NOW
$251.96
Servicenow
($4.85)
(1.89%)
Earnings Details
2nd Quarter June 2019
Wednesday, July 24, 2019 4:10:00 PM
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Summary

Servicenow Misses

Servicenow (NOW) reported 2nd Quarter June 2019 earnings of $0.65 per share on revenue of $833.9 million. The consensus earnings estimate was $0.63 per share on revenue of $830.9 million. The Earnings Whisper number was $0.66 per share. Revenue grew 32.1% on a year-over-year basis.

ServiceNow Inc is a provider of cloud-based solutions that define, structure, manage and automate services across the enterprise. Its services include a suite of applications built on proprietary platform.

Results
Reported Earnings
$0.65
Earnings Whisper
$0.66
Consensus Estimate
$0.63
Reported Revenue
$833.9 Mil
Revenue Estimate
$830.9 Mil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

ServiceNow Reports Second Quarter 2019 Financial Results

  • Subscription revenues of $781 million in Q2 2019, representing 33% year-over-year growth
  • 39 transactions over $1 million in net new annual contract value in Q2 2019
  • 766 total customers with over $1 million in annual contract value, representing 33% year-over-year growth

SANTA CLARA, Calif.--(BUSINESS WIRE)--ServiceNow (NYSE: NOW) today announced financial results for its second quarter ended June 30, 2019, with subscription revenues of $781 million in Q2 2019, representing 33% year-over-year growth.

ServiceNow, the leading digital workflow company making work, work better for people, serves almost 75% of Fortune 500 companies. During the quarter, ServiceNow closed 39 transactions with more than $1 million in net new annual contract value (ACV). The company now has 766 total customers with more than $1 million in ACV, representing 33% year-over-year growth in customers.

“We delivered another strong quarter, continuing our focus on driving customer success and enabling digital transformation as a strategic partner to the world’s largest enterprises,” said John Donahoe, ServiceNow president and chief executive officer. “Technology should make life at work as simple, easy and convenient as it has made our lives at home. That’s what we’re enabling with our customers through the power of our Now Platform, product portfolio and native mobile capabilities.”

“Total remaining performance obligations at the end of June 2019 was $5.4 billion, representing 35% year-over-year growth,” said Michael Scarpelli, ServiceNow chief financial officer. “This strong growth reflects the continued strength of our product portfolio and our focus on developing strategic relationships with our customers. We now have 98 customers with more than $5 million in ACV, representing 72% year-over-year growth in customers.”

Second Quarter 2019 GAAP and Non-GAAP Results:

The following table summarizes our financial results for the second quarter 2019:

 

Second Quarter 2019

GAAP Results

 

Second Quarter 2019 Non-GAAP Results(1)

 

Amount
($ millions)

Year/Year
Growth (%)

 

Amount
($ millions)

Year/Year
Growth (%)

Adjusted
Amount
($ millions)(2)

Adjusted
Year/Year
Growth (%)

Subscription revenues

$781.0

33%

 

 

 

$797.6

36%

Professional services and other revenues

$52.9

16%

 

 

 

$54.4

19%

Total revenues

$833.9

32%

 

 

 

$851.9

35%

 

 

 

 

 

 

 

 

Subscription billings

 

 

 

$816.9

32%

$827.8

34%

Professional services and other billings

 

 

 

$54.1

10%

$55.6

13%

Total billings

 

 

 

$871.0

31%

$883.4

33%

 

 

 

 

 

 

 

 

 

Amount
($ millions)

Margin (%)

 

Amount
($ millions)

Margin (%)

 

 

Subscription gross profit

$645.5

83%

 

$670.2

86%

 

 

Professional services and other gross profit (loss)

($9.8)

(18%)

 

$1.2

2%

 

 

Total gross profit

$635.8

76%

 

$671.4

81%

 

 

Income (loss) from operations

($27.0)

(3%)

 

$153.0

18%

 

 

Net cash provided by operating activities

$243.7

29%

 

 

 

 

 

Free cash flow

 

 

 

$193.8

23%

 

 

 

 

 

 

 

 

 

 

 

Amount
($ millions)

Earnings per
Basic/Diluted
Share ($)

 

Amount
($ millions)

Earnings per
Basic/Diluted
Share ($)

 

 

Net income (loss)

($11.1)

($0.06)

 

$137.5

$0.74 / $0.71

 

 

(1)

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “GAAP to Non-GAAP Reconciliation” for a reconciliation of GAAP to non-GAAP measures.

(2)

Non-GAAP adjusted subscription revenues, professional services and other revenues, total revenues and professional services and other billings are adjusted for constant currency. Non-GAAP adjusted subscription billings and total billings are adjusted for constant currency and constant billings duration. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “GAAP to Non-GAAP Reconciliation” for a reconciliation of GAAP to non-GAAP measures.

Financial Outlook

Our guidance includes GAAP and non-GAAP financial measures.

The following table summarizes our guidance for the third quarter 2019:

 

Third Quarter 2019

GAAP Guidance

 

Third Quarter 2019 Non-GAAP Guidance(1)

 

Amount
($ millions)(2)

Year/Year
Growth (%)

 

Amount
($ millions)(2)

Year/Year
Growth (%)

Adjusted
Amount
($ millions)(3)

Adjusted Year/
Year Growth
(%)

Subscription revenues

$830 - $835

32% - 33%

 

 

 

$836 - $841

33% - 34%

Subscription billings

 

 

 

$848 - $853

26% - 27%

$857 - $862

27% - 28%

 

 

 

 

 

 

 

 

 

 

 

 

 

Margin (%)

 

 

Income from operations

 

 

 

 

23%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount
(millions)

 

 

 

Weighted-average shares used to compute diluted net income per share

 

 

 

195

 

 

 

(1)

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of GAAP to non-GAAP measures.

