ServiceNow
What matters nowUpdated 7 h ago
- Flow by ServiceNow, a conversational AI service desk, entered controlled availability on October 1, 2026, with general availability in North America and EMEA expected in the fourth quarter of 2026 1. On October 6 the company launched AI Workflow Factory, a loop that combines process mining, autonomous engineering and app building, and said it is globally available today 2. On October 8 ServiceNow reported that the City of Raleigh cut IT service desk costs by 66%, a company-reported figure with no baseline given 3.
- NOW traded at $142.52 on the pooled 24/7 venue price, up 1.98% from the previous close of $139.75. Recent moves were large: +5.56% on August 27, +4.18% on August 28, -4.48% on September 1, -5.23% on September 8 and +7.43% on September 14.
- Revenue for the twelve months to June 30, 2026 was $14.73 billion, up 22.2%, with a 74.8% gross margin, an 11.4% operating margin and $4.58 billion of free cash flow. Subscription revenue grew 24.5% in the June 2026 quarter and cRPO grew 21%, and fiscal 2026 subscription revenue is guided to $15.76 billion to $15.78 billion.
- At a market capitalisation of $147.3 billion the stock trades at 10.0 times trailing sales and 63.4 times EV/EBITDA, with a 3.1% free-cash-flow yield. Insiders sold 43,747 shares worth $4.64 million in 10 filings over the last 180 days and bought none.
- The next test is Q3 2026 results after the close on October 28, measured against guidance of $3.975 billion to $3.980 billion in subscription revenue 4. Polymarket gives 81.5% to no change in Fed rates after the October 2026 meeting and 17.5% to a 25 basis point hike, and September CPI is due October 14.
ServiceNow newsroom · Oct 1
ServiceNow newsroom · Oct 6
ServiceNow newsroom · Oct 8
ServiceNow newsroom · Oct 7
ServiceNow sells a cloud platform that automates IT, HR, customer service and security workflows for large enterprises, and increasingly sells AI agents that run those workflows. Fiscal 2025 revenue was $13.278 billion, up 21%, and subscription revenue was $12.883 billion. In the June 2026 quarter subscription revenue grew 24.5% and cRPO grew 21%. The stock trades on whether AI products add to the core subscription base, how much the Armis and Moveworks acquisitions contribute, and whether margins hold while AI costs rise.
How it makes money
ServiceNow earns mostly recurring subscription revenue, sold as annual contracts priced by user or by workflow consumption, with multi-year terms and large enterprise customers. Subscription revenue was about 97% of fiscal 2025 revenue. Professional services, which help customers deploy the platform, make up the rest. Costs are mainly cloud hosting, staff and AI compute. Management reports results on a non-GAAP basis and guides on subscription revenue and cRPO.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Now Platform subscriptions
Subscription revenue is growing 24.5%. The company guides fiscal 2026 subscription revenue to $15.76 billion to $15.78 billion.
Next: Q3 2026 results and guidance update · 2026-10-28
ServiceNow AI and AI agents
AI passed $1 billion in annual contract value in Q2 2026. Management targets AI at 30% of ACV by 2030.
Moveworks employee AI assistant
Acquired in December 2025 and now sold inside the ServiceNow platform as the conversational front door for employees.
Armis cyber exposure and security
Armis closed on April 20, 2026 for about $7.75 billion in cash. Armis Centrix remains available as a standalone product.
Latest newsAll news →
City of Raleigh reports 66% lower IT service desk costs after ServiceNow AI agent go-live
ServiceNow says the City of Raleigh became the first municipal government to run its IT Service Desk AI Specialist in production, cutting IT service desk costs by 66% through redirected staff time.
ServiceNow sets third-quarter 2026 results for October 28 after the close
ServiceNow said it will report third-quarter 2026 results after the market close on Wednesday, October 28, with a conference call at 2 p.m.
Bundesliga names ServiceNow Official CRM Partner; 89% of fan questions resolved at first contact
The Bundesliga named ServiceNow its Official CRM Partner, on top of the Official Workflow Partner role from 2025.
ServiceNow launches AI Workflow Factory, a continuous loop for process improvement
ServiceNow launched AI Workflow Factory, a repeating loop in which Process Mining finds business processes to change, Autonomous Engineer and Build Agent build the fixes, and App Engine runs them at scale.
ServiceNow launches Flow, an AI service desk that can be running in a day
ServiceNow launched Flow by ServiceNow, a conversational AI service desk that runs in the chat tools employees already use.
ServiceNow completes Sweep acquisition to add agentic AI for CRM
ServiceNow confirmed it completed its acquisition of Sweep, an Israeli AI startup, on September 1, 2026.
Products & businesses
Now Platform subscriptions
Subscription revenue is growing 24.5%. The company guides fiscal 2026 subscription revenue to $15.76 billion to $15.78 billion.
Next: Q3 2026 results and guidance update · 2026-10-28
ServiceNow AI and AI agents
AI passed $1 billion in annual contract value in Q2 2026. Management targets AI at 30% of ACV by 2030.
Moveworks employee AI assistant
Acquired in December 2025 and now sold inside the ServiceNow platform as the conversational front door for employees.
Armis cyber exposure and security
Armis closed on April 20, 2026 for about $7.75 billion in cash. Armis Centrix remains available as a standalone product.
Professional services and other
Revenue grew 17% in fiscal 2025, slower than subscriptions. It is a small share of the total.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Subscription revenue Recurring fees for access to the Now platform and its applications, billed annually over multi-year contracts. This is the core business and most of the growth. | $12.88B | 97.0% | |
| Professional services and other Implementation, consulting and training that help customers deploy the platform, plus other smaller revenue. It grows more slowly than subscriptions and is a small share of revenue. | $395.0M | 3.0% |
Fiscal FY2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.73B | $3.99B +24% | $3.77B +22% | $3.57Bd +21% | $3.41B +22% | $3.21B +22% | $3.09B +19% | $2.96Bd +21% | $2.80B +22% |
| Gross profit | $11.02B | $2.82B +13% | $2.83B +16% | $2.73Bd +18% | $2.63B +19% | $2.49B +20% | $2.44B +17% | $2.33Bd +21% | $2.21B +23% |
| Operating income | $1.68B | $162.0M -55% | $503.0M +12% | $443.0Md +18% | $572.0M +37% | $358.0M +49% | $451.0M +36% | $374.0Md +39% | $418.0M +81% |
| Net income | $1.67B | $298.0M -23% | $469.0M +2% | $401.0Md +4% | $502.0M +16% | $385.0M +47% | $460.0M +33% | $384.0Md +30% | $432.0M +79% |
| EPS (diluted) | $-1.62 | $0.29 -22% | $0.45 +2% | $-4.76d | $2.40 +16% | $0.37 -71% | $0.44 -74% | $-3.63d | $2.07 +77% |
| Operating cash flow | $5.31B | $587.0Md -18% | $1.67B -0% | $2.24Bd +37% | $813.0Md +21% | $716.0Md +15% | $1.68B +25% | $1.64Bd +2% | $671.0Md +116% |
| Capital expenditure | $728.0M | $114.0Md -40% | $141.0M -31% | $238.0Md -6% | $235.0Md +16% | $190.0Md -27% | $205.0M +52% | $253.0Md -3% | $202.0Md +49% |
| Share buybacks | $3.41B | $0d -100% | $2.23B +647% | $597.0Md +102% | $584.0Md +160% | $361.0Md | $298.0M +70% | $296.0Md +16% | $225.0Md -20% |
| Cash & equivalents | $2.50B | $2.50B | $2.70B | $3.73B | $2.73B | $3.12B | $3.37B | $2.30B | $1.89B |
| Total debt | $9.62B | $9.62Bd | — | $1.49Bd | — | — | — | — | — |
| Shares outstanding | 1.03B | 1.03B | 1.03B | 1.05B | 207.6M | 207.5M | 207.0M | 1.03B | 206.3M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $13.28B +21% | $10.98B +22% | $8.97B +24% | $7.25B |
| Cost of revenue | $2.98B +30% | $2.29B +19% | $1.92B +22% | $1.57B |
| Gross profit | $10.29B +18% | $8.70B +23% | $7.05B +24% | $5.67B |
| Research & development | $2.96B +16% | $2.54B +20% | $2.12B +20% | $1.77B |
| Operating income | $1.82B +34% | $1.36B +79% | $762.0M +115% | $355.0M |
| EBIT | $1.82B +34% | $1.36B +79% | $762.0M +115% | $355.0M |
| Depreciation & amortization | $738.0M +31% | $564.0M +0% | $562.0M +30% | $433.0M |
| Interest expense | — | — | — | $27.0M |
| Income tax | $513.0M +64% | $313.0M | −$723.0M -1077% | $74.0M |
