![]() ![]() Subscription revenues grew 62% over the year to $150.4 million. ServiceNow continues to earn revenues through a subscription-based model. They had nearly 2,515 customers by the end of September. The market was looking for revenues of $174.7 million and an EPS of $0.01. They managed to turn in a profitable quarter with an EPS of $0.03. The losses have been attributed to increased spending on sales and marketing and R&D activities.įor the quarter ended September last year, ServiceNow saw revenues increase 61% over the year to $178.7 million. They ended fiscal 2013 with a non-GAAP net loss of $0.14 per share. Their latest fiscal results are yet to be announced, but they ended fiscal 2013 with revenues of $424.7 million.ĭespite the high revenue growth, ServiceNow remains a loss-making organization. In 2010, they had grown to $45 million annual revenue run rate with 350 enterprise customers. Soon they clocked $850,000 in revenues in their first year as a real company. All he knew was that he wanted to do “ something involving forms-based workflows” and soon realized that the service-desk opportunity was open to their Internet and cloud-based delivery model.īy 2005, ServiceNow had managed to attract 12 customers during production and started to charge seat-based subscription fee for his services. Fred had little idea on how to build ServiceNow. He used that expertise to create a company that offered ITSM capabilities over the cloud. Working at Pergerine, Fred was able to develop his domain experience with the IT Service Desk Market. ServiceNow was founded in 2004 by former CTO of Pergerine Corporation, Fred Luddy. ![]() ServiceNow has shown how to create a multi-billion dollar enterprise by relying solely on domain expertise. Here is a brief write-up on another Billion Dollar Unicorn Club member - cloud-based IT Services Management (ITSM) vendor, ServiceNow (NYSE: NOW).
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