Reference market
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- Nov 26, 2026 · Thanksgiving Day
Equity
ServiceNow, Inc. (NOW) perpetual futures
NOW perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade NOWUSDT.
ServiceNow, Inc. provides a cloud platform for workflow automation, with applications for IT, security, customer service, HR, and more, serving diverse industries.
$100.61-0.8%NYSE open
Price chart
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TradingView symbol NYSE:NOW
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Trading data
Perpetual market activity
20/20 live markets
Trading data
Perpetual market activity
Venues
20
Live markets
20/20
24h volume
$5MCoverage: 16/20 marketsExchange-reported volume: $8.2M
Open interest
$6.7MCoverage: 17/20 markets
Best liquidity
$2.9M
LBank
Tightest spread
+2.0 bps
Bitget
Highest volume
$1.5M
Binance
Settlement mix
USDT · 16/20
Perp/spot vol.
0.02x
Spot volume $240.5M
OI / float
+0.01%
Float $104.2B
Spot performance
1D-0.21%
5D-1.91%
1M-27.53%
6M+15.39%
YTD-34.43%
1Y-40.89%
Venue matrix
20 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | NOW/USDT | Trading | $100.61 | +32.1% APR +0.029% every 8h | +4.0 bps | $832.1K | $1.5M | $1.4M | USDT | - | |
 GRVT | Trade | NOW/USDT | Trading | $100.62 | +32.1% APR +0.029% every 8h | +5.0 bps | $614.1K | $275.9K | $604.7 | USDT | - | |
 KuCoin | Trade | NOW/USDT | Trading | $100.55 | 0.0% APR 0.000% every 8h | +25.9 bps | $9.9K | $235.3K | $54.6K | USDT | 20x | |
 Bitget | Trade | NOW/USDT | Trading | $100.63 | 0.0% APR 0.000% every 8h | +2.0 bps | $1.5M | $231.5K | $484.3K | USDT | 20x | |
 Hyperliquid HIP-3 | Trade | xyz:NOW | Trading | $100.55 | +10.6% APR +0.00121% every 1h | +8.0 bps | - | $229.1K | $2.1M | USDC | 10x | |
 Bybit | Trade | NOW/USDT | Trading | $100.63 | 0.0% APR 0.000% every 8h | +16.9 bps | $32.9K | $225.3K | $615.6K | USDT | 25x | |
 Gate.io | Trade | NOW/USDT | Trading | $100.56 | 0.0% APR 0.000% every 8h | +32.9 bps | $18.3K | $191.6K | $234.2K | USDT | 20x | |
 MEXC | Trade | NOW/USDT | Trading | $100.60 | +32.4% APR +0.030% every 8h | +3.0 bps | $470.1K14 min | $148K | $1.2M | USDT | 50x | |
 Bitunix | Trade | NOW/USDT | Trading | $100.62 | +39.4% APR +0.036% every 8h | +7.0 bps | $1.7M | $102.3K | $29.4K | USDT | 50x | |
 OKX | Trade | NOW/USDT | Trading | $100.60 | 0.0% APR 0.000% every 8h | +12.0 bps | $21.1K | $96.8K | $384K | USDT | 20x | |
 Aster | Trade | NOWUSDT | Trading | $100.57 | 0.0% APR 0.000% every 8h | +13.0 bps | $33.1K | $29.8K | $26K | USDT | - | |
 HTX | Trade | NOW/USDT | Trading | $100.84 | 0.0% APR 0.000% every 8h | +32.9 bps | $46.5K | $2.1K | $7.1K | USDT | - | |
 Crypto.com Exchange | Trade | NOW/USD | Trading | $100.52 | +42.9% APR +0.00490% every 1h | +17.0 bps | $8.2K | $830.9 | $5.9K | USD | 50x | |
 Extended | Trade | NOW/USD | Trading | $100.51 | +32.4% APR +0.00370% every 1h | +9.0 bps | - | $0 | $1K | USD | 10x | |
 Vest | Trade | NOW/USDC | Trading | $100.46 | +5.0% APR +0.00057% every 1h | +16.0 bps | - | - | - | USDC | 25x | |
 XT.com | Trade | NOW/USDT | Trading | $100.53 | +11.0% APR +0.010% every 8h | +5.0 bps | $25.1K | $1M | - | USDT | 20x | |
 BingX | Trade | NOW-USDT | Trading | $100.61 | +32.5% APR +0.030% every 8h | +5.0 bps | $996.6K | $718.3K | - | USDT | - | |
 Deepcoin | Trade | NOW/USDT | Trading | $100.61 | - | +4.0 bps | $212.9K | $1.9M⚠ | $1.1K | USDT | 25x | |
 Ourbit | Trade | NOW/USDT | Trading | $100.61 | +32.4% APR +0.030% every 8h | +3.0 bps | $1.2M | $726K⚠ | $133.7K | USDT | 50x | |
 LBank | Trade | NOW/USDT | Trading | $100.61 | +33.6% APR +0.031% every 8h | +13.9 bps | $2.9M | $681.4K⚠ | $1.4K | USDT | 20x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| NOWonOndo GM | $506.29 | – | $521k | $1.2M | Ethereum · BNB Smart Chain (BEP20) · Solana |
| rNOWTokenized | $101.48 | +0.86% | $5k | $163k | Arbitrum |
| NOWRobinhood | – | – | – | $5k | Robinhood Chain |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 13 of 20 venues absorb $10k · Typical cost: +8.4 bps – +15.3 bps
Too thin: OKX, Gate.io, KuCoin, Crypto.com Exchange
No fresh book data: HTX, Extended, Vest
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
NOWTightest spread
NOWHighest volume
NOWFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-01-27
Revenue est. $4.37B · Updated 5h ago
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
New York Stock Exchange
Extended-hours reference
Bid100.19
Ask100.34
Volume2,425,791
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20263.95$16.2B+22%32
FY 20274.80$19.2B+19%27
FY 20285.86$22.7B+18%14
FY 20296.89$26.6B+17%7
FY 20308.49$31.3B+18%11
Q1 20291.57$6.2B+64%14
Source: FMP · Consensus
Company events
62027-01-27EarningsActual - / Estimate 1.08-
