ServiceNow A/NZ revenues swell to $481M

ServiceNow A/NZ revenues swell to $481M

Subscription services lead the revenue charge.

Credit: Dreamstime

Enterprise software and workplace management platform ServiceNow has seen revenue jump 17 per cent in Australia and New Zealand (A/NZ), to $481 million, for the financial year ending 31 December 2022. 

Revenue from subscription services was the clear winner, rising to $421 million, while professional services were relatively flat at $25 million and service fees amounted to $34 million. 

Gross profit amounted to $132 million and loss before income tax ballooned to $39 million in comparison to $28 million in 2021. Overall loss for the year amounted to $41 million compared to 2021, which sat at $30 million. 

"ServiceNow Australia and New Zealand continued its strong growth in 2022. The broader macro-economic environment has reinforced our customers decision to use ServiceNow as a strategic platform for digital business, helping provide great experiences, increase efficiency, and drive growth," ServiceNow spokespersons said.

 "ServiceNow’s renewal rates are testament to the benefits customers derive from our platform, and we’re proud to partner with organisations like NSW Health, Westpac, Officeworks, Telstra, IAG, Fonterra, and the NZ Department of Corrections, as they automate and improve operations."  

On a global scale, ServiceNow revealed rosy revenue numbers in its Q4 2022 earnings back in January as total revenues topped US$1.9 billion, which represents a 20 per cent year-on-year increase. Most of ServiceNow’s revenue came from service subscriptions, which rose to US$1.86 billion in the quarter, a 22 per cent year-on-year rise.

At the time, IDC analyst Stephen Elliot noted strong corporate management at the global level and the company’s expansion into the workplace experience market as contributing factors in the reported growth. 

Chairman and CEO Bill McDermott was bullish on the company’s global performance, saying that the market conditions that have helped grow ServiceNow’s revenues, which should remain strong in the foreseeable future.

Also in January, ServiceNow said it undertook a major partner program transformation featuring new initiatives to help drive partner expertise, differentiation and skills, along with financial incentives.

At the time, ServiceNow senior vice president of alliances and channel ecosystem Erica Volini told ARN ServiceNow was growing at a rapid and expansive pace and needed its partner ecosystem to be aligned to the outcomes and results it was seeking to achieve.

“We’re massively upping our game in terms of both financial investments as well as opportunities for our partners to differentiate themselves,” she said back in January. 

The new program features four distinct modules in which partners can choose to participate: Build, Consulting and Implementation, Resale and Service Provider.

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