(2)

Guidance for GAAP subscription revenues and non-GAAP subscription billings is based on foreign exchange rates as of June 30, 2019 for entities reporting in currencies other than U.S. Dollars.

(3)

Non-GAAP adjusted subscription revenues are adjusted for constant currency. Non-GAAP adjusted subscription billings are adjusted for constant currency and constant billings duration. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of GAAP to non-GAAP measures.

The following table summarizes our updated guidance for fiscal year 2019:

 

Full-Year 2019

GAAP Guidance

 

Full-Year 2019 Non-GAAP Guidance(1)

 

Amount
($ millions)(2)

Year/Year
Growth (%)

 

Amount
($ millions)(2)

Year/Year
Growth (%)

Adjusted
Amount
($ millions)(3)

Adjusted
Year/ Year
Growth (%)

Subscription revenues

$3,245 - $3,255

34%

 

 

 

$3,289 - $3,299

36%

Subscription billings

 

 

 

$3,740 - $3,750

30%

$3,804 - $3,814

32%

 

 

 

 

 

 

 

 

 

 

 

 

 

Margin (%)

 

 

Subscription gross profit

 

 

 

 

86%

 

 

Income from operations

 

 

 

 

21%

 

 

Free cash flow

 

 

 

 

28%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount
(millions)

 

 

 

Weighted-average shares used to compute diluted net income per share

 

 

 

194

 

 

 

(1)

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of GAAP to non-GAAP measures.

(2)

GAAP subscription revenues and non-GAAP subscription billings for the future quarters included in our full-year 2019 guidance are based on foreign exchange rates as of June 30, 2019 for entities reporting in currencies other than U.S. Dollars.

(3)

Non-GAAP adjusted subscription revenues are adjusted for constant currency. Non-GAAP adjusted subscription billings are adjusted for constant currency and constant billings duration. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of GAAP to non-GAAP measures.

The following table compares our updated full-year 2019 guidance against our previously issued full-year 2019 guidance dated April 24, 2019:

 

Comparison of Updated Full-Year 2019 Guidance to Previously Issued Guidance(1)

($ millions)

 

Previous Guidance
Midpoint(2)

Currency Impact(3)

Duration Impact(4)

Guidance Change

Current Guidance
Midpoint(5)

GAAP subscription revenues

$3,243

$2

$0

$5

$3,250

 

 

 

 

 

 

Non-GAAP subscription billings(6)

$3,733

$2

$5

$5

$3,745

(1)

Numbers are rounded for presentation purposes.

(2)

Refers to previously issued full-year 2019 guidance dated April 24, 2019.

(3)

GAAP subscription revenues and non-GAAP subscription billings for the future quarters included in our full-year 2019 guidance are based on foreign exchange rates in effect at the end of the current quarter for entities reporting in currencies other than U.S. Dollars. Currency impact represents the sum of (i) the impact of the difference between the actual average rates in the period used to calculate our Q2 2019 actual results and the rates as of March 31, 2019 assumed in our previously issued guidance dated April 24, 2019 plus (ii) the impact of the difference between the exchange rates in effect as of June 30, 2019 assumed in our updated full-year 2019 guidance, and the rates as of March 31, 2019 assumed in our previously issued guidance dated April 24, 2019.

(4)

Represents the impact of billings greater than 12 months in excess of guidance assumptions.

(5)

Represents the updated full-year 2019 guidance presented in the table above.

(6)

We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP measures, and the table entitled “Reconciliation of Non-GAAP Financial Guidance” for a reconciliation of GAAP to non-GAAP measures.

Conference Call Details

The conference call will begin at 2 p.m. Pacific Time (22:00 BST) on July 24, 2019. Interested parties may listen to the call by dialing (877) 824-2843 (passcode: 6382847), or if outside North America, by dialing (647) 689-5665 (passcode: 6382847). Individuals may access the live teleconference from this webcast link:

https://event.on24.com/wcc/r/2019846/2ADE1BEE718F0016DF30AAB494DFBE7C

An audio replay of the conference call and webcast will be available two hours after its completion and will be accessible for 30 days. To hear the replay, interested parties may go to the investor relations section of the ServiceNow website or dial (800) 585-8367 (passcode: 6382847), or if outside North America, by dialing (416) 621-4642 (passcode: 6382847).

Investor Presentation Details

An investor presentation providing additional information and analysis can be found at http://investors.servicenow.com.

