ServiceNow’s QQ2 2025 results underscore a durable growth trajectory supported by a high-quality, recurring subscription model and continued investment in AI-enabled automation on the Now Platform. Revenue reached $3.215 billion, up 22.38% year over year and 4.11% quarter over quarter, driven by strong demand for IT service management, IT operations, and platform-based workflow automation. Gross margins remained robust at approximately 77.5%, while operating margin expanded to about 11.1% versus the prior-year period, reflecting operating leverage despite ongoing investments in R&D and go-to-market activities. Net income of $385 million and diluted EPS of $1.84–$1.86 reflect solid profitability, supported by free cash flow of $526 million and a net cash position of roughly $-724 million in net debt terms (i.e., net cash). The company generated $716 million of operating cash flow and returned capital to shareholders with stock repurchases of $361 million, contributing to a strong liquidity position with cash and short-term investments totaling about $6.14 billion. Management commentary (where available) points to continued focus on expanding the Now Platform footprint, AI-enabled automation, and cross-sell opportunities across ITSM, ITOM, ITBM, and related business units. The near-term outlook remains favorable, though the absence of formal guidance in the provided materials requires a qualitative assessment of growth durability and margin progression, with attention to investment pace and customer concentration risks.