Business Context and Reporting Period
Company: ServiceNow, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 31, 2013
Reporting Period: Three months ended June 30, 2013 (Q2 2013)
This filing serves to announce financial results for the quarter ended June 30, 2013, via a press release furnished as Exhibit 99.1. The registrant is incorporated in Delaware with principal executive offices in San Diego, California.
Key Financial Metrics
The provided text is a cover document for the Form 8-K and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) where these figures are detailed.
Non-GAAP Measures Discussed:
- Free Cash Flow: Defined as GAAP net cash provided by operating activities reduced by purchases of property and equipment.
- Billings: Calculated as revenue plus the change in total deferred revenue.
- Other Metrics: Gross margins, operating margins, net income/loss, and basic/diluted income per share are reported on a non-GAAP basis excluding stock-based compensation and capitalized software adjustments.
Material Changes
The filing text does not provide specific data regarding material changes versus the prior comparable period. It states that the press release (Exhibit 99.1) contains the reconciliation of non-GAAP measures to GAAP financial measures, which would detail such changes.
Guidance, Outlook, and Management Commentary
Management Commentary: Management asserts that presenting non-GAAP results provides useful supplemental information to investors by facilitating the analysis of core operating results and comparisons across reporting periods. They emphasize that non-GAAP measures are not a substitute for GAAP measures.
Guidance and Risks: The text does not contain specific forward-looking guidance, risk factors, or contingencies. It notes that the information is furnished pursuant to Item 2.02 and is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated July 31, 2013) for specific revenue, earnings, and cash flow figures.
- Verify the reconciliation between GAAP and non-GAAP financial measures provided in the press release.
- Confirm the calculation methodology for "Billings" and "Free Cash Flow" as defined by the company.
- Check for any updates to stock-based compensation expense and capitalized software adjustments impacting net income.