Photo Credit: City of Indianapolis | Mayor’s Office /Flickr.com
 

Salesforce (NYSE: CRM) recently announced mixed third quarter results. But its outlook was impressive. As Salesforce continues to expand its AI offerings, it announced plans to cross $60 billion in revenue by 2030.
 

Salesforce’s Financials

Salesforce’s revenues for the third quarter grew 9% to $10.26 billion marginally shy of analyst estimates of $10.27 billion. Adjusted earnings of $3.25 per share were significantly better than the market’s forecast of $2.86 per share for the quarter.

By segment, Subscription and support revenues grew 10% to $9.7 billion. Its current remaining performance obligations grew 12% to $59.5 billion.

For the fourth quarter, Salesforce forecast revenues of $11.13-$11.23 billion with an EPS of $3.02-$3.04. The market was looking for revenues of $10.9 billion and an EPS of $3.04.
 

Salesforce’s AI Acquisitions

Salesforce continues to see significant impact from AI. Its AI chatbot offering Agentforce is operating at annualized revenue of more than $500 million. Salesforce said it has more than 9,500 paid deals for the solution as of date compared with 6,000 as of September. As part of its AI focus, Salesforce announced the acquisitions of Regrello, Bluebirds, and Waii.
 

Regrello Acquisition

Salesforce announced plans to acquire Regrello, an AI-native solution that automates business processes, for an undisclosed sum. San Francisco-based Regrello was founded by Aman Naimat in 2020 with a mission to transform supply chain and manufacturing operations. The company saw that traditional supply chains rely on outdated methods like email and legacy ERP solutions that operate in silos. Regrello has built intelligent vertical solutions to streamline processes, centralize data, and enhance collaboration among internal and external teams. Salesforce plans to integrate Regrello’s technology with Agentforce and Slack to continue to offer improved agentic automation capabilities to its customers. Prior to the acquisition, Regrello was privately funded and did not disclose its funding and financial performance. Its investors included Andreessen Horowitz, Tiger Global, Dell and Mubadla.
 

Waii Acquisition

Earlier in the quarter, Salesforce had acquired Waii, a leading enterprise-grade natural language-to-SQL platform, for an undisclosed sum.  San Francisco-based Waii was founded in 2023 by Gunther Hagleitner and Wangda Tan. Waii is best known for its API-first text-to-SQL engine that is powered by a sophisticated metadata knowledge graph that can allows users to ask questions in plain English and returns accurate, context-aware SQL queries that can run on a variety of databases.

As enterprises get access to more data, they need better tools at deciphering the information hidden in these data sources. Waii’s dynamic metadata knowledge graph maps an enterprise’s data landscape including database schemas, relationships between tables, columns, business metrics, and governance rules. This contextual understanding allows its core engine to translate natural language questions into contextual SQL queries.

Salesforce plans to integrate Waii’s capabilities into Agentforce and Tableau so that its customers can access more intuitive ways to explore and manage data. Prior to the acquisition, Waii was also privately held. It did not disclose its funding and financial details.
 

Bluebirds Acquisition

Salesforce recently also announced the acquisition of Bluebirds, an AI-powered prospecting platform for an undisclosed sum. Bluebirds was founded in 2022 by Rohan Punamiaand Kunal Punera. The founders wanted to build an AI-powered solution that could help sales teams find warm leads faster by reducing manual work pertaining to identifying buying signals and delivering personalized outreach. Its agentic technology streamlines top-of-funnel prospecting and helps sales teams connect with the right leads faster.

Salesforce plans integrate these capabilities of Bluebirds into Sales Cloud and Agentforce so that customers can automate their pre-sales work and drive productivity. Prior to be being acquired by Salesforce, Bluebirds was also privately held and did not disclose its financials or funding details.

Salesforce’s acquisitions and continued investments in AI are translating to higher growth as well. The company expects to deliver organic year-over-year revenue growth rate of more than 10% in the 2026 through 2030 fiscal years. It is targeting $60 billion in revenues by 2030, ahead of the market’s estimates of $58.4 billion. Salesforce is counting on Agentforce to drive this revenue growth.

Salesforce has not had a strong year so far as the market has been concerned that improving AI capabilities will shrink the requirement for Salesforce’s products. The stock has fallen nearly 30% in the year compared with Nasdaq’s 21% growth. Its stock is trading at $259.53 with a market capitalization of $248.5 billion. It touched a 52-week high of $367 last year, and has recovered from the year low of $221.96 that it had fallen to last month.

More By This Author:

Cloud Stocks: Nvidia Believes The AI Supercycle Is Just Beginning
Cloud Stocks: Analysis Of Palo Alto Networks’ Chronosphere Acquisition
Meta Pours Funds Into AI Capacity Build-Out