ServiceNow, Inc. (NOW) 2022 Q1 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to the ServiceNow First Quarter 2022 Earnings Call. (Operator Instructions) Thank you. Darren Yip, Vice President of Investor Relations, you may begin your conference.

各位女士、先生，感謝您稍候，歡迎參加 ServiceNow 2022 年第一季財報電話會議。（接線員指示）謝謝。投資人關係副總裁 Darren Yip，您可以開始會議。

Good afternoon, and thank you for joining ServiceNow's First Quarter 2022 Earnings Call. Joining me are Bill McDermott, our President and Chief Executive Officer; and Gina Mastantuono, our Chief Financial Officer.

各位下午好，感謝您參加 ServiceNow 2022 年第一季財報電話會議。與我一同出席的有：我們的總裁暨執行長 Bill McDermott，以及我們的財務長 Gina Mastantuono。

During today's call, we will review our first quarter 2022 results and discuss our guidance for the second quarter and full year 2022. Before we get started, we want to emphasize that some of the information discussed on this call, such as our guidance, is based on information as of today and contains forward-looking statements that involve risks, uncertainties and assumptions. We undertake no duty or obligation to update such statements as a result of new information or future events.

在今天的電話會議中，我們將回顧 2022 年第一季的業績，並討論我們對 2022 年第二季及全年之指引。在開始之前，我們要強調，本次電話會議中討論的部分資訊（例如我們的指引）係基於截至今日所掌握的資訊，並包含前瞻性陳述，涉及風險、不確定性與假設。因新資訊或未來事件而更新此等陳述，我們不承擔任何責任或義務。

Please refer to today's earnings press release and our SEC filings, including our most recent 10-Q and 2021 10-K, for factors that may cause actual results to differ materially from forward-looking statements. We'd also like to point out that we present non-GAAP measures in addition to and not as a substitute for, financial measures calculated in accordance with GAAP. Unless otherwise noted, all financial measures and related growth rates we discuss today are non-GAAP, except for revenues, remaining performance obligations, or RPO, current RPO and cash and investments. To see the reconciliation between these non-GAAP and GAAP measures, please refer to today's earnings press release and investor presentation, both posted on our website at investors.servicenow.com. A replay of today's call will also be posted on our website.

請參閱今日的財報新聞稿以及我們向 SEC 提交的文件（包括最新的 10-Q 與 2021 年 10-K），以了解可能導致實際結果與前瞻性陳述存在重大差異的因素。我們也要指出，除依 GAAP 計算之財務衡量指標外，我們亦提供非 GAAP 指標，且非用以取代 GAAP 指標。除非另有說明，我們今天討論的所有財務衡量指標及其相關成長率皆為非 GAAP，惟營收、剩餘履約義務（RPO）、當期 RPO，以及現金與投資除外。欲查看非 GAAP 與 GAAP 指標之間的調節，請參閱今日的財報新聞稿與投資人簡報，兩者皆已發布於我們的網站 investors.servicenow.com。今日電話會議的重播也將發布於我們的網站。

With that, I'll turn the call over to Bill.

接下來，我把電話交給 Bill。

Thank you very much, Darren, and good afternoon, everyone. We really appreciate you joining our call today. We're pleased to once again report results that firmly beat expectations.

非常感謝你，Darren，各位下午好。非常感謝大家今天參加我們的電話會議。我們很高興再次報告明顯優於市場預期的業績。

In January, we reported a stellar 2021. Today, we're following that up with a very strong Q1. The constant currency numbers speak for themselves. Subscription revenue growth was 29%, cRPO growth was 30.5%, operating margin surpassed 25%, and all were above the high end of our guidance range. In fact, our raised guidance today, which Gina will cover shortly, also speaks for itself, as does the 52 deals over $1 million in Q1 that were up 41% year-over-year. It's clear that the world is beginning to understand the power of this platform.

1 月我們公布了亮眼的 2021 年成績。今天，我們再以非常強勁的第一季延續這股動能。以固定匯率計算的數字不言自明：訂閱營收成長 29%、cRPO 成長 30.5%、營業利益率超過 25%，且全部高於我們指引區間的上緣。事實上，我們今天上調的指引（Gina 稍後會說明）同樣說明了一切；第一季超過 100 萬美元的交易達 52 筆，年增 41%，也同樣如此。很明顯，世界正開始理解這個平台的力量。

We said in January that our fast growth would accelerate in Q1, it did. Now 3 months later, we expect subscription revenue growth to accelerate for the full year. It will. We said that ServiceNow's fast growth would continue to be paired with the leverage of a global market leader. Now with our accelerating revenue growth and free cash flow, we're already approaching the rule of 60 for the full year.

我們在 1 月表示，我們的高速成長會在第一季加速——確實如此。現在 3 個月後，我們預期全年訂閱營收成長將加速——也將如此。我們也說過，ServiceNow 的高速成長將持續搭配全球市場領導者的規模槓桿。如今，隨著營收成長與自由現金流加速，我們全年已接近「60 法則」。

We have strong adoption from existing and net new customers. Our rolling 4-quarter pipeline remains ever strong. We're delivering predictable fast growth with exceptional free cash flow. Overall, we're super excited about the state of this business. We believe it sets us up really well for the remainder of 2022 and beyond.

我們在既有客戶與新增客戶方面皆有強勁採用。我們滾動四季的銷售管線依然非常強勁。我們以卓越的自由現金流，交付可預期的高速成長。整體而言，我們對這項業務的現況感到非常振奮。我們相信，這讓我們在 2022 年剩餘期間及更長遠的未來都具備非常好的布局。

I do want to offer a few comments on what we're seeing in the broader marketplace. We've talked about a sustained demand environment for the enterprise. While there are significant challenges in the world, particularly in the Eastern European situation, we have not seen a material impact on our market. To the contrary, the challenges have underscored the urgency of investment in digital business.

我也想就我們在更廣泛市場中看到的情況提出幾點看法。我們一直談到企業端需求環境的持續性。儘管世界面臨重大挑戰，特別是東歐局勢，我們尚未看到對我們市場造成實質影響。相反地，這些挑戰更凸顯投資數位化業務的迫切性。

IDC continues to see a 23% year-over-year increase in the global public cloud market for 2022. We see similar indications of demand durability, which are consistent with or above the 10-year pre-COVID average. Leaders who do plan to adjust their technology budgets plan to increase investments in 2022. One leader put it well. He said, "Bill, if we slow investment in the short term, we'll lose ground in the midterm, and we won't be in business for the long term." And the data tells the same story. The average tenure of the company in the S&P 500 has declined from 30 years in 1996 to 19 years in 2021.

IDC 仍預期 2022 年全球公有雲市場將年增 23%。我們也看到類似的需求韌性跡象，與 COVID 之前 10 年平均水準一致或更高。即便有領導者計畫調整其科技預算，他們也計畫在 2022 年增加投資。有位領導者說得很好。他說：「Bill，如果我們短期放慢投資，我們中期就會落後，長期甚至無法生存。」數據也說明同樣的故事：S&P 500 企業的平均存續年限已從 1996 年的 30 年下降至 2021 年的 19 年。

So it's very clear that business can no longer revert to a status quo posture, no matter the environment. We're now in a tech to compete world. If you look to our new customer acquisition, here is what resonates, businesses are shifting investments in technologies that gets them to the right outcomes faster. Cloud-native platforms like ServiceNow are seen as an elixir to speed up new revenue streams and better experiences for people.

因此非常清楚，無論環境如何，企業都不可能再回到維持現狀的姿態。我們已進入「以科技競爭」的世界。從我們的新客戶取得來看，真正引起共鳴的是：企業正把投資轉向能更快達成正確成果的技術。像 ServiceNow 這樣的雲原生平台，被視為加速新營收來源並為人們帶來更佳體驗的靈丹妙藥。

When we see increased focus on topics like supply chain, risk, security, ESG, all of these convert to perceive -- what was perceived headwinds into much stronger secular tailwinds for ServiceNow. So the world's biggest problems are really ServiceNow's biggest opportunities. And it all adds up to what we said consistently, the technology architecture is now the business architecture. This is the era for digital business.

當我們看到供應鏈、風險、安全、ESG 等議題受到更多關注時，這些都把原本被視為逆風的因素，轉化為對 ServiceNow 更強勁的長期結構性順風。因此，世界最大的問題，正是 ServiceNow 最大的機會。這也印證了我們一貫所說：科技架構如今就是商業架構。這是數位化業務的時代。

Our businesses are firing on all cylinders in this environment. Behind great experiences are great workflows, which underscores the unique extensibility of the ServiceNow platform. So here it is. Our core technology workflows business performed well in Q1. ITSM was in 11 of our top 20 deals, with continued strong adoption of ITSM Pro. We continue to see strong attach rates from ITOM in 13 of our top 20 deals. Security and Risk had a great quarter with a combined 13 deals in the top 20. Global biotech innovator, Regeneron, works with ServiceNow to increase productivity while decreasing costs. Global financial leader, RBC, works with ServiceNow for cloud and asset tracking. I'd also like to thank RBC for administering the ServiceNow Racial Equity Fund.

在這樣的環境下，我們的各項業務全面發力。卓越體驗的背後是卓越的工作流程，這也凸顯 ServiceNow 平台獨特的可延展性。具體而言，我們的核心科技工作流程業務在第一季表現良好。ITSM 出現在我們前 20 大交易中的 11 筆，ITSM Pro 也持續強勁採用。我們也持續看到 ITOM 在前 20 大交易中的 13 筆具有強勁的附加採用率。安全與風險在本季表現出色，合計在前 20 大交易中有 13 筆。全球生技創新者 Regeneron 與 ServiceNow 合作，在降低成本的同時提升生產力。全球金融領導者 RBC 與 ServiceNow 合作進行雲端與資產追蹤。我也要感謝 RBC 管理 ServiceNow 種族平權基金。

The only way for companies to transform the customer experience is to fully integrate their employee experience. Customer workflows continue to see strong demand, particularly with our vertical SKUs. Barclays works with ServiceNow to automate cross-agency case management and compliance with EU data privacy requirements. In this post-pandemic economy, many businesses are creating direct-to-consumer business models. Companies like Telefônica Brasil work with ServiceNow to better serve their next-generation customers.

