ServiceNow Q4 2020 Earnings Report
Key Takeaways
ServiceNow reported strong Q4 2020 results, with subscription revenues growing 32% year-over-year. The company closed 89 transactions with more than $1 million in net new ACV and now has 1,093 total customers with more than $1 million in ACV. ServiceNow beat expectations and is focused on becoming the defining enterprise software company of the 21st century.
Subscription revenues reached $1,184 million, a 32% increase year-over-year.
Subscription billings totaled $1,828 million, reflecting a 41% year-over-year growth.
Closed 89 transactions with more than $1 million in net new annual contract value (ACV).
The company now has 1,093 total customers with more than $1 million in ACV, representing 23% year-over-year growth in customers.
ServiceNow
ServiceNow
ServiceNow Revenue by Segment
Forward Guidance
ServiceNow will provide forward-looking guidance in connection with this quarterly announcement on its earnings conference call and webcast, and it will introduce current remaining performance obligations (“cRPO”) as a new guidance metric for Q1 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income