Statement Regarding Use of Non-GAAP Financial Measures

We report the following non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

  • Adjusted revenues. We present revenues adjusted for constant currency to provide a framework for assessing how our business performed excluding the effect of foreign currency rate fluctuations. To present this information, current period results for entities reporting in currencies other than U.S. Dollars (USD) are converted into USD at the average exchange rates in effect during the comparison period (for Q2 2018, the average exchange rates in effect for our major currencies were 1 USD to 0.8387 Euros and 1 USD to 0.7350 British Pound Sterling (GBP)), rather than the actual average exchange rates in effect during the current period (for Q2 2019, the average exchange rates in effect for our major currencies were 1 USD to 0.8899 Euros and 1 USD 0.7781 GBP). Similarly, in our guidance, we apply the average exchange rates in effect during the comparison period rather than the exchange rates for the guidance period. We believe the presentation of revenues adjusted for constant currency facilitates the comparison of revenues year-over-year.
  • Billings and Adjusted billings. We believe billings is a useful leading indicator regarding the performance of our business. We define subscription billings, professional services and other billings, and total billings as the applicable revenue plus the applicable change in deferred revenue, unbilled receivables and customer deposits as presented or derived from the statement of cash flows. We adjust billings for constant currency, as described above, and for constant duration by replacing the portion of multi-year billings in excess of twelve months during the current or guidance period with the portion of multi-year billings in excess of twelve months during the comparison period. We believe these adjustments facilitate greater comparability in our billings information year-over-year.
  • Gross profit, Income from operations and Net income. Our non-GAAP presentation of gross profit, income from operations, and net income measures exclude stock-based compensation expense, amortization of debt discount and issuance costs related to our convertible senior notes, loss on early note conversions, amortization of purchased intangibles, legal settlements, business combination and other related costs, and the related income tax effect of these adjustments. We believe the presentation of operating results that exclude these non-cash or non-recurring items provides useful supplemental information to investors and facilitates the analysis of our operating results and comparison of operating results across reporting periods.
  • Free cash flow. Free cash flow is defined as net cash provided by (used in) operating activities plus cash paid for legal settlements and repayments of convertible senior notes attributable to debt discount, reduced by purchases of property and equipment. Free cash flow margin is calculated as free cash flow as a percentage of total revenues. We believe information regarding free cash flow and free cash flow margin provides useful information to investors because it is an indicator of the strength and performance of our business operations.

Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP and non-GAAP results and guidance.

Use of Forward-Looking Statements

This release contains “forward-looking statements” regarding our performance, including but not limited to statements in the section entitled “Financial Outlook.” Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.

Factors that may cause actual results to differ materially from those in any forward-looking statements include: (i) errors, interruptions, delays, or security breaches in or of our service or datacenters, (ii) our ability to grow at our expected rate of growth, including our ability to convert deferred revenue and backlog into revenue, add and retain customers, sell additional subscriptions to existing customers, sell to very large and regulated organizations with complex sales cycles, and enter new geographies and markets, (iii) our ability to continue to release, and gain customer acceptance of, improved versions of our services, (iv) our ability to develop and gain customer acceptance of new products and services, including our platform, (v) our ability to compete successfully against existing and new competitors, and (vi) material changes in the value of foreign currencies relative to the U.S. Dollar.

Further information on these and other factors that could affect our financial results are included in our Form 10-Q that will be filed for the quarter ended June 30, 2019 and in other filings we make with the Securities and Exchange Commission from time to time, including our Form 10-K filed for the year ended December 31, 2018.

We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current financial quarter.

About ServiceNow

ServiceNow (NYSE: NOW) is making the world of work, work better for people. Our cloud-based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. For more information, visit: www.servicenow.com.

© 2019 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.

ServiceNow, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

(unaudited)

 

Three Months Ended

 

Six Months Ended

 

June 30, 2019

 

June 30, 2018

 

June 30, 2019

 

June 30, 2018

Revenues:

 

 

 

 

 

 

 

Subscription

$

780,989

 

 

$

585,282

 

 

$

1,520,975

 

 

$

1,128,607

 

Professional services and other

52,915

 

 

45,774

 

 

101,855

 

 

91,671

 

Total revenues

833,904

 

 

631,056

 

 

1,622,830

 

 

1,220,278

 

Cost of revenues (1):

 

 

 

 

 

 

 

Subscription

135,479

 

 

101,699

 

 

262,068

 

 

197,097

 

Professional services and other

62,668

 

 

51,466

 

 

122,331

 

 

99,541

 

Total cost of revenues

198,147

 

 

153,165

 

 

384,399

 

 

296,638

 

Gross profit

635,757

 

 

477,891

 

 

1,238,431

 

 

923,640

 

Operating expenses (1):

 

 

 

 

 

 

 

Sales and marketing

393,895

 

 

310,869

 

 

755,304

 

 

594,570

 

Research and development

183,420

 

 

127,916

 

 

355,942

 

 

245,184

 

General and administrative

85,442

 

 

71,095

 

 

169,898

 

 

136,158

 

Total operating expenses

662,757

 

 

509,880

 

 

1,281,144

 

 

975,912

 

Loss from operations

(27,000

)

 

(31,989

)

 

(42,713

)

 

(52,272

)

Interest expense

(8,269

)

 

(15,498

)

 

(16,437

)

 

(32,562

)

Interest income and other income (expense), net

18,954

 

 

6,638

 

 

31,379

 

 

36,625

 

Loss before income taxes

(16,315

)

 

(40,849

)

 

(27,771

)

 

(48,209

)

Provision for (benefit from) income taxes

(5,236

)

 

11,897

 

 

(15,147

)

 

(6,085

)

Net loss

$

(11,079

)

 

$

(52,746

)

 

$

(12,624

)

 

$

(42,124

)

Net loss per share - basic and diluted

$

(0.06

)

 

$

(0.30

)

 

$

(0.07

)

 

$

(0.24

)

Weighted-average shares used to compute net loss per share - basic and diluted

186,677,622

 

 

177,343,176

 

 

184,418,903

 

 

176,418,984

 

(1)

Includes stock-based compensation as follows:

 

Three Months Ended

 

Six Months Ended

 

June 30, 2019

 

June 30, 2018

 

June 30, 2019

 

June 30, 2018

Cost of revenues:

 

 

 

 

 

 

 

Subscription

$

19,117

 

 

$

12,538

 

 

$

35,139

 

 

$

23,829

 

Professional services and other

10,951

 

 

8,342

 

 

20,882

 

 

15,903

 

Sales and marketing

69,229

 

 

57,069

 

 

131,359

 

 

109,151

 

Research and development

50,041

 

 

33,780

 

 

93,623

 

 

62,378

 

