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ServiceNowNOW

Legal name
ServiceNow, Inc.
Sector
Technology
Industry
Services-Prepackaged Software
Exchange
NYSE

Stock Price $NOW

Latest filings

You are here#31 of 88 in Technology by market cap

Filing record · 2016–202610-K1110-Q338-K97

NOW filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 97 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Jan ’22Jan ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  16. $13.28B
YoY changeLargest recent move+39.0%in FY17Latest +20.9%

2 older moves run past ±100% (largest +163.1%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All NOW Financial Metrics60 metrics

Income Statement17

Balance Sheet26

Cash Flow13

Per Share4

02—Overview

ServiceNow Financial Overview 2021–2025

Updated Nov 2, 2026

ServiceNow generated a 34% increase in free cash flow to $4.6 billiona in FY2025, proving its AI-integrated workflow platform can scale profitability faster than its top-line sales. The company has successfully evolved from a basic IT service desk into an essential enterprise backbone, locking in large corporate contracts and accelerating monetization through new artificial intelligence capabilities.

The business demonstrated consistent scale as total revenues grew from $5.9 billion in FY2021 to $12.9 billionb in subscription revenues alone by FY2025. The platform's stickiness is evident in its sustained 98% renewal rate and expanding enterprise footprint. Customers with an Annual Contract Value over $5 million jumped 20% to 603 accounts in FY2025, while Remaining Performance Obligations surged 27% to $28.2 billion, cementing a highly visible pipeline of future contracted revenue.

At the close of FY2025, the market priced this predictable growth at a premium, with the stock trading at $153.19c for a 91.7x P/E ratio and a $160.4 billion market cap. To defend this valuation, management is aggressively deploying capital, executing $2.23 billion in share repurchases during Q1 2026 and announcing a $7.8 billion acquisition of Armis Security to expand its cybersecurity offerings. However, this expansion comes at a cost, as the subscription gross profit margin recently compressed to 78% in Q1 2026 due to rising cloud infrastructure and acquisition-related integration expenses.

Recent Developments (Q2 and Q3 2026)

ServiceNow's momentum accelerated into the second half of the year as artificial intelligence adoption drove upward guidance revisions. In Q3 2026, total revenues climbed 21% year-over-year to $4.1 billiond, while the company raised its full-year AI Annual Contract Value target to $1.7 billion. To further expand its capabilities, the company closed its $1.2 billion acquisition of Veza Technologies and issued $4.0 billion in senior notes during Q2 2026. However, integration costs and AI-driven workforce restructuring led to $87 million in Q3 2026 severance charges, compressing the subscription gross profit margin to 74% from 80% in Q3 2025.

Bulls point to surging large-deal momentum, highlighted by a 135% year-over-year jump in net new transactions over $5 millione during the third quarter. Conversely, bears caution that the stock is priced for perfection at a lofty 89.9x P/E ratio as of October 28, 2026, leaving little room for error if cloud infrastructure costs continue eroding margins.

What to watch: stabilization in subscription gross margins; enterprise adoption of the expanded OpenAI integration

