San Diego Business Journal

ServiceNow Reports Q4 Revenue of $75.2M

Friday, February 1, 2013

ServiceNow, the San Diego company that provides cloud-based technology services to larger businesses, reported fourth quarter revenue of $75.2 million, up 92 percent from the like quarter of 2011.

The firm had a net loss of $9.9 million in the quarter, compared with a net loss of $6.8 million in the like quarter of 2011.

For the full year, ServiceNow said its revenue was $243.7 million, up 90 percent from 2011. The net loss for 2012 was $37.3 million, compared with a net loss of $1.7 million for 2011.

CEO Frank Slootman said the growth in the last quarter completed a strong year that saw 538 customers added, bringing its total to 1,512 worldwide.

Sales growth this year won’t be as robust, but should still be up there. The business forecast revenue for 2013 to finish in a range of $387 million to $392 million, for a year-over-year increase of 59 to 61 percent.

For the first quarter, ServiceNow said it will generate revenue from $81.5 million to $82.5 million, and a diluted net loss of 4 to 5 cents.

Shares of the company, traded on the New York Stock Exchange under NOW since July, were just below $29 as of Jan. 30, giving it a market capitalization of $3.6 billion.

—Mike Allen