Catalyst Calendar

ServiceNow [NOW]

ServiceNow [NOW] — Catalyst Calendar

As of 2026-07-29. Every item below is sourced to a filing or a call. No date is estimated where the company has not given one — where a date is a pattern inference it is labelled as such, per the rule that a fabricated catalyst date is worse than an absent calendar.

Dated by the company

Date	Event	Why it moves the implied path
2026-09-30	Q3 2026 quarter end. Guidance already given: subscription revenue $3,975–3,980m (+20.5%, +20% cc); cRPO +19.5% (+20% cc); non-GAAP operating margin 31%. Company also states an "approximately $35 million year-over-year headwind for Q3 2026 cRPO" from dollar strength.	cRPO guided to step down from 21.5% to 20% cc. The 12-month target rests on the stabilisation read; this is the first test of it.
2026-12-31	FY2026 year end. Guidance: subscription revenue $15,760–15,780m (+22.5%, +21% cc); non-GAAP operating margin 31.5%; FCF margin 35%; subscription gross margin 81% (non-GAAP); diluted shares 1.04bn.	The 81% subscription gross-margin guide is the AI-margin test. Management has already told you it falls in 2026 "due to… an acceleration of customer AI adoption."
2026-12-31	Target: $1.5bn of ServiceNow AI ACV by the end of 2026. Crossed $1.0bn in Q2 2026; the target was raised from $1.0bn during Q1 2026 Q&A.	The only quantified AI monetisation figure this project has on any large-software name. A miss here is the AI thesis breaking in public; a beat is the strongest evidence available that AI revenue is real.
2027-03-02	Deadline for finalising the Veza purchase-price allocation ("not later than one year from the respective acquisition dates").	A revision shifts intangibles vs goodwill and therefore the GAAP amortisation run-rate.
2027-04-20	Deadline for finalising the Armis purchase-price allocation. Currently provisional: $2,530m intangibles, $5,323m goodwill.	Same. Armis is 68% of the M&A dollars, so this is the material one.
By 2029	Published commitment to reduce stock-based compensation to below 10% of revenue (Financial Analyst Day, 2026-05-04). Currently 16.4%.	This is the single largest leg of the 23.0% terminal margin. If SBC stays at 16.4%, the terminal margin is ~16.5% and the Valuation Criteria fails harder. Trackable every quarter.
By 2030	Long-term targets set at Financial Analyst Day, 2026-05-04: >$30bn subscription revenue, 30% of ACV from AI, Rule of 60+. McDermott, Q2 2026: "we set a course to $32 billion in revenue in 2030." Currently Rule of 56.	$15.77bn (FY2026) → $30bn+ (2030) is a ~17.5% four-year CAGR — materially below the 35.7% the current price requires. The company's own long-term target does not support today's price.

Recurring, dated by pattern (labelled — not company-confirmed)

Approximate date	Event	Basis for the estimate
~2026-10-21	Q3 2026 earnings	8-K earnings releases: 2026-07-22 (Q2), 2026-04-22 (Q1), 2026-01-28 (FY2025). Consistently the fourth Wednesday. Not yet announced by the company.
~2027-01-27	FY2026 results and 10-K	Same pattern; FY2025 10-K filed 2026-01-29. Not announced.
~May 2027	Knowledge 2027 user conference and Financial Analyst Day	Knowledge 2026 was in May 2026; FAD was 2026-05-04. Not announced. Every AI product generation to date — Now Assist, AI Control Tower, Otto — was launched at Knowledge.

Product-cycle items already shipped (no future date; monitoring only)

From the Q2 2026 earnings release, 2026-07-22:

ServiceNow Otto — GA. Unified AI experience combining Now Assist, Moveworks and AI Experience. This is why "Now Assist" fell to zero mentions.
Autonomous Workforce AI specialists — launched for IT, customer relationship management, employee services, and security and risk. The CRM specialist is the direct Salesforce overlap.
Level 1 support AI specialist — CPO Amit Zavery, Q2 Q&A: "40-plus customers are using it already… We're closing about 80% to 85% of service requests without any human interaction."
AI Control Tower expanded; Context Engine and Autonomous Data Analytics launched (the analytics adjacency); Build Agent GA in ServiceNow Studio, extended across Cursor, Windsurf, Claude Code and GitHub Copilot; Action Fabric launched with Anthropic as first design partner.
NVIDIA — Project Arc autonomous desktop agent; AI Control Tower integrated into the NVIDIA Enterprise AI Factory Validated Design. Microsoft — AI Control Tower governance across Microsoft Agent 365; AI specialists in the Microsoft marketplace. AWS — surpassed $1bn in AWS Marketplace transactions.

Deliberately absent

No NRR date. The CFO declined to provide net revenue retention on a quarterly basis (Q1 2026 Q&A: "We don't give NRR on a quarterly basis"). There is no scheduled disclosure of it and I will not invent one.
No date for an inorganic-contribution disclosure. The company has declined to quantify acquisition revenue and has given no indication it will start.
No analyst-day date for 2027. Not announced.

Generated from each name's analysis.json. Figures are research output, not investment advice. Gaps are shown as “—” rather than filled: a missing input is recorded as indeterminate, never estimated.