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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Samad Samana | Jefferies | 9 (0%) |
| Alex Zukin | Wolfe Research | 8 (0%) |
| Mark Murphy | JPMorgan | 5 (0%) |
| Peter Weed | Bernstein | 5 (0%) |
| Matt Hedberg | RBC Capital Markets | 4 (0%) |
| Brad Sills | Bank of America | 4 (0%) |
| Kash Rangan | Goldman Sachs | 4 (0%) |
| Keith Weiss | Morgan Stanley | 4 (50%) |
| Michael Turrin | Wells Fargo | 4 (25%) |
| Gabriela Borges | Goldman Sachs | 3 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 9 (0%) |
| Wolfe Research | 1 | 8 (0%) |
| Morgan Stanley | 4 | 8 (25%) |
| Goldman Sachs | 2 |
| 7 (14%) |
| JPMorgan | 2 | 6 (0%) |
| Bank of America | 2 | 5 (0%) |
| Bernstein | 1 | 5 (0%) |
| RBC Capital Markets | 1 | 4 (0%) |
ServiceNow delivered subscription revenue growing 19% in constant currency above guidance with non-GAAP operating margin at 32%, as the AI revenue target was raised 50% to $1.5 billion for 2026 and the Armis acquisition closed early expanding the security TAM. Management raised FY2026 subscription revenue by $205 million at the midpoint, though Gina noted this was entirely the Armis contribution with organic guidance maintained, while the autonomous AI workforce resolved 90% of IT requests and RPO grew 23.5% in constant currency.
Cloud & AI | Demand | Competitive Dynamics | Pricing | Innovation & R&D | Macroeconomic | Revenue Growth | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 3 | 3 | 3 | 2 | |||
| 2025Q1 | 6 | 9 | 4 | 2 | 4 | 3 | 1 | |
| 2025Q2 | 8 | 8 | 5 | 1 | 1 | 1 | 1 | |
| 2025Q3 | 8 | 6 | 2 | 4 | 2 | 1 | 2 | |
| 2025Q4 | 6 | 2 | 3 | 1 | 2 | 1 | ||
| 2026Q1 | 5 | 1 | 2 | 3 | 1 | 2 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 7 | 6 | 8 | 8 | 6 | 5 |
| Demand | 3 | 9 | 8 | 6 | 2 | 1 |
| Competitive Dynamics | 3 | 4 | 5 | 2 | 3 | 2 |
| Pricing | 3 | 2 | 1 | 4 | 1 | 3 |
| Innovation & R&D | 4 | 2 | 2 | 1 | ||
| Macroeconomic | 2 | 3 | 1 | 2 | ||
| Revenue Growth | 1 | 1 | 5 | |||
| Regulation Policy | 1 | 1 | 2 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.96B | +21.3% | $0.37 | +29.4% | 78.7% | 12.6% | 13.0% | $1.38B |
| FY2025 Q1 | $3.09B | +18.6% | $0.44 | +31.7% | 78.9% | 14.6% | 14.9% | $1.47B |
| FY2025 Q2 | $3.21B | +22.4% | $0.37 | +46.8% | 77.5% | 11.1% | 12.0% | $526M |
| FY2025 Q3 | $3.41B | +21.8% | $0.48 | +17.1% | 77.3% | 16.8% | 14.7% | $578M |
| FY2025 Q4 | $3.57B | +20.7% | $0.38 | +2.7% | 76.6% | 12.4% | 11.2% | $2.00B |
| FY2026 Q1 | $3.77B | +22.1% | $0.45 | +2.3% | 75.1% | 13.3% | 12.4% | $1.53B |
| FY2026 Q2 | $3.99B | +24.0% | $0.29 | -21.6% | 70.7% | 4.1% | 7.5% | $473M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What NOW and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“I especially love 5 customers who got to leave the purgatory of ServiceNow, like Sunrun, Cornerstone, CoolSystems, and there's others, too, that we're not allowed to mention, but I might mention them anyway.”
Salesforce claims competitive wins displacing ServiceNow's ITSM with its new Salesforce IT Service product, naming several customers that switched.