2026-10-28Earnings · After market closeActual 1.00 / Estimate 1.02Miss
2026-07-22EarningsActual 0.9 / Estimate 0.862Beat
2026-04-22EarningsActual 0.97 / Estimate 0.97In line
2026-01-28EarningsActual 0.92 / Estimate 0.885Beat
2025-12-18Stock split5:1-
Peer comparison
Similar listed perpsRevenue mix
Latest annualNorth AmericaGeographic$8.3B
EMEAGeographic$3.4B
Asia Pacific And OtherGeographic$1.5B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $163.78 |
| 12-month target range (low – high) | $110 – $266 |
| Ratings in the provider's consensus | 70 |
Price targets as of 2026-11-12
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 9 | 35 | 3 | 1 | 1 |
| Oct 2026 | 10 | 35 | 3 | 1 | 1 |
| Sep 2026 | 10 | 35 | 3 | 1 | 1 |
| Aug 2026 | 10 | 35 | 3 | 1 | 1 |
| Jul 2026 | 10 | 35 | 4 | 1 | 1 |
| Jun 2026 | 9 | 34 | 4 | 1 | 0 |
| May 2026 | 9 | 34 | 4 | 1 | 0 |
| Apr 2026 | 9 | 34 | 4 | 1 | 0 |
| Mar 2026 | 9 | 35 | 4 | 1 | 0 |
| Feb 2026 | 7 | 35 | 3 | 1 | 0 |
| Jan 2026 | 8 | 35 | 4 | 1 | 0 |
| Dec 2025 | 9 | 34 | 4 | 1 | 0 |
Ownership
Institutional · 2026-Q3Free float99.8%1B shares
Shares outstanding1B shares
Institutional35.5%1,829 investors
Investor count change-604
Reference market activity
NOW-PERPDay range (Nov 13)$99.92$102.5
52 week$81.24$175
Spot volume2.4M
Average volume-
Price performance
111D-0.2%
5D-1.9%
1M-27.5%
3M-21.1%
6M+15.4%
YTD-34.4%
1Y-40.9%
3Y-21.3%
5Y-26.4%
10Y+503.3%
MAX+1,941.7%
Insider activity
FY2026 Q4Acquisitions13 transactions990,726 shares
Dispositions15 transactions41,161 shares
Purchases0Ratio 0.87
Sales1
Insider transactions
25DateReporting persontransactionssharesPriceFilings
On 2026-11-06, ServiceNow officer Fontaine Danielle converted 305 restricted stock units into 305 common shares and had 106 shares withheld for taxes at $101.97. She then held 11,086 shares.
ServiceNow officer Paul Fipps converted 390 restricted stock units into 390 common shares and had 156 shares withheld for taxes at $101.97, leaving 18,497 shares directly owned.
ServiceNow officer Amit Zavery converted 9,995 restricted stock units into 9,995 common shares and had 5,373 shares withheld for taxes at $101.97, leaving 90,687 shares owned.
ServiceNow CFO Gina Mastantuono converted 3,950 restricted stock units into 3,950 common shares on Nov 6, 2026. She then had 2,124 shares withheld at $101.97 to cover taxes, leaving 111,082 shares owned.
ServiceNow officer Jacqueline P. Canney converted 2,635 restricted stock units into 2,635 common shares, then had 1,346 shares withheld for tax at $101.97 and sold 1,289 shares at $101.70. She held 30,042 shares after.
ServiceNow CEO William McDermott converted 8,775 restricted stock units into 8,775 common shares on Nov 6, 2026, and 4,717 shares were withheld for taxes at $101.97. He held 188,257 shares afterward.
ServiceNow officer Jacqueline P. Canney received an award of 79,078 restricted stock units on Oct 26, 2026, per Form 4 filed Oct 28, 2026.
ServiceNow CEO and Chairman William R. McDermott received 349,900 restricted stock units on Oct 26, 2026 at $0.00 — an award, not a purchase. He holds 349,900 units after the grant.
Officer Fipps Paul was granted 157,455 restricted stock units on Oct 26, 2026, a compensation award at $0.00, leaving 157,455 RSUs owned.
Filings
72 · Latest SEC filings2026-11-104Insider transaction report (Form 4)
On 2026-11-06, ServiceNow officer Fontaine Danielle converted 305 restricted stock units into 305 common shares and had 106 shares withheld for taxes at $101.97. She then held 11,086 shares.
2026-11-104Insider transaction report (Form 4)
ServiceNow officer Paul Fipps converted 390 restricted stock units into 390 common shares and had 156 shares withheld for taxes at $101.97, leaving 18,497 shares directly owned.
2026-11-104Insider transaction report (Form 4)
ServiceNow officer Amit Zavery converted 9,995 restricted stock units into 9,995 common shares and had 5,373 shares withheld for taxes at $101.97, leaving 90,687 shares owned.
2026-11-104Insider transaction report (Form 4)
ServiceNow officer Jacqueline P. Canney converted 2,635 restricted stock units into 2,635 common shares, then had 1,346 shares withheld for tax at $101.97 and sold 1,289 shares at $101.70. She held 30,042 shares after.
2026-11-104Insider transaction report (Form 4)
ServiceNow CFO Gina Mastantuono converted 3,950 restricted stock units into 3,950 common shares on Nov 6, 2026. She then had 2,124 shares withheld at $101.97 to cover taxes, leaving 111,082 shares owned.
2026-11-104Insider transaction report (Form 4)
ServiceNow CEO William McDermott converted 8,775 restricted stock units into 8,775 common shares on Nov 6, 2026, and 4,717 shares were withheld for taxes at $101.97. He held 188,257 shares afterward.
