ServiceNow Files Q3 2024 10-Q

TL;DR

ServiceNow's Q3 2024 10-Q is in: Revenue details from contracts are here.

AI Summary

ServiceNow, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported revenue from contracts with customers, excluding any assessed taxes. Specific dollar amounts and dates for revenue and costs are detailed within the filing, reflecting the company's financial performance for the third quarter and year-to-date.

Why It Matters

This filing provides investors and analysts with the official financial results for ServiceNow's third quarter of 2024, crucial for understanding the company's revenue streams and operational costs.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-10-24 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024-01-01 to 2024-09-30 — Year-to-Date Period (Covers the first nine months of the fiscal year 2024.)
• 2023-01-01 to 2023-09-30 — Prior Year-to-Date Period (Provides a comparison point for the first nine months of fiscal year 2023.)

Key Players & Entities

• ServiceNow, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241024 (date) — Date of filing
• 2024 Q3 (period) — Quarter being reported

FAQ

Key Financial Figures

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

Filing Documents

• now-20240930.htm (10-Q) — 1323KB
• now-20240930xex311.htm (EX-31.1) — 10KB
• now-20240930xex312.htm (EX-31.2) — 10KB
• now-20240930xex321.htm (EX-32.1) — 5KB
• now-20240930xex322.htm (EX-32.2) — 5KB
• now-20240930_g1.jpg (GRAPHIC) — 63KB
• 0001373715-24-000344.txt ( ) — 7725KB
• now-20240930.xsd (EX-101.SCH) — 48KB
• now-20240930_cal.xml (EX-101.CAL) — 74KB
• now-20240930_def.xml (EX-101.DEF) — 263KB
• now-20240930_lab.xml (EX-101.LAB) — 711KB
• now-20240930_pre.xml (EX-101.PRE) — 485KB
• now-20240930_htm.xml (XML) — 988KB

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30. 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 34

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

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) September 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 1,885 $ 1,897 Short-term investments 3,410 2,980 Accounts receivable, net 1,308 2,036 Current portion of deferred commissions 502 461 Prepaid expenses and other current assets 591 403 Total current assets 7,696 7,777 Deferred commissions, less current portion 946 919 Long-term investments 3,829 3,203 Property and equipment, net 1,718 1,358 Operating lease right-of-use assets 661 715 Intangible assets, net 214 224 Goodwill 1,291 1,231 Deferred tax assets 1,444 1,508 Other assets 635 452 Total assets $ 18,434 $ 17,387 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 165 $ 126 Accrued expenses and other current liabilities 1,058 1,365 Current portion of deferred revenue 5,457 5,785 Current portion of operating lease liabilities 106 89 Total current liabilities 6,786 7,365 Deferred revenue, less current portion 77 81 Operating lease liabilities, less current portion 650 707 Long-term debt, net 1,489 1,488 Other long-term liabilities 142 118 Total liabilities 9,144 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: 207,693 and 205,619 ; shares outstanding: 206,317 and 204,724 — — Treasury stock, at cost (shares held: 1,376 and 895 ) ( 926 ) ( 535 ) Additional paid-in capital 7,126 6,131 Accumulated other comprehensive loss ( 20 ) ( 37 ) Retained earnings 3,110 2,069 Total stockholders' equity 9,290 7,628 Total liabilities and stockholders' equity $ 18,434 $ 17,387 See accompanying notes to condensed consolidated financial statements 1 Table of Contents SERV