Stock Analysis on Net

ServiceNow Inc. (NYSE:NOW)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

ServiceNow Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Subscription 8,680 6,891 5,573 4,286 3,255
Professional services and other 291 354 323 234 205
Revenues 8,971 7,245 5,896 4,519 3,460
Subscription (1,606) (1,187) (1,022) (731) (550)
Professional services and other (315) (386) (331) (256) (247)
Cost of revenues (1,921) (1,573) (1,353) (987) (797)
Gross profit 7,050 5,672 4,543 3,532 2,664
Sales and marketing (3,301) (2,814) (2,292) (1,855) (1,534)
Research and development (2,124) (1,768) (1,397) (1,024) (748)
General and administrative (863) (735) (597) (454) (339)
Operating expenses (6,288) (5,317) (4,286) (3,334) (2,622)
Income from operations 762 355 257 199 42
Interest income 302 82 20 39 55
Interest expense (24) (27) (28) (33) (33)
Other (32) (11) (56) 3
Other expense, net (56) (38) (28) (89) (30)
Income before income taxes 1,008 399 249 149 67
(Provision for) benefit from income taxes 723 (74) (19) (31) 560
Net income 1,731 325 230 119 627

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. ServiceNow Inc. revenues increased from 2021 to 2022 and from 2022 to 2023.
Income from operations The net result for the period of deducting operating expenses from operating revenues. ServiceNow Inc. income from operations increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. ServiceNow Inc. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. ServiceNow Inc. net income increased from 2021 to 2022 and from 2022 to 2023.