2026-10-284Insider transaction report (Form 4)
ServiceNow officer Hossein Nowbar received an award of 79,078 restricted stock units at $0.00 on Oct 26, 2026, leaving him with 79,078 owned. This is compensation, not an open-market purchase.
2026-10-284Insider transaction report (Form 4)
ServiceNow CFO Gina Mastantuono received a grant of 124,215 restricted stock units on Oct 26, 2026, a compensation award at $0.00, leaving her with 124,215 units owned.
2026-10-284Insider transaction report (Form 4)
Officer Fipps Paul was granted 157,455 restricted stock units on Oct 26, 2026, a compensation award at $0.00, leaving 157,455 RSUs owned.
2026-10-284Insider transaction report (Form 4)
ServiceNow officer Jacqueline P. Canney received an award of 79,078 restricted stock units on Oct 26, 2026, per Form 4 filed Oct 28, 2026.
2026-10-284Insider transaction report (Form 4)
ServiceNow CEO and Chairman William R. McDermott received 349,900 restricted stock units on Oct 26, 2026 at $0.00 — an award, not a purchase. He holds 349,900 units after the grant.
2026-10-284Insider transaction report (Form 4)
ServiceNow officer Amit Zavery (President, CPO and COO) received a grant of 174,950 restricted stock units on Oct 26, 2026, per a Form 4 filed Oct 28. This is a compensation award, not a purchase; 174,950 RSUs are held after the award.
2026-09-014Insider transaction report (Form 4)
On August 31, 2026, Paul Fipps, President of Global Customer Ops at ServiceNow, sold 2,034 common shares at $147.87 each. He retained 18,305 shares.
2026-09-014Insider transaction report (Form 4)
Jacqueline P. Canney, an officer of ServiceNow, sold 7,847 common shares at $138 each on August 28, 2026, retaining 30,042 shares. (SEC Form 4)
2026-08-314Insider transaction report (Form 4)
Director Paul Edward Chamberlain sold 2,700 shares of ServiceNow common stock at $135.50 each on August 27, 2026.
2026-08-194Insider transaction report (Form 4)
CEO William McDermott converted 4,160 RSUs into common stock; 2,236 shares were withheld for taxes, leaving 184,199 shares owned.
2026-08-194Insider transaction report (Form 4)
On 2026-08-17, Canney Jacqueline P converted 970 RSUs into 970 common shares (M-Exempt). 496 shares were withheld for taxes (F-InKind) at $117.70.
2026-08-194Insider transaction report (Form 4)
Paul Fipps, President Global Customer Ops at ServiceNow, converted 640 restricted stock units into 640 common shares; 256 shares were withheld for taxes at $117.70 each.
2026-08-194Insider transaction report (Form 4)
Principal Accounting Officer Fontaine Danielle converted 485 RSUs into 485 common shares; 168 shares were withheld to cover taxes.
2026-08-194Insider transaction report (Form 4)
ServiceNow CFO Gina Mastantuono converted 1,595 restricted stock units into 1,595 common shares and had 858 shares withheld for taxes at $117.70, leaving 109,256 shares owned.
2026-08-184Insider transaction report (Form 4)
On 2026-08-14, Danielle Fontaine converted 975 RSUs into 975 common shares, with 338 shares withheld to cover taxes at $124 each.
2026-08-184Insider transaction report (Form 4)
ServiceNow CEO William McDermott exercised 15,152 restricted stock units into common shares, then had 8,145 shares withheld for taxes at $124. No open-market purchases or sales occurred.
2026-08-184Insider transaction report (Form 4)
ServiceNow officer Paul Fipps reported converting 7,652 restricted stock units into 7,652 common shares (M-Exempt) on 2026-08-14. He also had 3,057 common shares withheld for taxes at $124 (F-InKind). No open-market purchases or sales.
2026-08-184Insider transaction report (Form 4)
ServiceNow's Chief Legal Officer converted 5,066 RSUs into common stock and sold 1,995 shares to cover taxes.
2026-08-184Insider transaction report (Form 4)
ServiceNow officer Canney Jacqueline P converted 5,056 RSUs into 5,056 common shares and had 2,582 shares withheld for taxes at $124, leaving 35,670 shares.
2026-08-184Insider transaction report (Form 4)
On 2026-08-14, President Zavery Amit converted 10,315 RSUs into 10,315 common shares, and 5,546 shares were withheld for taxes at $124.
2026-08-184Insider transaction report (Form 4)
In a Form 4 filing, ServiceNow CFO Gina Mastantuono converted 7,957 restricted stock units into common stock on 2026-08-14, with 4,278 shares withheld to cover taxes. She remains a significant holder.
2026-08-174Insider transaction report (Form 4)
Director Paul Edward Chamberlain sold 1,500 common shares of ServiceNow at $125.60, leaving 46,690 shares.
2026-08-114Insider transaction report (Form 4)
The reporting person converted 305 RSUs into 305 common shares; 106 shares were withheld to cover taxes at $124.88.
2026-08-114Insider transaction report (Form 4)
On August 7, 2026, an officer converted 9,990 RSUs into 9,990 common shares (M), and 5,370 shares were withheld to cover taxes at $124.88 each (F).
2026-08-114Insider transaction report (Form 4)
On August 7, 2026, Fipps Paul converted 5,435 RSUs into 5,435 common shares via exempt M transactions; 2,172 shares were withheld to cover taxes at $124.88 each.
2026-08-114Insider transaction report (Form 4)
On 2026-08-07, the reporting person converted 2,630 RSUs into common stock. 1,343 shares were withheld to cover taxes.
2026-08-114Insider transaction report (Form 4)
Mastantuono Gina converted 3,945 RSUs into common shares; 2,121 shares were withheld for taxes at $124.88 each.
2026-08-114Insider transaction report (Form 4)
On 2026-08-07, CEO William McDermott converted 8,765 RSUs into 8,765 common shares, with 4,712 shares withheld to cover taxes.