企業要轉型客戶體驗，唯一的方法就是全面整合員工體驗。客戶工作流程持續展現強勁需求，尤其是在我們的垂直產業 SKU 方面。Barclays 與 ServiceNow 合作，自動化跨機構案件管理，並符合歐盟資料隱私要求。在後疫情經濟中，許多企業正在建立直接面向消費者（DTC）的商業模式。像 Telefônica Brasil 這樣的公司與 ServiceNow 合作，以更好地服務其下一代客戶。

Employee workflows were also strong in the quarter. HR was in 14 of the top 20 deals. Global health care solutions company, AmerisourceBergen, works with ServiceNow to transform their employee experience. In the digital business era, differentiation can't be bought, it must be built. IDC now forecasted 750 million net new applications will be created between 2023 and 2025. With the unprecedented demand for net new innovation together with a global shortage of professional developers, low-code application development is a massive market opportunity. While tech leaders see the value of citizen developers, they don't want to sacrifice the enterprise-grade governance and security. This is what gives ServiceNow a unique differentiation in the low-code market.

員工工作流程在本季同樣強勁。人資（HR）出現在前 20 大交易中的 14 筆。全球醫療保健解決方案公司 AmerisourceBergen 與 ServiceNow 合作，轉型其員工體驗。在數位化業務時代，差異化無法用買的，必須靠打造。IDC 目前預測 2023 至 2025 年間將新增 7.5 億個淨新增應用程式。面對前所未有的淨新增創新需求，以及全球專業開發者短缺，低程式碼應用開發是一個巨大的市場機會。儘管科技領導者看見公民開發者的價值，他們不希望犧牲企業級治理與安全性。這正是 ServiceNow 在低程式碼市場具備獨特差異化的原因。

Look at Dai-ichi Life Insurance, one of the world's largest insurance companies, which is standardized on app engine for all low-code application development. With creative workflows in 16 of the top 20 Q1 deals, we see this trend accelerate. A leading manufacturer of print inks, DIC, works with ServiceNow as their new citizen developer platform, one of many such examples.

看看第一生命保險（Dai-ichi Life Insurance），這是全球最大的保險公司之一，已在所有低程式碼應用開發上標準化採用 App Engine。第一季前 20 大交易中有 16 筆包含創意工作流程（Creator Workflows），我們看到這股趨勢正在加速。印刷油墨領先製造商 DIC 以 ServiceNow 作為其新的公民開發者平台，這只是眾多案例之一。

Here's the key takeaway, businesses are no longer in the mood to experiment. They go with what they know works, which is why the world works with ServiceNow. We are the only one with a fully integrated platform architecture that can address every C-suite business challenge because enterprises are so focused now on fast time to value. Our new customer success subscription offering, ServiceNow Impact, also saw a strong demand in Q1. And as ever, the ServiceNow platform is the foundation for our ongoing success.

以下是關鍵重點：企業已不再有心情做實驗。他們會選擇自己知道有效的方案，這也是為什麼全世界都與 ServiceNow 合作。我們是唯一擁有完全整合的平台架構、能夠因應每一項 C-suite 商業挑戰的公司，因為企業現在高度聚焦於快速實現價值。我們新的客戶成功訂閱方案 ServiceNow Impact 在第一季也看到強勁需求。而一如既往，ServiceNow 平台是我們持續成功的基礎。

We're encouraged by the extremely favorable reception from our San Diego platform release. In particular, users love the next experience, which streamlines navigation, make search intelligent and simplifies personalization all on our platform. We also unveiled a new automation engine, which makes it simple for users to do robotic process automation on the ServiceNow platform. Only ServiceNow can help businesses unify their approach to hyper automation.

我們對聖地牙哥平台版本發布所獲得的極為正面的市場反應感到振奮。尤其是，使用者喜愛全新的體驗，它在我們的平台上簡化導覽、讓搜尋更智慧，並簡化個人化設定。我們也發表了新的自動化引擎，讓使用者能在 ServiceNow 平台上輕鬆進行機器人流程自動化（RPA）。唯有 ServiceNow 能協助企業統一其超自動化（hyper automation）的方法。

We now orchestrate AI, RPA and other key technologies on a single local platform. Fred Luddy founded our company in San Diego. So this release was an especially proud moment for all of us. I'd like to personally salute our product and engineering teams for their transformational work they delivered in our San Diego release. Congratulations, team. Outstanding job.

我們現在在單一的本地平台上協調 AI、RPA 與其他關鍵技術。Fred Luddy 在聖地牙哥創立了我們公司，因此這次發布對我們所有人而言是特別自豪的時刻。我想親自向我們的產品與工程團隊致敬，感謝他們在聖地牙哥版本發布中交付的變革性成果。恭喜各位，團隊。表現傑出。

Looking forward, we see many positive developments that affirm our confidence in this business. Investment from our partner ecosystem continues to accelerate nicely. Thierry Delaporte, CEO of Wipro, said the following, "Bill, we couldn't be more excited about the potential of ServiceNow. You bring a whole new dimension to customer success and technology innovation. We are all in." This outstanding partnership with Wipro is only just getting started.

展望未來，我們看到許多正向發展，進一步印證我們對這項業務的信心。來自合作夥伴生態系的投資持續加速成長。Wipro 執行長 Thierry Delaporte 表示：「Bill，我們對 ServiceNow 的潛力感到無比興奮。你為客戶成功與技術創新帶來全新維度。我們全力投入。」與 Wipro 的這項卓越合作才正要開始。

We also have our signature event series, Knowledge '22, taking place in May. Each of 4 locations will demonstrate the high enthusiasm of the growing ServiceNow community. We will have showcases in the Hague, New York City, Sydney and Las Vegas, in addition to a fully digital experience. So please join us.

我們也將於 5 月舉辦招牌活動系列 Knowledge '22。四個地點中的每一站都將展現日益成長的 ServiceNow 社群所具備的高度熱情。除了完整的數位體驗外，我們也將在海牙、紐約市、雪梨與拉斯維加斯舉辦展示活動。誠摯邀請您加入我們。

So in closing, we had a great Q1. Everything is lined up for us to follow suit in Q2 and for the full year. We're taking steps forward every day to our stated milestone, $10 billion-plus by 2024, $15 billion-plus by 2026 and beyond. It's worth reiterating at this time that we remain on track to be the fastest ever to hit those thresholds.

總結來說，我們第一季表現非常出色。所有條件都已就緒，讓我們在第二季以及全年延續同樣的表現。我們每天都在朝既定里程碑邁進：2024 年達到 100 億美元以上、2026 年達到 150 億美元以上，並持續向前。此刻值得再次強調的是，我們仍按計畫成為史上最快達到這些門檻的公司。

Finally, beyond the business results, I'd like to offer the heartfelt support of our more than 18,000 ServiceNow colleagues worldwide to those confronting humanitarian crisis, especially in Ukraine. Like so many of our customers and peers, ServiceNow is pursuing numerous opportunities to support relief efforts. By continuing to do well, we confer to commit our company to doing good. This is firmly aligned to our purpose of making the world work better for everyone. Herein lies our path to be the defining enterprise software company of the 21st century. Ladies and gentlemen, we are a company on the move.

最後，除了業務成果之外，我也想代表全球超過 18,000 位 ServiceNow 同仁，向正面臨人道危機的人們致上由衷的支持，特別是烏克蘭。與眾多客戶與同業一樣，ServiceNow 正在尋求多項機會以支持救援工作。透過持續把業務做好，我們也更能承諾讓公司行善。這與我們「讓世界為每個人運作得更好」的宗旨完全一致。這正是我們成為 21 世紀定義性企業軟體公司的道路。各位女士、先生，我們是一家正在前進的公司。

I'd like to thank you again for your time and your trust in ServiceNow. We're looking forward to addressing any questions you may have. And I'll now hand it over to our great CFO, Gina Mastantuono. Gina?

再次感謝各位撥冗參與，以及對 ServiceNow 的信任。我們期待回答各位可能提出的任何問題。接下來我把時間交給我們優秀的財務長 Gina Mastantuono。Gina？

Thank you, Bill. Q1 was yet another fantastic quarter of execution. Enterprises are navigating a macro environment filled with a myriad of challenges. Our ability to continue delivering strong results exemplifies the resiliency of our business and the mission-critical nature of the Now Platform. The breadth of our product offering and our geographic reach provide us a diverse array of opportunities for growth.

謝謝你，Bill。第一季再次是執行力極佳的一季。企業正處於充滿各式挑戰的總體環境中前行。我們持續交出強勁成果的能力，彰顯了我們業務的韌性，以及 Now Platform 的關鍵任務性質。我們產品組合的廣度與全球布局，為我們提供多元的成長機會。

Although FX headwinds grew throughout the quarter, ServiceNow outperformed across all of our Q1 guidance metrics. In fact, net new ACV growth accelerated year-over-year, driving the fastest Q1 growth we've seen since 2018. We expect that momentum will carry into Q2 with net new ACV growth consistent with our very strong second quarter last year. As a result, we're raising the midpoint of 2022 subscription revenue guidance to more than offset these incremental FX headwinds.

儘管外匯逆風在本季逐步加劇，ServiceNow 仍在第一季所有指引衡量指標上表現超越。事實上，淨新增 ACV 成長率年增加速，帶動我們自 2018 年以來最快的第一季成長。我們預期這股動能將延續至第二季，淨新增 ACV 成長將與去年非常強勁的第二季一致。因此，我們上調 2022 年訂閱營收指引的中位數，以足以抵銷這些新增的外匯逆風。

Turning to Q1 results. Subscription revenues were $1.631 billion, growing 29% year-over-year in constant currency, exceeding the high end of our guidance range by $16 million. This reflects a 300-basis point acceleration in growth year-over-year. RPO ended the quarter at approximately $11.5 billion, representing 31.5% year-over-year constant currency growth. Current RPO was approximately $5.69 billion, representing 30.5% year-over-year constant currency growth, a 1-point beat versus our guidance.

接著看第一季結果。訂閱營收為 16.31 億美元，以固定匯率計年增 29%，較我們指引區間上緣高出 1,600 萬美元。這反映出年增成長加速 300 個基點。RPO 於季末約為 115 億美元，以固定匯率計年增 31.5%。當期 RPO（Current RPO）約為 56.9 億美元，以固定匯率計年增 30.5%，較我們指引高出 1 個百分點。

From an industry perspective, we saw broad-based strength with energy and utilities, financial services, government, health care, life sciences, TMT, and transportation and logistics all growing net new ACV 40% or more year-over-year. Our renewal rate was best-in-class at 98% in Q1 as the Now Platform remains a core component of our customers' digital transformation efforts. The stickiness of our customer base has served as a solid foundation for us to build upon as our largest customers continue to expand.