03—Filings

Recent SEC Filings

  1. 8-KServiceNow 8-K Report, Financial Results (Oct 28, 2026)ServiceNow, Inc. (NOW) reported strong third-quarter 2026 financial results, exceeding guidance across key metrics and demonstrating robust year-over-year growth. The company announced subscription revenues of $3,988 million, a 21% increase (20.5% in constant currency), and total revenues of $4,106 million, up 20.5% (20% in constant currency). This performance, coupled with a significant increase in current remaining performance obligations (cRPO) to $13.65 billion (up 20.5%), indicates sustained demand and a healthy future revenue pipeline. ServiceNow also raised its full-year outlook for subscription revenues and free cash flow margin, underscoring management's confidence in continued growth. A key driver highlighted is the accelerating adoption of AI, with the company raising its AI annual contract value target to $1.7 billion. Strategic partnerships and product innovations, particularly in AI governance and security, are positioning ServiceNow as a leader in "Super Intelligence Control Tower" solutions, which management believes is a significant inflection point for the company. Investors should note the strong performance in large deal execution, with a significant increase in transactions over $5 million in net new annual contract value.
  2. 8-KServiceNow 8-K/A Report, Financial Results (Oct 28, 2026)ServiceNow, Inc. (NOW) filed an 8-K/A on October 28, 2026, primarily to provide Inline XBRL tagging for its previously filed Current Report on Form 8-K. The key information from the filing pertains to the financial results for the third quarter ended September 30, 2026, as announced in a press release. The company reported strong performance, exceeding guidance across key metrics and raising its full-year outlook for subscription revenues and free cash flow margin. Key financial highlights include robust subscription revenue growth of 21% year-over-year (20.5% in constant currency) reaching $3,988 million. Total revenues grew 20.5% year-over-year to $4,106 million. Current Remaining Performance Obligations (cRPO) and total Remaining Performance Obligations (RPO) also showed strong growth, indicating a healthy future revenue pipeline. Furthermore, ServiceNow raised its annual contract value (ACV) target for AI-related deals for 2026 to $1.7 billion, signaling accelerating AI adoption by its customers.
  3. 8-KServiceNow 8-K Report, Financial Results (Jul 22, 2026)ServiceNow reported second quarter 2026 results that beat the high end of its guidance across every topline and profitability metric. Total revenues were $3,987 million, up 24% year-over-year (22.5% in constant currency), and subscription revenues were $3,877 million, up 24.5% (23% constant currency). Current RPO reached $13.20 billion (+21%) and total RPO reached $29.0 billion (+21%). Management raised full-year 2026 subscription revenue guidance to $15,760-$15,780 million (22.5% GAAP growth, 21% constant currency), though part of the Q2 upside reflects on-premise revenue pulled forward from Q3 by strong U.S. Federal demand. Profitability was mixed on a GAAP basis. GAAP operating income fell to $162 million (4% margin) from $358 million a year ago, as acquisition-related amortization, business combination costs, severance, and stock-based compensation rose sharply following recent acquisitions (goodwill up to $9.8 billion from $3.6 billion at year-end 2025). Non-GAAP operating income was $1,173 million (29.5% margin), and GAAP diluted EPS was $0.29 versus non-GAAP EPS of $0.90. Free cash flow was $634 million (16% margin, non-GAAP), though GAAP operating cash flow was weak at $587 million, and the balance sheet shifted to net debt, with total debt rising to roughly $7.5 billion after $7.5 billion of Q2 business combination outflows. Management guided Q3 2026 subscription revenue to $3,975-$3,980 million (20.5% GAAP growth, 20% constant currency), with a 31% non-GAAP operating margin, and flagged a roughly $35 million FX headwind to Q3 cRPO. Management also reiterated its Rule of 56 for 2026 and a Rule of 60+ long-term target, plus a commitment to reduce stock-based compensation below 10% of revenue by 2029. Investors should weigh the strong top-line momentum and AI traction against the sharp GAAP margin compression, rising acquisition-related costs, the step-up in leverage, and the expected deceleration in Q3 subscription growth.
  4. 8-KServiceNow 8-K Report, Executive Changes (May 22, 2026)ServiceNow, Inc. (NOW) held its 2026 Annual Shareholders Meeting, where key decisions regarding executive compensation and equity were made. Shareholders overwhelmingly approved amendments to the Amended and Restated 2021 Equity Incentive Plan, increasing the share reserve by 38,000,000 shares to support future equity awards. This move is significant for talent retention and incentivization in a competitive tech landscape. Furthermore, the meeting saw strong shareholder support for the current compensation of named executive officers, as indicated by the advisory vote. The company will continue to hold annual advisory votes on executive compensation, aligning with shareholder preference for yearly engagement on this matter. The board of directors and the company's independent auditor were also ratified, reflecting broad shareholder confidence in the company's governance and financial oversight.
  5. 8-KServiceNow 8-K Report, Material Agreement (May 15, 2026)ServiceNow, Inc. (NOW) has filed an 8-K report detailing the completion of a significant debt offering on May 15, 2026. The company successfully raised an aggregate of $4.0 billion through the issuance of various tranches of notes with different maturity dates and interest rates. This strategic move diversifies ServiceNow's debt structure and provides substantial capital, likely for general corporate purposes, potential acquisitions, or continued investment in growth initiatives. Investors should note the specific terms of each note series, including coupon rates and maturity dates, which range from 2028 to 2056, indicating a long-term financing strategy. The offering was conducted under the company's effective Form S-3 registration statement and involved a robust underwriting syndicate led by prominent financial institutions. The issuance of these notes creates a direct financial obligation for ServiceNow, as detailed in the accompanying indenture agreements. This filing primarily communicates the execution of this material financing transaction, which is crucial for understanding the company's capital structure and its ability to fund future operations and strategic objectives.
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04—See also

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