2026-06-174Insider transaction report (Form 4)
Eric S. Yuan, a ServiceNow director, was granted 2,747 common shares (compensation award) on 2026-06-15, bringing his ownership to 2,747 shares.
2026-06-014Insider transaction report (Form 4)
Director Teresa Briggs sold 1,595 shares of ServiceNow common stock at $108.70 per share, leaving 11,010 shares owned afterward.
2026-05-283Initial insider ownership statement (Form 3)
This Form 3 filing shows Eric S. Yuan's initial ownership statement as a director of ServiceNow, reporting 0 shares of common stock owned as of 2026-05-21.
2026-05-264Insider transaction report (Form 4)
Director Lawrence Jackson was awarded 3,260 shares of ServiceNow common stock on 2026-05-21 as compensation, bringing his ownership to 4,875 shares.
2026-05-264Insider transaction report (Form 4)
Larry Quinlan, director at ServiceNow, received a grant of 3,260 common shares on 2026-05-21, bringing his total holding to 11,465 shares. This was a compensation award, not an open-market purchase.
2026-05-264Insider transaction report (Form 4)
ServiceNow director Anita M. Sands was awarded 3,260 shares of common stock on 2026-05-21 as compensation, bringing her total ownership to 33,350 shares.
2026-05-264Insider transaction report (Form 4)
Director Susan L. Bostrom was awarded 3,260 shares of ServiceNow common stock on 2026-05-21, bringing her total ownership to 21,685 shares. This was a grant, not an open-market purchase.
2026-05-264Insider transaction report (Form 4)
Director Paul Edward Chamberlain received a grant of 3,260 shares of common stock, bringing his total ownership to 48,190 shares. This was a compensation award, not an open-market purchase.
2026-05-264Insider transaction report (Form 4)
Director Frederic Luddy was granted 3,260 shares of common stock as compensation (not an open-market purchase), bringing his ownership to 4,855 shares.
2026-05-264Insider transaction report (Form 4)
Director Teresa Briggs was awarded 3,260 shares of ServiceNow common stock on 2026-05-21 as compensation, bringing her total holdings to 12,605 shares.
2026-05-184Insider transaction report (Form 4)
William R. McDermott, Chairman & CEO of ServiceNow, converted 19,306 RSUs into 19,306 common shares; 10,378 of those shares were withheld to cover taxes at $95.07 each, with the remainder retained.
2026-05-184Insider transaction report (Form 4)
Nowbar Hossein converted 5,066 RSUs into 5,066 ServiceNow common shares, and 1,995 shares were withheld for taxes at $95.07 per share.
2026-05-184Insider transaction report (Form 4)
Paul Fipps converted 8,287 RSUs into 8,287 common shares, had 3,311 shares withheld for taxes at $95.07, and sold 1,048 shares at $98.51.
2026-05-184Insider transaction report (Form 4)
Director Paul Edward Chamberlain sold 1,500 shares of ServiceNow common stock at $87.23 on 2026-05-14, leaving 44,930 shares owned afterward.
2026-05-184Insider transaction report (Form 4)
Gina Mastantuono (President & CFO) converted 9,547 RSUs into 9,547 ServiceNow common shares; 5,134 shares were withheld to cover taxes at $95.07 each.
2026-05-184Insider transaction report (Form 4)
Director Anita M. Sands sold 16,445 shares of ServiceNow common stock at $90.143 per share, leaving 30,090 shares owned afterward.
2026-05-184Insider transaction report (Form 4)
Jacqueline Canney converted 6,026 RSUs into 6,026 common shares, and 3,078 shares were withheld to cover taxes at $95.07 per share.
2026-05-184Insider transaction report (Form 4)
Amit Zavery converted 10,320 RSUs into 10,320 ServiceNow common shares, and 5,548 shares were withheld for taxes at $95.07 each.
2026-05-184Insider transaction report (Form 4)
Danielle Fontaine converted 1,459 RSUs into 1,459 common shares, and 506 shares were withheld to cover taxes at $95.07 per share.
2026-05-124Insider transaction report (Form 4)
On May 8, 2026, Officer Fipps Paul sold 151 shares of ServiceNow common stock at $90.47 per share, leaving 8,144 shares owned.
2026-05-114Insider transaction report (Form 4)
CEO William McDermott converted 8,765 RSUs into common stock on 2026-05-07; 4,712 shares were withheld for taxes at $93.59.
2026-05-114Insider transaction report (Form 4)
On 2026-05-07, the reporting person converted 3,945 RSUs into common stock and 2,121 shares were withheld to cover taxes at $93.59.
2026-05-114Insider transaction report (Form 4)
ServiceNow's President Zavery Amit converted 9,990 RSUs into common stock (M), then 5,370 shares were withheld for taxes (F) at $93.59.
2026-05-114Insider transaction report (Form 4)
On May 7, 2026, officer Fipps Paul converted 390 RSUs into 390 common shares (M-Exempt), and 156 shares were disposed to cover taxes at $93.59 each.
Transcripts
Earnings callsFY2026 Q22026-07-22
Earnings calls
AI summary
positiveServiceNow delivered a strong Q2 FY2026 with subscription revenue growth of 23% in constant currency, 150 basis points above guidance, and current RPO growth of 21.5%, exceeding expectations by 200 basis points. ServiceNow AI ACV exceeded $1 billion with net new ACV growth accelerating sequentially, and the company is tracking ahead of its target for AI to reach 30% of ACV by 2030. The company reported 123 deals greater than $1 million in net new ACV, up 40% year-over-year, and a best-in-class 98% renewal rate. Operating margin of 29.5% beat guidance by 300 basis points. The company raised full year 2026 subscription revenue guidance to $15.770 billion, representing 21% year-over-year growth. Management highlighted strong demand across multiple product areas including AI control tower, cybersecurity solutions with Armis and Vesa, employee works, and CRM offerings, with executives emphasizing ServiceNow's position as a comprehensive enterprise control platform for AI governance and cybersecurity at scale.