從產業面來看，我們看到廣泛的強勁表現：能源與公用事業、金融服務、政府、醫療保健、生命科學、TMT（科技、媒體與電信）、以及運輸與物流等產業的淨新增 ACV 皆年增 40% 或以上。我們第一季續約率達到同業最佳的 98%，因為 Now Platform 仍是客戶數位轉型工作中的核心組成。客戶基礎的高黏著度，為我們提供穩固根基，讓最大客戶持續擴張之際，我們得以在此基礎上再建構成長。

We finished the quarter with more than 1,400 customers paying us over $1 million in ACV. We closed 52 deals greater than $1 million in net new ACV in Q1, up 41% year-over-year. This includes 7 net new logo deals in the quarter, further demonstrating our success with initiatives to land quality customers. Our portfolio outside of ITSM is also leading more of our largest customer land. 9 out of our top 10 new customer deals were led by non-ITSM products.

本季結束時，年約合約價值（ACV）超過 100 萬美元的付費客戶已超過 1,400 家。我們在第一季完成 52 筆淨新增 ACV 超過 100 萬美元的交易，年增 41%。其中包含本季 7 筆全新標誌（net new logo）交易，進一步展現我們在取得優質客戶方面的成功。我們在 ITSM 以外的產品組合，也正帶動更多最大客戶的導入。前 10 大新客戶交易中，有 9 筆由非 ITSM 產品主導。

Turning to profitability. Operating margins surpassed 25%, driven by our revenue beat and certain spend that shifted into Q2. Our free cash flow margin was 45%. We ended the quarter with a healthy balance sheet, including $5.5 billion in cash and investments, putting us in excellent shape to continue investing in strategic initiatives that drive growth. Together, these results demonstrate our ability to drive a balance of growth and profitability. And perhaps even more relevant this year is also showcases the resiliency and predictability of our business model. While a diversity of markets and customers provide stability in our results, the diversity of our employee base continues to make us even stronger.

接著談獲利能力。營業利益率超過 25%，主要受惠於營收超預期，以及部分支出時點遞延至第二季。我們的自由現金流利益率為 45%。本季結束時，我們的資產負債表維持健康，包括 55 億美元的現金與投資，使我們具備極佳條件持續投資於推動成長的策略性計畫。綜合而言，這些成果展現我們在成長與獲利之間取得平衡的能力。而在今年更為重要的是，也凸顯我們商業模式的韌性與可預測性。多元的市場與客戶帶來業績穩定性，而員工組成的多元性也持續讓我們更強大。

Last week, we released our second annual Global Impact Report. Just as the ServiceNow platform helps us fully integrate customer, employee and technology experiences across our business, we'll continue to use the ServiceNow ESG management and reporting solutions to manage, govern and report our progress. While we're early in our ESG journey, we're extremely proud of our accomplishments in such a short time. We've made significant improvements in representation and hiring. We've tied executive compensation to both environmental and diversity goals. We fully distributed ServiceNow's $100 million Racial Equity Fund, and we've continued to achieve systemic pay equities. I'm happy with the progress we've made in 2021, but we're just getting started.

上週，我們發布了第二份年度《全球影響力報告》。正如 ServiceNow 平台協助我們在業務中全面整合客戶、員工與技術體驗，我們也將持續使用 ServiceNow 的 ESG 管理與報告解決方案來管理、治理並揭露我們的進展。雖然我們的 ESG 旅程仍在早期階段，但我們對在短時間內取得的成果感到非常自豪。我們在代表性與招募方面已有顯著改善。我們也將高階主管薪酬與環境及多元目標連結。我們已全數投入並分配 ServiceNow 的 1 億美元「種族平權基金」，並持續達成系統性的薪酬公平。我對 2021 年的進展感到滿意，但我們才正要開始。

Moving on to guidance. As the conflict in Ukraine intensified throughout Q1, we've continued to see an incremental strengthening of the U.S. dollar, resulting in further FX headwinds in 2022. However, on a constant currency basis, the underlying health of our business has remained ever strong. With that in mind, let's turn to our 2022 outlook.

接著談指引。隨著烏克蘭衝突在第一季期間加劇，我們持續看到美元進一步走強，導致 2022 年面臨更多外匯逆風。然而，以固定匯率計，我們業務的基本面健康狀況依然非常強勁。基於此，讓我們來看 2022 年展望。

We are raising the midpoint of our subscription revenue outlook by $23 million to more than offset the incremental $20 million headwind we're seeing from FX, resulting in a net increase of $3 million. Our new range of $7.025 billion to $7.04 billion represents 26% year-over-year growth. That's 28.5% growth on a constant currency basis, a 50-basis point raise versus our previous outlook. This reflects our updated expectation for constant currency growth to now accelerate year-over-year. We continue to expect subscription gross margins of 86%, up 100 basis points year-over-year, operating margin of 25% and free cash flow margin of 31%.

我們將訂閱營收展望的中位數上調 2,300 萬美元，以足以抵銷我們所看到的額外 2,000 萬美元外匯逆風，淨增加 300 萬美元。我們新的區間為 70.25 億至 70.4 億美元，代表年增 26%。以固定匯率計，成長為 28.5%，較先前展望上調 50 個基點。這反映我們更新後的預期：固定匯率成長率現在將呈現年增加速。我們仍預期訂閱毛利率為 86%，年增 100 個基點；營業利益率為 25%；自由現金流利益率為 31%。

Finally, we expect diluted weighted average outstanding shares of 204 million. For Q2, we expect subscription revenues between $1.67 billion and $1.675 billion representing 26% year-over-year growth, which is inclusive of a 3-point FX headwind. On a constant currency basis, we expect subscription revenue growth to be 29%, a 250-basis point acceleration from Q2 2021. We expect cRPO growth of 25% year-over-year or 28% on a constant currency basis.

最後，我們預期稀釋後加權平均流通在外股數為 2.04 億股。針對第二季，我們預期訂閱營收介於 16.7 億至 16.75 億美元，代表年增 26%，其中包含 3 個百分點的外匯逆風。以固定匯率計，我們預期訂閱營收成長為 29%，較 2021 年第二季加速 250 個基點。我們預期 cRPO 年增 25%，或以固定匯率計年增 28%。

I'd note that for full year 2022, we have a larger-than-average customer cohort that renews in Q4. We will see between 1 and 2 points of increasing headwinds to Q2 and Q3 cRPO growth as those contractual obligations wind down. When the cohort renews, though, in Q4, those headwinds will subside, and we expect cRPO growth to reaccelerate quarter-over-quarter. We expect an operating margin of 22%, which reflects the timing of marketing spend that shifted from Q1 into Q2 and some incremental FX. We expect 203 million diluted weighted outstanding shares for the quarter.

我想指出的是，對於 2022 全年而言，我們有一個高於平均規模的客戶群會在第四季續約。隨著這些合約義務逐步到期，我們將在第二季與第三季的 cRPO 成長上看到約 1 到 2 個百分點的逆風增加。不過，當該客戶群在第四季續約時，這些逆風將會消退，我們預期 cRPO 成長將在季度對季度的基礎上重新加速。我們預期營業利益率為 22%，這反映了行銷支出時點從第一季移轉到第二季，以及一些額外的匯率影響。我們預期本季稀釋後加權平均流通在外股數為 2.03 億股。

In conclusion, Q1 was another outstanding quarter. Our momentum is setting us up for a great year. As Bill highlighted, we're excited about our San Diego release. Our future innovation pipeline is robust, as we seek to extend our market leadership, deepening our competitive moat as the platform for digital business. ServiceNow is incredibly well positioned to become the defining enterprise software company of the 21st century. I'd like to invite you all to hear more about the momentum we're seeing and learn more about our new products and long-term opportunities at our upcoming Investor Day on May 24 in Las Vegas.

總結來說，第一季又是非常出色的一季。我們的動能正讓我們為精彩的一年做好準備。正如 Bill 所強調的，我們對 San Diego 版本的發布感到振奮。我們未來的創新管線相當強勁，我們將持續延伸市場領導地位，並作為數位業務平台加深我們的競爭護城河。ServiceNow 的定位極佳，有望成為 21 世紀具代表性的企業軟體公司。我想邀請各位在 5 月 24 日於拉斯維加斯舉行的投資人日，進一步了解我們所看到的動能，並深入認識我們的新產品與長期機會。

Finally, I'm extremely proud of our team's performance this quarter. Bill and I can't thank our employees enough for their continued hard work and dedication. And with that, I'll open it up for Q&A.

最後，我對我們團隊本季的表現感到無比自豪。Bill 和我對員工持續的辛勤付出與投入，怎麼感謝都不為過。接下來，我們開放問答。

(Operator Instructions) The first question comes from the line of Keith Weiss with Morgan Stanley.

（接線員指示）第一個問題來自 Morgan Stanley 的 Keith Weiss。

And a really nice quarter. Actually, it took -- 2 questions. One, just on kind of the overall macro backdrop and how you guys are kind of performing so well against that. One, is there any geographic differences? Like are you seeing any difference in sort of behavior in Europe versus behavior in the U.S. or Asia Pac? Or is it pretty much consistent across the board?

這一季真的很不錯。其實我有——兩個問題。第一個是關於整體總體環境背景，以及你們在這樣的環境下仍能表現得如此出色。首先，有沒有任何地理區域上的差異？例如，你們是否看到歐洲的行為與美國或亞太地區的行為有任何不同？還是基本上各地都相當一致？

And two, is there any -- like if you think about this period of time versus what we saw in 2020, right, and we were dealing with the COVID pandemic, are there any similarities or differences that you could point to in terms of what you're seeing now versus what you saw then?

第二個問題是，如果把這段期間和我們在 2020 年看到的情況相比，當時我們正面對 COVID 疫情，你能否指出一些相似之處或不同之處，來說明你們現在看到的狀況與當時相比如何？

Well, thank you very much, Keith. First of all, in terms of then and now, in both cases, the world's biggest challenges are ServiceNow's biggest opportunities. And if you remember, we stepped right up to the emergency response, returned to work safely. And that really spurred on a whole new business for ServiceNow, but more importantly, to establish the brand as a leader.

非常感謝你，Keith。首先，就當時與現在而言，在這兩種情況下，世界上最大的挑戰就是 ServiceNow 最大的機會。你如果還記得，我們當時立即投入緊急應變，協助安全復工。那確實為 ServiceNow 帶動了一個全新的業務，但更重要的是，建立了我們作為領導品牌的地位。

The case is also true now, right? The war in Ukraine, the rising inflationary environment, interest rates and dislocated supply chains, these are all opportunities for the Now Platform because this is the unique attribute of ServiceNow. We're an enterprise software market leader. Most of the companies, where they have felt the negative impacts of the environment have a consumer business that will be probably impacted from these forces, but the enterprises are basically saying it's a tech to compete world, and I have to invest now because I'm already, in many cases, falling behind.