General and administrative

22,422

 

 

23,831

 

 

48,207

 

 

45,640

 

ServiceNow, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

June 30, 2019

 

December 31, 2018

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

583,581

 

 

$

566,204

 

Short-term investments

1,069,803

 

 

931,718

 

Accounts receivable, net

503,376

 

 

574,810

 

Current portion of deferred commissions

152,045

 

 

139,890

 

Prepaid expenses and other current assets

133,482

 

 

132,071

 

Total current assets

2,442,287

 

 

2,344,693

 

Deferred commissions, less current portion

287,432

 

 

282,490

 

Long-term investments

746,716

 

 

581,856

 

Property and equipment, net (1)

364,007

 

 

347,216

 

Operating lease right-of-use assets (1)

397,950

 

 

 

Intangible assets, net

121,599

 

 

100,582

 

Goodwill

152,472

 

 

148,845

 

Other assets

90,240

 

 

73,458

 

Total assets

$

4,602,703

 

 

$

3,879,140

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

65,711

 

 

$

30,733

 

Accrued expenses and other current liabilities (1)

360,916

 

 

330,246

 

Current portion of deferred revenue

1,752,220

 

 

1,651,594

 

Current portion of operating lease liabilities (1)

46,132

 

 

 

Total current liabilities

2,224,979

 

 

2,012,573

 

Deferred revenue, less current portion

37,159

 

 

38,597

 

Operating lease liabilities, less current portion (1)

382,812

 

 

 

Convertible senior notes, net

678,145

 

 

661,707

 

Other long-term liabilities (1)

18,662

 

 

55,064

 

Stockholders’ equity (1)

1,260,946

 

 

1,111,199

 

Total liabilities and stockholders’ equity

$

4,602,703

 

 

$

3,879,140

 

(1)

We adopted Topic 842 using the modified retrospective method as of January 1, 2019 and elected the transition option that allows us not to restate the comparative periods in our financial statements in the year of adoption.

ServiceNow, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

Three Months Ended

 

Six Months Ended

 

June 30, 2019

 

June 30, 2018

 

June 30, 2019

 

June 30, 2018

Cash flows from operating activities:

 

 

 

 

 

 

 

Net loss

$

(11,079

)

 

$

(52,746

)

 

$

(12,624

)

 

$

(42,124

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

60,328

 

 

35,207

 

 

115,777

 

 

68,618

 

Amortization of deferred commissions

39,974

 

 

33,885

 

 

79,531

 

 

64,304

 

Amortization of debt discount and issuance costs

8,269

 

 

15,498

 

 

16,437

 

 

32,562

 

Stock-based compensation

171,760

 

 

135,560

 

 

329,210

 

 

256,901

 

Deferred income taxes

(1,593

)

 

(6,578

)

 

(3,073

)

 

(30,926

)

Gain on marketable equity securities

 

 

(802

)

 

 

 

(19,257

)

Repayments of convertible senior notes attributable to debt discount

 

 

(78,897

)

 

 

 

(87,557

)

Other

(4,047

)

 

4,098

 

 

(3,323

)

 

(1,707

)

Changes in operating assets and liabilities, net of effect of business combinations:

 

 

 

 

 

 

 

Accounts receivable

(79,751

)

 

(3,562

)

 

71,354

 

 

65,940

 

Deferred commissions

(50,595

)

 

(50,520

)

 

(97,194

)

 

(92,995

)

Prepaid expenses and other assets

5,176

 

 

17,848

 

 

(28,483

)

 

2,040

 

Accounts payable

18,531

 

 

(3,507

)

 

25,093

 

 

(2,632

)

Deferred revenue

38,820

 

 

47,356

 

 

100,190

 

 

131,089

 

Accrued expenses and other liabilities

47,942

 

 

33,056

 

 

11,688

 

 

31,720

 

Net cash provided by operating activities

243,735

 

 

125,896

 

 

604,583

 

 

375,976

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

(49,896

)

 

(52,991

)

 

(97,020

)

 

(88,362

)

Business combinations, net of cash and restricted cash acquired

 

 

(24,940

)

 

 

 

(24,940

)

Purchases of other intangibles

(36,160

)

 

(3,000

)

 

(36,160

)

 

(10,850

)

Purchases of investments

(361,859

)

 

(3,783

)

 

(800,641

)

 

(379,913

)

Sales of investments

1,593

 

 

39,975

 

 

8,169

 

 

39,975

 

Maturities of investments

243,840

 

 

271,051

 

 

500,149

 

 

453,156

 

Realized (losses) gains on derivatives not designated as hedging instruments, net

(35

)

 

 

 

22,113

 

 

 

Net cash (used in) provided by investing activities

(202,517

)

 

226,312

 

 

(403,390

)

 

(10,934

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Repayments of convertible senior notes attributable to principal

 

 

(242,579

)

 

 

 

(271,185

)

Proceeds from employee stock plans

10,207

 

 

8,762

 

 

63,300

 

 

61,419

 

Taxes paid related to net share settlement of equity awards

(108,126

)

 

(68,976

)

 

(247,619

)

 

(154,531

)

Payments on financing obligations

 

 

(288

)

 

 

 

(576

)

Net cash used in financing activities

(97,919

)

 

(303,081

)

 

(184,319

)

 

(364,873

)

Foreign currency effect on cash, cash equivalents and restricted cash

207

 

 

(13,996

)

 

1,286

 

 

(7,505

)

Net (decrease) increase in cash, cash equivalents and restricted cash

(56,494

)

 

35,131

 

 

18,160

 

 

(7,336

)

Cash, cash equivalents and restricted cash at beginning of period

643,192

 

 

685,362

 

 

568,538

 

 

727,829

 

Cash, cash equivalents and restricted cash at end of period

$

586,698

 

 

$

720,493

 

 

$

586,698

 

 

$

720,493

 

ServiceNow, Inc.

