ServiceNow launched DROPS app for unsheltered individuals, AI capabilities expanding; revenue growth expected

From Nasdaq: 2024-06-27 11:05:00

ServiceNow, in collaboration with the City of Reno and NewRocket, launched the DROPS app to assist unsheltered individuals. The app features profile collection, encounter tracking, case management, and AI-powered analytics for targeted support in Reno. ServiceNow’s focus on social impact drives this outreach technology initiative.

ServiceNow’s expanding portfolio includes new AI-powered capabilities to enhance employee experiences and talent development. The company ended Q1 2024 with 1933 customers with over $1 million in ACV. Collaborations with Microsoft, NVIDIA, IBM, and Equinix are boosting ServiceNow’s AI capabilities and expanding its client base.

Despite facing challenges from inflation and macroeconomic conditions, ServiceNow’s revenue grew by 24.2% year-over-year in Q1 2024. The company’s AI advancements and strong partner base are expected to drive continued customer growth and revenue increase. Analysts project second-quarter revenue growth of 21.22% year-over-year for ServiceNow.



Read more at Nasdaq: ServiceNow (NOW) Boosts Portfolio With DROPS Mobile App Launch