ServiceNow had their strongest Q4 ever with $665M in subscription revenue, representing 33% growth. They closed 51 transactions in the quarter with over $1M in annual contract value (ACV). They now have 678 customers with over $1M in ACV, which represents 33% growth. ServiceNow is not only successfully selling their core IT products (ITSM, ITOM, ITBM, ITAM) but they are also having success with their emerging products (CSM, HR, Security Ops, Intelligent Apps). 31% of net new ACV was tied to emerging products, up from 25% last year. Expect ServiceNow to continue to focus on their current customer relationships to drive growth moving forward. They know that there is a large opportunity to continue to drive revenue through expansion of their products, adding new products, and increasing the use of what is already landed.
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