ServiceNow announced its financial results for the first quarter ended March 31, 2021. During the period, subscription fees totaled US$1.293 billion, an increase of 30% over the first quarter of last year and an increase of 26% at a constant exchange rate.
As of March 31, 2021, current outstanding performance obligations (cRPO) representing contract revenues that will be settled in the next 12 months reached US$4.4 billion, a year-on-year increase of 33% and a year-on-year increase of 29%. Constant currency. The company currently has 1,146 customers with annual contracts worth more than $1 million. Compared with the first quarter of 2020, the proportion of these customers has increased by 23%.
During the quarter, the company delivered the Quebec version of the Now platform, with a new level of innovation to help the company flourish in the new working era. This includes the release of ServiceNow’s new Creator Workflow, which contains low-code tools that put application development in the hands of amateur developers. It also initiated vaccine management and helped transform the vaccine into immunity by coordinating the dose management process: vaccine delivery, delivery and monitoring.
The acquisition of Intellibot will enable ServiceNow to provide unparalleled intelligent workflow automation solutions, combining RPA, artificial intelligence, machine learning and process mining on the Now platform. ServiceNow also recently released its Global Impact Report, which showcases its environmental, social and governance initiatives that have a significant impact on the world.
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