NOW:Analyst Day - AI Revenue Guidance Surprised to the Upside

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As you may aware, we have been increasingly bullish on the upcoming AI Agent boom, and today we get a positive acknowledgement from Servicenow during its analyst day, which is probably the most advanced AI Agent company among large enterprise SaaS platforms.

Servicenow has provided limited update in financials, leading to muted reaction in share price post market. There was lots of murmurs around the potential for a cut to 2026 subscription revenue guide but company reiterated its US$15b+ target. Some were disappointed with no guide to 2027 or 2028 sub revenue. On margins, NOW reiterated 2026 targets and further guided to another 100bps expansion in non-GAAP OPM and FCF margin, inline with street's expectation.