GAAP to Non-GAAP Reconciliation

(in thousands, except share and per share data)

(unaudited)

 

Three Months Ended

 

 

 

Six Months Ended

 

 

 

June 30, 2019

 

June 30, 2018

 

Growth
Rates

 

June 30, 2019

 

June 30, 2018

 

Growth
Rates

Subscription revenues:

 

 

 

 

 

 

 

 

 

 

 

GAAP subscription revenues

$

780,989

 

 

$

585,282

 

 

33%

 

$

1,520,975

 

 

$

1,128,607

 

 

35%

Effects of foreign currency rate fluctuations

16,577

 

 

 

 

 

 

37,034

 

 

 

 

 

Non-GAAP adjusted subscription revenues (1)

$

797,566

 

 

 

 

36%

 

$

1,558,009

 

 

 

 

38%

 

 

 

 

 

 

 

 

 

 

 

 

Subscription billings:

 

 

 

 

 

 

 

 

 

 

 

GAAP subscription revenues

$

780,989

 

 

$

585,282

 

 

33%

 

$

1,520,975

 

 

$

1,128,607

 

 

35%

Change in subscription deferred revenue, unbilled receivables and customer deposits

35,915

 

 

31,597

 

 

 

 

105,526

 

 

126,669

 

 

 

Non-GAAP subscription billings

816,904

 

 

616,879

 

 

32%

 

1,626,501

 

 

1,255,276

 

 

30%

Effects of foreign currency rate fluctuations

17,014

 

 

 

 

 

 

38,687

 

 

 

 

 

Effects of fluctuations in billings duration

(6,115

)

 

 

 

 

 

12,311

 

 

 

 

 

Non-GAAP adjusted subscription billings (2)

$

827,803

 

 

 

 

34%

 

$

1,677,499

 

 

 

 

34%

 

 

 

 

 

 

 

 

 

 

 

 

Professional services and other revenues:

 

 

 

 

 

 

 

 

 

 

 

GAAP professional services and other revenues

$

52,915

 

 

$

45,774

 

 

16%

 

$

101,855

 

 

$

91,671

 

 

11%

Effects of foreign currency rate fluctuations

1,464

 

 

 

 

 

 

3,354

 

 

 

 

 

Non-GAAP adjusted professional service and other revenues (1)

$

54,379

 

 

 

 

19%

 

$

105,209

 

 

 

 

15%

 

 

 

 

 

 

 

 

 

 

 

 

Professional services and other billings:

 

 

 

 

 

 

 

 

 

 

 

GAAP professional services and other revenues

$

52,915

 

 

$

45,774

 

 

16%

 

$

101,855

 

 

$

91,671

 

 

11%

Change in professional services and other deferred revenue

1,196

 

 

3,213

 

 

 

 

190

 

 

8,305

 

 

 

Non-GAAP professional services and other billings

54,111

 

 

48,987

 

 

10%

 

102,045

 

 

99,976

 

 

2%

Effects of foreign currency rate fluctuations

1,464

 

 

 

 

 

 

3,354

 

 

 

 

 

Non-GAAP adjusted professional services and other billings (2)

$

55,575

 

 

 

 

13%

 

$

105,399

 

 

 

 

5%

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues:

 

 

 

 

 

 

 

 

 

 

 

GAAP total revenues

$

833,904

 

 

$

631,056

 

 

32%

 

$

1,622,830

 

 

$

1,220,278

 

 

33%

Effects of foreign currency rate fluctuations

18,041

 

 

 

 

 

 

40,388

 

 

 

 

 

Non-GAAP adjusted total revenues (1)

$

851,945

 

 

 

 

35%

 

$

1,663,218

 

 

 

 

36%

 

 

 

 

 

 

 

 

 

 

 

 

Total billings:

 

 

 

 

 

 

 

 

 

 

 

GAAP total revenues

$

833,904

 

 

$

631,056

 

 

32%

 

$

1,622,830

 

 

$

1,220,278

 

 

33%

Change in total deferred revenue, unbilled receivables and customer deposits

37,111

 

 

34,810

 

 

 

 

105,716

 

 

134,974

 

 

 

Non-GAAP total billings

871,015

 

 

665,866

 

 

31%

 

1,728,546

 

 

1,355,252

 

 

28%

Effects of foreign currency rate fluctuations

18,478

 

 

 

 

 

 

42,041

 

 

 

 

 

Effects of fluctuations in billings duration

(6,115

)

 

 

 

 

 

12,311

 

 

 

 

 

Non-GAAP adjusted total billings (2)

$

883,378

 

 

 

 

33%

 

$

1,782,898

 

 

 

 

32%

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues:

 

 

 

 

 

 

 

 

 

 

 

GAAP subscription cost of revenues

$

135,479

 

 

$

101,699

 

 

 

 

$

262,068

 

 

$

197,097

 

 

 

Stock-based compensation

(19,117

)

 

(12,538

)

 

 

 

(35,139

)

 

(23,829

)

 

 

Amortization of purchased intangibles

(5,614

)

 

(4,637

)

 

 

 

(10,314

)

 

(9,051

)

 

 

Non-GAAP subscription cost of revenues

$

110,748

 

 

$

84,524

 

 

 

 

$

216,615

 

 

$

164,217

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP professional services and other cost of revenues

$

62,668

 

 

$

51,466

 

 

 

 

$

122,331

 

 

$

99,541

 

