ServiceNow, Inc. Due Diligence

Run due diligence on ServiceNow, Inc.: check compliance and get alerts when suppliers or ownership change.

United States · owned by Independent (United States) · servicenow.com · 9 vendors

ServiceNow, Inc. is a cloud-based enterprise software company that provides an AI-powered platform for automating and streamlining digital workflows across IT, customer service, HR, security, and other business functions. The company's ServiceNow AI Platform unifies data, AI, and workflows to help organizations automate processes, reduce costs, and improve productivity at scale. Serving 85% of the Fortune 500, ServiceNow processes approximately 95 billion workflows and maintains a 98% customer renewal rate.

Resilience scores

Technology vendors

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28 services in catalogue across 10 categories; runs on 9 sub-vendors.

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Last updated 2026-09-13 · revision 8

9 direct vendors, 142 subvendors

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Financials

Three-year financials

Financial Resilience Score: 9/10

ServiceNow demonstrates exceptional financial resilience underpinned by a highly recurring subscription business model with a renewal rate consistently at 97-98%, providing extraordinary revenue visibility. Total Remaining Performance Obligations reached $29.0B in Q2 2026, with current RPO of $13.20B growing 21% YoY, giving the company multi-year contracted revenue visibility that is rare among software companies. The company has compounded revenue at approximately 25% CAGR over the last seven years while simultaneously expanding operating margins - a distinctive combination at scale. Non-GAAP operating margin reached ~31% in FY 2025, with non-GAAP free cash flow margin of ~35% ($4.6B in FCF). The customer base is blue-chip, including ~90% of the Fortune 500, and expansion economics are proven with the 2011 customer cohort growing initial ACV by 35.95x. Risks include growth deceleration typical of scaled SaaS, gross margin compression from AI hosting costs (subscription gross margin fell from 83.0% to 80.5% YoY), FX exposure (~37% of revenue outside North America), high stock-based compensation ($1,955M or ~15% of revenue in FY 2025), and integration risk from recent M&A (Moveworks, Armis). However, these are manageable relative to the strength of the underlying business model.

Key strengths: Renewal rate consistently 97-98% across all quarters Q2 2025-Q2 2026, $29.0B total RPO providing multi-year revenue visibility, ~90% of Fortune 500 as customers with ~8,800 total global customers, Non-GAAP operating margin ~31% and FCF margin ~35% in FY 2025, Strong customer expansion: 658 customers with >$5M ACV, avg $15.2M, Crossed $1B cumulative ServiceNow AI ACV in Q2 2026, 7-year revenue CAGR of ~25% while expanding margins

Risk factors: Growth deceleration from 24% (FY23) to 21% (FY25), Gross margin compression from AI hosting costs (83.0% to 80.5% YoY), FX exposure with ~37% of revenue outside North America, High stock-based compensation of $1,955M (~15% of revenue), M&A integration risk: Armis is ~75bps FY26 operating margin headwind, U.S. Federal demand volatility (large agency closure pressured Q3 2025), Premium valuation multiples require sustained 20%+ growth

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