ServiceNow Inc
NYSE:NOW

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ServiceNow Inc
NYSE:NOW
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Price: 1 032.01 USD -1.63%
Market Cap: 212.6B USD

ServiceNow Inc
Investor Relations

In the bustling world of digital transformation, ServiceNow Inc. stands out as a pivotal player, driving operational efficiency for organizations globally. Founded in 2004 by Fred Luddy, the company emerged from the desire to revolutionize the way enterprises manage their IT services. Initially focusing on IT service management (ITSM), ServiceNow capitalized on the pressing need for businesses to streamline their operations in a rapidly digitizing market. The cloud-based platform became a vital tool, offering a single system of record for IT processes, which was not only innovative at the time but also critically necessary. By providing this seamless digital workflow, ServiceNow quickly earned its reputation as a linchpin in IT service management, serving a wide array of industries from healthcare to banking.

ServiceNow's business model thrives on a subscription-based approach. Organizations subscribe to its suite of applications which span beyond IT to incorporate areas like HR, customer service, and security operations. By continually expanding its offerings to include these broader enterprise functions through its Now Platform, ServiceNow ensures steady revenue streams and deepens its integration into a company's daily workflow. This strategy cushions the company against the cyclicality challenges typical in software sales. Instead of one-off transactions, ServiceNow builds enduring relationships with its clients, promising regular updates and enhancements to its suite. This continuous value addition not only fortifies client retention but also aligns ServiceNow's growth with the digital evolution of its customers. In essence, the company earns its keep by ensuring that businesses keep running smoothly in an increasingly complex digital landscape.

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Earnings Calls

2024 Q3
Oct 23, 2024
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ServiceNow Reports Strong Q3 Growth and Raises 2024 Revenue Guidance
2024 Q3
Oct 23, 2024

In Q3 2024, ServiceNow showcased impressive performance, with subscription revenues hitting $2.715 billion, up 22.5% year-over-year. This exceeded guidance by 200 basis points. The company expects 2024 subscription revenues between $10.655 billion and $10.66 billion, marking 23% year-over-year growth. Key highlights included a remarkable escalation in contract renewals and large deals, with 96 deals exceeding $1 million in new annual contract value. Notably, the AI platform, Now Assist, has gained traction, adding 44 customers spending more than $1 million. With an operating margin of 31% and significant cash reserves, ServiceNow is well-positioned for sustained growth.

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Management

Mr. William R. McDermott
Chairman & CEO

William R. "Bill" McDermott is a prominent business executive known for his leadership at ServiceNow Inc., where he serves as the CEO. McDermott joined ServiceNow in 2019, bringing his extensive experience in leading global technology companies. Before joining ServiceNow, he was the CEO of SAP SE from 2014 to 2019, where he played a critical role in transforming the company into a leading player in the enterprise software market. At ServiceNow, McDermott has focused on expanding the company's cloud-based software offerings and enhancing its position in the digital workflow market. Under his leadership, ServiceNow has seen significant growth, emphasizing innovation and customer service to drive digital transformation for its clients. McDermott is known for his dynamic leadership style and strategic vision, which have been instrumental in ServiceNow's success in the competitive tech industry. He is also recognized for his commitment to corporate culture and employee engagement, which has helped cultivate a strong, motivated workforce at ServiceNow. In addition to his business achievements, Bill McDermott has been an advocate for diversity and inclusion, both within his company and in the broader business community. His contributions to the tech industry and his focus on building inclusive workplaces have earned him recognition as a leading figure in modern corporate leadership.

Mr. Frederic B. Luddy
Founder & Director

Frederic B. Luddy is the founder of ServiceNow Inc., a cloud computing company specializing in IT service management. Luddy established ServiceNow in 2004, and under his leadership as CEO, the company grew rapidly, offering a platform to streamline and automate a variety of IT enterprise processes. Before founding ServiceNow, Luddy had a wealth of experience in the technology industry, serving as CTO for Peregrine Systems and working at Remedy Corporation, where he honed his expertise in service management software. Luddy's visionary approach to leveraging the cloud for enterprise IT solutions positioned ServiceNow as a leader in its field. Over time, he transitioned from the role of CEO to other leadership roles within the company, continuing to influence its strategic direction. His contributions have been pivotal in shaping how businesses manage and deliver IT services, making ServiceNow a key player in the industry.

Ms. Gina M. Mastantuono
Chief Financial Officer

Gina M. Mastantuono is recognized for her role as the Chief Financial Officer (CFO) of ServiceNow Inc., a leading enterprise cloud computing company. In this capacity, she oversees the company's global finance organization, including financial planning and analysis, accounting, investor relations, tax, treasury, and internal audit. Mastantuono joined ServiceNow in January 2020, bringing with her a wealth of experience from her previous leadership positions. Before joining ServiceNow, she served as CFO at Ingram Micro, a global technology and supply chain company, where she was responsible for financial operations and played a key role in strategic initiatives, mergers, and acquisitions. Prior to Ingram Micro, Mastantuono held several senior financial roles at other major firms, including Revlon and InterActiveCorp (IAC). Gina Mastantuono is known for her leadership in driving growth and operational efficiencies, focusing on innovation in digital transformation, and fostering team collaboration and development. She is also recognized for her efforts in promoting diversity and inclusion within corporate environments. Known for her strategic acumen, Mastantuono has been influential in navigating complex financial landscapes and helping organizations achieve their long-term goals.

