ServiceNow Reports Third Quarter 2012 Financial Results

ServiceNow, Inc. (NYSE:NOW), a leading provider of cloud-based services to automate enterprise IT operations, today announced its financial results for its third quarter of 2012.

Third quarter 2012 results:
  • Revenues of $64.3 million, an increase of 88% compared to the third quarter of 2011, and an increase of 13% from the second quarter of 2012.
  • A GAAP net loss for the quarter of $13.1 million, or a loss of $0.11 per basic and diluted share, compared to GAAP net income of $0.1 million, or net income of $0.00 per diluted share, in the third quarter of 2011.
  • A non-GAAP net loss for the quarter of $7.1 million, or a net loss of $ 0.06 per basic and diluted share, compared to non-GAAP net income of $1.7 million, or net income of $0.05 per diluted share, in the third 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 $147.9 million, a 13% increase over the $131.1 million reported at the end of the prior quarter.
  • Billings were $81.2 million, a 13% increase over the $72.1 million reported in the previous quarter and a 96% increase over the $41.4 million in the same period last year (see the table entitled “Non-GAAP Billings Reconciliation” for a reconciliation of non-GAAP billings to GAAP revenues).

"ServiceNow’s third quarter results were highlighted by continued growth across our key financial metrics and we exceeded our previously stated outlook on revenue and non-GAAP EPS,” said Frank Slootman, president and chief executive officer of ServiceNow. “In our first full quarter as a public company, we added over 145 customers, bringing our cumulative customer count to 1,346 worldwide, and we achieved a customer renewal rate of 96%.”

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