Key takeaways
- Subscription revenue grew 23% in constant currency in Q2, exceeding guidance by 150 basis points, with current RPO growth of 21.5%, beating guidance by 200 basis points
- ServiceNow AI ACV exceeded $1 billion with accelerating net new ACV growth quarter-over-quarter, and the company is tracking ahead of its 30% AI ACV target for 2030
- The company reported 123 deals greater than $1 million in net new ACV, up 40% year-over-year, with 658 customers generating over $5 million in ACV and 32 customers crossing the $20 million threshold since last year
- Customers with agentic AI in production increased 9x over the last 9 months, with deal volume among first-time ServiceNow agentic AI buyers growing over 45% year-over-year
- Operating margin of 29.5% beat guidance by 300 basis points, and free cash flow margin was 16%, demonstrating strong balance of growth and profitability
Financial highlights
- Q2 subscription revenues were $3.877 billion, growing 23% year-over-year in constant currency, 150 basis points above guidance
- RPO ended the quarter at approximately $29 billion, representing 22% year-over-year constant currency growth with increased average customer contract duration
- Current RPO was $13.2 billion, representing 21.5% year-over-year constant currency growth, a 200 basis point beat versus guidance
- Non-GAAP operating margin was 29.5%, 300 basis points above guidance, with free cash flow margin of 16%
Guidance
- Full year 2026 subscription revenues raised to $15.770 billion, representing 21% year-over-year growth on a constant currency basis
- Expected subscription gross margin of 81%, reflecting more customers utilizing hyperscaler partnerships and accelerating AI adoption
- Expected full year operating margin of 31.5% and free cash flow margin of 35%
- Q3 2026 subscription revenues expected between $3.975 billion and $3.980 billion, representing 20% year-over-year growth on a constant currency basis, with CRPO growth of 20%
Q&A themes
- Level 1 ITSM AI specialists closing 80-85% of service requests without human interaction, with some requests now resolved in 20 minutes versus 2 days previously
- ServiceNow cybersecurity business already exceeds $1 billion and is the fastest-growing of the top 10 cyber companies, expanding with Armis device management and Vesa identity governance
- Customers deploying agentic AI have doubled quarter-over-quarter and year-over-year among renewal customers, with deployment marking an inflection point for ServiceNow growth
- Pricing structure combining license and usage-based models provides predictability for customers while outcomes are tied to usage, with Pro Plus SKUs showing pricing uplift above 30%
Risks
- Management noted part of Q2 beat was due to timing shift of on-prem revenue from Q3 to Q2 related to federal government demand, creating potential Q3 headwind
- Gross margin facing short-term pressure from increased hyperscaler partnerships and accelerating AI consumption mix, though management expects longer-term margin recovery
- Sales and marketing headcount significantly increased in Q2 with more additions planned for back half of year, though management committed to completing 2026 with same headcount as pre-acquisition levels
FY2026 Q12026-04-22
Earnings calls
AI summary
positiveServiceNow exceeded guidance across all top-line and profitability metrics in Q1 FY2026, with subscription revenue of $3.671 billion growing 19% YoY in constant currency and current RPO growing 21% YoY. The company raised full-year subscription revenue guidance by $205 million and announced the early close of the Armis acquisition, which is expected to accelerate subscription revenue growth despite near-term margin headwinds. AI-native product capabilities are driving significant momentum with Now Assist on track to exceed the $1 billion target and potentially reach $1.5 billion in 2026.
Key takeaways
- Q1 subscription revenue grew 19% YoY in constant currency to $3.671 billion, exceeding guidance; current RPO grew 21% YoY; operating margin of 32% and free cash flow margin of 44%
- Now Assist revenue accelerated to estimated $1.5 billion trajectory for 2026, up from $1 billion target; customers spending $1 million+ grew over 130% YoY with deals over $1 million growing 30%+ YoY
- Employee Works (formerly Moveworks integration) generated 5x YoY revenue growth and 6 deals above $1 million in Q1; sales CRM NNACV grew more than 5x with deal count up 80%
- Armis acquisition closed early, contributing 125 basis points to 2026 guidance; full-year subscription revenue raised to $15.735-$15.775 billion representing 20.5-21% YoY growth
- 50% of net new business now comes from non-seat-based pricing models including tokens and infrastructure; 630 customers generating over $5 million ACV with 5 additional customers crossing $50 million threshold
Financial highlights
- Q1 subscription revenue: $3.671 billion, up 19% YoY in constant currency; above high end of guidance with 75 bps headwind from delayed on-premise Middle East deals
- RPO: $27.7 billion at 23.5% YoY constant currency growth; current RPO: $12.64 billion at 21% YoY growth, 100 bps beat versus guidance
- Operating margin: 32% in Q1, 50 bps above guidance; free cash flow margin: 44%; operating margin guidance for full year 2026: 31.5% including 75 bps headwind from Armis
- FY2026 subscription revenue guidance: $15.735-$15.775 billion (20.5-21% YoY growth in constant currency); Q2 guidance: $3.815-$3.820 billion (21-21.5% YoY growth)
Guidance
- FY2026 subscription revenue: $15.735-$15.775 billion, representing 20.5-21% YoY constant currency growth, includes 125 bps contribution from Armis
- FY2026 subscription gross margin: 81.5%; operating margin: 31.5% (includes 75 bps Armis headwind); free cash flow margin: 35% (includes 200 bps Armis headwind)
- Q2 2026 subscription revenue: $3.815-$3.820 billion (21-21.5% YoY constant currency growth); RPO growth: 19.5% constant currency; operating margin: 26.5%
