ServiceNow Q1 2021 Earnings Report

ServiceNow's Q1 2021 financial results were reported, showcasing substantial growth in subscription revenues and customer base.

Key Takeaways

ServiceNow reported a strong start to 2021, with significant growth in subscription revenues and remaining performance obligations. The company's focus on digital transformation and continuous innovation drove the results, with subscription revenues increasing by 30% year-over-year and current remaining performance obligations growing by 33%.

Subscription revenues reached $1,293 million, marking a 30% year-over-year increase.

Current remaining performance obligations totaled $4.4 billion, a 33% increase year-over-year.

The company's customer base with over $1 million in annual contract value grew to 1,146, representing a 23% year-over-year increase.

ServiceNow launched the Now Platform Quebec release and acquired Intellibot to enhance workflow automation capabilities.

Total Revenue

$1.36B

Previous year: $1.05B