Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

ServiceNow Inc., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net income	502)	385)	460)	384)	432)	262)	347)	295)	242)	1,044)	150)	150)	80)	20)	75)	26)	63)	59)	82)	17)	13)	41)	48)
Depreciation and amortization	194)	172)	160)	154)	144)	136)	130)	154)	146)	136)	126)	118)	109)	105)	101)	126)	125)	115)	106)	93)	85)	82)	76)
Amortization of deferred commissions	161)	148)	145)	147)	140)	132)	131)	126)	115)	112)	106)	97)	92)	86)	83)	83)	75)	70)	66)	60)	56)	52)	49)
Stock-based compensation	492)	499)	470)	454)	426)	444)	422)	413)	413)	397)	381)	363)	361)	352)	325)	303)	291)	281)	256)	245)	220)	217)	188)
Deferred income taxes	124)	16)	32)	51)	(5)	24)	28)	17)	30)	(911)	7)	18)	—)	(1)	(2)	(13)	(5)	(17)	1)	(18)	(3)	(2)	(2)
Other	(19)	58)	4)	(20)	(6)	(7)	(18)	13)	(11)	(3)	1)	8)	(10)	4)	15)	18)	13)	(1)	10)	(9)	(19)	4)	11)
Accounts receivable	141)	(302)	901)	(981)	228)	(216)	715)	(852)	(83)	16)	619)	(785)	(66)	(51)	562)	(620)	(5)	(130)	354)	(362)	10)	(9)	209)
Deferred commissions	(171)	(136)	(155)	(252)	(155)	(141)	(165)	(264)	(173)	(121)	(159)	(197)	(132)	(100)	(137)	(221)	(127)	(103)	(114)	(144)	(77)	(73)	(71)
Prepaid expenses and other assets	23)	(83)	(139)	(65)	(15)	(146)	(106)	(20)	(47)	(72)	(64)	34)	(1)	(26)	(46)	(15)	(21)	(54)	(3)	(13)	(9)	(12)	(20)
Accounts payable	(85)	(101)	234)	(94)	(130)	65)	107)	46)	(98)	(44)	(46)	56)	(24)	71)	69)	16)	(36)	(14)	89)	(35)	(36)	17)	21)
Deferred revenue	(449)	(116)	(148)	1,534)	(263)	(82)	(10)	1,302)	(128)	(129)	40)	1,060)	(112)	(65)	21)	913)	(38)	10)	75)	644)	(3)	9)	60)
Accrued expenses and other liabilities	(100)	176)	(287)	323)	(125)	149)	(240)	375)	(95)	155)	(259)	240)	(32)	38)	(203)	228)	(15)	84)	(195)	206)	5)	42)	(78)
Changes in operating assets and liabilities, net of effect of business combinations	(641)	(562)	406)	465)	(460)	(371)	301)	587)	(624)	(195)	131)	408)	(367)	(133)	266)	301)	(242)	(207)	206)	297)	(110)	(26)	120)
Adjustments to reconcile net income to net cash provided by operating activities	311)	331)	1,217)	1,251)	239)	358)	994)	1,310)	69)	(464)	752)	1,012)	185)	413)	788)	818)	257)	241)	645)	669)	229)	327)	443)
Net cash provided by operating activities	813)	716)	1,677)	1,635)	671)	620)	1,341)	1,605)	311)	580)	902)	1,162)	265)	433)	863)	844)	320)	300)	727)	686)	241)	368)	492)
Purchases of property and equipment	(235)	(190)	(205)	(253)	(202)	(262)	(135)	(261)	(136)	(132)	(165)	(144)	(162)	(151)	(93)	(100)	(94)	(91)	(107)	(134)	(92)	(110)	(83)
Business combinations, net of cash acquired	(139)	(58)	(18)	(31)	(41)	(31)	(10)	—)	(279)	—)	—)	(34)	—)	(57)	—)	(7)	(40)	(513)	(225)	—)	(25)	—)	(83)
Purchases of other intangibles	(9)	—)	(34)	(10)	—)	(9)	(21)	—)	(3)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchases of marketable securities	(397)	(1,182)	(1,140)	(1,079)	(1,292)	(1,055)	(1,605)	(829)	(984)	(1,599)	(1,222)	(1,227)	(1,037)	(1,112)	(662)	(744)	(609)	(488)	(644)	(705)	(1,121)	(580)	(528)
Purchases of strategic investments	(882)	(134)	(4)	(32)	(61)	(46)	(42)	(19)	(10)	(16)	(30)	(29)	(2)	(35)	(101)	(43)	(21)	(7)	—)	—)	—)	—)	—)
Sales and maturities of marketable securities	1,129)	1,100)	1,181)	728)	911)	1,040)	1,073)	654)	915)	1,073)	880)	545)	569)	554)	577)	540)	556)	491)	532)	666)	534)	453)	313)
Other	(18)	41)	3)	(61)	27)	(8)	6)	11)	(28)	—)	13)	15)	3)	1)	(1)	(5)	11)	(6)	7)	(5)	2)	(6)	(4)
Net cash used in investing activities	(551)	(423)	(217)	(738)	(658)	(371)	(734)	(444)	(525)	(674)	(524)	(874)	(629)	(800)	(280)	(359)	(197)	(614)	(437)	(177)	(702)	(243)	(385)
Net proceeds from borrowings on 2030 Notes	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,482)	—)	—)
Repayments of convertible senior notes attributable to principal	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(88)	(6)	(2)	(6)	(25)	(28)	(59)	(1,553)	(14)	(2)
Net proceeds from unwind of 2022 Note Hedge	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,106)	—)	—)
Proceeds from employee stock plans	117)	—)	153)	—)	106)	—)	131)	1)	76)	—)	117)	—)	71)	1)	105)	2)	70)	—)	95)	3)	51)	24)	67)
Repurchases of common stock	(584)	(361)	(298)	(296)	(225)	—)	(175)	(256)	(282)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Taxes paid related to net share settlement of equity awards	(190)	(185)	(253)	(175)	(173)	(137)	(215)	(126)	(127)	(94)	(112)	(75)	(111)	(91)	(150)	(155)	(142)	(124)	(191)	(148)	(122)	(113)	(126)
Business combination	—)	—)	—)	—)	—)	—)	(184)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	(657)	(546)	(398)	(471)	(292)	(137)	(443)	(381)	(333)	(94)	5)	(75)	(40)	(178)	(51)	(155)	(78)	(149)	(124)	(203)	963)	(102)	(61)
Foreign currency effect on cash, cash equivalents and restricted cash	(4)	9)	5)	(9)	5)	(9)	(4)	5)	(4)	(1)	1)	8)	(12)	(44)	(5)	(4)	(10)	7)	(18)	22)	8)	6)	(11)
Net change in cash, cash equivalents and restricted cash	(399)	(244)	1,067)	417)	(274)	103)	160)	785)	(551)	(189)	384)	221)	(416)	(589)	527)	326)	35)	(456)	148)	328)	510)	29)	35)

Net Income: Net income exhibits substantial variability across the observed quarters, with notable peaks notably in June 2023 and December 2023 exceeding 1 billion USD, followed by relatively high but more volatile figures in subsequent periods. Earlier quarters maintained lower yet positive levels, indicating increased profitability and periodic earnings spikes in recent years.
Depreciation and Amortization: Depreciation and amortization values generally show an upward trend, reflecting increased capital investments and longer-term asset utilization. While fluctuations occur, the overall direction is increasing, reaching nearly 200 million USD in the latest quarters.
Amortization of Deferred Commissions: This metric trends upward steadily throughout the periods, suggesting growing deferred revenue streams and associated contract costs amortization, reaching over 160 million USD toward the end of the timeline.
Stock-Based Compensation: Stock-based compensation expenses consistently rise over time, pointing to greater issuance or valuation of equity awards. The increasing trend, rising from under 200 million USD in early 2020 to nearly 500 million USD by late 2025, highlights a growing component of compensation expense linked to equity incentives.
Deferred Income Taxes: Deferred income taxes demonstrate notable volatility, including significant negative spikes in early 2023, followed by variable positive and negative fluctuations. The irregular pattern indicates changes in tax position or accounting adjustments during certain quarters.
Working Capital Components: Various working capital accounts show mixed and often volatile movements. Accounts receivable and deferred commissions fluctuate markedly, sometimes showing large positive or negative values, indicating changes in sales terms, timing of collections, or contract adjustments. Accounts payable and accrued liabilities also fluctuate but with less extreme variability. Deferred revenue shows strong volatility, with large positive spikes aligning with revenue recognition timing or contract billing patterns.
Net Cash Provided by Operating Activities: Operating cash flow generally exhibits positive values, with trends mirroring net income but displaying less volatility and some periods of decline or moderation. Peaks in operating cash flow occur intermittently, reaching over 1.6 billion USD in multiple quarters in 2024 and 2025, indicating strong cash generation from business operations.
Investing Activities: Investing cash flows are consistently negative, driven primarily by purchases of property, equipment, and marketable securities. The magnitude of outflows increases over time, suggesting ongoing capital expenditures and investment activity. Business combinations occur sporadically, contributing to the variability of investing cash flow.
Financing Activities: Financing cash flow is mostly negative, indicating cash outflows from activities such as stock repurchases, repayments of notes, and taxes paid related to equity awards. Noteworthy large inflows correspond to specific debt issuances, such as proceeds from 2030 Notes and note hedge transactions. Repurchases of common stock show substantial outflows during the latter quarters, underlining active share buyback programs.
Cash and Cash Equivalents Movement: Net changes in cash fluctuate between positive and negative quarters, reflecting the combined effects of operating, investing, and financing activities. Periods of strong cash inflows are interspersed with heavy outflows, consistent with the patterns seen in investment and financing decisions.
Overall Observations: The financial data reveals a company experiencing growth in profitability and operating cash generation, coupled with significant investment and capital allocation activities. The increasing stock-based compensation and depreciation/amortization expenses reflect expanded operations and long-term asset utilization. Cash flow volatility is influenced by large investment outlays and active financing transactions, including debt issuance and share repurchases. Working capital accounts demonstrate variability, indicating dynamic operational adjustments and revenue recognition timing.

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ServiceNow Inc. (NYSE:NOW)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data