NOW
ServiceNow, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for ServiceNow, Inc..
Coverage
Our Own Explainer Says the Rule of 40 Captures Stock Compensation 'Not Perfectly'. Here Is How Imperfectly.
The four companies our Rule of 40 explainer praises pay 14.5-21.5% of revenue in stock compensation. Subtract it and two fall below 40. How big the gap is.
ServiceNow Q2 2026: A Beat That Cleared the Real Bar, Not Just the Official One
ServiceNow fell 6.5% before earnings on sector-wide AI anxiety, then rallied 5% after beating every guided metric and crossing $1 billion in AI annual contract value. We unpack why this beat was solid rather than spectacular once measured against what sophisticated investors already expected, and how it differs from April's guidance-cut crash.
ServiceNow Is Down 45% While Beating Every Estimate. The Market Is Scared of the Wrong Thing.
ServiceNow beat on revenue, EPS, and guidance — then lost half its value. The SaaS-is-dead narrative is overblown. Here's why.
Where the revenue goes next
Latest: $3.99B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $2.10B |
| 2023Q2 | $2.15B |
| 2023Q3 | $2.29B |
| 2023Q4 | $2.44B |
| 2024Q1 | $2.60B |
| 2024Q2 | $2.63B |
| 2024Q3 | $2.80B |
| 2024Q4 | $2.96B |
| 2025Q1 | $3.09B |
| 2025Q2 | $3.21B |
| 2025Q3 | $3.41B |
| 2025Q4 | $3.57B |
| 2026Q1 | $3.77B |
| 2026Q2 | $3.99B |
Latest: $0.29 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $0.15 |
| 2023Q2 | $1.02 |
| 2023Q3 | $0.23 |
| 2023Q4 | $0.28 |
| 2024Q1 | $0.33 |
| 2024Q2 | $0.25 |
| 2024Q3 | $0.41 |
| 2024Q4 | $0.37 |
| 2025Q1 | $0.44 |
| 2025Q2 | $0.37 |
| 2025Q3 | $0.48 |
| 2025Q4 | $0.38 |
| 2026Q1 | $0.45 |
| 2026Q2 | $0.29 |
Latest: 62.0 (2026Q2)
| Period | Value |
|---|---|
| 2023Q4 | 84.1 |
| 2024Q1 | 82.0 |
| 2024Q2 | 144.3 |
| 2024Q3 | 140.8 |
| 2024Q4 | 155.9 |
| 2025Q1 | 108.3 |
| 2025Q2 | 129.3 |
| 2025Q3 | 110.9 |
| 2025Q4 | 91.7 |
| 2026Q1 | 62.2 |
| 2026Q2 | 62.0 |
Latest: $473M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $737M |
| 2023Q2 | $448M |
| 2023Q3 | $175M |
| 2023Q4 | $1.34B |
| 2024Q1 | $1.21B |
| 2024Q2 | $358M |
| 2024Q3 | $469M |
| 2024Q4 | $1.38B |
| 2025Q1 | $1.47B |
| 2025Q2 | $526M |
| 2025Q3 | $578M |
| 2025Q4 | $2.00B |
| 2026Q1 | $1.53B |
| 2026Q2 | $473M |
Latest: 1.03B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | 204M |
| 2023Q2 | 205M |
| 2023Q3 | 206M |
| 2024Q1 | 208M |
| 2024Q2 | 208M |
| 2024Q3 | 209M |
| 2025Q1 | 209M |
| 2025Q2 | 209M |
| 2025Q3 | 210M |
| 2026Q1 | 1.04B |
| 2026Q2 | 1.03B |
Latest: $12.70B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $737M |
| 2023Q2 | $1.19B |
| 2023Q3 | $1.36B |
| 2023Q4 | $2.70B |
| 2024Q1 | $3.91B |
| 2024Q2 | $4.27B |
| 2024Q3 | $4.74B |
| 2024Q4 | $6.12B |
| 2025Q1 | $7.59B |
| 2025Q2 | $8.12B |
| 2025Q3 | $8.70B |
| 2025Q4 | $10.70B |
| 2026Q1 | $12.22B |
| 2026Q2 | $12.70B |
Latest earnings
Company History
Launched as Glidesoft, focusing on IT service management (ITSM) automation; sets foundation for cloud-based workflow disruption.
Raises $210M in June public offering; marks transition to high-growth SaaS stock amid shift from on-premise IT tools.
Introduces broader workflow capabilities (HR, customer service); narrative shifts to
Former SAP chief takes helm; aggressive sales push and integrations drive subscription growth surge, elevating to mega-cap status.
Remote work boom accelerates adoption; acquisitions like Element AI bolster early AI capabilities, reframing as future-proof platform.
Major platform update integrates GenAI tools; ignites stock rally on
Multiple buys enhance AI portfolio; solidifies narrative as leading enterprise AI workflow orchestrator with massive deal wins.
Strong results but cautious guidance trigger sharp selloff (-35%+); shifts sentiment from unchecked AI growth to proof-of-monetization scrutiny.
Key Players
The CEO view — 7 podcasts, interviews & articles →
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Funds we follow holding NOW
By latest reported 13F position value. Market value at quarter-end, not cost basis.
