10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||
| |||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Revenues: | |||
| Total revenues | $ 5,896 | 4,519 | 3,460 |
| Cost of revenues: | |||
| Total cost of revenues | 1,353 | 987 | 796 |
| Gross profit | 4,543 | 3,532 | 2,664 |
| Operating expenses: | |||
| Sales and marketing | 2,292 | 1,855 | 1,534 |
| Research and development | 1,397 | 1,024 [1] | 749 |
| General and administrative | 597 | 454 | 339 |
| Total operating expenses | 4,286 | 3,333 | 2,622 |
| Income from operations | 257 | 199 | 42 |
| Interest expense | (28) | (33) | (33) |
| Other income (expense), net | 20 | (16) | 58 |
| Income before income taxes | 249 | 150 | 67 |
| Provision for (benefit from) income taxes | 19 | 31 | (560) |
| Net income | 230 | 119 | 627 |
| Net income per share - basic (in USD per share) | 1.16 | 0.61 | 3.36 |
| Net income per share - diluted (in USD per share) | 1.13 | 0.59 | 3.18 |
| Weighted-average shares used to compute net income per share - basic (in shares) | 198,094,000 | 193,096,000 | 186,466,000 |
| Weighted-average shares used to compute net income per share - diluted (in shares) | 203,167,000 | 202,478,000 | 197,223,000 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (41) | 66 | 20 |
| Unrealized gains (losses) on investments, net of tax | (19) | 3 | 9 |
| Other comprehensive income (loss) | (60) | 69 | 29 |
| Comprehensive income | 170 | 188 | 656 |
| Product and Service | |||
| Subscription | |||
| Total revenues | 5,573 | 4,286 | 3,255 |
| Total cost of revenues | 1,022 | 731 | 549 |
| Professional services and other | |||
| Total revenues | 323 | 233 | 205 |
| Total cost of revenues | 331 | 256 | 247 |
| [1] Includes stock-based compensation as follows: Year Ended December 31, 202120202019Cost of revenues:Subscription$128 $98 $73 Professional services and other59 52 43 Operating expenses:Sales and marketing389 320 268 Research and development395 282 195 General and administrative160 118 83 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities: | |||
| Net income | $ 230 | 119 | 627 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 472 | 336 | 252 |
| Amortization of deferred commissions | 294 | 218 | 168 |
| Amortization of debt discount and issuance costs | 7 | 24 | 33 |
| Stock-based compensation | 1,131 | 870 | 662 |
| Deferred income taxes | (34) | (24) | (576) |
| Repayments of convertible senior notes attributable to debt discount | (15) | (82) | 0 |
| Loss on extinguishment of 2022 Notes | 3 | 47 | 0 |
| Other | 45 | (2) | (8) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (401) | (152) | (260) |
| Deferred commissions | (565) | (365) | (255) |
| Prepaid expenses and other assets | (93) | (55) | (30) |
| Accounts payable | 55 | (34) | 21 |
| Deferred revenue | 960 | 711 | 537 |
| Accrued expenses and other liabilities | 102 | 175 | 65 |
| Net cash provided by operating activities | 2,191 | 1,786 | 1,236 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (392) | (419) | (265) |
| Business combinations, net of cash acquired | (785) | (107) | (7) |
| Purchases of intangibles | (7) | (13) | (73) |
| Purchases of investments | (2,485) | (2,922) | (1,596) |
| Purchases of strategic investments | (71) | (12) | 0 |
| Sales and maturities of investments | 2,119 | 1,965 | 1,193 |
| Other | 14 | 1 | 23 |
| Net cash used in investing activities | (1,607) | (1,507) | (725) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on 2030 Notes | 0 | 1,482 | 0 |
| Repayments of convertible senior notes attributable to principal | (61) | (1,628) | 0 |
| Net proceeds from unwind of 2022 Note Hedge | 0 | 1,106 | 0 |
| Proceeds from employee stock plans | 167 | 146 | 108 |
| Taxes paid related to net share settlement of equity awards | (612) | (509) | (410) |
| Net cash provided by (used in) financing activities | (506) | 597 | (302) |
| Foreign currency effect on cash, cash equivalents and restricted cash | (25) | 25 | 0 |
| Net increase in cash, cash equivalents and restricted cash | 53 | 901 | 209 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,679 | 778 | |
| Cash, cash equivalents and restricted cash at end of period | 1,732 | 1,679 | 778 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 1,728 | 1,677 | 776 |
| Current portion of restricted cash included in prepaid expenses and other current assets | 4 | 2 | 2 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 1,732 | 1,679 | 778 |
| Supplemental disclosures of other cash flow information: | |||
| Interest paid | 41 | 0 | 0 |
| Income taxes paid, net of refunds | 36 | 39 | 20 |
| Non-cash investing and financing activities: | |||
| Settlement of 2022 Notes conversion feature | 225 | 275 | 0 |
| Benefit from exercise of 2022 Note Hedge | 224 | 273 | 0 |
| Property and equipment included in accounts payable and accrued expenses | 63 | 35 | 57 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SERVICENOW, INC. | ||
Ticker: NOW Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 3, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,728 | 1,677 |
| Short-term investments | 1,576 | 1,415 |
| Accounts receivable, net | 1,390 | 1,009 |
| Current portion of deferred commissions | 303 | 229 |
| Prepaid expenses and other current assets | 223 | 192 |
| Total current assets | 5,220 | 4,522 |
| Deferred commissions, less current portion | 623 | 444 |
| Long-term investments | 1,630 | 1,468 |
| Property and equipment, net | 766 | 660 |
| Operating lease right-of-use assets | 591 | 454 |
| Intangible assets, net | 287 | 153 |
| Goodwill | 777 | 241 |
| Deferred tax assets | 692 | 673 |
| Other assets | 212 | 100 |
| Total assets | 10,798 | 8,715 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 89 | 34 |
| Accrued expenses and other current liabilities | 850 | 668 |
| Current portion of deferred revenue | 3,836 | 2,963 |
| Current portion of operating lease liabilities | 82 | 72 |
| Current debt, net | 92 | 0 |
| Total current liabilities | 4,949 | 3,737 |
| Deferred revenue, less current portion | 63 | 45 |
| Operating lease liabilities, less current portion | 556 | 423 |
| Long-term debt, net | 1,484 | 1,640 |
| Other long-term liabilities | 51 | 36 |
| Total liabilities | 7,103 | 5,881 |
| 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; 199,608 and 195,845 shares issued and outstanding at December 31,2021 and 2020, respectively | 0 | 0 |
| Additional paid-in capital | 3,665 | 2,974 |
| Accumulated other comprehensive income | 34 | 94 |
| Accumulated deficit | (4) | (234) |
| Total stockholders equity | 3,695 | 2,834 |
| Total liabilities and stockholders equity | 10,798 | 8,715 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2021 | |
| 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 |