ServiceNow responds to the crisis and maintains optimistic forecasts

Despite the crisis, ServiceNow performed well in the first quarter and exceeded its financial forecast.

The Santa Clara company’s subscription revenue was US$995 million, a year-on-year increase of 34%. A year-on-year increase of 33%, total sales reached 1.046 billion US dollars. GAAP net income reached US$48 million, or US$0.25 per share. During the quarter, ServiceNow completed 37 transactions with an annual contract value (ACV) of more than $1 million, a year-on-year increase of 48%. The company claims that 933 customers generate an average of more than $1 million in revenue per year, an increase of 30% year-on-year.

“This epidemic allows us to attract customers in new ways, allowing them to focus on the most critical workflows,” ServiceNow CEO Bill McDermott (Bill McDermott) commented in the press release. “The company is separating the old value chain and recombining them into an end-to-end Now mobile platform. Our first quarter results directly reflect ServiceNow’s unique position as a workflow platform, even under these challenging conditions , It can also create an excellent experience for employees and customers. With our excellent team and culture, I have full confidence in the company’s long-term growth trajectory. “

“In the first quarter, we exceeded the upper limit of subscription revenue and billing forecasts. Operating revenue and free cash flow were another strong quarter. With our recurring revenue model, we are in a sound financial position to manage short-term uncertainty. And long-term growth”, For her part, Chief Financial Officer Gina Mastantuono (Gina Mastantuono) expects a full-year growth of 28% to 29%, with a turnover of US$4.1 billion.