現在同樣如此，對吧？烏克蘭戰爭、通膨環境升溫、利率，以及供應鏈失衡，這些對 Now Platform 來說都是機會，因為這正是 ServiceNow 的獨特之處。我們是企業軟體市場的領導者。多數公司在感受到環境的負面影響時，往往是其消費者業務可能會受到這些力量衝擊；但企業端基本上在說，這是一個「以科技競爭」的世界，我必須現在就投資，因為在許多情況下我已經落後了。

For example, just 2 years ago, 1/3 of the business was getting done in digital formats. Today, it's 2/3. And 2 years, it will be 90-plus percent. So if you don't get digital fast, you lose. The other thing, we're in a war for talent in the global economy, like that's never been seen before at this level. And there's unique attributes of how the software has to take care of the people. You have to recruit them, hire them, but you have to onboard them. That's one of the moments of truth that nobody does the way we do it. So they feel part of the culture no matter where they're working from. And then, of course, you have to give the consumer great experience to differentiate you.

例如，就在兩年前，只有三分之一的業務是以數位形式完成。今天已經是三分之二。再過兩年，將會超過 90%。所以如果你不能快速數位化，你就會輸。另一件事是，我們正處於全球經濟的人才爭奪戰，其程度前所未見。軟體必須以獨特方式照顧員工：你必須招募、聘用，但也必須讓他們順利到職（onboard）。那是關鍵時刻之一，而沒有人能像我們這樣做到，讓他們不論在哪裡工作，都能感受到自己是文化的一部分。然後，當然，你也必須提供消費者絕佳的體驗，才能形成差異化。

That is also true for the customer on a direct-to-consumer level and obviously creating the gaps on the low-code platform. So what I'm saying is, the world needs these problems solved, so we can help manage those macro effects that you're talking about. So the environment feels somewhat like it did then in that context, but we're redoubling our focus and our optimism across all employees anywhere in the world because all of our customers need us.

這在直面消費者（direct-to-consumer）的層面對客戶同樣成立，並且顯然也包括在低程式碼平台上創造落差。因此我想說的是，世界需要這些問題被解決，而我們可以協助管理你所提到的那些總體影響。所以在這個脈絡下，環境在某種程度上與當時相似；但我們正在加倍聚焦，並在全球各地的所有員工之間強化我們的樂觀，因為我們所有的客戶都需要我們。

So again, I think the unique differentiation is our clear focus on the enterprise and our consistent innovation. And on the geography scenario, it obviously will vary by quarter here and there. They're all strong. Americas was particularly strong, but all of our regions have strong pipelines and every reason to believe that it will be a consistent across-the-board effort everywhere in the world.

所以再說一次，我認為我們獨特的差異化在於對企業市場的清晰聚焦，以及持續一致的創新。至於地理區域的情況，當然每一季可能會有些差異。各區都很強。美洲地區特別強勁，但我們所有區域都有強大的商機管線，也完全有理由相信，這將會是在全球各地一致推進的努力。

Your next question comes from the line of Brad Sills with Bank of America.

下一個問題來自美國銀行（Bank of America）的 Brad Sills。

Congratulations on a real nice quarter here. The thing that really stands out to me is just the broad strength that you're seeing across different departments, ITSM, employee workflows, ITOM, security risk. These are multiple lines of business. My question is, what has changed about the go-to-market such that you're able to bridge the gap across so many different departments and find relevance for your solutions there? Is the global SI channel a key to that? Are there things that have changed in just your internal go-to-market as well?

恭喜你們交出非常漂亮的一季。最讓我印象深刻的是，你們在不同部門看到的廣泛強勁表現：ITSM、員工工作流程、ITOM、安全風險等，這些是多條業務線。我的問題是，你們的市場進入策略（go-to-market）發生了什麼改變，使你們能夠跨越這麼多不同部門的落差，並讓解決方案在那裡找到相關性？全球 SI（系統整合商）通路是關鍵嗎？你們內部的 go-to-market 是否也有改變？

Brad, thank you for your kind words, and also, you're on to something here. We became a platform company, Brad. We started out in IT and where you have a very proud technical excellence for the IT leaders around the world. And they really get behind ServiceNow in a big way because they know it works. And what happened along the way with this digital transformation world that we're living in right now, IT really became the business strategy because it's the only way to keep your business secure. It's the only way to make sure your employees can get what they need to do their work no matter where they're working from. It's the only way to reach out and innovate with those new next-generation customers who will only do business with you digitally.

Brad，謝謝你的好話，而且你確實抓到重點了。我們成為一家平台型公司了，Brad。我們從 IT 起家，並在全球 IT 領導者之間建立了非常值得自豪的技術卓越。他們之所以大力支持 ServiceNow，是因為他們知道它有效。而在我們如今所處的數位轉型世界中，IT 在過程中真的成為了商業策略，因為這是確保企業安全的唯一方式；這是確保員工不論在哪裡工作，都能取得完成工作所需資源的唯一方式；這也是觸及並與那些只願意以數位方式與你做生意的新一代客戶互動、並持續創新的唯一方式。

And ultimately, this creative workflow is massive because the number of applications that will be developed in the next 3 years supersede the number that have been built in the last half century. And there's not enough engineers in the world to do that, and they're doing that in record numbers on ServiceNow.

而最終，這種創造性的工作流程規模非常龐大，因為未來三年將被開發的應用程式數量，將超過過去半個世紀所建置的總和。全球沒有足夠的工程師來完成這件事，而他們正以前所未有的速度在 ServiceNow 上進行開發。

But here is the big difference. When we became the platform company, the leaders that believed in us that were generationally from the IT environment said, wow, with ServiceNow, I can do all this on 1 architecture, 1 platform, 1 data model, and I can give all the constituents on our enterprise with the need to win, whether they're in the HR department, sales and marketing, they could be in the field service or they could just simply be citizen developers trying to do something to help the company. And now I can do all that but govern it, make sure it's compliant and make sure the innovation is always tethered to the investments we've made in the past, so we can have a brighter future.

但最大的不同在這裡。當我們成為平台型公司後，那些世代上來自 IT 環境、並相信我們的領導者會說：哇，透過 ServiceNow，我可以在同一個架構、同一個平台、同一個資料模型上完成所有這些事；我也能把企業內所有需要致勝的利害關係人都納入其中——不論他們在 HR 部門、銷售與行銷部門、外勤服務，或只是想做點事情來幫助公司的公民開發者（citizen developers）。而現在我不僅能做到這些，還能加以治理，確保合規，並確保創新始終與我們過去的投資相連結，讓我們能擁有更光明的未來。

And that's the big difference. And internally, we've moved to a solutions by industry and persona and business impact company along the lines of that platform, and everybody is super excited about where we're going.

這就是最大的不同。而在內部，我們也沿著這個平台方向，轉型為一家以「依產業與角色（persona）以及業務影響」來提供解決方案的公司，大家都對我們前進的方向感到非常興奮。

Your next question comes from the line of Arjun Bhatia with William Blair.

下一個問題來自 William Blair 的 Arjun Bhatia。

Perfect. And I will add my congrats on a great quarter. Bill, maybe I want to follow up on your conversation about inflation earlier. I'm sure you're seeing hosting costs go up, labor costs are increasing. At the same time, right, with your product, you're adding more value to customers. You've talked about ServiceNow being a deflationary platform and you're innovating. But how do you think about pricing in this environment for your solution? Is there an opportunity to be more aggressive as you add more value and to try to maybe offset some of the costs that are increasing on the OpEx side?

很好。我也要恭喜你們有一個很棒的季度。Bill，我想延伸追問你先前談到通膨的部分。我相信你們也看到託管成本上升、勞動成本增加。同時，對客戶而言，你們的產品也在提供更多價值。你們談過 ServiceNow 是一個具通縮效應的平台，而且你們持續創新。但在這樣的環境下，你們如何看待解決方案的定價？當你們增加更多價值時，是否有機會採取更積極的定價策略，來嘗試抵消營運費用（OpEx）端上升的一些成本？

No, it's a really good question, Arjun. I think the main thing to take away from this is when you are in a privileged position because the technology has such a strong advantage, in software, if you do it right, you shouldn't have discount thresholds that behave like doing it wrong. So in software, if you can control your pricing algorithm and make sure that you're getting the price you deserve for your product because it has a well-constructed business impact that's been clearly defined with the customer, you find that you can actually improve price/performance without exacting large enterprise change to the customer.

不，這真的是個很好的問題，Arjun。我認為這裡最重要的重點是：當你處於一個相對有利的位置，因為技術在軟體領域具有非常強的優勢時，如果你做對了，你就不應該出現那種「像做錯了一樣」運作的折扣門檻。因此在軟體業，如果你能掌控你的定價演算法，並確保你為產品取得應得的價格——因為它對業務的影響已被良好建構，且在與客戶互動時已清楚定義——你會發現其實你可以在不要求客戶進行大規模企業變更的情況下，改善價格/效能比。

And that's what we're really seeing. We're really seeing a professionalism around how we comport our story, the power and impact of the platform and how we can make that fully transparent to our customers. And we even invented an application that they're using on their business iPhones right now where they can see the impact of the projects they do with ServiceNow and the return on those investments as they are tethered to the original business case that was done at the point of sale. That's the level of precision that I'm unaware of another enterprise company operating on. So it's really about value, it's really about business impact, and our customers are buying in.

而這正是我們真正看到的。我們看到的是：我們在敘事呈現方式上更專業，平台的力量與影響力，以及我們如何把這些對客戶做到完全透明。我們甚至發明了一個應用程式，他們現在就在商務 iPhone 上使用，能看到他們用 ServiceNow 所做專案的影響，以及這些投資的報酬——而且這些都與銷售當下所建立的原始商業案例相連結。這種精準程度，我不知道還有哪一家企業公司能做到。所以這真的關乎價值，真的關乎業務影響，而我們的客戶正在買單。

Your next question comes from the line of Karl Keirstead with UBS.

下一個問題來自 UBS 的 Karl Keirstead。

Gina, I just wanted to give you a chance to elaborate on the U-shape cRPO trajectory in 2022. And in particular, I just wanted to clarify the 1- to 2-point sequential headwind to that metric. So does that mean that the 28% guide in 2Q would be maybe 29%, 30% normalized. And then in 3Q, do you get another 1- to 2-point headwind before you get that acceleration in 4Q? Love any color you can provide, as I think others on the call would.

