How did Salesforce's operating expenses trend in Q4 2025 compared to previous quarters?

Salesforce's operating expenses in Q4 2025 showed an increase of 8% to $49.9 million compared to the previous quarter, Q3 2025. This trend was primarily driven by higher reimbursement, general, and administrative costs, which were primarily driven by technology investments.

1. **Comparison with Q3 2025**: Operating expenses in Q4 2025 increased by 8% to $49.9 million, up from the previous quarter's $46.4 million.
2. **Comparison with Q2 2025**: The increase in Q4 2025 was more significant when compared to the previous quarter, Q2 2025, where operating expenses were $42.9 million.
3. **Comparison with Q1 2025**: Q4 2025's operating expenses were also higher than those in Q1 2025, which stood at $45.4 million.
4. **Comparison with FY2024**: The FY2024 annual report indicates that operating expenses for the full year were $155 million, which is less than the Q4 2025 figure, suggesting that the increase is primarily due to one-off or quarterly expenses rather than a sustained annual increase.

The increase in operating expenses reflects Salesforce's ongoing investments in technology and order processes, as well as the strategic initiatives aimed at enhancing sales efficiency and data-driven decision-making.