"When Bill McDermott took the helm of ServiceNow in 2019, the company was doing $3.5 billion in annual subscription revenue. This year, it will finish at nearly $16 billion. 'We are printing a new ServiceNow every year,' he told reporters at the company's annual Knowledge conference in Las Vegas on Tuesday."
"CFO Gina Mastantuono noted that in 2021, the company set a five-year target of $15 billion and is on track to beat it by half a billion dollars, organically. 'Our momentum puts us on pace to double that target in 2030 - that's $30 billion-plus in subscription revenue,' she said."
"ServiceNow currently holds $27.7 billion in remaining performance obligations - approximately double its annual revenue - a metric McDermott cited on CNBC Tuesday as evidence the company is 'growing faster than any other enterprise software company at scale in the world. Ever.'"
"The most closely watched number at the analyst day was the trajectory of Now Assist, ServiceNow's AI product line. The company crossed $600 million in Now Assist annual contract value in 2025 - more than doubling year-over-year - and entered Q1 2026 at $750 million."
ServiceNow has experienced substantial growth under Bill McDermott, increasing annual subscription revenue from $3.5 billion in 2019 to nearly $16 billion. The company plans to double its revenue again by 2030, targeting over $30 billion. CFO Gina Mastantuono emphasized the company's strong momentum, having exceeded its previous five-year target. ServiceNow's pipeline includes $27.7 billion in remaining performance obligations, indicating robust growth potential. The AI product line, Now Assist, has also seen significant growth, with annual contract value projected to reach $750 million in 2026.
Read at Fortune
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