Analyst(s): Futurum Research
Publication Date: December 5, 2025
Salesforce’s Q3 FY 2026 results underscore accelerating AI agent adoption, deeper multi-cloud penetration, and a strengthening data foundation. The setup points to improving demand capture into 2H FY 2026 and early FY 2027 as pricing, packaging, and GTM execution begin to scale.
What is Covered in this Article:
- Salesforce’s Q3 FY 2026 financial results
- Agentforce adoption and consumption flywheel
- Data foundation and Informatica integration
- Pricing, AELA traction, and GTM capacity
- Guidance and Final Thoughts
The News: Salesforce (NYSE: CRM) reported Q3 FY 2026 revenue of $10.3 billion, up 9% year over year (YoY), and at par with the Wall Street consensus of $10.3 billion. Subscription and support revenue was $9.7 billion, up 10% YoY, while professional services and other revenue was $0.5 billion, down 5.7% YoY. Non-GAAP operating margin was 35.5%, up from 33.1% in Q3 FY 2025. Non-GAAP net income was $3.1 billion, up from $2.3 billion in the year-ago period. Non-GAAP diluted earnings per share (EPS) was $3.25, up 34.9% YoY.
“Our Agentforce and Data 360 products are the momentum drivers, hitting nearly $1.4 billion in ARR—an explosive 114% year-over-year gain,” said Marc Benioff, Chair and CEO, Salesforce. “We now have over 9,500 paid Agentforce deals and 3.2 trillion tokens processed, underscoring our leadership in building the Agentic Enterprise and driving real outcomes.”
Salesforce Q3 FY 2026: AI Agents, Data 360 Lift Bookings and FY26 Outlook
Analyst Take: Salesforce’s Q3 FY 2026 shows a clear shift from AI experimentation to early-scale deployment in core workflows, with Agentforce acting as a cross-portfolio catalyst. The company’s data-first approach—anchored by Data 360, MuleSoft, and the newly added Informatica—addresses the “enterprise context” gap limiting agent reliability. Pricing and packaging innovations, including Agentic Enterprise License Agreements (AELAs) and seat-based SKUs, are removing friction, while GTM capacity ramps and forward-deployed engineering accelerate adoption. With current remaining performance obligation (cRPO) growth, net new average order value (AOV) outpacing overall AOV, and guidance signaling reacceleration in 12–18 months, Salesforce enters FY 2026’s back half with improving visibility.
Agentforce Adoption and the Consumption Flywheel
Management highlighted that more than 70% of top 100 wins included five or more clouds, indicating multi-cloud depth as Agentforce scales across functions. Agentforce accounts in production grew 70% quarter over quarter (q/q), and over 50% of Agentforce and Data 360 bookings came from existing customers expanding usage, signaling strong early value realization. Agentforce ARR grew 330% YoY, with combined Agentforce and Data 360 ARR reaching nearly $1.4 billion, up 114% YoY, and total paid Agentforce deals surpassing 9,500. Salesforce processed 3.2 trillion tokens through its LLM gateway, reflecting rising real-world agent activity. Slack and core clouds saw a halo effect as agent capabilities augment deterministic workflows in sales and service. These dynamics suggest AI agents are increasingly tied to multi-cloud expansion and durable account growth.
Data Foundation, Informatica, and Enterprise Context
Salesforce’s “data foundation” now integrates Informatica’s catalog, governance, and MDM with Data 360 and MuleSoft to solve the last-mile enterprise context problem for agents. In Q3, Data 360 ingested 32 trillion records, up 119% YoY, including 15 trillion via Zero Copy, up 341% YoY, with 390% YoY growth in unstructured data processed—key to grounding agent reasoning. Federation capabilities, such as linking Data 360 to IBM mainframe data, aim to reduce hallucinations and improve accuracy for agentic workflows. This approach unifies deterministic apps and workflows with probabilistic agent execution, aligning with customers’ need for compliance, auditability, and performance at scale. Management also emphasized day-two operations—evaluation, auditing, compliance, and local residency—as critical differentiators. This integration strengthens Salesforce’s ability to deliver reliable AI outcomes across complex enterprise stacks.
Pricing, Packaging, and GTM Capacity to Capture Demand
Pricing frictions eased as Salesforce expanded options: premium SKUs such as Agentforce One and Agentforce for apps doubled quarter-over-quarter, and seat-based Agentforce SKUs gained traction for predictability. The company executed 16 AELAs in Q3 and has roughly 100 in the pipeline, offering transformation-aligned flat-fee constructs for industry-specific agent adoption. Salesforce increased sales capacity by 20% and expects to finish the year with 15% more enabled (ramped) capacity, supporting elevated pipeline conversion. Q3 was one of the company’s strongest pipeline-generation quarters, with healthy double-digit growth and accelerating enterprise segment performance. Notably, net new AOV growth outpaced overall AOV growth for the first time since FY 2022, a foundation for revenue reacceleration. These levers indicate Salesforce is systematically aligning monetization and capacity with AI demand waves.
Guidance and Final Thoughts
For Q4 FY 2026, Salesforce guided revenue to $11.13–$11.23 billion, non-GAAP EPS to $3.02–$3.04, and cRPO growth to approximately 15% nominal (approximately 13% constant currency), including roughly 3–4 percentage points from Informatica. FY 2026 revenue guidance is $41.45–$41.55 billion (approximately 9% constant currency), with non-GAAP operating margin of 34.1% and operating cash flow growth of approximately 13%–14%. Management reiterated an outlook to reaccelerate revenue over the next 12–18 months as Agentforce, Data 360, and Informatica scale across the base. While marketing and commerce remain softer and APAC is more constrained, the combination of multi-cloud depth, data foundation strength, and flexible pricing models positions Salesforce for durable AI-led expansion. Overall, execution on agent reliability, enterprise context, and go-to-market scaling will be the primary determinants of momentum into FY 2027.
See the full press release on Salesforce’s Q3 FY 2026 financial results on the company website.
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Disclosure: Futurum is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of Futurum as a whole.
Other insights from Futurum:
Salesforce Q2 FY 2026 Earnings Show EPS Beat, CRPO Growth, Margin Expansion
Are CIOs Ready to Bet Their Agentic Operating Model on Salesforce?
Salesforce Signs Agreement to Acquire Data Management Vendor Informatica for $8 Billion
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