← Holdings
NOW

SERVICENOW INC

3 managers · $915M total
Data: SEC EDGAR 13F · 2026Q1
Manager holders · last 4 qtrsⓘ
3
2025Q2 – 2026Q1 · flat QoQ
Total position
$915M
Combined value across tracked managers
Net move this quarter
↑ Adding
Weighted by holders' share change
HolderQ actionValue% of port.Style
PolenⓘAdd+27.97%$760M5.26%Quality growth / GARP concentrated
AkreⓘNew$115M1.87%Quality compounders / Three-legged stool
LingottoAdd+36.65%$41M0.8%High-conviction growth / Innovation-led
What managers sayⓘ
2026-07-15Akre Capital ManagementBullAkre Focus ETF Quarterly CommentaryDetail →
2026-04-22Horos Asset ManagementBearLetter to our co-investors 1Q26Detail →
2026-02-27The Capital Cycle (Marathon)BearAI eats software? (February 2026)Detail →
Earnings Callsⓘ
Q3 2026April 22, 2026
›
Overall Conclusion This quarter's results exceeded expectations, primarily driven by the surge in demand for the GenAI platform Now Assist, accelerated large-deal growth, and platform expansion.
Key Data Subscription revenue $2.715B, +22.5% YoY; cRPO $9.36B, +23.5% YoY; 96 net new ACV deals over $1M, 15 over $5M.
Business Progress Now Assist has 44 customers over $1M, Xanadu launched 350+ AI innovations, RaptorDB and Workflow Data Fabric introduced, which can accelerate transactions 12x, partnerships with NVIDIA and Databricks, strong federal business, financial and TMT verticals growing over 100%.
Guidance and Outlook Full-year subscription revenue guidance raised to $10.655B-$10.66B (+23% YoY), Q4 cRPO growth 21.5%, operating margin 29%.
Risk/Highlight Signals Management tone was extremely positive, emphasizing AI platform leadership, execution strength, and strategic hiring, with no negative signals mentioned.
FinancialsⓘFY2025 · Source: SEC EDGAR 10-K

5y revenue CAGR 23% · latest net margin 13.2% · FCF consistently positive

Revenue$13.3B
Rev. YoY+20.9%
Gross margin77.5%
Net margin13.2%
Net income$1.75B
Free cash flow$4.58B
Operating cash flow$5.44B
ROE13.5%

Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.