ServiceNow, Inc. (NYSE:NOW) Q1 2017 Earnings Conference Call - Final Transcript

Apr 26, 2017 • 05:00 pm ET

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ServiceNow, Inc. (NYSE:NOW) Q1 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the ServiceNow Q1 2017 Earnings Conference Call. At this time, all participants are in a listen-only mode. Following managements prepared remarks, we will host the question-and-answer session and our instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes.

It is now my pleasure to hand the conference over to Mr. Michael Scarpelli, Chief Financial Officer. Sir, you may begin.

Executive
Michael P. Scarpelli

Good afternoon, and thank you for joining us. On the call with me today is John Donahoe, our President and Chief Executive Officer. Our press release, investor presentation and broadcast of this call can be accessed at investors.servicenow.com. We may make forward-looking statements on this conference call such as those using the words may, expects, believes or similar phrases to convey that information is not historical fact. These statements are subject to risks, uncertainties and assumptions. Please refer to the press release and risk factors and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for information on uncertainties that may cause actual results to differ materially from those set forth in such forward-looking statements.

I would now like to turn the call over to John.

Executive
John J. Donahoe

Thanks, Mike. Good afternoon everyone, and thank you for joining us on today's call.

Before diving into our Q1 highlights, I want to take a moment to acknowledge Frank Slootman's leadership at ServiceNow. When Frank became CEO six years ago, ServiceNow had 375 employees and only $93 million in revenue. One year later, in June of 2012, Frank led the company through an IPO. Since that time, ServiceNow has been the best performing stock of all software IPOs. Today, ServiceNow employs over 5,000 people, generates revenue of $1.4 billion and has a market cap of approximately $15 billion, representing incredible growth and value creation during Frank's tenure. Along the way, he built outstanding relationships with our employees, our customers, partners and investors. And I'm inheriting a well-managed, well-positioned organization. Frank has been extremely helpful during this transition, and I look forward to continuing to work with him as our Chairman of the Board.

I could not be more excited about leading ServiceNow into our next phase of growth. When I stepped down as CEO of eBay, I had the opportunity to survey the technology landscape. And it became clear to me that cloud businesses are disrupting both consumer and enterprise experiences for the better. I witnessed this firsthand in the consumer space where cloud-based applications like eBay and PayPal are transforming how consumers behave. But we're still in the early innings of enterprise transformation and a lot of opportunity remains.

I first met ServiceNow while I was at eBay as a happy and satisfied customer. And the more I explored this opportunity, the more I fell in love with this company. I believe ServiceNow has the potential to become one of the great enterprise software companies of this era, and