San Diego Business Journal

ServiceNow Reports Q3 Net Loss of $14.7M

Friday, October 25, 2013

ServiceNow, the San Diego provider of cloud-based IT services, reported a third quarter net loss of $14.7 million, compared with a net loss of $13 million in the third quarter of 2012.

Revenue for the quarter came in at $111 million, up 73 percent from the like quarter of last year.

CEO Frank Slootman said the company grew its customers to 1,900 including the addition of 22 companies belonging to the Forbes Global 2000 list. The business also hit a renewal rate of 97 percent.

For the fourth quarter the company said it expects revenue ranging from $119 million to $121 million representing annual growth of 58 to 61 percent.

ServiceNow said it anticipates a quarterly net loss per diluted share of 2 cents.

For the full year, the company said it expects total revenue in the range of $418 million to $420 million.

— SDBJ Staff Report