Gina，我想請你再多談一下 2022 年 cRPO 呈 U 形走勢的軌跡。特別是，我想釐清這個指標在序列上有 1 到 2 個百分點的逆風。也就是說，2Q 指引的 28%，若做常態化可能是 29%、30%？那麼到了 3Q，在 4Q 加速之前，是否還會再遇到另一個 1 到 2 個百分點的逆風？希望你能提供一些補充說明，我想電話會議上的其他人也會想了解。

Thank you, Karl. That's exactly right. And so basically, what we're saying is that there's a 1- to 2-point impact in Q2 and Q3 because of this new, this large renewal cohort. And so if you think about a renewal and a customer that at the end of Q4 2021 had $1 million, right? And that's up for renewal in Q4 in 2022, while in Q4 of last year, cRPO would have had $1 million, then in Q1, it would have had $750,000. Then in Q2, it would have had $500 million; Q3, $250,000. So that's the impact that we're talking about. And we've quantified it for you at between 1% to 2%, and you've got it exactly right how you're talking about it with the math.

謝謝你，Karl。你說得完全正確。基本上，我們的意思是：由於這個新的、規模很大的續約客群，Q2 和 Q3 會各有 1 到 2 個百分點的影響。你可以這樣想：假設某個續約客戶在 2021 年 Q4 結束時有 100 萬美元，且在 2022 年 Q4 需要續約；那麼在去年 Q4，cRPO 會包含 100 萬美元，到了 Q1 會變成 75 萬美元；接著 Q2 會是 50 萬美元；Q3 則是 25 萬美元。這就是我們所說的影響。我們已為你量化為 1% 到 2% 之間，而你用數學方式的理解完全正確。

Your next question comes from the line of Phil Winslow with Credit Suisse.

下一個問題來自 Credit Suisse 的 Phil Winslow。

Congrats on another just outstanding quarter. Bill, thanks for all the color you gave on just the feedback you're getting from customers in terms of just the prioritization of IT spending and ServiceNow. And it really does feel like you're leaning into that opportunity. When I look at sales and marketing head count, that's up 25% year-over-year. My question is, I guess, twofold. One, what are your goals just for hiring in this line for the year? And are there any areas where you think ServiceNow is going to be leaning into, whether it'd be geographic or vertical functionality? And then Gina, I wonder if you could just comment on the sales productivity ramp time that you're seeing?

恭喜又交出一個非常出色的季度。Bill，謝謝你分享了很多你從客戶那裡得到的回饋，特別是關於 IT 支出優先順序以及 ServiceNow 的位置。感覺你們確實在把握這個機會。我看到銷售與行銷的人力年增 25%。我的問題大概有兩部分：第一，你們今年在這條線上的招募目標是什麼？以及你認為 ServiceNow 會在哪些領域加大投入——不論是地理區域或垂直產業/功能？第二，Gina，我想請你談談你們目前看到的銷售生產力爬坡時間。

Phil, thank you very much, Phil. What's really wonderful about ServiceNow is we just crossed our 18,000th employee that we'll be onboarding in the next week or so. So we continue to be the place people want to work. And that's super exciting because in this environment, I get phone calls from other Boards of Director members telling me there's no boomerang going back to their company from ServiceNow because people are choosing so many options within the ServiceNow family.

Phil，非常感謝你，Phil。ServiceNow 真正很棒的一點是：我們剛剛跨過第 18,000 位員工，而我們會在接下來一週左右讓他入職。所以我們仍然是大家想來工作的地方。這在目前的環境下非常令人振奮，因為我會接到其他董事會成員打來的電話，告訴我從 ServiceNow 回流到他們公司的「回鍋」幾乎沒有，因為人們在 ServiceNow 這個大家庭裡有太多選擇。

As you know, we hired very heavily in R&D. This is an innovation machine. It's a growth machine. And we also are cognizant of sales and marketing to make sure that the things we do tend to have a quota-carrying equation associated with them. So the leverage is there for shareholders. So Gina will give you some of the facts and figures on it. But I just think it's super important to have a brand that's the place people want to be, especially in this very, very tight labor market for digital skills.

如你所知，我們在研發上大量招募。這是一台創新機器，也是一台成長機器。同時我們也很留意銷售與行銷，確保我們做的事情通常都能對應到「帶配額」的方程式。因此股東能看到槓桿效益。Gina 會提供一些事實與數字，但我認為擁有一個「大家想加入」的品牌非常重要，尤其是在數位技能人才極度緊俏的勞動市場中。

Yes. And I would just add, Phil, that you're seeing the numbers, right? Q1 headcount up 28% year-over-year in this environment is pretty phenomenal, and hats off to our HR function and recruiting function and all of the teams for being able to do that. But you're seeing it right. We continue to invest in sales and marketing and R&D. It's really about driving innovation and sales and marketing, really getting that strong go-to-market that we've been talking about. We talked about for the full year expecting hiring in the high 20s, and we're absolutely on that trajectory to continue that.

是的。我也想補充，Phil，你看到的數字就是如此：在這樣的環境下，Q1 人力年增 28% 非常驚人，要向我們的人資與招募團隊以及所有團隊致敬，能做到這點。但你看得沒錯。我們持續投資於銷售與行銷以及研發。這真的關乎推動創新，以及在銷售與行銷端建立我們一直在談的強大 go-to-market。我們先前提到全年預期招募增幅在接近 30% 的高 20% 區間，而我們確實完全走在這條軌跡上，會持續如此。

With respect to productivity with the sales folks, we're definitely seeing good productivity increases year-over-year in Q1 and expect to see that continue throughout the year. So go-to-market teams are executing very well. We feel really good about the results.

至於銷售人員的生產力，我們確實在 Q1 看到良好的年增提升，並預期這種趨勢會在全年持續。因此 go-to-market 團隊執行得非常好。我們對結果感到非常滿意。

Your next question comes from the line of Samad Samana with Jefferies.

下一個問題來自 Jefferies 的 Samad Samana。

Congrats on just another very great quarter from you guys in a tough environment. Maybe during the quarter, we went to the Federal Forum. And it was great to see attendance there be very robust. It felt like we were back to pre-COVID times. And I'm just curious, have you seen the demand to match that and particularly with the higher DoD IL5 level certification. How should we think about that in terms of both opening up new opportunities and expanding the TAM within the federal sector that you're targeting?

恭喜你們在艱難環境下又交出非常好的季度表現。也許在這個季度期間，我們去了 Federal Forum。很高興看到出席人數非常踴躍，感覺回到了 COVID 之前。我想請教的是：你們是否也看到需求與之相匹配？特別是在 DoD IL5 等級認證更高之後。我們應該如何看待這件事，無論是在開啟新機會，或是在你們鎖定的聯邦部門中擴大 TAM（總可服務市場）方面？

Well, thank you very much, Samad, first of all, for attending. We really appreciate it. As you know, that forum was really successful. It was done in person, and it was the most successful Federal Forum we've ever had, and it happened post the COVID in the sense that people started to travel a little bit again. I think you called it really well.

首先非常感謝你，Samad，來參加。我們真的很感激。如你所知，那個論壇非常成功。它是以線下方式舉辦，而且是我們歷來最成功的一次 Federal Forum；也可以說是在 COVID 之後，人們開始再次出差旅行的背景下發生的。我覺得你形容得很到位。

I think the big sensational outcome from that was not only that U.S. federal saw 100% growth on a year-over-year basis in what we refer to as net new average contract value. But you also see the certification on IL5 really taking off, and I believe that our partnership with Microsoft will show up very big, especially congratulate Microsoft and Satya on having a very strong quarter. I wish him well. It's fantastic. And we have very good partnership with them. So I think we can solve a lot of problems for U.S. federal is a big market opportunity.

我認為那次最令人振奮的成果是：不僅美國聯邦業務在我們所稱的「淨新增平均合約價值」上年增 100%，你也看到 IL5 的認證真的開始快速起飛。我相信我們與 Microsoft 的合作會帶來非常大的成果；也特別恭喜 Microsoft 和 Satya 交出非常強勁的一季，我祝他一切順利，真的很棒。我們與他們的合作關係非常好。所以我認為我們能為美國聯邦解決很多問題，這是一個很大的市場機會。

And the President's management agenda and the administration's guide to their constituents is really for the government to deliver results fast, drive digital transformation, and they're adopting the Now Platform as a standard. And we're only 1 of a couple, there's 3 total, including Microsoft, that are IL5 certified. So I think you caught on to something here that could be a wellspring of opportunity.

而總統的管理議程以及政府對其民眾的施政指引，核心就是要政府快速交付成果、推動數位轉型，他們正在把 Now Platform 作為標準來採用。而在 IL5 認證方面，我們只是少數幾家之一——總共只有 3 家，包括 Microsoft——取得 IL5 認證。所以我認為你抓到了一個重點，這可能會成為機會的泉源。

I'll finally close off this workplace service delivery capability of ServiceNow and our safe workplace applications have seen the strongest interest from federal customers. And again, that's fueled by the Biden administration's agenda. And the quote that I would give you, as I remember it, they said that federal will lead the way to returning to work now. So this is a very strong business for us. Incidentally, that TAM for the government marketplace globally is an enormous TAM, as you know. So being a leader in U.S. federal, also we're doing a lot in state and local, is quite a statement. And I think that, that will drive growth around the world.

最後我想補充：ServiceNow 的 workplace service delivery（職場服務交付）能力，以及我們的安全職場應用，已經在聯邦客戶中看到最強的興趣。而這同樣是由拜登政府的議程所推動。我記得他們的原話大意是：聯邦政府將帶頭引領現在回到辦公室。因此這對我們而言是一項非常強勁的業務。順帶一提，如你所知，全球政府市場的 TAM 非常龐大。所以在美國聯邦成為領導者，同時我們也在州與地方政府做了很多，這本身就是很有力的宣示。我認為這將推動我們在全球的成長。

Your next question comes from the line of Kash Rangan with Goldman Sachs.

您的下一個問題來自高盛（Goldman Sachs）的 Kash Rangan。

Let me call my congratulations on a spectacular quarter. Bill, I think you've got the macro argument pretty well nailed. I'm not going to ask that question, but I'm curious to get your thoughts as you scale the company to a 15-plus, I noticed the plus after 15. How do you think about distribution, given that you've run big distribution of big companies before. The customer count of 7,000, 8,000 certainly is very impressive, big deal sizes. As we envision the life beyond 15-plus, what is the go-to-market structure of the company look like? Are we looking at a 2-tier, 3-tier type distribution, predominantly go-to-market, high-end, channel, SI, et cetera. Help us envision the future, Bill, to get to your target.

