ServiceNow Files 2024 10-K with Financials

Ticker: NOW · Form: 10-K · Filed: 2025-01-30T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, financials, annual-report

TL;DR

ServiceNow's 2024 10-K is in! Full financials for the year ending Dec 31, 2024, are out.

AI Summary

ServiceNow, Inc. filed its 2024 10-K on January 30, 2025, reporting financial results for the fiscal year ending December 31, 2024. The filing details revenue from contract with customer, excluding assessed taxes, and breaks down costs of sales for its License and Service segments. Key financial data for the fiscal years 2022, 2023, and 2024 are presented, providing a comprehensive overview of the company's performance.

Why It Matters

This filing provides investors and analysts with the official financial performance of ServiceNow for the 2024 fiscal year, crucial for understanding the company's growth and profitability trends.

Risk Assessment

Risk Level: low — This is a standard annual financial filing (10-K) and does not inherently present new risks beyond those typically associated with public company reporting.

Key Numbers

Key Players & Entities

FAQ

What is the total revenue from contract with customer for the fiscal year 2024?

The filing indicates revenue from contract with customer for the period 2024-01-01 to 2024-12-31, but the specific dollar amount is not provided in this excerpt.

What were the costs of sales for the License and Service segments in 2023?

The filing references costs of sales for us-gaap:LicenseAndServiceMember and us-gaap:TechnologyServiceMember for the period 2023-01-01 to 2023-12-31, but specific dollar amounts are not detailed in this excerpt.

When did ServiceNow, Inc. change its former company name?

The company's former name was SERVICE-NOW.COM, and the date of the name change was 20060823.

What is ServiceNow's Standard Industrial Classification (SIC) code?

ServiceNow, Inc.'s SIC code is 7372, categorized under SERVICES-PREPACKAGED SOFTWARE.

What is the business address of ServiceNow, Inc.?

The business address is 2225 LAWSON LANE, SANTA CLARA, CA 95054.

Filing Stats: 4,233 words · 17 min read · ~14 pages · Grade level 18 · Accepted 2025-01-29 21:49:31

Key Financial Figures

Filing Documents

Business

Item 1 Business 1

Risk Factors

Item 1A Risk Factors 14

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 29 Item 1C Cybersecurity 30

Properties

Item 2 Properties 33

Legal Proceedings

Item 3 Legal Proceedings 33

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 33 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 34

[Reserved]

Item 6 [Reserved] 37

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

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 37

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 52

Consolidated Financial Statements and Supplementary Data

Item 8 Consolidated Financial Statements and Supplementary Data 54

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 88

Controls and Procedures

Item 9A Controls and Procedures 88

Other Information

Item 9B Other Information 89

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 89 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 89

Executive Compensation

Item 11 Executive Compensation 89

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 89

Certain Relationships and Related Transactions and Director Independence

Item 13 Certain Relationships and Related Transactions and Director Independence 89

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 89 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 90

Form 10-K Summary

Item 16 Form 10-K Summary 91 Exhibit Index 91

Signatures

Signatures 94 Table of Contents PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements regarding future events and our future results that are based on our current expectations, estimates, forecasts and projections about our business, our results of operations, the industry in which we operate and the beliefs and assumptions of our management. Words such as "believe," "may," "will," "estimate," "continue," "anticipate," "would," "could," "should," "intend" and "expect," as well as variations of these words and similar expressions, are intended to identify those forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties, assumptions and other factors that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in this Annual Report under "Risk Factors" in Item 1A of Part I and elsewhere herein and in other reports we file with the Securities and Exchange Commission ("SEC"). While forward-looking statements are based on our management's reasonable expectations at the time that they are made, you should not rely on those statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, whether as a result of new information, future events or otherwise, except as may be required by law.

BUSINESS

ITEM 1. BUSINESS ServiceNow was founded on a simple premise: to make work flow better. Our intelligent platform—the Now Platform—is a cloud-based solution that helps enterprises and organizations across public and private sectors digitize workflows, in line with our purpose of making the world work better for everyone. Organizations are increasingly turning to digital investments to streamline business-critical processes, drive deeper collaboration, increase employee productivity and power better customer experiences. The Now Platform helps business leaders realize value from these investments by incorporating advanced technology into the flow of work, end-to-end across the enterprise, for every department and persona. The workflow applications built on the Now Platform are organized in four primary areas: Technology, Customer and Industry, Employee and Creator. Our Technology Workflows empower Information Technology ("IT") departments to plan, build, operate and service the IT needs of the business enterprise. Our Customer and Industry Workflows help organizations reimagine their customer experience by empowering their customers with personalized self-service and providing organizations with greater ability to anticipate their customer needs by providing real-time insights. Our Employee Workflows help customers simplify how their employees access services they need, creating a consumer-like experience. Our Creator Workflows enable customers to automate processes by quickly creating their own custom workflows on the Now Platform. Artificial Intelligence ("AI"), particularly Generative AI ("GenAI") and agentic AI, is driving a new wave of technology transformation. We are an early leader in applying AI to enterprise workflows and are working to remain at the forefront of AI as we continue to execute our product roadmap. As an AI platform for business transformation, the Now Platform has embedded Now Assist, our AI solution available for certain products at an a

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