ServiceNow (NOW) - NYSE
  • Wed, Jul. 27, 4:03 PM
    • ServiceNow (NYSE:NOW): Q2 EPS of $0.15 beats by $0.05.
    • Revenue of $341.31M (+38.3% Y/Y) beats by $7.35M.
    • Shares -5%.
    • Press Release
    | Wed, Jul. 27, 4:03 PM | 2 Comments
  • Tue, Jul. 26, 5:35 PM
  • Thu, Apr. 21, 1:09 PM
    • Three months ago, cloud/SaaS software firms sold off after cloud IT service management software (ITSM) firm ServiceNow (NOW +14.5%) missed its Q4 billings guidance and offered light 2016 sales guidance. Today, the group is rallying after ServiceNow beat Q1 estimates, provided in-line guidance, and reported billings of $376.7M, up 41% Y/Y and beating guidance of $360M-$365M. The company also reported a 48% Y/Y increase in clients with over $1M in annualized contract value, to 249.
    • Cloud gainers include HR/financials software leader Workday (WDAY +2.3%), ERP/commerce software firm NetSuite (N +4.9%), marketing automation software firms Marketo (MKTO +3.1%) and HubSpot (HUBS +3.2%), talent management software firm Cornerstone OnDemand (CSOD +2.9%), customer support software firm Zendesk (ZEN +3.8%), collaboration/project management software firm Atlassian (TEAM +2.6%), enterprise healthcare software firm Castlight (CSLT +5.4%), and life sciences software firm Veeva (VEEV +2.4%). The Nasdaq is nearly flat.
    • BTIG's Joel Fishbein has hiked his ServiceNow target by $5 to $85, while reiterating a Buy rating. "Strong results across the board suggest that the company continues to see success both in core ITSM and as a broader enterprise service tool. After enjoying most of its public life as a beat-and-raise stock, 2015 was somewhat messy; strong growth and good [key performance indicators] supportive of the bull thesis were overshadowed throughout the year by minor miscues -- a forecasting error, currency adjustments, and inconsistent billings reporting.

      However, 1Q was clean, with strong billings growth, healthy upsells, and metrics showing growing contribution from non-IT services. Law of large numbers is still looming on the horizon but ServiceNow is on the path of being one of a few elite category-leading enterprise SaaS companies. We continue to be buyers of NOW."
    | Thu, Apr. 21, 1:09 PM | 2 Comments
  • Wed, Apr. 20, 5:24 PM
    • ServiceNow (NOW +2.3%) has jumped 11.5% in late trading after beating expectations on strong across the board revenue growth.
    • Billings rose 41% Y/Y to $376.7M in the company's "best first quarter ever," says CEO Frank Slootman. The company has 249 customers each paying more than $1M in annualized contract value.
    • Revenue by segment: Subscription, $267.4M (up 48.6%); Professional services and other, $38.5M (up 20%).
    • Free cash flow was $67.1M (22% of revenue).
    • For Q2, the company is forecasting total revenues of $332M-$335M (in line with consensus, and representing growth of 35-36%); of that, subscription revenues of $284M-$286M (growth of 42-43%) and professional services/other revenues of $48M-$49M (4-6% growth).
    • For the full year, it's expecting total revenues of $1.355B-$1.38B, in line.
    • Press Release
    | Wed, Apr. 20, 5:24 PM | 1 Comment
  • Wed, Apr. 20, 4:01 PM
    • ServiceNow (NYSE:NOW): Q1 EPS of $0.09 beats by $0.02.
    • Revenue of $305.9M (+44.3% Y/Y) beats by $5.02M.
    • Shares +0.01%.
    • Press Release
    | Wed, Apr. 20, 4:01 PM | 4 Comments
  • Tue, Apr. 19, 5:35 PM
  • Wed, Jan. 27, 4:59 PM
    • Though ServiceNow (NYSE:NOW) beat Q4 revenue and EPS estimates, it reported billings of $365.7M (+33% Y/Y), below guidance of $370M-$375M.
    • Q1 revenue guidance of $298M-$303M is above a $297.8M consensus. However, 2016 revenue guidance of $1.34B-$1.37B is almost entirely below a $1.37B consensus. Billings are expected to total $360M-$365M in Q1, and $1.6B in 2016 (33% above 2015's $1.2B). 2016 free cash flow margin guidance is at 24%.
    • Among the positives: 2015 free cash flow was $227.6M, well above net income of $67.4M. 230 customers now pay over $1M in annualized contract value, up from 206 at the end of Q3.
    • ServiceNow has fallen to $64.10 after hours, making new 52-week lows along the way.
    • Q4 results, earnings release
    | Wed, Jan. 27, 4:59 PM | 5 Comments
  • Wed, Jan. 27, 4:13 PM
    • ServiceNow (NYSE:NOW): Q4 EPS of $0.19 beats by $0.11.
    • Revenue of $285.7M (+44.3% Y/Y) beats by $4.34M.
    | Wed, Jan. 27, 4:13 PM | 2 Comments
  • Tue, Jan. 26, 5:35 PM
  • Oct. 22, 2015, 1:14 PM
    • Down in after hours trading yesterday after providing cautious Q4 revenue guidance and reiterating its full-year billings forecast in spite of a Q3 beat, ServiceNow (NYSE:NOW) has reversed course today. Shares are at their highest levels since August.