先讓我向你們這個精彩的季度表現致上祝賀。Bill，我認為你已經把宏觀論點講得很到位了。我不打算問那個問題，但我想聽聽你在把公司規模擴張到 15 以上（我注意到你在 15 後面加了「plus」）時的想法。鑑於你過去也操盤過大型公司的大型通路，你如何看待分銷／通路？7,000、8,000 的客戶數確實非常令人印象深刻，交易規模也很大。當我們展望 15-plus 之後的發展，公司未來的 go-to-market 結構會是什麼樣子？我們會看到 2 層、3 層的通路型態嗎？主要是直銷的 go-to-market、高端市場、渠道、SI（系統整合商）等等？Bill，請幫我們描繪一下未來，讓我們理解你要達成目標的路徑。

Thank you very much, Kash, for the question. So the distribution, I again reiterate, our focus right now is on the enterprise. We're an enterprise software market leader. We have lots of work still left to do in geographic expansion for the company. There's a huge opportunity in markets like Japan, obviously, all across Europe, LatAm. I really like to focus on markets like Canada, of course, treat markets the way they want to be treated in that localized style.

非常感謝你，Kash，提出這個問題。關於通路／分銷，我再次重申，我們目前的重點在企業市場。我們是企業軟體市場的領導者。公司在地理擴張方面仍有大量工作要做。像日本這樣的市場有巨大的機會，當然還有整個歐洲、拉丁美洲。我也很希望聚焦像加拿大這樣的市場，當然，要以在地化的方式對待市場，按照市場希望被對待的方式來經營。

We obviously have lots of expansion rights in the Middle East and other places. And I'm looking at bellwether markets like Germany, France and the U.K., which are already now starting to take off beautiful. So there's a geographic component. We also have segmented the way we develop software and take that software to market by industry. And as you know, we're very focused on your industry, of course, financial services, one, but there's telecom, there's manufacturing, there's every industry under the sun in motion, but we've gone strong with 6, including life sciences and so forth.

我們在中東以及其他地區顯然也有很多擴張權利。我也在關注像德國、法國、英國這些指標性市場，而它們現在已經開始漂亮地起飛。所以這裡有地理面的因素。我們也依照產業來分段（segment）我們如何開發軟體並把軟體推向市場。你也知道，我們非常聚焦在你的產業，當然金融服務是一個；但還有電信、製造業，以及各行各業都在動起來。我們在 6 個產業上做得很強，包括生命科學等等。

And then persona-based. If you think about taking this platform across the enterprise, you have to speak intelligently to all the C-level executives that run the enterprise. And we have a Rubik's Cube formula around the geography, the industry and the persona that's now being executed at an art form level by our great marketing communications leader and his team. So I'm super impressed with that.

然後是以 persona（角色）為基礎。如果你想把這個平台推廣到整個企業，你必須能夠有智慧地對企業的所有 C-level 高階主管溝通。我們有一個像魔術方塊（Rubik's Cube）一樣的公式，圍繞地理、產業與 persona，而這套方法現在正由我們優秀的行銷傳播負責人及其團隊，以近乎藝術的水準在執行。所以我對此印象非常深刻。

We also did something, I think, very interesting with Lightstep that a lot of people haven't picked up on, but Lightstep is a next-generation customer platform. And when you think about having 1 user experience across the whole enterprise, where people are in and out of different screen styles to figure out what they're observing, you also have an observability platform that is a direct-to-consumer platform by design that I think is a precursor to many of the things we can do with the core. And also, we could take the core and put it in prepackaged, ready-to-run solutions and build an ecosystem around that and turn on a whole new channel of small- and mid-market channel partners as we take the company everywhere.

我們也做了一件我認為非常有意思的事：Lightstep。很多人可能還沒注意到，但 Lightstep 是下一代的客戶平台。當你思考在整個企業中提供一致的使用者體驗（1 user experience），讓人們不必在不同的畫面風格之間進進出出來理解他們在觀察什麼時，你同時也擁有一個可觀測性（observability）平台；而這個平台在設計上就是 direct-to-consumer（直接面向使用者）的，我認為這是我們未來在核心產品上能做很多事情的前導。此外，我們也可以把核心產品做成預先封裝、可立即運行的解決方案，並圍繞它建立生態系，當我們把公司推向各地時，啟動一個全新的中小市場渠道夥伴通路。

And so now, on the big partner channel, there isn't a single one out there in the top 10 that doesn't at least start with a B, meaning we don't have million-dollar conversations, we have billion-dollar conversations, and we even have the top 1 now chasing $10 billion.

所以現在，在大型夥伴通路上，前 10 名裡沒有任何一家不是至少以 B 開頭——也就是說，我們談的不是百萬美元的對話，而是十億美元的對話；而且現在甚至有排名第一的夥伴在追逐 100 億美元。

So I mean, Kash, in short, we're going to chase every market opportunity all over the world, and we're going to win. And we have a team that's ready to conquer this market like never before. It's so exciting here right now, Kash. I just wish you could be in the building to see it.

所以，Kash，簡而言之，我們會在全球各地追逐每一個市場機會，而且我們會贏。我們有一支團隊，準備以前所未有的方式征服這個市場。Kash，現在這裡真的非常令人興奮。我真希望你能在大樓裡親眼看看。

And on that note, Kash, I hope to see you on May 24 at Investor Day because we'll talk a lot about what we look like at $10 billion and $15 billion-plus. So hope to see you there.

順帶一提，Kash，我希望 5 月 24 日在投資人日（Investor Day）見到你，因為我們會談很多關於我們在 100 億美元與 150 億美元以上（$15 billion-plus）時會是什麼樣子。希望到時見到你。

I'm already there. Definitely seeing you there.

我已經會在那裡了。一定會見到你。

That's great. But can you feel it, Kash? Can you feel the building?

太好了。但你感受得到嗎，Kash？你感受得到這棟大樓的氛圍嗎？

I can. Absolutely.

我感受得到。絕對。

Your next question comes from the line of Matt Hedberg with RBC Capital Markets.

您的下一個問題來自 RBC Capital Markets 的 Matt Hedberg。

Bill, really as a follow-up to that last question. You mentioned of observability. You guys recently launched incident management platform. I think it's really infused with Lightstep and observability. I'm wondering if you can talk about the importance of that offering? And maybe just double-click again on sort of why you think you're going to win in observability, because it seems like a huge market opportunity for you guys.

Bill，算是延續上一個問題的追問。你提到了可觀測性（observability）。你們最近推出了事件管理平台（incident management platform），我認為它和 Lightstep 以及 observability 深度整合。我想請你談談這個產品的重要性？另外也想再深入一點，為什麼你認為你們會在 observability 領域勝出？因為看起來這對你們而言是一個巨大的市場機會。

Well, the first thing to recognize here, Matt, is huge market opportunities don't require anyone for -- to lose for us to win. They're huge market opportunities. So we'll still integrate, as we already do, with the largest participants in that market. And we want them to be successful because customers have invested in them and our way of going about things is that's great, let's make that customer successful together. That's why they integrate seamlessly into the Now Platform.

Matt，首先要認清的一點是：巨大的市場機會並不需要有人「輸」我們才能「贏」。它之所以巨大，就是因為它本身很大。因此，我們仍會像現在一樣，與該市場中最大的參與者整合。我們也希望他們成功，因為客戶已經在他們身上投資了；而我們的做法是：很好，那我們一起讓客戶成功。這也是為什麼他們能無縫整合到 Now Platform。

At the same time, we have many customers that realize that ServiceNow can out-innovate just about anybody in the marketplace, so they want us to do more for them. And clearly, observability was one of those categories. And we just got there a lot faster with Lightstep because we believe Ben and his team are the most innovative in the industry. And we're just so proud to have such trust and partnership with them and such big dreams together.

同時，很多客戶也意識到 ServiceNow 幾乎可以在市場上超越任何人進行創新，所以他們希望我們為他們做得更多。而可觀測性顯然就是其中一個類別。我們透過 Lightstep 更快地切入，因為我們相信 Ben 和他的團隊是業界最具創新力的。我們非常自豪能與他們建立如此高度的信任與合作夥伴關係，並一起擁有宏大的夢想。

So Lightstep launched incident response, as you said. It's the first new product since joining ServiceNow, and it's big. So incident response will add a lot of context and automation to the incident response process, and customers are looking for that. And by the way, they may even have more than 1 incident response vendor in there. So we don't rail against others. What we try to do is work for the customer. We've put our hard hat on, roll up our sleeves and we go to work.

正如你所說，Lightstep 推出了 incident response（事件回應）。這是加入 ServiceNow 之後的第一個新產品，而且規模很大。incident response 會為事件回應流程帶來更多情境（context）與自動化，而客戶正在尋找這些能力。順帶一提，他們的環境裡甚至可能不只 1 家 incident response 供應商。所以我們不會去抨擊其他人；我們努力的是為客戶工作。我們戴上安全帽、捲起袖子，直接投入工作。

Lightstep also launched an industry-first unification of observability analytics, and they also get collaborative notebooks. So these innovations are breaking down those silos I referenced between metrics and tracing and streamlining its critical SRE workflow space. So in Q1, for example, we signed some cool deals along with Plaid, which we're very proud of. And that's a data networking company, as you know, and they're powering the fintech and digital finance product space, and they're using Lightstep for complete visibility into distributed architectures, and they're allowing Plaid to investigate CI and CV issues, and they're doing it 20x faster than they used to.

Lightstep 也推出了業界首創的可觀測性分析（observability analytics）統一化，並提供協作式 notebooks。這些創新正在打破我提到的那些在 metrics 與 tracing 之間的孤島，並簡化關鍵的 SRE 工作流程領域。所以例如在第一季，我們與 Plaid 簽下了一些很酷的案子，我們對此非常自豪。你也知道，Plaid 是一家資料網路公司，為 fintech 與數位金融產品領域提供動力；他們使用 Lightstep 來對分散式架構取得完整可視性，讓 Plaid 能夠調查 CI 與 CV 問題，而且速度比過去快了 20 倍。

And we also got Airtable, again, cool brand, next-generation brand, and they're building collaborative applications, and they're driving the reliability of complex distributed systems and proactively improving performance for users, and again, more effectively monitoring and resolving both system-wide and specific customer issues, but they're doing it with 1 UI, and they're not balancing people in and out of different experiences.

我們也拿下了 Airtable，同樣是很酷的品牌、下一代品牌。他們在打造協作式應用，並提升複雜分散式系統的可靠性，主動改善使用者的效能體驗；同樣地，他們能更有效地監控與解決系統層級以及特定客戶的問題，但他們是用 1 個 UI 來完成，而不是讓人員在不同體驗之間來回切換。

And this is what I keep going back to when you talk about real platform innovation and the integrity of a consumer-grade experience, and you can do that across an entire enterprise. That's why I believe our Board of Directors did a great job of defining enterprise software company in the 21st century is doing it with a DESCO 21C logo. So now we have 18,000 people that all they think about is DESCO 21C, whether you're innovating, covering a customer or just driving the conversation. We know where we're going.

