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: 2020 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 12, 2021) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Revenues: | |||
| Total revenues | $ 4,519,484 | 3,460,437 | 2,608,816 |
| Cost of revenues: | |||
| Total cost of revenues | 987,113 | 796,645 | 622,658 |
| Gross profit | 3,532,371 | 2,663,792 | 1,986,158 |
| Operating expenses: | |||
| Sales and marketing | 1,855,016 | 1,534,284 | 1,203,056 |
| Research and development | 1,024,327 | 748,369 | 529,501 |
| General and administrative | 454,165 | 339,016 | 296,027 |
| Total operating expenses | 3,333,508 | 2,621,669 | 2,028,584 |
| Income (loss) from operations | 198,863 | 42,123 | (42,426) |
| Interest expense | (32,746) | (33,283) | (52,733) |
| Interest income and other, net | (16,932) | 58,345 | 56,135 |
| Income (loss) before income taxes | 149,185 | 67,185 | (39,024) |
| Provision for (benefit from) income taxes | 30,682 | (559,513) | (12,320) |
| Net income (loss) | 118,503 | 626,698 | (26,704) |
| Net income (loss) per share - basic (in USD per share) | 0.61 | 3.36 | (0.15) |
| Net income (loss) per share - diluted (in USD per share) | 0.59 | 3.18 | (0.15) |
| Weighted-average shares used to compute net income (loss) per share - basic (in shares) | 193,096 | 186,466 | 177,846 |
| Weighted-average shares used to compute net income (loss) per share - diluted (in shares) | 202,478 | 197,223 | 177,846 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | 66,243 | 20,539 | (1,903) |
| Unrealized gains (losses) on investments, net of tax | 2,731 | 8,751 | (665) |
| Other comprehensive income (loss) | 68,974 | 29,290 | (2,568) |
| Comprehensive income (loss) | 187,477 | 655,988 | (29,272) |
| Product and Service | |||
| Subscription | |||
| Total revenues | 4,285,797 | 3,255,079 | 2,421,313 |
| Total cost of revenues | 730,835 | 549,642 [1] | 417,421 |
| Professional services and other | |||
| Total revenues | 233,687 | 205,358 | 187,503 |
| Total cost of revenues | 256,278 | 247,003 | 205,237 |
| [1] Includes stock-based compensation as follows: Year Ended December 31, 202020192018Cost of revenues:Subscription$98,258 $72,728 $48,738 Professional services and other51,553 43,123 32,816 Sales and marketing320,328 268,408 228,045 Research and development282,244 194,821 135,203 General and administrative118,070 83,115 99,151 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 12, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $ 118,503 | 626,698 | (26,704) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 336,381 | 252,114 | 149,604 |
| Amortization of deferred commissions | 217,631 | 168,014 | 143,358 |
| Amortization of debt discount and issuance costs | 24,478 | 33,283 | 52,733 |
| Stock-based compensation | 870,453 | 662,195 | 543,953 |
| Deferred income taxes | (24,481) | (575,765) | (34,180) |
| Repayments of convertible senior notes attributable to debt discount | (81,958) | 0 | (145,349) |
| Loss on extinguishment of debt | 46,611 | 0 | 0 |
| Other | (2,493) | (8,921) | (13,080) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (151,431) | (259,835) | (146,148) |
| Deferred commissions | (365,264) | (255,605) | (239,382) |
| Prepaid expenses and other assets | (54,203) | (29,907) | (19,886) |
| Accounts payable | (33,583) | 21,355 | (4,757) |
| Deferred revenue | 710,998 | 537,249 | 468,856 |
| Accrued expenses and other liabilities | 174,957 | 65,097 | 82,071 |
| Net cash provided by operating activities | 1,786,599 | 1,235,972 | 811,089 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (419,327) | (264,892) | (224,462) |
| Business combinations, net of cash acquired | (107,236) | (7,414) | (37,440) |
| Purchases of intangibles | (13,190) | (72,689) | (24,400) |
| Purchases of investments | (2,933,876) | (1,595,667) | (1,295,782) |
| Sales and maturities of investments | 1,965,429 | 1,192,750 | 1,234,662 |
| Realized gains on derivatives not designated as hedging instruments, net | 1,328 | 23,435 | 0 |
| Net cash used in investing activities | (1,506,872) | (724,477) | (347,422) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on 2030 Notes | 1,481,633 | 0 | 0 |