 

 

Stock-based compensation

(10,951

)

 

(8,342

)

 

 

 

(20,882

)

 

(15,903

)

 

 

Non-GAAP professional services and other cost of revenues

$

51,717

 

 

$

43,124

 

 

 

 

$

101,449

 

 

$

83,638

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit (loss):

 

 

 

 

 

 

 

 

 

 

 

GAAP subscription gross profit

$

645,510

 

 

$

483,583

 

 

 

 

$

1,258,907

 

 

$

931,510

 

 

 

Stock-based compensation

19,117

 

 

12,538

 

 

 

 

35,139

 

 

23,829

 

 

 

Amortization of purchased intangibles

5,614

 

 

4,637

 

 

 

 

10,314

 

 

9,051

 

 

 

Non-GAAP subscription gross profit

$

670,241

 

 

$

500,758

 

 

 

 

$

1,304,360

 

 

$

964,390

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP professional services and other gross loss

$

(9,753

)

 

$

(5,692

)

 

 

 

$

(20,476

)

 

$

(7,870

)

 

 

Stock-based compensation

10,951

 

 

8,342

 

 

 

 

20,882

 

 

15,903

 

 

 

Non-GAAP professional services and other gross profit

$

1,198

 

 

$

2,650

 

 

 

 

$

406

 

 

$

8,033

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP gross profit

$

635,757

 

 

$

477,891

 

 

 

 

$

1,238,431

 

 

$

923,640

 

 

 

Stock-based compensation

30,068

 

 

20,880

 

 

 

 

56,021

 

 

39,732

 

 

 

Amortization of purchased intangibles

5,614

 

 

4,637

 

 

 

 

10,314

 

 

9,051

 

 

 

Non-GAAP gross profit

$

671,439

 

 

$

503,408

 

 

 

 

$

1,304,766

 

 

$

972,423

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin:

 

 

 

 

 

 

 

 

 

 

 

GAAP subscription gross margin

83

%

 

83

%

 

 

 

83

%

 

83

%

 

 

Stock-based compensation as % of subscription revenues

2

%

 

2

%

 

 

 

2

%

 

1

%

 

 

Amortization of purchased intangibles as % of subscription revenues

1

%

 

1

%

 

 

 

1

%

 

1

%

 

 

Non-GAAP subscription gross margin

86

%

 

86

%

 

 

 

86

%

 

85

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP professional services and other gross margin

(18

%)

 

(12

%)

 

 

 

(20

%)

 

(9

%)

 

 

Stock-based compensation as % of professional services and other revenues

20

%

 

18

%

 

 

 

20

%

 

18

%

 

 

Non-GAAP professional services and other gross margin

2

%

 

6

%

 

 

 

0

%

 

9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP gross margin

76

%

 

76

%

 

 

 

76

%

 

76

%

 

 

Stock-based compensation as % of total revenues

4

%

 

3

%

 

 

 

3

%

 

3

%

 

 

Amortization of purchased intangibles as % of total revenues

1

%

 

1

%

 

 

 

1

%

 

1

%

 

 

Non-GAAP gross margin

81

%

 

80

%

 

 

 

80

%

 

80

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

GAAP sales and marketing expenses

$

393,895

 

 

$

310,869

 

 

 

 

$

755,304

 

 

$

594,570

 

 

 

Stock-based compensation

(69,229

)

 

(57,069

)

 

 

 

(131,359

)

 

(109,151

)

 

 

Non-GAAP sales and marketing expenses

$

324,666

 

 

$

253,800

 

 

 

 

$

623,945

 

 

$

485,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP research and development expenses

$

183,420

 

 

$

127,916

 

 

 

 

$

355,942

 

 

$

245,184

 

 

 

Stock-based compensation

(50,041

)

 

(33,780

)

 

 

 

(93,623

)

 

(62,378

)

 

 

Amortization of purchased intangibles

(455

)

 

(455

)

 

 

 

(910

)

 

(910

)

 

 

Non-GAAP research and development expenses

$

132,924

 

 

$

93,681

 

 

 

 

$

261,409

 

 

$

181,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP general and administrative expenses

$

85,442

 

 

$

71,095

 

 

 

 

$

169,898

 

 

$

136,158

 

 

 

Stock-based compensation

(22,422

)

 

(23,831

)

 

 

 

(48,207

)

 

(45,640

)

 

 

Amortization of purchased intangibles

(1,950

)

 

(959

)

 

 

 

(3,837

)

 

(1,835

)

 

 

Business combination and other related costs

(173

)

 

(597

)

 

 

 

(146

)

 

(664

)

 

 

Non-GAAP general and administrative expenses

$

60,897

 

 

$

45,708

 

 

 

 

$

117,708

 

 

$

88,019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP total operating expenses

$

662,757

 

 

$

509,880

 

 

 

 

$

1,281,144

 

 

$

975,912

 

 

 

Stock-based compensation

(141,692

)

 

(114,680

)

 

 

 

(273,189

)

 

(217,169

)

 

 

Amortization of purchased intangibles

(2,405

)

 

(1,414

)

 

 

 

(4,747

)

 

(2,745

)

 

 

Business combination and other related costs

(173

)

 

(597

)

 

 

 

(146

)

 

(664

)

 

 

Non-GAAP total operating expenses

$

518,487

 

 

$

393,189

 

 

 

 

$

1,003,062

 

 

$

755,334

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations:

 

 

 

 

 

 

 

 

 

 

 

GAAP loss from operations

$

(27,000

)

 

$

(31,989

)

 

 

 

$

(42,713

)

 

$

(52,272

)

 

 

Stock-based compensation

171,760

 

