ServiceNow Q2 Earnings – Strong Growth Tied to New Customers and Upselling

ServiceNow had another strong quarter beating expectations and reporting significant subscription revenue growth. ServiceNow closed 28 deals in the quarter with an average contract value (“ACV”) of greater than $1M, bringing the total number of customers spending $1M or more annually to an impressive 575. ServiceNow is leveraging the widespread need to make successful digital transformations to elevate awareness of ServiceNow’s products within enterprises to the C-Suite and CEO. ServiceNow is focused on adding new customers but also understands that upsells represent greater opportunity. Whether you are considering ServiceNow for the first time or are already a customer, it is critical that you not only negotiate the proper upfront pricing but ensure you have the proper price protections and flexibility built into your contracts.