- Now Assist positioned to exceed $1 billion 2026 target with current trajectory toward $1.5 billion; Armis margin headwind expected to decrease throughout year with 0 impact by year-end
Q&A themes
- Enterprise spending environment remains excited about AI but customers are uncertain about implementation; ServiceNow positioning as clarifying force with open platform supporting all language models and systems of record
- Customer acquisition and deal activity remains strong despite geopolitical headwinds; large deal momentum continues with 16 deals over $5 million and 5 deals over $10 million in Q1
- M&A strategy focused on acquiring innovative AI capabilities (Moveworks, Veza, Armis) rather than buying revenue; integration executing rapidly with Moveworks example showing 5x business growth in first quarter post-acquisition
- Core IT business expected to strengthen with AI due to increased code complexity and ticket volume; differentiation built on 22 years of workflow context data (95 billion annual workflows, 7+ trillion transactions) enabling superior AI decision-making versus standalone language models
Risks
- Geopolitical uncertainty in Middle East impacted Q1 with 75 bps headwind from delayed on-premise deals; ongoing conflict creates uncertainty for Q2 deal timing despite management confidence in customer relationships
- Integration execution risk for recent acquisitions (Armis, Veza, Moveworks) though early results from Moveworks integration appear positive; margin headwinds from Armis near-term though company expects normalization by end of 2026
- Customer budget allocation dynamics uncertain as enterprises balance AI spending with existing software investments; some investor concern about timeline for AI revenue acceleration relative to enterprise AI lab spending patterns
FY2025 Q42026-01-28
Earnings calls
AI summary
positiveServiceNow exceeded expectations in Q4 2025 with subscription revenue of $3.466B (19.5% YoY growth in constant currency), 244 deals over $1M in NNACV, and current RPO growth of 21% (25% reported). The company guided FY2026 subscription revenue growth to 19.5-20% and increased operating margin guidance to 32%. Now Assist surpassed $600M ACV and is tracking toward the $1B+ target, while the announced acquisitions of Veza and Armis are expected to close in H2 2026 with minimal dilution.
Key takeaways
- Q4 subscription revenue grew 21% (19.5% constant currency), beating guidance by 150 bps; current RPO grew 25% (21% constant currency), exceeding guidance by 400 bps
- Now Assist NNACV more than doubled YoY with 35 deals over $1M in Q4; Now Assist ACV surpassed $600M and tracking toward $1B+ 2026 target
- Announced acquisitions of Veza and Armis to address AI security gaps; Armis expected to contribute ~1% to FY2026 revenue with up to 50bps operating margin headwind
- Guided FY2026 subscription revenue to $15.53-15.57B (19.5-20% growth); operating margin to 32% (up 100bps); free cash flow margin to 36% (up 100bps)
- Announced $5B incremental share repurchase authorization with immediate $2B accelerated share repurchase program
Financial highlights
- Q4 subscription revenue: $3.466B, growing 19.5% YoY in constant currency, 150bps above guidance
- Q4 current RPO: $12.85B, growing 21% YoY in constant currency, 400bps above guidance
- Q4 operating margin: 31%, 100bps above guidance; FY2025 operating margin: 31%, up 150bps YoY
- FY2025 free cash flow: $4.6B, up 34% YoY; free cash flow margin: 35%, 100bps above raised guidance and up 350bps YoY
Guidance
- FY2026 subscription revenue: $15.53-15.57B, representing 19.5-20% YoY growth (constant currency basis), includes 1 point from Moveworks
- FY2026 operating margin: 32%, up 100bps YoY driven by AI-enabled OpEx efficiencies
- FY2026 free cash flow margin: 36%, up 100bps YoY and 350bps ahead of prior FAD target
- Q1 2026 subscription revenue: $3.650-3.655B, representing 18.5-19% YoY growth (constant currency), includes 1 point from Moveworks and 1.5 point headwind from on-prem to hosted shift
Q&A themes
- Demand environment strong with never-better pipelines; customers prioritizing cross-functional AI platforms for cost reduction and operational autonomy; fast ROI eliminates need for dedicated budgets
- Now Assist monetization accelerating through hybrid pricing model; customers adding assist packs upon renewal and expanding to 5+ products; tokens consumption increasing rapidly with agentic workflows
- AI control tower addresses enterprise governance concerns including real-time monitoring, kill switches, agent grading, and red teaming; removes barriers to agentic AI adoption
- Multi-LLM strategy with OpenAI, Anthropic, and Google provides customer choice; partnerships focus on differentiated use cases (e.g., voice AI with OpenAI, coding agents with Anthropic) while maintaining open ecosystem
Risks
- Gross margin headwind of 200bps in FY2026 driven by shift to hyperscaler deployments with lower initial margins; company expects margin recovery as hyperscaler business scales
- Armis and Veza acquisitions pending regulatory clearance with expected H2 2026 close; up to 50bps operating margin headwind expected in FY2026 but expected to be absorbed by FY2027 organic leverage
- Q1 2026 includes 1.5 point subscription revenue headwind from on-prem to hosted migration partially driven by hyperscaler adoption shift
FY2025 Q32025-10-29
Earnings calls
AI summary
positiveServiceNow exceeded Q3 2025 guidance across all key metrics, with subscription revenue growth of 20.5% YoY (100 bps above guidance) and current RPO growth of 20.5% YoY (250 bps above guidance). Now Assist AI products are on pace to exceed $500 million in ACV by year-end with 55x consumption growth since May, fueling the company's $1 billion ACV target for 2026. The company raised full-year 2025 guidance and announced a 5-for-1 stock split.