這也是我一直回到的重點：當你談到真正的平台創新，以及消費者等級體驗（consumer-grade experience）的完整性，而且你能把它擴展到整個企業。這就是為什麼我相信我們董事會在定義 21 世紀的企業軟體公司時做得非常好——用一個 DESCO 21C 的標誌來定義。所以現在我們有 18,000 名員工，他們思考的都是 DESCO 21C：不論你是在創新、服務客戶，或只是推動對話。我們知道我們要往哪裡去。

Your next question comes from the line of Alex Zukin with Wolfe Research.

您的下一個問題來自 Wolfe Research 的 Alex Zukin。

And congrats on the truly inspiring quarter-end message in a tough tape. I guess maybe just 2 for me, Bill. You talked about the health in the federal vertical on the call. I was wondering if you could also maybe comment on some of the other verticals that you're seeing success in and saw success in the quarter and how we should think about just greater verticalization in the product itself, either for telco or finserv or others? And then just a follow-up for Gina.

也恭喜你們在艱難盤勢下，季度末的訊息真的很振奮人心。Bill，我這邊大概兩個問題。你在電話會議中談到聯邦（federal）垂直領域的健康狀況。我想請你也評論一下其他一些你們看到成功、並且在本季取得成功的垂直領域？以及我們應該如何看待產品本身更深度的垂直化（verticalization），不論是電信（telco）、金融服務（finserv）或其他？另外再追問 Gina 一個問題。

Sure. Sure. Well, thank you very much, Alex, for your very kind remarks. It means a lot to us. Our team is doing a really great job. And when they hear that, you just inspire us to go higher, and we appreciate it. So thank you.

當然。當然。嗯，Alex，非常感謝你非常友善的評語。這對我們意義重大。我們的團隊做得非常出色。當他們聽到這些話時，會激勵我們追求更高的目標，我們非常感激。所以謝謝你。

We've done a lot in terms of the vertical coverage. We have our great Chief Operating Officer, CJ Desai, now not only running all of engineering with what we believe to be the best engineering team in the business, but also, he's overseeing our industry orientation and the whole go-to-market around that. And he teams up in a beautiful way with the go-to-market team, our excellent leader Paul Smith and great regional presence. We have just super proud of our team. But banking is really simplifying the whole middle to back-office operation context, and financial services is going really well.

我們在垂直產業覆蓋方面做了很多工作。我們有很棒的營運長 CJ Desai，現在他不僅負責所有工程工作，帶領我們認為是業界最強的工程團隊，同時也在統籌我們的產業導向，以及圍繞這一點的整體 go-to-market 策略。他也與 go-to-market 團隊以非常好的方式協作，我們優秀的領導者 Paul Smith 以及強大的區域佈局。我們對團隊感到非常自豪。而在銀行業方面，確實是在簡化整個中後台營運的脈絡，金融服務的進展也非常順利。

I referenced Barclays, but there's just so many that are all-in on ServiceNow. Our telecommunication solution is really aligning customer care and service assurance, transforming -- just think about how communication service providers deliver great customer experiences. And you can't get away with fixing problems anymore. You've got to proactively anticipate these issues before they even come up. And if they do come up, you've got to address them quickly to maximize availability and quality of service. So we're seeing a lot of traction in telecommunications and we're really becoming the standard across the board.

我提到了 Barclays，但其實還有非常多家都全面採用 ServiceNow。我們的電信解決方案正在真正對齊客戶關懷與服務保障，推動轉型——想想看通訊服務供應商如何提供卓越的客戶體驗。你已經不能只是在問題發生後才修復了。你必須在問題出現之前就主動預判這些議題。而如果真的出現了，你也必須快速處理，以最大化可用性與服務品質。所以我們在電信領域看到很強的動能，而且我們正逐步成為全方位的業界標準。

We're super happy with manufacturing and what we're doing there, operations technology management, driving the whole notion of what these manufacturers are trying to do to have their critical technology available and provide visibility and security of all of their assets.

我們對製造業以及我們在那裡所做的事情感到非常滿意，包括營運技術管理（operations technology management），推動製造商想要達成的整體理念：讓其關鍵技術保持可用，並為所有資產提供可視性與安全性。

Another one I would underscore is health care and life sciences service management. How do you connect cross functional health systems and teams and simplify how people engage with their health care providers, payers, pharma companies and medical device organizations. It's all about the patient experience.

我還想特別強調的是醫療保健與生命科學的服務管理。你要如何連結跨職能的醫療體系與團隊，並簡化人們與其醫療服務提供者、保險支付方、製藥公司以及醫療器材組織互動的方式。一切都圍繞著病患體驗。

And high-tech manufacturing, another one that's really come on strong for us. I mean I could give you more, but those are the ones that are just rocking right now. And 1 theme I will give you is you can't give a customer a 3-star Michelin experience unless you first give it to your employees. And the Now Platform is really controlling the conversation now for enlightened decision-makers because they're like, I've got to tether my IT excellence to the employee experience, and I've got to take care of my customers in new and highly innovative ways. And this platform does the magic they need done, but it does it in days or weeks, not months and months and months and years.

還有高科技製造，這也是我們近期表現非常強勁的一塊。我可以再舉更多例子，但這些就是目前最火熱的領域。而我想給你的一個主題是：除非你先給員工一個三星米其林等級的體驗，否則你不可能給客戶同樣的體驗。Now Platform 現在正在主導這場對話，因為有遠見的決策者會想：我必須把 IT 卓越能力與員工體驗綁在一起，並且要用全新且高度創新的方式照顧我的客戶。這個平台能完成他們需要的「魔法」，而且是以天或週為單位，而不是幾個月、幾個月、幾個月，甚至好幾年。

And finally, in all these solutions, we're cooperating with those systems of record. The customer knows that they're there and they've got them and they're very important to their business. So we just come in quickly and make everything better for everyone.

最後，在所有這些解決方案中，我們都會與那些系統紀錄（systems of record）合作。客戶知道那些系統存在，他們也已經擁有，而且對他們的業務非常重要。所以我們只是快速進場，讓一切對所有人都變得更好。

That's awesome. Very inspiring, Bill. Gina, I guess the follow-up for you, you talked about accelerating growth in new ACV in the quarter. Again, which is quite rare for a company of your size to do quarter in, quarter out, not to mention in this type of macro environment. I guess the question is, as the comps get tougher through the year, but you do start returning to more in-person events, presumably more productivity from the sales force. Is it possible to see that type of new ACV momentum continue?

太棒了。非常鼓舞人心，Bill。Gina，我想追問你一下：你提到本季新 ACV 的成長加速。對於你們這種規模的公司而言，能夠一季接一季做到這點其實相當罕見，更不用說在這樣的總體環境下。我的問題是，隨著今年比較基期變得更具挑戰，但你們也開始回到更多線下活動，銷售團隊的生產力理應提升。是否有可能看到這種新 ACV 的動能持續下去？

So we -- I talked about in my prepared remarks that we expect Q2 to show accelerating net new ACV growth as well, right? Consistent. Whether that lasts for the full year, they're pretty incredible comps. And so we obviously don't guide to full year net new ACV, Alex. But the reason I spoke about it specifically was really because I wanted everyone to feel confident that the cRPO guide, although slightly less than Q1, really had this impact, right? And that it wasn't driving -- it wasn't a result of the underlying business that, in fact, we're seeing accelerating net new ACV in Q1 and expect similar in Q2.

所以——我在事先準備的發言中提到，我們預期 Q2 也會呈現淨新增 ACV 成長加速，對吧？保持一致。至於這是否能維持到全年，那些比較基期確實非常驚人。因此我們當然不會對全年淨新增 ACV 提供指引，Alex。但我之所以特別提到這點，主要是因為我希望大家對 cRPO 的指引有信心，雖然它略低於 Q1，但確實受到這個因素的影響，對吧？而且它並不是——並不是因為基本面業務走弱所致；事實上，我們在 Q1 看到淨新增 ACV 加速，並預期 Q2 也會類似。

So that was the reason for my comment. I'm so proud of our entire organization for being able to drive an acceleration of this scale at our scale. And just really excited about the momentum we're seeing into Q2. We feel really strong and good about the guide for the full year. And the momentum that we're seeing in Q1, we expect to be consistent throughout the year.

所以這就是我評論的原因。我為整個組織感到非常自豪，能在我們這樣的規模下推動如此幅度的加速。也對我們進入 Q2 所看到的動能感到非常興奮。我們對全年指引感到非常有信心、也很踏實。而我們在 Q1 看到的動能，我們預期全年都會保持一致。

Your next question comes from the line of Gregg Moskowitz with Mizuho.

下一個問題來自 Mizuho 的 Gregg Moskowitz。

I'll add my congrats on a really good quarter. Bill, we all tend to think about ITSM as the workhorse for ServiceNow, but it's interesting that it was only included in 11 of your top 20 deals, which is quite a bit less than what we usually see. And I think you mentioned also that 9 of your top 10 were led by non-ITSM products. So do you look at this Q1 result with respect to this metric as more of an anomalous outcome? Or do you think it's reflective of ServiceNow increasingly landing and expanding with other workflow automation solutions?

我也要補上一句，恭喜你們交出非常好的季度表現。Bill，我們通常會把 ITSM 視為 ServiceNow 的主力引擎，但有趣的是，它只出現在你們前 20 大交易中的 11 筆，這比我們平常看到的要少不少。而且我想你也提到，你們前 10 大交易中有 9 筆是由非 ITSM 產品主導。所以你怎麼看待 Q1 在這個指標上的結果？這比較像是一次性的異常？還是你認為這反映了 ServiceNow 越來越多是以其他工作流程自動化解決方案來落地並擴張？

Gregg, it's a great question. Actually, we're so encouraged with our core. Our core is growing beautifully. And if you look at the revenue outcome from our core, it's right there at the corporate rate. So what you're seeing has nothing to do with any dilution in that core business. On the contrary, we've got enormous uplift with our Pro SKU, as you know. That's a 25% uplift. So it's 30% penetrated now. So there's lots of people that like it and there's many more to go. So we have lots of room left on the Pro SKU.

