Showing posts with label ServiceNow. Show all posts
Showing posts with label ServiceNow. Show all posts

Wednesday, July 29, 2020

ServiceNow is now on a $4 billion subscription annual run rate

ServiceNow reported Q2 subscription revenues of $1,016 million, representing 30% year-over-year growth, 32% adjusted for constant currency. Net income was $41 million, or $0.21 per share.

During the quarter, ServiceNow closed 40 transactions with more than $1 million, including two transactions over $10 million, in net new annual contract value (ACV). The company now has 964 total customers with more than $1 million in ACV, representing 26% year-over-year growth in customers.

“ServiceNow is leading the workflow revolution, proven by our very strong Q2 results,” said ServiceNow CEO Bill McDermott. “Businesses need to rapidly digitize workflows to deliver great experiences for their customers, employees, and partners. We are the strategic workflow authority helping our customers solve once-in-a-generation challenges and capitalize on the immense opportunities of digital transformation. Every day we are manifesting our purpose — making the world of work, work better for people — on our journey to becoming the defining enterprise software company of the 21st century.”

“In Q2, we achieved our $4 billion revenues run rate milestone. We exceeded the high end of our subscription revenues and billings guidance, while continuing to drive margin expansion and strong free cash flow,” said ServiceNow CFO Gina Mastantuono. “Our best-in-class renewal rate remained at 97%, and customers continue to expand on the Now Platform, giving us conviction to raise our growth and profitability guidance for the year. I am confident in our ability to deliver our second half.”

Wednesday, April 15, 2020

ServiceNow announces no layoffs through 2020

ServiceNow announced a "no layoffs" policy to protect the jobs of its 11,000-plus global workforce through 2020 despite the economic uncertainty of the COVID-19 pandemic. The company also expects to keep hiring for new jobs worldwide this year. In addition, ServiceNow expects to continue to protect the jobs and salaries of several hundred support staff and contractors who are not working while ServiceNow’s offices remain closed.

“We want our employees focused on supporting our customers, not worried about their own jobs,” said Bill McDermott, ServiceNow’s CEO. “We are committed to no layoffs for 2020. We are continuing to hire worldwide.”

“We are grateful to be in this position,” McDermott continued. “Keeping our company strong means we can help our customers succeed. Supporting our customers, we can help get the U.S. and global economy working again. More than ever, companies see that creating great workflow-designed experiences help protect revenue and growth, provide business continuity and drive productivity. These are the priorities for every company now. We are all in this together.”

Tuesday, January 28, 2020

ServiceNow to acquire Passage AI

ServiceNow agreed to acquire Passage AI, a start-up based in Mountain View, California, for its conversational AI platform. Financial terms were not disclosed.

ServiceNow said the acquisition will enhance its deep learning AI capabilities and accelerate its vision of supporting all major languages across the company’s Now Platform and products, including ServiceNow Virtual Agent, Service Portal, Workspaces and emerging interfaces.

“Work flows more smoothly when people can get things done in their native language,” said Debu Chatterjee, senior director of AI Engineering at ServiceNow. “Building deep learning, conversational AI capabilities into the Now Platform will enable a work request initiated in German or a customer inquiry initiated in Japanese to be solved by Virtual Agent. Passage AI’s technology will enable us to accelerate our vision of empowering great employee and customer experiences by delivering great workflow experiences. ServiceNow believes in making work flow more smoothly across the enterprise, in all major languages.”

Passage AI was founded in 2016 by CEO Ravi N. Raj, CTO Madhu Mathihalli and CTO Mitul Tiwari.

Monday, January 27, 2020

ServiceNow goes industry-specific, including telecom support

ServiceNow is pursuing a new industry solutions strategy, including for telecommunications and banking.

ServiceNow said its new telecommunications solution will align customer care and service assurance to transform how communication service providers deliver great customer experiences by proactively anticipating issues and addressing them quickly while maximizing availability and quality of service. The company's new banking solution will simplify middle-to-back office operations to help banks move at the speed of digital business, delivering seamless customer experiences throughout the enterprise that drive customer loyalty.

