ServiceNow’s Historical Billings Worldwide (2014-2021)

This statistic highlights ServiceNow’s Historical Billings Worldwide from 2014 to 2020.

ServiceNow’s Historical Billings Worldwide

ServiceNow offers a cloud automation platform that assists customers in automating existing operations, resulting in an efficient and digital workflow. IT services management, IT operations management, and IT business management are among the company’s specialties. Its apps and plugins enable users to manage projects, teams, and client interactions. ServiceNow serves industries such as government, healthcare, education, financial services, manufacturing, technology, oil & gas, and telecommunications.

(All figures in billion, except percentages)

Billings, as defined by ServiceNow, are GAAP (Generally Accepted Accounting Principles) revenues recognized plus the change in total GAAP unbilled receivables, deferred revenue, and customer deposits as shown on the consolidated statements of cash flows. Total Billings refers to the total amount of business conducted over a particular period. The company believes that billings are an indicator of their business performance.

Total billings = Total revenue + Change in deferred revenue + Unbilled receivables + Customer deposits

The company believes that billings are one of the indicators of their business’s performance, but, a rise or reduction in billings may not reflect actual performance for that reporting period.

• ServiceNow’s worldwide historical billings stood at $1.20 billion in 2015. This was a 41.18% rise from the previous year, which amounted to $0.85 billion. In 2016, total billings reached $1.67 billion with 39.17% growth.
• ServiceNow’s total billings were increased from $2.30 billion in 2017 to $3.09 billion in 2018, reflecting a 34.35% increase on a year-over-year basis. In 2019 billings reached $4 billion, marking 29.45% growth.
• ServiceNow’s worldwide historical billings stood at $5.23 billion in 2020. This was a 30.75% rise from the previous year and maximum billings for the company over the past 7 years. The lowest billing was in 2014, which amounted to $0.85 billion.
• The company’s year-over-year growth showed a downtrend from FY 2014 to 2019. However, there was a slight increase in 2020.

The majority of billings have historically been in US dollars. In recent years, a significant amount of billings have been in foreign currencies, particularly the Euro and British Pound Sterling. Foreign currency exchange rate fluctuations will create variation in ServiceNow’s billings. Foreign currency rate movements boosted billings by $21 million and $68 million for the fiscal years ended December 31, 2020, and 2019 respectively.

Company Overview

ServiceNow, Inc. is an American company founded in 2003 by David Loo, Bow Rugger, Don Goodliffe, and Fred Luddy.
Its headquartered in Santa Clara, California. ServiceNow is a part of the Russell 1000 Index and the S&P 500 Index, and it trades on the New York Stock Exchange under the ticker code “NOW”. The company had 13,096 full-time employees as of December 31, 2020.

ServiceNow has collaborated with global partners such as Deloitte, EY, Accenture, KPMG, DXC, and IBM. Over the years, The organization has acquired several companies such as Mirro42, Neebula Systems, SkyGiraffe, FriendlyData, and several others, as part of its expansion. Its main competitors are BMC Software, Pegasystems, Yonyou, Atlassian, and ServiceMax.

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