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: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Jan 31, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Total revenues | $ 7,245 | 5,896 | 4,519 |
| Cost of revenues: | |||
| Total cost of revenues | 1,573 | 1,353 | 987 |
| Gross profit | 5,672 | 4,543 | 3,532 |
| Operating expenses: | |||
| Sales and marketing | 2,814 | 2,292 | 1,855 |
| Research and development | 1,768 | 1,397 | 1,024 |
| General and administrative | 735 | 597 | 454 [1] |
| Total operating expenses | 5,317 | 4,286 | 3,333 |
| Income from operations | 355 | 257 | 199 |
| Interest expense | (27) | (28) | (33) |
| Other income (expense), net | 71 | 20 | (16) |
| Income before income taxes | 399 | 249 | 150 |
| Provision for income taxes | 74 | 19 | 31 |
| Net income | 325 | 230 | 119 |
| Net income per share - basic (in USD per share) | 1.61 | 1.16 | 0.61 |
| Net income per share - diluted (in USD per share) | 1.60 | 1.13 | 0.59 |
| Weighted-average shares used to compute net income per share - basic (in shares) | 201,430,000 | 198,094,000 | 193,096,000 |
| Weighted-average shares used to compute net income per share - diluted (in shares) | 203,535,000 | 203,167,000 | 202,478,000 |
| Other comprehensive income (loss): | |||
| Foreign currency translation adjustments | (70) | (41) | 66 |
| Unrealized gains (losses) on investments, net of tax | (66) | (19) | 3 |
| Other comprehensive income (loss) | (136) | (60) | 69 |
| Comprehensive income | 189 | 170 | 188 |
| Product and Service | |||
| Subscription | |||
| Total revenues | 6,891 | 5,573 | 4,286 |
| Total cost of revenues | 1,187 | 1,022 | 731 |
| Professional services and other | |||
| Total revenues | 354 | 323 | 233 |
| Total cost of revenues | 386 | 331 | 256 |
| [1] Includes stock-based compensation as follows: Year Ended December 31, 202220212020Cost of revenues:Subscription$157 $128 $98 Professional services and other67 59 52 Operating expenses:Sales and marketing459 389 320 Research and development495 395 282 General and administrative223 160 118 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
SERVICENOW, INC. | |||
Ticker: NOW Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Jan 31, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Net income | $ 325 | 230 | 119 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 433 | 472 | 336 |
| Amortization of deferred commissions | 358 | 294 | 218 |
| Amortization of debt discount and issuance costs | 0 | 7 | 24 |
| Stock-based compensation | 1,401 | 1,131 | 870 |
| Deferred income taxes | 15 | (34) | (24) |
| Repayments of convertible senior notes attributable to debt discount | 0 | (15) | (82) |
| Loss on extinguishment of 2022 Notes | 0 | 3 | 47 |
| Other | 17 | 45 | (2) |
| Changes in operating assets and liabilities, net of effect of business combinations: | |||
| Accounts receivable | (340) | (401) | (152) |
| Deferred commissions | (566) | (565) | (365) |
| Prepaid expenses and other assets | (39) | (93) | (55) |
| Accounts payable | 172 | 55 | (34) |
| Deferred revenue | 904 | 960 | 711 |
| Accrued expenses and other liabilities | 43 | 102 | 175 |
| Net cash provided by operating activities | 2,723 | 2,191 | 1,786 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (550) | (392) | (419) |
| Business combinations, net of cash acquired | (91) | (785) | (107) |
| Purchases of intangibles | 0 | (7) | (13) |
| Purchases of investments | (4,038) | (2,485) | (2,922) |
| Purchases of non-marketable investments | (167) | (71) | (12) |
| Sales and maturities of investments | 2,245 | 2,119 | 1,965 |
| Other | 18 | 14 | 1 |
| Net cash used in investing activities | (2,583) | (1,607) | (1,507) |
| Cash flows from financing activities: | |||
| Net proceeds from borrowings on 2030 Notes | 0 | 0 | 1,482 |
| Repayments of convertible senior notes attributable to principal | (94) | (61) | (1,628) |
| Net proceeds from unwind of 2022 Note Hedge | 0 | 0 | 1,106 |
| Proceeds from employee stock plans | 177 | 167 | 146 |
| Taxes paid related to net share settlement of equity awards | (427) | (612) | (509) |
| Net cash provided by (used in) financing activities | (344) | (506) | 597 |
| Foreign currency effect on cash, cash equivalents and restricted cash | (53) | (25) | 25 |
| Net change in cash, cash equivalents and restricted cash | (257) | 53 | 901 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,732 | 1,679 | |
| Cash, cash equivalents and restricted cash at end of period | 1,475 | 1,732 | 1,679 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Cash and cash equivalents | 1,470 | 1,728 | 1,677 |
| Restricted cash included in prepaid expenses and other current assets | 5 | 4 | 2 |
| Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | 1,475 | 1,732 | 1,679 |
| Supplemental disclosures of other cash flow information: | |||
| Interest paid | 24 | 41 | 0 |
| Income taxes paid, net of refunds | 45 | 36 | 39 |
| Non-cash investing and financing activities: | |||
| Settlement of 2022 Notes conversion feature | 233 | 225 | 275 |
| Benefit from exercise of 2022 Note Hedge | 233 | 224 | 273 |
| Property and equipment included in accounts payable, accrued expenses and other liabilities | 74 | 63 | 35 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
SERVICENOW, INC. | ||
Ticker: NOW Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Jan 31, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,470 | 1,728 |
| Short-term investments | 2,810 | 1,576 |
| Accounts receivable, net | 1,725 | 1,390 |
| Current portion of deferred commissions | 369 | 303 |
| Prepaid expenses and other current assets | 280 | 223 |
| Total current assets | 6,654 | 5,220 |
| Deferred commissions, less current portion | 742 | 623 |
| Long-term investments | 2,117 | 1,630 |
| Property and equipment, net | 1,053 | 766 |
| Operating lease right-of-use assets | 682 | 591 |
| Intangible assets, net | 232 | 287 |
| Goodwill | 824 | 777 |
| Deferred tax assets | 636 | 692 |
| Other assets | 359 | 212 |
| Total assets | 13,299 | 10,798 |
| Liabilities and Stockholders Equity | ||
| Current liabilities: | ||
| Accounts payable | 274 | 89 |
| Accrued expenses and other current liabilities | 975 | 850 |
| Current portion of deferred revenue | 4,660 | 3,836 |
| Current portion of operating lease liabilities | 96 | 82 |
| Current debt, net | 0 | 92 |
| Total current liabilities | 6,005 | 4,949 |
| Deferred revenue, less current portion | 70 | 63 |
| Operating lease liabilities, less current portion | 650 | 556 |
| Long-term debt, net | 1,486 | 1,484 |
| Other long-term liabilities | 56 | 51 |
| Total liabilities | 8,267 | 7,103 |
| 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; 202,882 and 199,608 shares issued and outstanding at December 31, 2022 and 2021, respectively | 0 | 0 |
| Additional paid-in capital | 4,796 | 3,665 |
| Accumulated other comprehensive income (loss) | (102) | 34 |
| Retained earnings (accumulated deficit) | 338 | (4) |
| Total stockholders equity | 5,032 | 3,695 |
| Total liabilities and stockholders equity | 13,299 | 10,798 |
| Common stock, shares authorized (in shares) | 600,000,000 | |
| Common stock, shares, issued (in shares) | 202,882,000 | 199,608,000 |
| External Links | |
| SERVICENOW, INC. (NOW) Fiscal Year 2022 | |
| 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 |