 

135,560

 

 

 

 

329,210

 

 

256,901

 

 

 

Amortization of purchased intangibles

8,019

 

 

6,051

 

 

 

 

15,061

 

 

11,796

 

 

 

Business combination and other related costs

173

 

 

597

 

 

 

 

146

 

 

664

 

 

 

Non-GAAP income from operations

$

152,952

 

 

$

110,219

 

 

 

 

$

301,704

 

 

$

217,089

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating margin:

 

 

 

 

 

 

 

 

 

 

 

GAAP operating margin

(3

%)

 

(5

%)

 

 

 

(3

%)

 

(4

%)

 

 

Stock-based compensation as % of total revenues

21

%

 

21

%

 

 

 

20

%

 

21

%

 

 

Amortization of purchased intangibles as % of total revenues

0

%

 

1

%

 

 

 

2

%

 

1

%

 

 

Business combination and other related costs as % of total revenues

0

%

 

0

%

 

 

 

0

%

 

0

%

 

 

Non-GAAP operating margin

18

%

 

17

%

 

 

 

19

%

 

18

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss):

 

 

 

 

 

 

 

 

 

 

 

GAAP net loss

$

(11,079

)

 

$

(52,746

)

 

 

 

$

(12,624

)

 

$

(42,124

)

 

 

Stock-based compensation

171,760

 

 

135,560

 

 

 

 

329,210

 

 

256,901

 

 

 

Amortization of purchased intangibles

8,019

 

 

6,051

 

 

 

 

15,061

 

 

11,796

 

 

 

Business combination and other related costs

173

 

 

597

 

 

 

 

146

 

 

664

 

 

 

Amortization of debt discount and issuance costs for the convertible senior notes

8,269

 

 

15,498

 

 

 

 

16,437

 

 

32,562

 

 

 

Loss on early note conversions

 

 

3,093

 

 

 

 

 

 

3,873

 

 

 

Income tax expense effects related to the above adjustments

(39,617

)

 

(16,891

)

 

 

 

(81,763

)

 

(67,906

)

 

 

Non-GAAP net income

$

137,525

 

 

$

91,162

 

 

 

 

$

266,467

 

 

$

195,766

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

GAAP net loss per share - basic and diluted

$

(0.06

)

 

$

(0.30

)

 

 

 

$

(0.07

)

 

$

(0.24

)

 

 

Non-GAAP net income per share - basic

$

0.74

 

 

$

0.51

 

 

 

 

$

1.44

 

 

$

1.11

 

 

 

Non-GAAP net income per share - diluted

$

0.71

 

 

$

0.49

 

 

 

 

$

1.38

 

 

$

1.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute net loss per share - basic

186,677,622

 

 

177,343,176

 

 

 

 

184,418,903

 

 

176,418,984

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute net loss per share - diluted

186,677,622

 

 

177,343,176

 

 

 

 

184,418,903

 

 

176,418,984

 

 

 

Effect of dilutive securities (stock options, restricted stock units and warrants) (3)

7,783,986

 

 

10,475,635

 

 

 

 

8,859,296

 

 

10,576,413

 

 

 

Non-GAAP weighted-average shares used to compute net income per share - diluted

194,461,608

 

 

187,818,811

 

 

 

 

193,278,199

 

 

186,995,397

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow:

 

 

 

 

 

 

 

 

 

 

 

GAAP net cash provided by operating activities

$

243,735

 

 

$

125,896

 

 

 

 

$

604,583

 

 

$

375,976

 

 

 

Purchases of property and equipment

(49,896

)

 

(52,991

)

 

 

 

(97,020

)

 

(88,362

)

 

 

Repayments of convertible senior notes attributable to debt discount

 

 

78,897

 

 

 

 

 

 

87,557

 

 

 

Non-GAAP free cash flow

$

193,839

 

 

$

151,802

 

 

 

 

$

507,563

 

 

$

375,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Free cash flow margin:

 

 

 

 

 

 

 

 

 

 

 

GAAP net cash provided by operating activities as % of total revenues

29

%

 

20

%

 

 

 

37

%

 

31

%

 

 

Purchases of property and equipment as % of total revenues

(6

%)

 

(8

%)

 

 

 

(6

%)

 

(7

%)

 

 

Repayments of convertible senior notes attributable to debt discount as % of total revenues

%

 

12

%

 

 

 

%

 

7

%

 

 

Non-GAAP free cash flow margin

23

%

 

24

%

 

 

 

31

%

 

31

%

 

 

(1)

Adjusted revenues and the corresponding growth rates are derived by applying the average exchange rates in effect during the comparison period rather than the actual average exchange rates in effect during the current period.

(2)

Adjusted billings and the corresponding growth rates are derived by applying the average exchange rates in effect during the comparison period rather than the actual average exchange rates in effect during the current period, and by replacing the portion of multi-year billings in excess of twelve months during the current period with the portion of multi-year billings in excess of twelve months during the comparison period.

(3)

Effect of dilutive time-based stock awards, in-the-money portion of convertible senior notes and warrants are included in the GAAP weighted-average diluted shares in periods where we have GAAP net income. We exclude the in-the-money portion of convertible senior notes for non-GAAP weighted-average diluted shares as they are covered by our note hedges. We include stock awards with performance conditions not yet satisfied for non-GAAP weighted-average diluted shares at forecasted attainment levels to the extent we believe it is probable that the performance condition will be met.

