ServiceNow, Inc. (NYSE: NOW), a leading provider of cloud-based services to automate enterprise IT operations, today announced its financial results for its second quarter of 2012.
Second quarter 2012 results:
- Revenues of $56.8 million, an increase of 93% compared to the second quarter of 2011, and an increase of 20% from the first quarter of 2012.
- A GAAP net loss for the quarter of $8.7 million, or a loss of $0.32 per basic and diluted share, compared to GAAP net income of $2.0 million, or net income of $0.02 per diluted share, in the second quarter of 2011.
- A non-GAAP net loss for the quarter of $3.1 million, or a net loss of $0.12 per basic and diluted share, compared to non-GAAP net income of $2.9 million, or net income of $0.05 per diluted share, in the second quarter of 2011. (See the table entitled "Results of Operations GAAP to Non-GAAP Reconciliation" for a reconciliation of these GAAP and non-GAAP financial measures.)
- Deferred Revenue of $131.1 million, a 13% increase over the $115.8 million reported at the end of the prior quarter.
- Billings were $72.1 million, a 23% increase over the $58.5 million reported in the previous quarter and a 98% increase over the $36.5 million in the same period last year.
"ServiceNow’s second quarter results were highlighted by record revenues," said Frank Slootman, chief executive officer of ServiceNow. "We added over 120 customers during the quarter, bringing our cumulative customer count to 1,201 worldwide, including many of the largest and most recognized companies in the world. We also achieved a customer renewal rate of 95%, a testament to the value the ServiceNow platform provides to our customers. Continued strong operational performance, coupled with the milestone of our initial public offering, have us well-positioned to execute on our growth strategy and our vision to transform IT.”