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ServiceNow
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Latest analysis
Updated Oct 28, 2026
ServiceNow Q3 2026: AI net new ACV up 65% YoY, consumption flywheel accelerating, full-year AI target raised to $1.7B+
ServiceNow delivered a Q3 2026 trifecta — subscription revenue growth of 20.5% in constant currency (50bps above guidance), cRPO of 21% in constant currency (100bps above guidance), and operating margin of 32.5% (150bps above guidance) — while raising its full-year AI ACV target for the second time, from $1.5B to $1.7B+. The defining signal this quarter is the agentic AI consumption inflection: year-to-date agentic AI consumption in production is up 13x YoY, Action Fabric assists grew 500% month-over-month, and EmployeeWorks reached $100M ACV in under three quarters. A strategic decision to embed deployment expertise with select large deals creates a modest subscription revenue accounting headwind (25bps in Q3, ~50bps in Q4) but is designed to accelerate token consumption and expand the monetization flywheel, making the near-term cRPO softness a structural setup rather than a demand signal.
Tone: bullishRevenue
$13.3B
NOW 10-K · FY 2025
Employees
29,187
Revenue FY2024
$11B
Headquarters
Santa Clara, CA
Profile
NOW 10-K Item 1 · Jan 29, 2026ServiceNow provides a cloud-based AI platform that automates and orchestrates enterprise workflows across IT, HR, finance, legal, customer service, and other functions. The ServiceNow AI Platform connects people, processes, and data to digitalize and streamline work across the enterprise. The company serves approximately 8,700 enterprise customers globally as of December 31, 2025.
Read filing description ↓ Collapse description ↑
ServiceNow delivers solutions that help public and private organizations govern, secure and manage artificial intelligence and digitalize and streamline workflows to drive collaboration, productivity and better experiences across the enterprise. We offer an innovative suite of products, including AI-powered applications, and services designed to automate workflows, integrate systems and empower employees, regardless of existing systems, cloud environments or collaboration tools. At the core of these solutions is the ServiceNow AI Platform, a robust, cloud-based platform that facilitates comprehensive delivery of seamless workflows and drives digital transformation across all departments and personas within an organization. With the emergence of artificial intelligence, organizations are under pressure from their stakeholders to accelerate growth and achieve unprecedented productivity improvements. To meet these demands, they are prioritizing the digitalization and modernization of their workflows through AI-powered automation. At the same time, they are seeking secure and reliable tools to manage the heightened risks associated with AI innovation and ensure measurable returns on investment. ServiceNow addresses these evolving organizational needs by providing solutions that help organizations govern, secure, and manage artificial intelligence, while optimizing their workflows. Our platform addresses a fundamental gap by providing the underlying infrastructure that connects AI-generated insights to the operational systems and processes where work actually gets done. Our ambition is to become the defining AI enterprise software company of the 21st century.
Primary products
- ServiceNow AI Platform
- Now Assist
- IT Service Management (ITSM)
- IT Operations Management (ITOM)
- Risk Management (RM)
- Security Operations
Business segments
End markets
Geographies
Named customers
Named competitors
“We believe our established market position, deep customer relationships, and platform capabilities position us favorably to capitalize on these emerging needs.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $10,984 million in fiscal 2024 to $13,278 million in fiscal 2025, driven by growth in subscription revenues which rose from $10,646 million to $12,883 million over the same period.
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