ServiceNow, Inc.
Reconciliation of Non-GAAP Financial Guidance

The financial guidance provided below is an estimate based on information available as of June 30, 2019. The company’s future performance and financial results are subject to risks and uncertainties, and actual results could differ materially from the guidance set forth below. Some of the factors that could affect the company’s financial results are stated above in this press release. Further information on these and other factors that could affect our financial results are included in our Form 10-Q for the three months ended March 31, 2019 and in other filings we make with the Securities and Exchange Commission from time to time, including our Form 10-Q that will be filed for the three months ended June 30, 2019. The company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

 

Three Months Ended

 

 

 

September 30, 2019

 

September 30, 2018 (3)

 

Growth Rates

 

 

 

 

 

 

GAAP subscription revenues

$830 - $835 million

 

$627 million

 

32% - 33%

 

 

 

 

 

 

Effects of foreign currency rate fluctuations

6 million

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted subscription revenues (1)

$836 - $841 million

 

 

 

33% - 34%

 

 

 

 

 

 

GAAP subscription revenues

$830 - $835 million

 

$627 million

 

32% - 33%

 

 

 

 

 

 

Change in subscription deferred revenue, unbilled receivables and customer deposits

18 million

 

47 million

 

 

 

 

 

 

 

 

Non-GAAP subscription billings

$848 - $853 million

 

$674 million

 

26% - 27%

 

 

 

 

 

 

Effects of foreign currency rate fluctuations

6 million

 

 

 

 

 

 

 

 

 

 

Effects of fluctuations in billings duration

3 million

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted subscription billings (2)

$857 - $862 million

 

 

 

27% - 28%

 

 

 

 

 

 

GAAP operating margin

2%

 

 

 

 

 

 

 

 

 

 

Stock-based compensation expense as % of total revenues

20%

 

 

 

 

 

 

 

 

 

 

Amortization of purchased intangibles as % of total revenues

1%

 

 

 

 

 

 

 

 

 

 

Non-GAAP operating margin

23%

 

 

 

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute net income per share - diluted

198 million

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities (stock options, restricted stock units and warrants)

(3) million

 

 

 

 

 

 

 

 

 

 

Non-GAAP weighted-average shares used to compute net income per share - diluted

195 million

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended

 

 

 

December 31, 2019

 

December 31, 2018 (3)

 

Growth Rates

 

 

 

 

 

 

GAAP subscription revenues

$3,245 - $3,255 million

 

$2,421 million

 

34%

 

 

 

 

 

 

Effects of foreign currency rate fluctuations

44 million

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted subscription revenues (1)

$3,289 - $3,299 million

 

 

 

36%

 

 

 

 

 

 

GAAP subscription revenues

$3,245 - $3,255 million

 

$2,421 million

 

34%

 

 

 

 

 

 

Change in subscription deferred revenue, unbilled receivables and customer deposits

495 million

 

460 million

 

 

 

 

 

 

 

 

Non-GAAP subscription billings

$3,740 - $3,750 million

 

$2,881 million

 

30%

 

 

 

 

 

 

Effects of foreign currency rate fluctuations

47 million

 

 

 

 

 

 

 

 

 

 

Effects of fluctuations in billings duration

17 million

 

 

 

 

 

 

 

 

 

 

Non-GAAP adjusted subscription billings (2)

$3,804 - $3,814 million

 

 

 

32%

 

 

 

 

 

 

GAAP subscription gross margin

83%

 

 

 

 

 

 

 

 

 

 

Stock-based compensation expense as % of subscription revenues

2%

 

 

 

 

 

 

 

 

 

 

Amortization of purchased intangibles as % of subscription revenues

1%

 

 

 

 

 

 

 

 

 

 

Non-GAAP subscription margin

86%

 

 

 

 

 

 

 

 

 

 

GAAP operating margin

0%

 

 

 

 

 

 

 

 

 

 

Stock-based compensation expense as % of total revenues

20%

 

 

 

 

 

 

 

 

 

 

Amortization of purchased intangibles as % of total revenues

1%

 

 

 

 

 

 

 

 

 

 

Business combination and other related costs as % of total revenues

0%

 

 

 

 

 

 

 

 

 

 

Non-GAAP operating margin

21%

 

 

 

 

 

 

 

 

 

 

GAAP net cash provided by operating activities as % of total revenues

35%

 

 

 

 

 

 

 

 

 

 

Purchases of property and equipment as % of total revenues

(7%)

 

 

 

 

 

 

 

 

 

 

Non-GAAP free cash flow margin

28%

 

 

 

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute net loss per share - diluted (4)

187 million

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities (stock options, restricted stock units and warrants)

7 million

 

 

 

 

 

 

 

 

 

 

Non-GAAP weighted-average shares used to compute net income per share - diluted

194 million

 

 

 

 

(1)

Adjusted revenues and the corresponding growth rates are derived by applying the average exchange rates in effect during the comparison period rather than the exchange rates for the guidance period.

(2)

Adjusted billings and the corresponding growth rates are derived by applying the average exchange rates in effect during the comparison period rather than the exchange rates for the guidance period, and by replacing the portion of multi-year billings in excess of twelve months for the guidance period with the actual portion of multi-year billings in excess of twelve months during the comparison period.

(3)

Effects of foreign currency rate fluctuations and fluctuations in billing durations are not applicable for the comparison period.

(4)

GAAP net income or loss for the year ending December 31, 2019 will depend in part on a number of factors, including income taxes, costs associated with non-cash charges associated with equity awards which vary depending on the grant date stock price and actual attainment for our performance-based RSUs, business combinations and other related benefits or expenses which are not known at this time.

 

Media Contact:
Kari Ramirez
408.607.1315
press@servicenow.com

Investor Contact:
Kendall Toyne
408.831.6040
ir@servicenow.com

Source: ServiceNow, Inc.