NOW
NYSE · Technology · Software - Application · US
Research · Sep 10, 2026
Enterprise Software Shifts Toward AI Usage-Based Pricing
SailPoint says AI-driven ARR topped $70 million as software vendors add machine identities, queries and AI service usage to their pricing models.
Research · Sep 3, 2026
[NOW] ServiceNow Thesis 2026: Now Assist GenAI Bundle Tests Workflow Platform Premium Pricing
ServiceNow FY2025 revenue ~$13.4B (+22% YoY) with adj. operating margin expanding to 30% — sustained 22-24% revenue growth at expanding scale ($5.9B FY2021 → $13.4B FY2025) demonstrates operational discipline. Now Assist GenAI Pro Plus tier (~30% pricing premium over Pro) reached ~1,800+ Pro Plus customers with cumulative ACV ~$3B+ exiting FY2025 — fastest enterprise software product adoption ramp in ServiceNow history. RPO ~$26.5B (cRPO $11.5B at +19%) provides forward visibility. Customers $1M+ ACV: ~2,200 (up from ~1,890 FY2024). FY2026 thesis: Pro Plus continues scaling toward 25%+ customer base attaching at premium pricing → $5-7B Now Assist ARR by FY2027; international expansion ~30% of revenue +25%+; key competitive risks: Microsoft Copilot Studio bundled with M365/Dynamics, Salesforce Agentforce CRM displacement.
Research · Jun 2, 2026
PANW, CRWD and the Software AI Capex Second Wave
Six of eight software names are above their 200-day MA as PANW posts FY26 Q3 strength and CRWD prints a second-wave beat.
Research · Apr 23, 2026
NOW Q1: Subscription Revenue Guide Lifted to $15.77B With 21% Constant-Currency Growth
ServiceNow's Q1 2026 beat the high end of guidance across top-line and profitability. Full-year 2026 subscription revenue guide lifted to $15.74B-$15.78B (20.5-21% constant-currency growth). Q2 subscription revenue guided to $3.82B (21-21.5% YoY). 50% of net new business from non-seat-based hybrid pricing models. NOW Assist and Moveworks/Employee Works integration driving emerging-products outperformance.
Research · Mar 12, 2026
Which enterprise software vendors lose the most as Oracle shifts resources from apps to OCI?
Oracle's aggressive pivot to OCI, reflected in 32.7% forward revenue growth, reshapes enterprise software competition. Workday is most exposed due to direct product overlap, smallest scale, and thinnest margins (-43% stock return), while ServiceNow's platform-agnostic model and 20.9% growth make it the least disrupted.