| Net income | $1.75B +23% | $1.43B -18% | $1.73B +433% | $325.0M |
| EPS (diluted) | $1.67 +22% | $1.37 -18% | $1.68 +5% | $1.60 |
| Diluted shares (weighted) | 1.05B | 1.04B | 1.03B | 203.5M |
| Operating cash flow | $5.44B +28% | $4.27B +26% | $3.40B +25% | $2.72B |
| Capital expenditure | $868.0M +2% | $852.0M +23% | $694.0M +26% | $550.0M |
| Share buybacks | $1.84B +164% | $696.0M +29% | $538.0M | $0 |
| Cash & equivalents | $3.73B | $2.30B | $1.90B | $1.47B |
| Long-term debt (incl. current portion) | $1.49B | — | — | — |
| Total debt | $1.49Bd | — | — | — |
| Total assets | $26.04B | $20.38B | $17.39B | $13.30B |
| Total liabilities | $13.07B | $10.77B | $9.76B | $8.27B |
| Shareholders' equity | $12.96B | $9.61B | $7.63B | $5.03B |
| Shares outstanding | 1.05B | 1.03B | 204.7M | 202.9M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
City of Raleigh reports 66% lower IT service desk costs after ServiceNow AI agent go-live
ServiceNow says the City of Raleigh became the first municipal government to run its IT Service Desk AI Specialist in production, cutting IT service desk costs by 66% through redirected staff time.
ServiceNow sets third-quarter 2026 results for October 28 after the close
ServiceNow said it will report third-quarter 2026 results after the market close on Wednesday, October 28, with a conference call at 2 p.m.
Bundesliga names ServiceNow Official CRM Partner; 89% of fan questions resolved at first contact
The Bundesliga named ServiceNow its Official CRM Partner, on top of the Official Workflow Partner role from 2025.
ServiceNow launches AI Workflow Factory, a continuous loop for process improvement
ServiceNow launched AI Workflow Factory, a repeating loop in which Process Mining finds business processes to change, Autonomous Engineer and Build Agent build the fixes, and App Engine runs them at scale.
ServiceNow launches Flow, an AI service desk that can be running in a day
ServiceNow launched Flow by ServiceNow, a conversational AI service desk that runs in the chat tools employees already use.
ServiceNow completes Sweep acquisition to add agentic AI for CRM
ServiceNow confirmed it completed its acquisition of Sweep, an Israeli AI startup, on September 1, 2026.
President Paul Fipps sells 2,034 ServiceNow shares at about $147.87
Paul Fipps, President of Global Customer Operations, sold 2,034 ServiceNow shares on August 31, 2026, at a weighted average price of $147.87, according to a Form 4 signed September 1.
ServiceNow shares rise 10% on Salesforce read-through with no company news
ServiceNow shares rose 10.04% to $138.43 on Thursday, August 27, from $125.80 the day before.
Director Paul Chamberlain sells 2,700 ServiceNow shares at about $135.50
Director Paul Chamberlain sold 2,700 shares of ServiceNow common stock on August 27, 2026, at a weighted average price of $135.50, according to a Form 4 signed August 31.
Salesforce beats on Agentforce growth and raises FY27 revenue guidance, lifting software peers
Salesforce reported second-quarter fiscal 2027 revenue of $11.3 billion, up 11%, and non-GAAP EPS of $5.90.
Tech Mahindra and ServiceNow expand multi-year partnership to move enterprise AI into production
Tech Mahindra and ServiceNow expanded their multi-year partnership to move enterprise AI from pilots into production.
TeamViewer and ServiceNow launch multi-year partnership for autonomous IT operations
TeamViewer and ServiceNow agreed a multi-year partnership to integrate TeamViewer's Digital Employee Experience and Remote Connectivity products with the ServiceNow AI Platform.
ServiceNow reports fiscal Q2 2026 results: revenue $3.99B, up 24% from a year earlier
ServiceNow filed a Form 8-K with the SEC on Jul 22, 2026, 4:11 PM ET, reporting an event dated Jul 22, 2026.
