San Diego Business Journal

ServiceNow Reports Net Loss of $21.4M for Q2

Monday, August 5, 2013

ServiceNow, the San Diego-based provider of information technology services via the cloud, reported second quarter net loss of $21.4 million, compared with a net loss of $8.7 million for the like quarter of 2012.

Revenue was $102.2 million, up 80 percent from the like quarter of last year, and an increase of 19 percent from the first quarter. It was the first time the company crossed the $100 million mark, and the second time it passed that level in billings, the company said.

Billings for the past quarter came in at $117.5 million, up 63 percent from the like quarter of 2012.

Frank Slootman, ServiceNow’s CEO, said the company added 138 new customers bringing the number to 1,778 worldwide, and achieved a customer renewal rate of 94 percent.

The company is forecasting third quarter revenue to come in a range of $104 to $106 million, for an annual growth of 62 to 65 percent. The firm is forecasting a net loss ranging from 3 cents to 2 cents per diluted share.

For the full year, ServiceNow said it expected revenue to be n range of $406 million to $410 million, for year-over-year growth of 67 to 68 percent.

— SDBJ Staff Report