10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Loss | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenues: | |||
| Subscription | $ 1,221,639 | 848,278 | 567,217 |
| Professional services and other | 168,874 | 157,202 | 115,346 |
| Total revenues | 1,390,513 | 1,005,480 | 682,563 |
| Cost of revenues: | |||
| Subscription | 235,414 | 183,400 | 142,687 |
| Professional services and other | 163,268 | 146,013 | 106,089 |
| Total cost of revenues | 398,682 | 329,413 | 248,776 |
| Gross profit | 991,831 | 676,067 | 433,787 |
| Operating expenses: | |||
| Sales and marketing | 700,464 | 498,439 [1] | 341,119 |
| Research and development | 285,239 | 217,389 | 148,258 |
| General and administrative | 158,936 | 126,604 | 96,245 |
| Legal settlements | 270,000 | 0 | 0 |
| Total operating expenses | 1,414,639 | 842,432 | 585,622 |
| Loss from operations | (422,808) | (166,365) | (151,835) |
| Interest expense | (33,278) | (31,097) | (29,059) |
| Interest income and other income (expense), net | 6,035 | 4,450 | 5,354 |
| Loss before provision for income taxes | (450,051) | (193,012) | (175,540) |
| Provision for income taxes | 1,753 | 5,414 | 3,847 |
| Net loss | (451,804) | (198,426) | (179,387) |
| Net loss per share- basic and diluted (in USD per share) | (2.75) | (1.27) | (1.23) |
| Weighted-average shares used to compute net loss per share - basic and diluted | 164,533,823 | 155,706,643 | 145,355,543 |
| Other comprehensive loss: | |||
| Foreign currency translation adjustments | (4,839) | (3,177) | (11,027) |
| Unrealized (loss) gain on investments, net of tax | 588 | (1,592) | (610) |
| Other comprehensive loss | (4,251) | (4,769) | (11,637) |
| Comprehensive loss | (456,055) | (203,195) | (191,024) |
| [1] Includes stock-based compensation as follows: Year Ended December 31, 2016 2015 2014Cost of revenues: Subscription$28,420 $23,416 $14,988Professional services and other26,442 23,265 13,116Sales and marketing131,571 102,349 54,006Research and development81,731 70,326 42,535General and administrative49,416 38,357 29,674 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities: | |||
| Net loss | $ (451,804) | (198,426) | (179,387) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 83,082 | 60,356 | 42,059 |
| Amortization of premiums on investments | 4,725 | 7,064 | 8,084 |
| Amortization of deferred commissions | 81,217 | 65,541 | 51,270 |
| Amortization of debt discount and issuance costs | 33,278 | 31,097 | 29,059 |
| Stock-based compensation | 317,580 | 257,713 | 154,319 |
| Deferred income tax | (3,424) | (1,282) | (1,198) |
| Other | (962) | (6,223) | (4,469) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (125,106) | (50,855) | (56,785) |
| Deferred commissions | (136,459) | (80,142) | (73,786) |
| Prepaid expenses and other assets | (21,500) | (10,961) | (5,540) |
| Accounts payable | (3,554) | 14,785 | 10,223 |
| Deferred revenue | 300,167 | 195,900 | 168,393 |
| Accrued expenses and other liabilities | 82,681 | 33,187 | (1,305) |
| Net cash provided by operating activities(1) | 159,921 | 317,754 | 140,937 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (105,562) | (87,481) | (54,379) |
| Business combinations, net of cash acquired | (34,297) | (1,100) | (99,813) |
| Purchases of other intangibles | (18,750) | (1,750) | 0 |
| Purchases of investments | (518,664) | (712,782) | (521,393) |
| Purchases of strategic investments | (500) | (10,500) | 0 |
| Sales of investments | 297,998 | 277,045 | 166,997 |
| Maturities of investments | 271,537 | 305,047 | 191,715 |
| Restricted cash | (210) | (222) | (55) |
| Net cash used in investing activities | (108,448) | (231,743) | (316,928) |
| Cash flows from financing activities: | |||
| Proceeds from employee stock plans | 66,378 | 93,348 | 69,396 |
| Taxes paid related to net share settlement of equity awards | (119,907) | (12,795) | (661) |
| Payments on financing obligations | (2,223) | (223) | 0 |
| Net cash (used in) provided by financing activities(1) | (55,752) | 80,330 | 68,735 [1] |
| Foreign currency effect on cash and cash equivalents | (6,788) | (6,491) | (6,592) |
| Net increase (decrease) in cash and cash equivalents | (11,067) | 159,850 | (113,848) |
| Cash and cash equivalents at beginning of period | 412,305 | 252,455 | |
| Cash and cash equivalents at end of period | 401,238 | 412,305 | 252,455 |
| Supplemental disclosures of other cash flow information: | |||
| Income taxes paid, net of refunds | 4,338 | 3,630 | 12,604 |
| Non-cash investing and financing activities: | |||
| Property and equipment included in accounts payable and accrued expenses | 15,381 | 14,427 | 10,313 |
| Financing obligations for purchases of other intangibles | 6,210 | 0 | 0 |
| Financing obligation for property and equipment | 0 | 0 | 6,161 |
| New Accounting Pronouncement, Early Adoption | |||
| New accounting pronouncement, early adoption, effect | |||
| Net cash provided by operating activities | 2,700 | 2,000 | |
| Net cash provided by financing activities | (2,700) | (2,000) | |
| [1] During the year ended December 31, 2016, we early adopted Accounting Standards Update 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." Refer to Note 2 Recent Accounting Pronouncements for further details. This adoption resulted in a $2.7 million increase in net cash provided by operating activities and a corresponding $2.7 million decrease in net cash provided by financing activities for the year ended December 31, 2015, and a $2.0 million incr | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SERVICENOW, INC. | ||
Ticker: NOW Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 28, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 401,238 | 412,305 |
| Short-term investments | 498,124 | 388,945 |
| Accounts receivable, net | 322,757 | 203,333 |
| Current portion of deferred commissions | 76,780 | 51,976 |
| Prepaid expenses and other current assets | 43,636 | 29,076 |
| Total current assets | 1,342,535 | 1,085,635 |
| Deferred commissions, less current portion | 61,990 | 33,016 |
| Long-term investments | 262,658 | 422,667 |
| Property and equipment, net | 181,620 | 144,714 |
| Intangible assets, net | 65,854 | 43,005 |
| Goodwill | 82,534 | 55,669 |
| Other assets | 36,576 | 22,346 |
| Total assets | 2,033,767 | 1,807,052 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 38,080 | 37,369 |
| Accrued expenses and other current liabilities | 171,636 | 101,264 |
| Current portion of deferred revenue | 861,782 | 593,003 |
| Total current liabilities | 1,071,498 | 731,636 |
| Deferred revenue, less current portion | 33,319 | 10,751 |
| Convertible senior notes, net | 507,812 | 474,534 |
| Other long-term liabilities | 34,177 | 23,317 |
| Total liabilities | 1,646,806 | 1,240,238 |
| Commitments and contingencies | ||
| Stockholders equity: | ||
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
| Common stock $0.001 par value; 600,000,000 shares authorized; 167,430,773 and 160,785,764 shares issued and outstanding at December 31, 2016 and 2015, respectively | 167 | 160 |
| Additional paid-in capital | 1,405,317 | 1,140,545 |
| Accumulated other comprehensive loss | (21,133) | (16,882) |
| Accumulated deficit | (997,390) | (557,009) |
| Total stockholders equity | 386,961 | 566,814 |
| Total liabilities and stockholders equity | 2,033,767 | 1,807,052 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2016 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |