Bill Mcdermott on Q1 2021 financial results
From NOW Stock | ServiceNow Inc Q1 2021 Earnings Call · · AlphaStreet
“We started 2021 with another outstanding quarter delivering a perfect balance of growth and profitability. Our team is executing maintaining the swift pace towards our path to 10 billion in revenue and beyond. In Q1 we grew subscription revenue 30 year over year. We delivered strong profitability with operating margin over 27 and we increased free cash flow margin seven points year over year to 46.”
On , Bill Mcdermott, CEO of ServiceNow at ServiceNow, spoke about Q1 2021 financial results during NOW Stock | ServiceNow Inc Q1 2021 Earnings Call on AlphaStreet.
About Bill Mcdermott
Bill McDermott, chairman and CEO of ServiceNow, opened the company’s Knowledge 2026 conference in Las Vegas on May 5, 2026, where he announced a “total satisfaction guarantee” offering the company’s AI Control Tower free for one year, which he described as a $2 million value. He stated that ServiceNow is “the AI control tower for business reinvention” and said the company is targeting a total addressable market of $600 billion. During the keynote, McDermott said the company is moving from “intelligence to execution” and urged attendees to “build something the world doesn’t know it needs.” On the company’s Q1 2026 earnings call on April 22, McDermott reported subscription revenue growth of 19% in constant currency and a CRPO growth of 21%, both above guidance. He said the company had increased its AI net new annual contract value target for 2026 from $1 billion to $1.5 billion, adding that he believed the company might “run through that.” In subsequent media interviews, McDermott described ServiceNow as “a growth company” and “the fastest growing enterprise software company at scale the world has ever known,” and said the company plans to double its revenue to $32 billion in the next few years. He attributed a 17% drop in the company’s stock following the earnings report to broader market uncertainty about enterprise software valuations, and called the decline “the best entry point that I could ever imagine for this stock.”