Santa Clara – ServiceNow on Wednesday reported a loss of $40.7 million in its first quarter. On a per-share basis, the California-based company said it had a loss of 24 cents. Earnings, adjusted for one-time gains and costs, were 24 cents per share.
The maker of software that automates companies‘ technology operations posted revenue of $416.8 million in the period. For the current quarter ending in July, ServiceNow said it expects revenue in the range of $458 million to $463 million. The company expects full-year revenue in the range of $1.86 billion to $1.88 billion.
First Quarter 2017 GAAP Results:
- Subscription revenues of $376.1 million, representing 41% year‑over‑year growth.
- Professional services and other revenues of $40.6 million, representing 6% year‑over‑year growth.
- Total revenues of $416.8 million, representing 36% year‑over‑year growth.
- Subscription gross profit of $305.8 million, representing 81% of subscription revenues.
- Professional services and other gross loss of $5.4 million, representing negative 13% of professional services and other revenues.
- Total gross profit of $300.3 million, representing 72% of total revenues.
- Loss from operations of $42.5 million, representing negative 10% of total revenues.
- Net loss of $40.7 million, or loss of $0.24 per basic and diluted share.
- Net cash provided by operating activities of $187.4 million, representing 45% of total revenues.
ServiceNow is changing the way people work. With a service orientation toward the activities, tasks and processes that make up day to day work life, we help the modern enterprise operate faster and be more scalable than ever before. Customers use our service model to define, structure and automate the flow of work, removing dependencies on email and spreadsheets to transform the delivery and management of services for the enterprise. ServiceNow enables service management for every department in the enterprise including IT, human resources, facilities, field service and more. We deliver a ‘lights out, light speed’ experience through our enterprise cloud – built to manage everything as a service. To find out how, visit www.servicenow.com.