points

Key Highlights

  1. Salesforce announced its financial results for Q4 and the full fiscal year 2020, ending January 31, 2020.
  2. The company entered into an agreement to acquire Vlocity, Inc. for approximately $1.33 billion in cash.
  3. Vlocity is a provider of industry-specific cloud and mobile software built on the Salesforce platform.
  4. The acquisition is expected to close in the second quarter of fiscal year 2021, subject to customary conditions.
  5. The financial impact of the Vlocity acquisition is incorporated into Salesforce's full fiscal year 2021 guidance for revenue, non-GAAP EPS, and operating cash flow.
  6. The press release containing the financial results and FY21 guidance is attached as Exhibit 99.1.
  7. Information provided is not deemed 'filed' for certain regulatory purposes.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    This 8-K filing serves two primary purposes: to announce Salesforce's financial results for the fiscal fourth quarter and full year ended January 31, 2020, and to disclose the definitive agreement to acquire Vlocity, Inc.

  2. What is Vlocity and why is Salesforce acquiring it?

    Vlocity is a leading provider of industry-specific cloud and mobile software that is natively built on the Salesforce platform. Salesforce is acquiring Vlocity to strengthen its own industry-specific cloud solutions, enabling deeper penetration and tailored offerings within various verticals.

  3. What is the financial impact and expected closing date of the Vlocity acquisition?

    Salesforce will acquire Vlocity for approximately $1.33 billion in cash, plus the assumption of outstanding unvested equity awards. The acquisition is expected to close during the second quarter of fiscal year 2021. The financial impact of this acquisition is already included in Salesforce's provided guidance for FY21.

  4. Where can I find the detailed financial results and future guidance?

    The detailed financial results for the fiscal quarter and year ended January 31, 2020, along with the guidance for fiscal year 2021, are provided in the press release dated February 25, 2020, which is attached as Exhibit 99.1 to this 8-K filing.

04—Continue

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