“ServiceNow is leveraging watsonx for automated data quality and observability to deliver AI-ready data and code generation to refresh legacy applications to modern application run times, including ServiceNow”
ServiceNow is a watsonx customer, using IBM AI for data quality and legacy-app modernization.
“Robin Hood is deflecting 70% of employee requests before human intervention, they've already eliminated 2,200 hours of manual effort monthly”
Robinhood is cited as a ServiceNow customer deflecting 70% of employee requests and eliminating 2,200 manual hours monthly with ServiceNow's mid-market offering.
“In fact, great ones like CrowdStrike, my friend, George and Nikesh and all these guys, they're terrific.”
ServiceNow praised CrowdStrike as a great security company it continues to integrate with, framing CrowdStrike as a partner rather than a threat as ServiceNow expands into OT security.
“This opens all Carasoft's commercial channels in addition to its established government network of 10,000-plus resellers.”
ServiceNow expanded its partnership with Carahsoft, opening Carahsoft's commercial channels and 10,000+ government reseller network to the ServiceNow AI platform.
“ServiceNow and Cohesity announced a partnership to deliver agent resilience”
ServiceNow and Cohesity partnered to combine ServiceNow's AI agent control tower with Cohesity's immutable data recovery for agent resilience.
“ServiceNow, NTT, Docomo and StarHub are developing the industry's first inter-carrier autonomous roaming resolution model on the ServiceNow AI platform.”
ServiceNow is co-developing an industry-first inter-carrier autonomous roaming resolution model with NTT (and Docomo, StarHub) on its AI platform.
“Claude models are also deeply integrated into ServiceNow AI platform for developers and employees.”
Anthropic's Claude models are deeply integrated into the ServiceNow AI platform for developers and employees, a positive enterprise-distribution read-through for Anthropic.
“ServiceNow AI specialists are working side-by-side with Google Gemini, AI agents.”
ServiceNow AI specialists work alongside Google Gemini agents across telecom, retail and IT operations, a partner read-through for Google's Gemini in enterprise agentic workflows.
“OpenAI native voice and text models are integrated directly into the ServiceNow AI platform, and they're using us as a gateway into the enterprise.”
OpenAI's voice and text models are integrated into the ServiceNow AI platform, with OpenAI using ServiceNow as an enterprise gateway, a positive distribution read-through for OpenAI.
“This business will continue to be run by the excellent CEO of Veza, Tarun Thakar.”
ServiceNow acquired identity-governance firm Veza, whose CEO stays to run the business, to add access-graph technology to ServiceNow's AI security stack.
“We're thrilled that the Armis acquisition closed earlier than expected”
ServiceNow closed its acquisition of security firm Armis earlier than expected, adding asset-visibility capability and accelerating full-year subscription revenue growth.
“Moveworks closed 7-figure deals in Q1. They closed more deals than they did the entire year last year.”
ServiceNow's acquired Moveworks closed more 7-figure deals in Q1 than in all of the prior year after being integrated into ServiceNow's 'employee works,' a strongly positive integration read-through.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NOW ServiceNow | 7 | +22.1% | |
| ADSK Autodesk | 10 | +19.8% | |
| AI C3.ai, Inc. | 1 | -46.1% | |
| APP Applovin Corp | 9 | +59.0% | |
| CDNS Cadence Design Systems | 9 | +18.7% | |
| CHYM Chime Financial, Inc. Class A Common Stock | 10 | +24.8% | |
| CRM Salesforce, Inc. | 9 | +12.1% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| FIG Figma, Inc. | 9 | +46.1% | |
| INTU Intuit | 9 | +17.4% | |
| MSTR MicroStrategy Inc. | 7 | +11.9% | |
| PTC PTC Inc. | 9 | +21.7% | |
| SHOP Shopify | 8 | +34.3% | |
| SNOW Snowflake Inc. | 9 | +30.1% | |
| SOUN SoundHound AI, Inc. | 8 | +51.7% | |
| TEAM Atlassian | 7 | +31.7% | |
| TTD The Trade Desk, Inc. | 8 | +11.8% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| U Unity Software Inc. | 9 | +16.8% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 7 | +14.5% |