Summary
ServiceNow, Inc. (NOW) filed an 8-K on April 23, 2019, primarily to announce its first-quarter 2019 financial results via a press release (Exhibit 99.1). While specific financial figures are not detailed within the 8-K itself, the filing indicates the company is reporting results for the period ending March 31, 2019, and references the use of both GAAP and non-GAAP financial measures, encouraging investors to review both for a comprehensive understanding. In addition to financial results, the report also disclosed a change in its Board of Directors. Ronald E.F. Codd announced he will not seek re-election at the upcoming annual meeting, citing the company's growth phase as a reason for his retirement from the Board. Following this, the Board approved a reduction in its size from eleven to ten members, effective after the annual meeting. Investors should consult the attached press release for detailed financial performance metrics.
Key Highlights
- 1ServiceNow announced its Q1 2019 financial results via press release filed as Exhibit 99.1.
- 2The company reported financial results for the three months ended March 31, 2019.
- 3ServiceNow utilizes and reports both GAAP and non-GAAP financial measures.
- 4Investors are encouraged to consider both GAAP and supplemental non-GAAP information.
- 5Director Ronald E.F. Codd will not stand for re-election at the upcoming annual meeting.
- 6Mr. Codd's departure is attributed to the company entering a new growth phase, not a disagreement.
- 7The Board of Directors' size will be reduced from 11 to 10 members post-annual meeting.