Servicenow increased sales and profits in the fourth quarter and full year of 2020. The platform provider’s sales last year exceeded $5 billion. Compared with the previous year, this is equivalent to a 30% increase in sales. The company also achieved a profit of US$119 million during this period. The company currently has 1,093 customers with an annual contract value of more than $1 million.
Subscription revenue for the fourth quarter of 2020 was $1.184 billion. Compared with the previous year, this is equivalent to an increase of 32%. The subscription fee for the fourth quarter was $1.828 billion. According to a Servicenow report, this is an increase of 38% compared to the previous year.
Bill McDermott from SAP has been in charge of the company founded by Fred Luddy in 2004 since 2019. He replaced John Donahoe. Servicenow provides a cloud computing platform through which companies can replace manual work with digital workflows.
At the end of October, Servicenow grabbed Element AI, a deep learning expert. More information here.
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