| Repayments of convertible senior notes attributable to principal | (1,627,690) | (9) | (429,645) |
| Net proceeds from unwind of 2022 Note Hedge | 1,105,542 | 0 | 0 |
| Proceeds from employee stock plans | 145,766 | 107,868 | 104,160 |
| Taxes paid related to net share settlement of equity awards | (508,604) | (409,715) | (281,010) |
| Payments on financing obligations | 0 | 0 | (933) |
| Net cash provided by (used in) financing activities | 596,647 | (301,856) | (607,428) |
| Foreign currency effect on cash, cash equivalents and restricted cash | 25,065 | (186) | (15,530) |
| Net increase in cash, cash equivalents and restricted cash | 901,439 | 209,453 | (159,291) |
| Cash, cash equivalents and restricted cash at beginning of period | 777,991 | 568,538 | |
| Cash, cash equivalents and restricted cash at end of period | 1,679,430 | 777,991 | 568,538 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 1,676,794 | 775,778 | 566,204 |
| Current portion of restricted cash included in prepaid expenses and other current assets | 2,636 | 2,213 | 2,334 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 1,679,430 | 777,991 | 568,538 |
| Supplemental disclosures of other cash flow information: | |||
| Income taxes paid, net of refunds | 39,212 | 20,471 | 17,507 |
| Non-cash investing and financing activities: | |||
| Property and equipment included in accounts payable and accrued expenses | 34,839 | 56,966 | 25,767 |
| Purchase of intangible assets included in accrued expenses and other liabilities | 0 | 0 | 8,500 |
| Debt Instrument | |||
| 2022 Notes | |||
| Settlement of 2018 Notes conversion feature | 275,273 | 0 | 0 |
| 2018 Notes | |||
| Settlement of 2018 Notes conversion feature | 0 | 0 | 773,302 |
| Derivative Instrument | |||
| 2022 Note Hedge | |||
| Benefit from exercise of 2018 Note Hedge | 273,442 | 0 | 0 |
| 2018 Note Hedge | |||
| Benefit from exercise of 2018 Note Hedge | 0 | 0 | 766,858 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SERVICENOW, INC. | ||
Ticker: NOW Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 12, 2021) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,676,794 | 775,778 |
| Short-term investments | 1,415,242 | 915,317 |
| Accounts receivable, net | 1,009,415 | 835,279 |
| Current portion of deferred commissions | 228,924 | 175,039 |
| Prepaid expenses and other current assets | 191,467 | 125,488 |
| Total current assets | 4,521,842 | 2,826,901 |
| Deferred commissions, less current portion | 444,068 | 333,448 |
| Long-term investments | 1,468,006 | 1,013,332 |
| Property and equipment, net | 659,641 | 468,085 |
| Operating lease right-of-use assets | 454,218 | 402,428 |
| Intangible assets, net | 153,367 | 143,850 |
| Goodwill | 240,764 | 156,756 |
| Deferred tax assets | 673,111 | 599,633 |
| Other assets | 100,040 | 77,997 |
| Total assets | 8,715,057 | 6,022,430 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 34,236 | 52,960 |
| Accrued expenses and other current liabilities | 668,093 | 461,403 |
| Current portion of deferred revenue | 2,962,579 | 2,185,754 |
| Current portion of operating lease liabilities | 72,236 | 52,668 |
| Total current liabilities | 3,737,144 | 2,752,785 |
| Deferred revenue, less current portion | 45,346 | 40,038 |
| Operating lease liabilities, less current portion | 422,779 | 383,221 |
| Long-term debt | 1,640,153 | 694,981 |
| Other long-term liabilities | 35,154 | 23,464 |
| Total liabilities | 5,880,576 | 3,894,489 |
| Commitments and contingencies | ||
| Stockholders equity: | ||
| Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued or outstanding | 0 | 0 |
| Common stock $0.001 par value; 600,000 shares authorized; 195,844 and 189,461 shares issued and outstanding at December 31, 2020 and 2019, respectively | 196 | 189 |
| Additional paid-in capital | 2,973,797 | 2,454,741 |
| Accumulated other comprehensive income | 94,229 | 25,255 |
| Accumulated deficit | (233,741) | (352,244) |
| Total stockholders equity | 2,834,481 | 2,127,941 |
| Total liabilities and stockholders equity | 8,715,057 | 6,022,430 |
| Common stock, shares authorized (in shares) | 600,000,000 | 600,000,000 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2020 | |
| 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 |