ServiceNow, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015
January 28, 2015 at 09:08 pm
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ServiceNow, Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2014. For the quarter, total revenues were $198,004,000 against $125,230,000 for the same period of last year. Loss from operations was $36,684,000 against $19,361,000 for the same period of last year. Loss before provision for income taxes was $43,246,000 against $23,687,000 for the same period of last year. Net loss was $44,663,000 against $24,232,000 for the same period of last year. Basic and diluted LPS was $0.30 against $0.17 for the same period of last year. Net cash provided by operating activities was $47,624,000 against $36,267,000 for the same period of last year. Purchases of property and equipment were $8,880,000 against $16,262,000 for the same period of last year. Non-GAAP net income was $4,887,000 or loss of $0.03 per basic and diluted share, compared to a non-GAAP net loss of $2,521,000 or $0.02 per basic and diluted share, in the fourth quarter of 2013. Non-GAAP income from operations was $12,349,000 against $1,912,000 for the same period of last year. Non-GAAP income before provision for income taxes was $13,238,000 against $1,084,000 for the same period of last year.
For the year, total revenues were $682,563,000 against $424,650,000 for the same period of last year. Loss from operations was $151,835,000 against $66,267,000 for the same period of last year. Loss before provision for income taxes was $175,540,000 against $71,197,000 for the same period of last year. Net loss was $179,387,000 against $73,708,000 for the same period of last year. Basic and diluted LPS was $1.23 against $0.54 for the same period of last year. Net cash provided by operating activities was $138,900,000 against $81,746,000 for the same period of last year. Purchases of property and equipment were $54,379,000 against $55,321,000 for the same period of last year. A non-GAAP net loss of $10,116,000 or a loss of $0.07 per basic and diluted share, compared to non-GAAP net loss of $9,612,000 or a loss of $0.07 per basic and diluted share, in the prior year. Non-GAAP income from operations was $10,301,000 against $714,000 for the same period of last year. Non-GAAP income before provision for income taxes was $15,655,000 against non-GAAP loss before provision for income taxes of $718,000 for the same period of last year.
For the first quarter of 2015 ending March 31, 2015, the company expects GAAP total gross margin of 63%, GAAP operating margin of 28% and non-GAAP total gross margin of 69%. Non-GAAP free cash flows expected to be $30 million. Purchases of property and equipment expected to be $26 million. GAAP net cash provided by operating activities expected to be $56 million. The company expects total revenues between $207 and $212 million, representing year-over-year growth between 49% and 52%. Total first quarter revenue estimate consists of subscription revenues between $176 and $180 million and professional services and other revenues between $31 and $32 million.
For the full year ending December 31, 2015, the company expects total non-GAAP operating margin of 5%. GAAP operating margin expected to be 23%. The company expects total revenues to be in the range of $960 million to $1 billion, representing year-over-year growth between 41% and 47%. Total annual revenue estimate consists of subscription revenues between $810 and $840 million and professional services and other revenues between $150 and $160 million.
ServiceNow, Inc. is specialized in the development of digital workflow solutions. The group delivers applications to automate the IT operations of companies, optimize employee workflows, improve business processes, etc.
Net sales by revenue source are divided between sales of subscriptions (96.8%) and professional services (3.2%).
Net sales are distributed geographically as follows: North America (63.6%), Europe/Middle East/Africa (25.6%) and other (10.8%).
ServiceNow, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015 and Full Year Ending December 31, 2015