“Every company around the world aspires to deliver great experiences that drive fierce customer loyalty and create powerful employee engagement,” said Bill McDermott, president and CEO, ServiceNow. “And companies across many industries are turning to ServiceNow to help them transform their business to unleash productivity and fuel innovation. By creating industry-specific solutions, delivered through a partner-led model, we can better address the unique challenges that companies in key vertical markets face as they look to digitally transform their businesses.”

ServiceNow also announced extended partnerships with Deloitte and Accenture. Deloitte will become the “Lead Launch” Partner for ServiceNow’s banking solution, working with ServiceNow to implement new workflows that will transform how banks operate. Accenture will become the “Lead Launch” ecosystem partner for ServiceNow on its new telecommunications solution, helping companies drive digital transformation through purpose-built workflows. Accenture will also help guide ServiceNow’s product roadmap and create telecommunications-specific digital workflow solutions that deliver great experiences to help support software defined networking, especially vital for new connected services enabled by 5G.

“With 5G being one of the highest priorities and most significant investments for service providers, they are seeking a competitive advantage by establishing greater agility and scale in today’s cloud-first world,” said Peters Suh, North America Communications Industry Lead at Accenture. “Through our expanded ecosystem partnership with ServiceNow, we’re better positioned than ever to help companies elevate solutions and support the transitions of the telecommunications industry.”

Tuesday, October 22, 2019

ServiceNow names Bill McDermott as CEO, former CEO of SAP

ServiceNow appointed Bill McDermott as President and Chief Executive Officer and a member of the Board of Directors, replacing John Donahoe, who is stepping down from ServiceNow to become President and Chief Executive Officer of Nike in January 2020.

McDermott served as CEO of SAP from 2014 until this month and was co-CEO from 2010 to 2014. During McDermott’s tenure as co-CEO and CEO, SAP tripled its market value to approximately $140 billion, growing into a global software company with more than 437,000 customers in over 180 countries.

“ServiceNow’s board is thrilled to have Bill McDermott join the company,” said Jeff Miller, Lead Independent Director of the ServiceNow Board of Directors. “His global experience and proven track record will provide for a smooth transition and continued strong leadership. Bill will further enhance ServiceNow’s momentum and reputation as a digital workflows leader committed to customer success, and as a preferred strategic partner enabling enterprise digital transformation.”

In addition, ServiceNow announced preliminary third quarter 2019 financial results, as well as updated guidance for its full year 2019 financial outlook. For the third quarter 2019, subscription revenues were $835 million, representing 35% year-over-year growth, adjusted for FX. Subscription revenues for the third quarter exceeded the mid-point of ServiceNow’s guidance by $9 million, excluding the impact of FX.

For full year 2019 guidance, ServiceNow is carrying forward the $9 million in subscription revenues and $10 million in subscription billings that, excluding the impacts of FX and duration, exceeded the company’s previous mid-point guidance for the third quarter.

For the full year 2019, ServiceNow expects subscription revenues between $3.240 billion and $3.245 billion, representing 36% to 37% year-over-year growth, adjusted for FX. This includes an impact of $18 million due to FX.

Wednesday, April 20, 2016

ServiceNow Sees 44% YoY Growth for Enterprise Cloud Services

ServiceNow, which offers enterprise cloud services, reported Q1 total revenues of $305.9 million, an increase of 44% year-over-year.

There was a GAAP net loss of $333.3 million, or loss of $2.06 per basic and diluted share, compared to a GAAP net loss of $58.1 million, or loss of $0.38 per basic and diluted share, in the first quarter of 2015.

“We’re off to a strong start with our best first quarter ever,” said Frank Slootman, president and chief executive officer, ServiceNow. “Strong upsells and traction with our emerging products were two key growth vectors during the quarter. We now have 249 customers each paying us more than $1 million in annualized contract value, an increase of 48% year-over-year,” said Michael Scarpelli, chief financial officer, ServiceNow. “We also landed a record 13 upsells in the quarter each with an annualized contract value greater than $1 million.”

http://www.servicenow.com