Earnings release
Page 1
servicenow ServiceNow Reports Third Quarter 2021 Financial Results Subscription revenues of $ 1,427 million in Q3 2021 , representing 31 % year - over - year growth , 30 % adjusted for constant currency Current remaining performance obligations of $ 5.0 billion as of Q3 2021 , representing 32 % year - over - year growth , 32 % adjusted for constant currency 1,266 total customers with over $ 1 million in annual contract value , representing 25 % year - over - year growth SANTA CLARA , Calif . - October 27 , 2021 - ServiceNow ( NYSE : NOW ) , the leading digital workflow company making work , work better for people , today announced financial results for its third quarter ended September 30 , 2021 , with subscription revenues of $ 1,427 million in Q3 2021 , representing 31 % year - over - year growth , 30 % adjusted for constant currency . As of September 30 , 2021 , current remaining performance obligations ( “ cRPO ” ) , contract revenue that will be recognized as revenue in the next 12 months , was $ 5.0 billion , representing 32 % year - over - year growth and 32 % adjusted for constant currency . The company now has 1,266 total customers with more than $ 1 million in annual contract value , representing 25 % year - over - year growth in customers . " We reported another significant beat and raise quarter in Q3 , " said ServiceNow President and CEO Bill McDermott . " Leaders recognize their technology architecture is their business architecture . As this digital transformation market is accelerating , ServiceNow's platform is creating unmatched customer and employee experiences . We remain hungry and humble in our pursuit of becoming the defining enterprise software company of the 21st century . Our focus is on value creation for our stakeholders by making the world work better for everyone . " ServiceNow CFO Gina Mastantuono said , “ Q3 was another fantastic quarter with continued outperformance across all of our growth and profitability guidance metrics . The consistency of our results exemplifies the strength of our product portfolio and the team's focus on building deep customer relationships . We are well positioned as the workflow standard on our journey to becoming a $ 15 + billion revenue company . " During the quarter , ServiceNow delivered the Now Platform Rome release , including hundreds of innovations to help companies workflow the biggest challenges of the hybrid work era and scale automation and app development across the enterprise . ServiceNow deepened its strategic partnership with Microsoft to integrate Employee Center directly with Teams and expand investments in co - innovation and go - to - market efforts . The company completed the acquisitions of Swarm64 , a leader in database performance and scale , and Mapwize , an indoor - mapping and wayfinding company . ServiceNow also recently announced a strategic partnership with process mining market leader Celonis to help companies maximize the impact and return on their digital transformation investments . Furthering its vision to workflow a better world , the company accelerated its global commitment to achieve Net - Zero greenhouse gas emissions by 2030 and introduced a new integrated ESG solution that helps companies activate ESG strategies , programs , and initiatives , from enhancing diversity and inclusion and reducing carbon emissions to enabling business resilience . 1