ServiceNow (NOW) Revenue — Quarter Ended Mar 31, 2023
Revenue rose in the latest quarter, extending the pattern of sequential and year-over-year gains. The company's filing highlights its subscription services as a primary source of cash inflows.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue rose in the latest quarter, extending the pattern of sequential and year-over-year gains. The company's filing highlights its subscription services as a primary source of cash inflows.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.1B
Revenue reported for this quarter.
Quarter-over-quarter
+8.0%
Change from the immediately preceding quarter.
Year-over-year
+21.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$7.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $1.8B | +24.3% |
| Sep 30, 2022 | $1.8B | +21.1% |
| Dec 31, 2022 | $1.9B | +20.2% |
| Mar 31, 2023 | $2.1B | +21.7% |
Revenue performance
The reported revenue reflects an increase compared to both the immediately preceding quarter and the same quarter one year earlier. This continues the positive trajectory seen in recent periods.
Quarterly comparison
Compared to the prior quarter, revenue grew, and relative to the same quarter last year, the increase was larger. The company has maintained consistent growth over the trailing twelve months.
What to watch
The filing notes a renewal rate of 98% over the last three years, which may influence future subscription revenue.