ServiceNow Files Q2 2024 10-Q

Ticker: NOW · Form: 10-Q · Filed: 2024-07-25T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

TL;DR

ServiceNow's Q2 2024 10-Q is in. Check the numbers.

AI Summary

ServiceNow, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance for the second quarter of 2024, including revenue from contract with customer. Specific financial figures and operational details are provided within the report.

Why It Matters

This filing provides investors and analysts with the official financial results and operational details for ServiceNow in Q2 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Players & Entities

ServiceNow, Inc. (company) — Filer of the 10-Q
20240630 (date) — End of the reporting period
20240725 (date) — Filing date
2225 LAWSON LANE (location) — Company's business and mailing address
SANTA CLARA (location) — Company's city
CA (location) — Company's state
95054 (location) — Company's zip code

FAQ

What is the reporting period for this 10-Q filing?

The Conformed Period of Report is 20240630, indicating the period ending June 30, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on 20240725.

What is ServiceNow's primary business classification?

ServiceNow, Inc. is classified under SERVICES-PREPACKAGED SOFTWARE [7372].

What is the company's fiscal year end?

The company's fiscal year ends on 1231.

What is the SEC file number for ServiceNow?

The SEC file number is 001-35580.

Filing Stats: 4,854 words · 19 min read · ~16 pages · Grade level 19.1 · Accepted 2024-07-24 19:24:14

Key Financial Figures

$0.001 — ich registered Common stock, par value $0.001 per share NOW The New York Stock Exchan

Filing Documents

now-20240630.htm (10-Q) — 1270KB
now-20231231xex101xq224.htm (EX-10.1) — 8KB
now-20231231xex102xq224.htm (EX-10.2) — 55KB
now-20240630xex311.htm (EX-31.1) — 10KB
now-20240630xex312.htm (EX-31.2) — 10KB
now-20240630xex321.htm (EX-32.1) — 5KB
now-20240630xex322.htm (EX-32.2) — 5KB
image.jpg (GRAPHIC) — 6KB
now-20240630_g1.jpg (GRAPHIC) — 63KB
0001373715-24-000272.txt ( ) — 7562KB
now-20240630.xsd (EX-101.SCH) — 43KB
now-20240630_cal.xml (EX-101.CAL) — 74KB
now-20240630_def.xml (EX-101.DEF) — 252KB
now-20240630_lab.xml (EX-101.LAB) — 684KB
now-20240630_pre.xml (EX-101.PRE) — 471KB
now-20240630_htm.xml (XML) — 963KB

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30. 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 33 PART II

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 37

Signatures

Signatures i Table of Contents PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS SERVICENOW, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except number of shares which are reflected in thousands) June 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 2,159 $ 1,897 Short-term investments 3,254 2,980 Accounts receivable, net 1,518 2,036 Current portion of deferred commissions 482 461 Prepaid expenses and other current assets 608 403 Total current assets 8,021 7,777 Deferred commissions, less current portion 928 919 Long-term investments 3,472 3,203 Property and equipment, net 1,606 1,358 Operating lease right-of-use assets 675 715 Intangible assets, net 220 224 Goodwill 1,239 1,231 Deferred tax assets 1,447 1,508 Other assets 599 452 Total assets $ 18,207 $ 17,387 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 296 $ 126 Accrued expenses and other current liabilities 1,163 1,365 Current portion of deferred revenue 5,615 5,785 Current portion of operating lease liabilities 98 89 Total current liabilities 7,172 7,365 Deferred revenue, less current portion 85 81 Operating lease liabilities, less current portion 669 707 Long-term debt, net 1,488 1,488 Other long-term liabilities 127 118 Total liabilities 9,541 9,759 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value; shares authorized: 10,000 ; no shares issued or outstanding — — Common stock, $ 0.001 par value; shares authorized: 600,000 ; shares issued: 206,967 and 205,619 ; shares outstanding: 205,857 and 204,724 — — Treasury stock, at cost (shares held: 1,110 and 895 ) ( 704 ) ( 535 ) Additional paid-in capital 6,770 6,131 Accumulated other comprehensive loss ( 78 ) ( 37 ) Retained earnings 2,678 2,069 Total stockholders' equity 8,666 7,628 Total liabilities and stockholders' equity $ 18,207 $ 17,387 See accompanying notes to condensed consolidated financial statements 1 Table of Contents SERVICENOW