ServiceNow names Anthropic first design partner for Action Fabric and deepens NVIDIA tie-up
In its second-quarter release, ServiceNow said Anthropic became the first design partner for Action Fabric, which lets ServiceNow and third-party AI agents take governed actions through ServiceNow workflows.
Guggenheim upgrades ServiceNow to Buy with $125 target on valuation
Guggenheim analyst John DiFucci raised ServiceNow to Buy from Neutral with a $125 price target.
ServiceNow buys Israeli AI agent startup ai.work
ServiceNow acquired ai.work, an Israeli startup that builds AI agents for internal business processes such as IT, operations and finance.
ServiceNow bought back no stock in Q2 2026 after about $2.2 billion of repurchases in the first half
ServiceNow repurchased no common stock in the April to June quarter, according to its quarterly report.
ServiceNow and IBM expand collaboration on enterprise data and legacy application modernization
ServiceNow and IBM agreed an expanded, multi-year collaboration aimed at two obstacles to enterprise AI: data that is not ready for AI and older application layers.
Cognizant and ServiceNow partner to link AI governance platforms
Cognizant and ServiceNow announced a partnership that connects Cognizant's Neuro AI Trust platform with ServiceNow's AI Control Tower for ongoing AI governance.
ServiceNow Action Fabric opens platform to any AI agent through MCP server
At Knowledge 2026 ServiceNow launched Action Fabric, which lets AI agents built on or outside its platform run governed enterprise actions through a Model Context Protocol server.
ServiceNow expands AI specialists into CRM, employee service and security
ServiceNow added AI specialist agents at Knowledge 2026 beyond its IT service desk, covering CRM, employee service, and security and risk.
ServiceNow and NVIDIA extend AI agent governance to desktops and data centers
ServiceNow expanded its NVIDIA partnership to govern AI agents from employee desktops to data centers.
ServiceNow Financial Analyst Day targets more than $30B subscription revenue by 2030
At its Financial Analyst Day in Las Vegas on May 4, 2026, ServiceNow set 2030 targets, led by subscription revenue above $30 billion.
ServiceNow sells $4 billion of senior notes, due 2028 to 2056, to repay Armis loan
In May 2026 ServiceNow issued $4.0 billion of fixed-rate senior unsecured notes in five series maturing between 2028 and 2056.
ServiceNow and Google Cloud widen AI agent partnership to telecom, retail and IT operations
ServiceNow expanded its partnership with Google Cloud to run AI agents across telecom networks, retail operations and IT incident management.
ServiceNow Q1 2026 beats and raises subscription guide; Middle East deal delays hit shares
ServiceNow reported first-quarter 2026 total revenue of $3.77 billion, up 22%, and subscription revenue of $3.67 billion, also up 22%, and it beat the high end of its guidance.
ServiceNow completes $7.75 billion cash acquisition of Armis
ServiceNow completed its acquisition of Armis on April 20, 2026, paying about $7.75 billion in cash funded from cash on hand and debt.
ServiceNow fully draws $4 billion term loan to fund Armis purchase
On April 17, 2026 ServiceNow borrowed the full $4.0 billion of a senior unsecured term loan to help pay the cash price of Armis.
UBS downgrades ServiceNow to Neutral and cuts target to $100 from $170
UBS cut ServiceNow to Neutral from Buy and lowered its price target to $100 from $170, a cut of about 41%.
ServiceNow replaces its five license tiers with Foundation, Advanced and Prime AI bundles
From April 9, 2026 ServiceNow sells its products in three tiers ordered by AI maturity: Foundation for generative AI tasks, Advanced for agent-executed workflows, and Prime for replacing roles such as Level 1 service desk with AI agents.