Ms. Jacqueline P. Canney
Chief People Officer

Jacqueline P. Canney is a well-respected leader in human resources and talent management. She currently serves as the Chief People Officer at ServiceNow, Inc., a leading digital workflow company that makes work, work better for people. In her role, Canney is responsible for overseeing the company's global talent strategy, ensuring that ServiceNow attracts, develops, and retains a diverse and engaged workforce. Prior to joining ServiceNow, Canney held significant HR leadership roles in several major corporations. She served as the Chief People Officer for WPP, the world's largest advertising and public relations company, where she guided strategic HR initiatives across a vast network of companies. Before her tenure at WPP, she was the Executive Vice President of the Global People Division at Walmart, where she was instrumental in transforming the company's approach to talent management and associate engagement amidst a rapidly changing retail landscape. Her career has been marked by a commitment to fostering inclusive workplaces and championing diversity. Canney is recognized for her strategic vision and her ability to align people strategies with business objectives, promoting cultures that support innovation, collaboration, and growth. Throughout her career, Jacqueline P. Canney has been an advocate for creating equitable work environments, leveraging her extensive experience to implement progressive HR practices that drive both employee satisfaction and business success.

Mr. Paul Smith
Chief Commercial Officer
No Bio Available
Mr. Amit K. Zavery
President, Chief Product Officer & COO

Amit K. Zavery is a notable executive in the technology industry, recognized for his leadership and expertise in cloud computing and enterprise software. Prior to his role at ServiceNow Inc., Zavery was instrumental at Google Cloud, where he served as Vice President and Head of Platform. In this role, he was responsible for overseeing the development and delivery of Google Cloud's platform services, including the Google Cloud Console, API management, and various developer tools. Before his tenure at Google, Zavery held a significant position at Oracle, where he spent over two decades in various leadership roles. As Executive Vice President and General Manager of Oracle Cloud Platform and Middleware products, he played a crucial role in advancing Oracle's cloud offerings and overseeing critical technologies like Java, Oracle Integration Cloud, and API management tools. His strategic vision and leadership skills garnered respect across the tech industry, contributing to the growth and innovation in cloud technologies. Zavery holds a master's degree in Computer Science from North Carolina State University and a bachelor's degree in Computer Engineering from Gujarat University, India. His deep technical knowledge, coupled with extensive management experience, makes him a key figure in driving technological transformation and innovation.

Mr. Kevin Thomas McBride
Senior VP, Corporate Controller & Chief Accounting Officer

Kevin Thomas McBride is the Chief Accounting Officer and Senior Vice President at ServiceNow, Inc. He joined ServiceNow in 2016, bringing with him extensive experience in financial management and accounting. Before his tenure at ServiceNow, Kevin McBride served in significant roles at various prominent companies. At ServiceNow, McBride is responsible for overseeing the global accounting functions, ensuring compliance with financial regulations, and contributing to the company’s financial strategy and planning. His leadership has been instrumental in maintaining the company’s financial integrity and supporting its growth objectives. Before joining ServiceNow, Kevin McBride held key positions at Intuit, where he worked for over a decade, including roles such as Vice President of Corporate Accounting and Financial Reporting. Throughout his career, he has developed a strong reputation for his expertise in scaling accounting operations, implementing financial systems, and leading teams through significant organizational transformations. His career also includes positions at other major companies, including Ernst & Young, where he gained valuable experience in auditing and financial consulting. McBride is a certified public accountant and holds a Bachelor’s degree in Accounting from a reputable institution. Kevin McBride’s contributions to ServiceNow are marked by his deep understanding of financial processes and commitment to enhancing the company's accounting capabilities in alignment with its strategic objectives.

Mr. Pat Casey
CTO & EVP of Dev Ops

Pat Casey is a notable technology executive recognized for his contributions at ServiceNow, Inc., a leading enterprise cloud computing company specializing in IT service management. As of his tenure, he was appointed as the Chief Technology Officer (CTO) at ServiceNow, where he played a pivotal role in driving technological innovation and overseeing the company's platform development and cloud infrastructure. His leadership was instrumental in scaling ServiceNow's cloud services and enhancing its capabilities in AI and machine learning to provide better solutions for customers' digital transformation needs. Before joining ServiceNow, Pat Casey gained valuable experience in technology leadership roles at various firms, where he honed his skills in software development and IT operations. His expertise and vision have been integral in advancing ServiceNow's mission to improve work processes across various industries.

Mr. Darren Yip
Head of Investor Relations

Darren Yip is a notable executive at ServiceNow, Inc., where he has made significant contributions to the company's strategic growth and operations. Serving in a key leadership role, he focuses on expanding ServiceNow's market presence and enhancing its customer engagement and satisfaction. With a strong background in technology and business, Darren Yip is recognized for his expertise in driving digital transformation initiatives and fostering innovation within the organization. His leadership style emphasizes collaboration, agility, and a customer-centric approach, which has helped ServiceNow maintain its position as a leader in enterprise cloud computing solutions.

Mr. Russell S. Elmer J.D.
General Counsel & Secretary

Russell S. Elmer holds the position of General Counsel at ServiceNow Inc., where he is responsible for leading the company's legal affairs and providing strategic guidance on corporate governance, compliance, and legal matters. Prior to joining ServiceNow, Russell Elmer served in several key legal leadership roles across prominent organizations. He has been recognized for his expertise in corporate law and his ability to navigate complex legal landscapes. Before his tenure at ServiceNow, Elmer gained substantial experience in the technology and financial sectors. He has served as General Counsel at LendingClub, where he was instrumental in overseeing legal functions and regulatory compliance. Elmer also held significant legal roles at companies such as eBay, where he contributed to corporate governance and regulatory strategies. Elmer holds a Juris Doctor (J.D.) degree, underscoring his extensive legal training and qualifications. Throughout his career, he has been acknowledged for effectively managing legal risks and aligning legal strategies with business objectives, making significant contributions to the growth and stability of the organizations he has been part of.

Contacts

Address
CALIFORNIA
Santa Clara
2225 Lawson Ln
Contacts
+14085018550.0
www.servicenow.com