Key takeaways
- Now Assist exceeded expectations with 12 deals over $1 million (including one over $10 million) and AI Control Tower deal volume quadrupled quarter-over-quarter
- Subscription revenue of $3.299 billion grew 20.5% YoY in constant currency; operating margin reached 33.5% (300 bps above guidance) and free cash flow margin was 17.5%
- Security and risk combined crossed $1 billion ACV threshold (fifth business unit to do so); all top 20 deals included 6+ products demonstrating platform consolidation
- Announced 5-for-1 stock split approved by Board, with shareholder vote scheduled for December 5, 2025
Financial highlights
- Q3 subscription revenue: $3.299 billion, +20.5% YoY constant currency (100 bps above guidance)
- Q3 current RPO: $11.35 billion, +20.5% YoY constant currency (250 bps beat versus guidance)
- Q3 operating margin: 33.5% non-GAAP (300 bps above guidance); free cash flow margin: 17.5%
- 103 deals greater than $1 million net new ACV in Q3, including 3 deals over $20 million; 553 customers generating over $5 million in ACV; 97% renewal rate (98% excluding large federal agency closure)
Guidance
- 2025 full-year subscription revenue raised to $12.835-12.845 billion, representing 20.5% YoY growth (20% constant currency)
- 2025 operating margin raised to 31% (from 30.5%); free cash flow margin raised to 34% (from 32%)
- Q4 2025 subscription revenue guidance: $3.42-3.43 billion, +19.5% YoY growth (17.5-18% constant currency), with prudent timing assumptions for U.S. federal procurement
- Q4 2025 cRPO growth guidance: +23% YoY (19% constant currency); operating margin: 30%
Q&A themes
- Agentic AI workflows driving rapid customer implementations (weeks vs. years) with 100+ prepackaged workflows reducing implementation requirements; forward-deployed engineers supporting AI expertise gaps
- AI consumption acceleration from 55x growth in Now Assist usage since May fueled by Agentic workflows requiring 5-12x token volume versus prior summarization-focused use cases
- Demand trends described as 'amazing' and 'better than ever seen' with CEO interest in governance and control; customers killing proof-of-concepts in favor of consolidated platform approach
- AI Control Tower gaining critical traction with deal volume quadrupling as CISOs and risk teams seek visibility and compliance across AI sprawl; subscription pricing model well-received with flexibility and predictability
Risks
- U.S. federal business faces timing uncertainty from government shutdown; Q4 guidance includes prudent timing-related assumptions for procurement process delays despite strong underlying demand
- On-premises software headwind noted as factor in Q4 guidance; customer consolidation of AI initiatives could pressure proof-of-concept related revenue if migration timing extends
- MoveWorks acquisition closing expected toward end of Q4 2025; while Now Assist performing ahead of plan independently, integration execution risk exists for combining platforms in 2026
FY2025 Q22025-07-23
Earnings calls
AI summary
positiveServiceNow exceeded expectations across all key metrics in Q2 2025, with subscription revenue growth of 21.5% in constant currency (200 bps above guidance) and operating margin of 29.5% (250 bps above guidance). The company is experiencing exceptional traction with Now Assist AI products, which increased deal counts over 50% quarter-over-quarter and drove $20 million in the largest Now Assist deal to date. Management raised full-year 2025 subscription revenue guidance by $125 million midpoint to $12.775-12.795 billion, representing 20% growth or 19.5-20% constant currency.
Key takeaways
- Now Assist AI products significantly outperforming, with Pro Plus SKUs showing 6x growth in ITAM, doubled growth in SecOps/risk, and quadrupled deal values in flagship products like ITSM Plus and CSM Plus year-over-year
- 89 deals over $1 million in net new ACV closed in Q2 including 11 over $5 million; 528 customers now generating over $5 million in ACV with 30%+ year-over-year increase in $20 million+ ACV customers
- Logik.ai acquisition driving CPQ growth with 9 deals closed in June alone; CRM and front-office workflows gaining significant momentum as customers adopt agentic AI solutions
- All three workflow businesses performed strongly: Technology workflows 40 deals over $1M (4 over $5M), CRM/industry workflows 17 of top 20 deals, core business workflows 16 of top 20 deals with 7 over $1M
- AI Control Tower already surpassed full-year net new ACV targets by July; Workflow Data Fabric included in 17 of top 20 largest deals; RaptorDB Pro gaining traction in all major regions
Financial highlights
- Q2 subscription revenue: $3.113 billion, growing 21.5% YoY constant currency (200 bps above guidance)
- Current RPO: $10.92 billion, representing 21.5% YoY constant currency growth (200 bps beat vs guidance); total RPO: $23.9 billion with 25.5% YoY constant currency growth
- Operating margin: 29.5% non-GAAP (250+ bps above guidance); free cash flow margin: 16.5%, up 300 bps YoY
- FY2025 guidance raised: subscription revenue $12.775-12.795 billion (20% YoY growth or 19.5-20% constant currency); operating margin 30.5%; free cash flow margin 32%; Q3 guidance $3.260-3.265 billion (20-20.5% growth or 19.5% constant currency)
Guidance
- FY2025 subscription revenue guidance raised $125 million at midpoint to $12.775-12.795 billion, representing 20% YoY growth (19.5-20% constant currency)
- FY2025 operating margin guidance of 30.5%, subscription gross margin of 83.5%, free cash flow margin of 32%
- Q3 2025 subscription revenue guidance $3.260-3.265 billion (20-20.5% YoY growth, 19.5% constant currency); cRPO growth 18.5% YoY or 18% constant currency with 200 bps headwind from large customer cohort renewal
- Company targeting $15 billion+ subscription revenue for 2026 and $1 billion in Now Assist ACV by 2026; guidance does not include contribution from pending Moveworks acquisition expected to close late H2 2025 or early 2026
Q&A themes
- AI and agentic AI transforming business models across all industries; ServiceNow's cross-functional AI platform and AI Control Tower managing both ServiceNow and third-party agents positioning company as 'CEO's agentic AI story'