    • CEO Frank Slootman used the earnings call (transcript) to talk up ServiceNow's deal size growth and its efforts to expand beyond its core cloud IT service management (ITSM) software market. Annual contract value (ACV) per Global 2000 customer was $816K (+28% Y/Y), and net clients included Express Scripts, Alexion Pharma, and Dow Chemical. IT operations management (ITOM) software saw 170% Y/Y growth and made up 14% of ACV; ITSM performance analytics software grew 179% and made up 5% of ACV.
    • When asked about ServiceNow's guidance for op. margin to drop to 9% in Q4 from Q3's 15%, CFO Mike Scarpelli attributed the decline to the timing of expenses/hiring. When Slootman was asked about a slowdown in professional services revenue growth, he stated the company is making an effort to push out more services work to partners. Professional services/other revenue made up 17% of Q3 revenue (subscriptions made up the rest).
    | Oct. 22, 2015, 1:14 PM
  • Oct. 21, 2015, 5:10 PM
    • While ServiceNow (NYSE:NOW) beat Q3 estimates, it's guiding for Q4 revenue of $277M-$282M (+40%-42% Y/Y), below a $281.4M consensus at the midpoint. A strong dollar is expected to have a 4%-5% impact on revenue growth, after having a 9% impact in Q3.
    • Billings: Q3 billings totaled $286.4M, +38% Y/Y (+46% exc. forex), above revenue of $261.2M, and above guidance of $280M-$285M. However, full-year billings guidance of $1.2B has been reiterated. Guidance for seasonally strong Q4 is at $370M-$375M (+35%-37% Y/Y).
    • Financials: With billings above revenue, free cash flow totaled $42.3M, above net income of $25M. Q4 FCF guidance is at $60M, and full-year guidance at $207M. Operating expenses (non-GAAP) rose 37% Y/Y to $153.8M - sales/marketing spend account for $91.7M, R&D $37.7M, and G&A $24.4M. ServiceNow ended Q3 with $729M in cash/short-term investments, and $467M in convertible debt.
    • 39 Global 2000 customers were added in Q3, leading total penetration to top 30%. 206 customers provide over $1M in annualized contract value (+62% Y/Y).
    • Shares have fallen to $67.50 after hours.
    • Q3 results, PR
    | Oct. 21, 2015, 5:10 PM | 1 Comment
  • Oct. 21, 2015, 4:07 PM
    • ServiceNow (NYSE:NOW): Q3 EPS of $0.15 beats by $0.07.
    • Revenue of $261.2M (+46.2% Y/Y) beats by $5M.
    • Shares -4%.
    | Oct. 21, 2015, 4:07 PM | 1 Comment
  • Oct. 20, 2015, 5:35 PM
  • Aug. 11, 2015, 4:59 PM
    • Along with its FQ1 results, Computer Sciences (NYSE:CSC) announces it's buying Fruition Partners, the biggest management consulting firm exclusively handling deployments of cloud IT service management (ITSM) software leader ServiceNow's (NYSE:NOW) products, and Fixnetix, a provider of IT systems management services for financial industry trading desks. Terms for both deals are undisclosed.
    • ServiceNow has been seeing rapid growth as it grabs ITSM software share from on-premise software vendors. CSC notes Fruition is "the only ServiceNow Master Solutions Partner operating in both North America and Europe," and plans to sell its services via CSC's 1,000-person salesforce.
    • Regarding Fixnetix, CSC states the company "will be a key component to the implementation of our infrastructure strategy and will advance CSC as a leader in providing managed services to capital markets firms throughout the world." Fixnetix is based in London, and also operates in NYC, Tokyo, Boston, and Chicago. Both purchases bolster CSC's commercial IT services ops before they're split from the company's U.S. public sector ops.
    • Following its FQ1 EPS beat and revenue miss, CSC is reiterating FY16 (ends March '16) guidance for EPS from continuing ops of $4.75-$5.05. Consensus is at $4.85.
    • Global Business Services revenue fell 7.5% Y/Y in FQ1 to $919M. Global Infrastructure Services fell 15.3% to $885M. North American fell 6% to $957M. Nonetheless, op. margin rose 140 bps Y/Y to 10.8%, and free cash flow by $50M to $120M. $118M was spent on buybacks.
    • CSC has risen to $67.00 in AH trading.
    • CSC's FQ1 results, PR
    | Aug. 11, 2015, 4:59 PM
  • Jul. 29, 2015, 8:33 PM
    • ServiceNow (NYSE:NOW) used its Q2 report to narrow its full-year revenue guidance range to $985B-$1B (+44%-47% Y/Y) from $970M-$1B. Consensus is at $990M.
    • Q3 revenue guidance is at $252M-$257M (41%-44% Y/Y) vs. a $256.5M consensus. Forex is expected to have an 8% impact on both Q3 and full-year sales growth.
    • Q2 billings totaled $281.4M, +50% Y/Y (+62% exc. forex) and above guidance of $260M-$265M. Q3 billings guidance is at $280M-$285M (+35%-37%), and full-year guidance at $1.2B (+41%).
    • 21 net new Global 2000 customers were added in Q2, bringing the base to 566; 23 were added in Q1. With billings $34.7M above revenue, free cash flow ($35M) was again well above net income ($7.3M).
    • ServiceNow finished AH trading down 1.3% to $77.00.
    • Q2 results, PR
    | Jul. 29, 2015, 8:33 PM
Company Description
ServiceNow, Inc. provides cloud based services to automate enterprise information technology operations. The company focuses on transforming enterprise IT by automating and standardizing business processes and consolidating IT across the global enterprise. Its services include the following... More
Sector: Technology
Industry: Business Software & Services
Country: United States