ServiceNow, Inc. (NOW) Announced Q1 2026 Earnings on April 22, 2026, Reporting Q1 subscription revenues were $3.671 billion.

During the Q1 2026 earnings call, Chief Financial Officer Gina Mastantuono reported that Q1 subscription revenues were $3.671 billion.

She noted that RPO ended the quarter at approximately $27.7 billion and current RPO was $12.64 billion.

Mastantuono also stated that the non-GAAP operating margin was 32% and the free cash flow margin was 44% for the quarter.

Chief Executive Officer Bill McDermott highlighted that subscription revenue grew 19% in constant currency.

Management emphasized their strategic focus on the AI control tower for business reinvention. McDermott discussed the integration of recent acquisitions, noting that Moveworks closed 7-figure deals in Q1 and has rebranded as employee works. He also highlighted the recent acquisition of Armis, which solves visibility, real-time agentless discovery of every asset, and Veza, which solves the identity governance.

Furthermore, McDermott stated that 50% of net new business now comes from a non-seat-based pricing model.

Providing forward guidance for the full year 2026, Mastantuono stated they are raising our subscription revenues by $205 million at the midpoint to $15.735 billion to $15.775 billion.

For the full year, they expect a subscription gross margin of 81.5%, an operating margin of 31.5%, and a free cash flow margin of 35%.

For Q2 2026, the company expects subscription revenues between $3.815 billion and $3.820 billion and an operating margin of 26.5%.

Regarding product and partnership announcements, McDermott stated that the entire ServiceNow portfolio is AI native and announced that ServiceNow launched autonomous workforce. He also highlighted that OpenAI native voice and text models are integrated directly into the ServiceNow AI platform and mentioned that ServiceNow and Cohesity announced a partnership to deliver agent resilience.

Additionally, he noted that ServiceNow and Carisoft expanded our partnership to extend ServiceNow AI platform availability.