8-KEarnings & ResultsLeadership ChangesExhibits & Filings

ServiceNow, Inc. 8-K Report, Financial Results (Jul 27, 2022)

Filed July 27, 2022For Securities:NOW

Summary

ServiceNow, Inc. (NOW) filed an 8-K on July 27, 2022, to announce its financial results for the second quarter ended June 30, 2022. The filing primarily incorporates a press release detailing these results. Investors should note that the company references non-GAAP financial information, providing a reconciliation to GAAP measures and encouraging a comprehensive review of both. The press release itself, attached as an exhibit, contains the detailed financial performance and outlook. Additionally, the filing discloses a modification to the company's 2022 executive compensation program. The Compensation Committee adjusted one internal annual financial target and decided to exclude foreign currency exchange rate impacts from a specific metric for performance-based cash and PRSU awards. These changes align with the company's updated financial plan and guidance. However, payouts tied to modified targets will be capped at 100% unless the original January 2022 internal target is met, in which case the original payout curves will be used.

Key Highlights

  • 1ServiceNow announced its Q2 2022 financial results on July 27, 2022, via an 8-K filing.
  • 2The filing incorporates a press release containing the detailed financial results and outlook.
  • 3The company utilizes and provides reconciliations for non-GAAP financial measures alongside GAAP results.
  • 4Executive compensation metrics were adjusted in a mid-year review.
  • 5One internal annual financial target for executive compensation was modified.
  • 6The impact of foreign currency exchange rates will be excluded from one performance metric for cash and PRSU awards.
  • 7Payouts for modified compensation targets are capped at 100% unless the original 2022 target is met.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce ServiceNow's financial results for the second quarter ended June 30, 2022, through an incorporated press release.

Yes, ServiceNow provides non-GAAP financial information. The company encourages investors to review both GAAP and non-GAAP measures, along with the provided reconciliations, to gain a complete understanding of its financial performance.

The Compensation Committee modified one internal annual financial target and excluded the impact of foreign currency exchange rates from one performance metric for cash incentive and PRSU awards. These adjustments are in line with updated financial plans and guidance.

Payouts based on the modified compensation targets are capped at 100%. However, if the company achieves the original internal financial target set in January 2022, the original, potentially higher, payout curves will apply.