SEC filings
| Sep 1, 26 | 4 | Form 4: Fipps Paul (President, Global Customer Ops) — open-market sale 2,034 sh | sec.gov ↗ |
| Sep 1, 26 | 4 | Form 4: Canney Jacqueline P (Chief People & AI Enblmt. Off.) — open-market sale 7,847 sh | sec.gov ↗ |
| Aug 31, 26 | 4 | Form 4: Chamberlain Paul Edward (Director) — open-market sale 2,700 sh | sec.gov ↗ |
| Aug 31, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 28, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 27, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 20, 26 | S-8 | S-8: Employee plan share registration | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: McDermott William R (Chairman & CEO, Director) — option exercise 4,160 sh, tax withholding 2,236 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Canney Jacqueline P (Chief People & AI Enblmt. Off.) — option exercise 970 sh, tax withholding 496 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Fipps Paul (President, Global Customer Ops) — option exercise 640 sh, tax withholding 256 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Fontaine Danielle (Principal Accounting Officer) — option exercise 485 sh, tax withholding 168 sh | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Mastantuono Gina (President and CFO) — option exercise 1,595 sh, tax withholding 858 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: McDermott William R (Chairman & CEO, Director) — option exercise 15,152 sh, tax withholding 8,145 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Fipps Paul (President, Global Customer Ops) — option exercise 7,652 sh, tax withholding 3,057 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Nowbar Hossein (Pres. & Chief Legal Officer) — option exercise 5,066 sh, tax withholding 1,995 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Canney Jacqueline P (Chief People & AI Enblmt. Off.) — option exercise 5,056 sh, tax withholding 2,582 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Zavery Amit (President, CPO and COO) — option exercise 10,315 sh, tax withholding 5,546 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Mastantuono Gina (President and CFO) — option exercise 7,957 sh, tax withholding 4,278 sh | sec.gov ↗ |
| Aug 18, 26 | 4 | Form 4: Fontaine Danielle (Principal Accounting Officer) — option exercise 975 sh, tax withholding 338 sh | sec.gov ↗ |
| Aug 17, 26 | 4 | Form 4: Chamberlain Paul Edward (Director) — open-market sale 1,500 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: Fipps Paul (President, Global Customer Ops) — option exercise 5,435 sh, tax withholding 2,172 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: Mastantuono Gina (President and CFO) — option exercise 3,945 sh, tax withholding 2,121 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: Zavery Amit (President, CPO and COO) — option exercise 9,990 sh, tax withholding 5,370 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: McDermott William R (Chairman & CEO, Director) — option exercise 8,765 sh, tax withholding 4,712 sh | sec.gov ↗ |
| Aug 11, 26 | 4 | Form 4: Canney Jacqueline P (Chief People & AI Enblmt. Off.) — option exercise 2,630 sh, tax withholding 1,343 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-31 | Fipps Paul President, Global Customer Ops | Sale | 2.0K | $147.87 | $300.8K |
| 2026-08-28 | Canney Jacqueline P Chief People & AI Enblmt. Off. | Sale 10b5-1 plan | 7.8K | $138.00 | $1.1M |
| 2026-08-27 | Chamberlain Paul Edward Director | Sale | 2.7K | $135.50 | $365.9K |
| 2026-08-13 | Chamberlain Paul Edward Director | Sale 10b5-1 plan | 1.5K | $125.60 | $188.4K |
| 2026-05-28 | Briggs Teresa Director | Sale | 1.6K | $108.70 | $173.4K |
| 2026-05-18 | Fipps Paul President, Global Customer Ops | Sale 10b5-1 plan | 1.0K | $98.51 | $103.2K |
| 2026-05-14 | Chamberlain Paul Edward Director | Sale 10b5-1 plan | 1.5K | $87.23 | $130.8K |
| 2026-05-14 | Sands Anita M Director | Sale | 16.4K | $90.14 | $1.5M |
| 2026-05-08 | Fipps Paul President, Global Customer Ops | Sale 10b5-1 plan | 151 | $90.47 | $13.7K |
| 2026-04-24 | Canney Jacqueline P Chief People & AI Enblmt. Off. | Sale | 8.9K | $89.60 | $799.9K |
| 2026-02-27 | McDermott William R Chairman & CEO, Director | Buy 10b5-1 plan | 28.7K | $104.60 | $3.0M |
| 2026-02-23 | Fipps Paul President, Global Customer Ops | Sale 10b5-1 plan | 3.7K | $101.77 | $376.1K |
| 2026-02-18 | Fipps Paul President, Global Customer Ops | Sale 10b5-1 plan | 9.6K | $105.93 | $1.0M |
| 2026-02-13 | McBride Kevin Thomas Principal Accounting Officer | Sale 10b5-1 plan | 1.4K | $105.71 | $148.0K |
| 2026-02-12 | Chamberlain Paul Edward Director | Sale 10b5-1 plan | 1.5K | $101.17 | $151.8K |