- Federal government market executing well despite budget uncertainties; U.S. public sector closed 6 new logos in Q2; guidance appropriately reflects tightening federal budgets and evolving mission demands for remainder of 2025
- CRM opportunity massive with agentic AI replacing traditional CRM screens; Logik.ai acquisition enabling CPQ growth; sales and order management coming into full view as key growth drivers
- New logo ACV growing over 100% year-over-year; 11 new logo deals over $1 million including 2 over $5 million; new logos increasingly entering from commercial space due to AI conversation opportunities
Risks
- U.S. federal government agencies navigating tightening budgets and evolving mission demands with increasing urgency; company building prudence into assumptions for remainder of 2025
- Moveworks acquisition timing uncertain, expected to close late H2 2025 or early 2026; company maintaining prudent expense management to absorb potential margin headwinds if integration occurs
- Competitive intensity from hyperscalers (AWS, Azure, GCP) and AI companies (OpenAI, Anthropic) building infrastructure and large language models; company must maintain enterprise-ready differentiation and integration capabilities
FY2025 Q12025-04-23
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.Company data
Company intelligence
Updated: Nov 13, 2026, 02:44 PM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Software - Application
- Chief executive
- William R. McDermott
- Employees
- 29,187
- IPO date
- Jun 29, 2012
- Country
- US
- Exchange
- New York Stock Exchange
Altman Z-scorei4.36
Piotroski scorei5/9
Overall ratingiB-
Owner earningsi$911.33M$0.87 per share
ESG risk ratingiB-Industry rank: 315/321
Rating factors
- Return on equityi
- 3/5
- Return on assetsi
- 3/5
- Debt to equityi
- 2/5
- Price to earningsi
- 1/5
- Price to booki
- 1/5
Company press releases
ServiceNow Investigation Notice: SueWallSt Notifies Investors of Pending Investigation Into ServiceNow (NOW)PRNewsWireNOW Investors with $100,000 in Losses Have Opportunity to Join ServiceNow, Inc. Fraud Investigation with SBS LawBusiness WireServiceNow Reports Third Quarter 2026 Financial ResultsBusiness WireStagwell (STGW) unifies the employee experience across global network of 70+ agencies on the ServiceNow AI PlatformBusiness WireHPE selects ServiceNow to transform support services for its Cloud & AI businessBusiness WireServiceNow and OpenAI accelerate enterprise AI, from models and operations to cybersecurity and agentic developmentBusiness Wire
Congressional disclosures
Senate
Alan ArmstrongSale (Full) · $15,001 - $50,000Disclosed: Jul 21, 2026Alan ArmstrongSale · $15,001 - $50,000Disclosed: Jul 22, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026Markwayne MullinPurchase · $15,001 - $50,000Disclosed: Jan 16, 2026Markwayne MullinPurchase · $1,001 - $15,000Disclosed: Oct 1, 2025
House
Market cap history
$104.18B-20.7%Aug 2026 – Nov 2026
Latest: $104.18B · 2026-11-12High: $163.71B · 2026-10-26Low: $104.18B · 2026-11-12
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.19% | 32.8M |
| VOO | 0.21% | 27.2M |
| 2563.T | 0.25% | 13.8M |
| IVV.AX | 0.25% | 13.8M |
| 1655.T | 0.25% | 13.7M |
| XAW.TO | 0.15% | 13.7M |
| FXAIX | 0.23% | 12.8M |
| SPY | 0.25% | 12.6M |
| VUG | 0.39% | 11.4M |
| XLK | 0.97% | 7.6M |
| VGT | 0.54% | 7.1M |
| VIIIX | 0.21% | 5.5M |
Analyst track record
How the analysts covering NOW have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 293 | 793 |
| Analysts | 53 | 63 |
| Buy / hold / sell | 271 / 16 / 6 | 732 / 47 / 14 |
| Upgrades / downgrades / initiations | 5 / 3 / 7 | 7 / 9 / 14 |
| Price targets hit / missed | 4 / 262 (2%) | 5 / 725 (1%) |
| Avg. return after a rating (TipRanks) | -37.0% | -58.6% |
| Best / worst call | +39.8% / -62.2% | +39.8% / -92.3% |
After buy calls on this stock: median 21-day move +1.7% vs S&P 500 -2.0% (n = 733)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- John DifucciGuggenheim100% hit rate on this stock · 8 targets measuredBuytarget $175Oct 22, 2026
- Peter WeedBernstein40% hit rate on this stock · 10 targets measuredBuytarget $266Oct 26, 2026
- Keith BachmanBMO Capital25% hit rate on this stock · 12 targets measuredBuytarget $155Oct 28, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 11, 2026 | Billy FitzsimmonsPiper SandlerNov 11, 2026 | BuyMaintained | $175↗ | article ↗ |
| Oct 30, 2026 | Saiyi HeCMB International SecuritiesOct 30, 2026 | BuyMaintained | $155↗ | article ↗ |
| Oct 29, 2026 | Miller JumpTruist FinancialOct 29, 2026 | BuyMaintained | $150↗ | article ↗ |
| Oct 29, 2026 | Almas AlmaganbetovFreedom Capital MarketsOct 29, 2026 | BuyMaintained | $140↗ | article ↗ |
| Oct 29, 2026 | David HynesCanaccord GenuityOct 29, 2026 | BuyMaintained | $145↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 293 ratings
Frequently asked questions
Where can I trade NOW perpetual futures?
ServiceNow, Inc. (NOW) perpetual futures trade on 20 crypto venues, including Deepcoin, Binance, XT.com. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade NOW around the clock?
Yes. Unlike the underlying stock, NOW perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on NOW perpetuals?
Right now the NOW perp funding rate is +32.1% annualized (venue median), ranging from +32.1% to +32.1% across 20 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the NOW perp price compare to the ServiceNow, Inc. stock?
The venue-median NOW perp mark is $100.6 versus a reference stock price of $100.6, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a NOW perpetual future?
A NOW perpetual is a derivative that tracks the price of ServiceNow, Inc. with no expiry date. It lets you take long or short exposure to ServiceNow, Inc. on crypto venues, around the clock.
What is NOWUSDT perpetual?
NOWUSDT is the symbol most crypto exchanges use for the ServiceNow, Inc. perpetual settled in USDT (Tether). It tracks the NOW share price through an index, trades 24/7 with leverage and never expires.
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