Gregg，這是個很好的問題。其實，我們對核心業務非常受到鼓舞。我們的核心成長得非常漂亮。而如果你看核心帶來的營收結果，它與公司整體成長率一致。所以你看到的現象，與核心業務被稀釋完全無關。相反地，如你所知，我們的 Pro SKU 帶來了巨大的提升幅度，那是 25% 的 uplift。現在滲透率已達 30%。所以很多人喜歡它，而且還有更多客戶可以推進。因此我們在 Pro SKU 上仍有很大的成長空間。

If you think about the kind of customers where we're winning, I mean, the great brands, AmerisourceBergen, Baptist Health, Regeneron, DIC pharma -- I mean it goes on and on. Royal Bank of Canada, Telefónica. Every -- Wipro, for example, just like sort of complete generational change with it.

如果你想想我們正在贏下的客戶類型——都是很棒的品牌：AmerisourceBergen、Baptist Health、Regeneron、DIC pharma——我的意思是，例子多到說不完。加拿大皇家銀行（Royal Bank of Canada）、Telefónica。還有——例如 Wipro，這就像是一次完整的世代更替。

So let me make sure I make it clear. The core business has never been stronger. There's no revenue dilution whatsoever. What is happening, we are landing and expanding. And you're right, the IT concept really did form the basis for us to move into the employee experience, the customer experience, the whole creative workflow where citizen developers are now really creating the future they want to see. And without that ever solid magnificent core, none of that would have been possible.

所以我想把話說清楚：核心業務從未如此強勁，完全沒有任何營收稀釋。正在發生的是，我們在落地並擴張。你說得沒錯，IT 的概念確實為我們奠定了基礎，讓我們能延伸到員工體驗、客戶體驗，以及整個創意工作流程——現在公民開發者（citizen developers）正在真正打造他們想看到的未來。而如果沒有那個始終穩固、宏偉的核心，這一切都不可能發生。

So I want to really set the record straight. Our team is doing great across all these segments. The newer or the younger ones are obviously going to get some more land and expand opportunities. But we love on our core, and we love our leaders.

所以我真的想澄清事實。我們的團隊在所有這些領域都做得很棒。較新的或較年輕的產品線，顯然會有更多落地與擴張的機會。但我們熱愛我們的核心，也熱愛我們的領導團隊。

Your next question comes from the line of Kirk Materne with Evercore ISI.

下一個問題來自 Evercore ISI 的 Kirk Materne。

I'll echo the congrats on a really nice quarter. Bill, when the pandemic hit, you all were able to operate at a really high level virtually. But as a platform company, I was curious as to how beneficial it is to be able to actually see your customers in person and talk about the entirety of the solution as well as the ability to sort of move up the organization, meaning moving from the CIO suite up to the CEO level? I was just wondering if you could just expand on that a little bit because I think you're in a little bit different position than some other software companies that maybe only sell into 1 buying center.

我也要呼應一下，恭喜你們交出非常漂亮的一季。Bill，疫情爆發時，你們能以虛擬方式在很高的水準下運作。但作為一家平台型公司，我很好奇：能夠實際面對面見到客戶、討論整體解決方案，以及能夠在組織內往上推進——也就是從 CIO 團隊一路到 CEO 層級——這有多大的幫助？我想請你多談一點，因為我覺得你們的位置和一些其他軟體公司不太一樣，後者可能只賣給單一採購中心。

Thank you very much, Kirk. I have to tell you, one thing that did surprise me a little bit during the whole virtual environment is CEOs were looking for a good conversation. So we were able to participate in those conversations then, which is obviously helping us now. And we were also able to bring large-scale management team gatherings with our team and their team, so we did good. But now that we're opening up, we should do even better.

非常感謝你，Kirk。我必須說，在整個虛擬環境期間，有一件事確實讓我有點意外：CEO 們其實在尋找一場好的對話。所以當時我們就能參與那些對話，而這顯然也在現在幫助了我們。我們也能與我們的團隊和他們的團隊一起，舉辦大規模的管理團隊聚會，所以我們做得不錯。但現在逐步開放之後，我們應該能做得更好。

So I looked at my calendar for the year, I'll catch my family here and there on a weekend because I'm leaving Sunday for Europe, and after that tour of Europe, we'll be hitting Asia very, very soon after that. So we're going full speed, open up the company. We're doing these Knowledge events in 4 distinct locations, as I mentioned. Our sellers are going out on the street, and our management is going out on the street because that's where the customers are.

所以我看了看我今年的行事曆，我會在某些週末抽空和家人見面，因為我週日就要出發去歐洲，而在那趟歐洲行程之後，我們很快、非常非常快就會前往亞洲。所以我們會全速前進，把公司全面開放。我們會在我提到的 4 個不同地點舉辦這些 Knowledge 活動。我們的銷售團隊會走上街頭，我們的管理團隊也會走上街頭，因為客戶就在那裡。

And never forget that United Airlines commercial, when a guy walks in, he's got a bunch of envelopes and looks at his management team. We were sitting around the table, gauging it themselves and it goes, let's go visit some customers. So I expect we're going to get a lot of tailwinds out of that because you're right, to build trust with net new logos, it happens in person. It's hard to do that in a digital format. To really expand the relationship to an enterprise scale, it really does require a good meeting of the minds and emotional trust, and we'll do that.

而且別忘了那支聯合航空的廣告：有個人走進來，手上拿著一疊信封，看著他的管理團隊。我們坐在桌邊，自己評估著，然後他說：「我們去拜訪一些客戶吧。」所以我預期我們會因此獲得很多順風，因為你說得對，要和全新的客戶標誌建立信任，必須面對面才會發生。用數位形式很難做到。要把關係真正擴展到企業級規模，確實需要很好的思想交流與情感上的信任，而我們會做到。

So I really think this is going to be another step function improvement in ServiceNow's future because as a platform provider, getting our customers healthy through some of the challenges that they're fighting through is a seminal moment in our history, and I'm excited.

所以我真的認為，這將會是 ServiceNow 未來的另一個階躍式提升，因為作為一個平台供應商，協助客戶在他們正在奮力克服的一些挑戰中保持健康，是我們歷史上的關鍵時刻，我很興奮。

Your next question comes from the line of Tyler Radke with Citi.

下一個問題來自 Citi 的 Tyler Radke。

I wanted to ask you about how you're seeing the new Impact program roll out to your customers. And clearly, Bill, you talked a lot about some of the new products you're innovating on and delivering a lot of value to customers. But how are you just kind of threading that line between the base increases on existing products versus the new products that you're delivering and making sure that customers are able to take on the scope of new products where you guys are really innovating on.

我想請教你們如何看待新的 Impact 計畫向客戶推展的情況。很明顯地，Bill，你談了很多你們正在創新並推出、為客戶帶來大量價值的新產品。但你們如何在既有產品的基礎調價與你們正在交付的新產品之間拿捏平衡，同時確保客戶能夠承接你們真正正在創新的那些新產品的範疇？

Absolutely. I really appreciate the question. So here's the situation. Our customers need help. The Impact part of this equation, think of it much more in the value delivery context than any kind of a price increase. It's really accelerating the value realization for the customer against the software that they've already invested in and they want to extract as much business impact as they possibly can. And for too long, these customer relationships across every company you can think of is managed by a deck at a point of sale, and then ultimately, the sale is made and then the consultants come in. But it's kind of like job changes, people do different things, and a year later, someone's saying, "Hey, how did we do with that implementation again? Did we get what we bargained for?" And what we're basically doing is making sure that they do and that there's a professional format in doing that. And not just with ServiceNow, but also for our great partners.

當然可以。我非常感謝這個問題。情況是這樣：我們的客戶需要協助。這個方程式中的 Impact 部分，請把它更多地放在價值交付的脈絡來看，而不是任何形式的漲價。它真正做的是加速客戶對他們已經投資的軟體的價值實現，客戶希望盡可能萃取最大的業務影響。長久以來，你能想到的每一家公司的客戶關係，往往都是在銷售當下用一份簡報來管理，然後最終成交，接著顧問進場。但這有點像工作變動，人們做不同的事；一年後就會有人說：「欸，我們那次導入到底做得怎麼樣？我們有拿到當初談好的成果嗎？」而我們基本上要做的，就是確保他們確實拿到，而且用一種專業的方式來做到。不只是對 ServiceNow，也同樣適用於我們優秀的合作夥伴。

So just think of this concept as the Now Platform from ServiceNow is the place where every conversation takes place between the partner, the customer and ServiceNow. There's no e-mails, there's no texts, there's no chat on the side. It's all on 1 platform with everything detailed and spelled out, and we measure everything in real time with all the analytics and all the business outcomes spilled out in a way that could be presented to any Board of Directors.

所以把這個概念想成：ServiceNow 的 Now Platform 是合作夥伴、客戶與 ServiceNow 之間每一段對話發生的地方。沒有電子郵件、沒有簡訊、沒有私下的側邊聊天。所有內容都在同一個平台上，所有細節都被記錄並清楚列出，我們用所有分析工具即時衡量一切，並把所有業務成果以可呈現給任何董事會的方式完整展開。

So also on the pricing, again, I want to be clear, like we're not looking to make up for inflationary pressures by putting it on the customer. There are many new customers. There are many more logos. There are many more expansions to our platform. All we want to make sure of is that we do things highly professional, and we know the ranges where our professional expertise should be valued at. And in that valuing and in that business impact to the customer, a fair agreement is reached. We even developed a pricing structure that enables customers to partner with us and look at the enterprise value of doing things with ServiceNow, not just 1 departmental value. And I think that whole idea of being a solutions and business impact platform company is resonating big time internally and externally.

另外在定價方面，我也想再次說清楚：我們不是想把通膨壓力轉嫁給客戶。有很多新客戶，有更多新的客戶標誌，也有更多對我們平台的擴展。我們只想確保我們以高度專業的方式做事，並且知道我們的專業能力應該被如何定價與評價的區間。在這樣的評價與對客戶的業務影響之下，達成一個公平的協議。我們甚至設計了一套定價結構，讓客戶能與我們合作，從企業價值的角度來看與 ServiceNow 一起做事的價值，而不只是單一部門的價值。我認為，作為一家解決方案與業務影響平台公司的這個整體理念，正在內部與外部都引起非常強烈的共鳴。

And incidentally, if you're interested, we've done more than 100 deals right now on ServiceNow Impact. And what we're seeing is user adoption is speeding up, values being accelerated and customer net promoter and satisfaction is going through the moon. And as Gina said, the retention rates prove it that it's best in the business.

順帶一提，如果你有興趣，我們目前在 ServiceNow Impact 上已經做了超過 100 筆交易。我們看到的是使用者採用正在加速、價值正在加快實現，而客戶的淨推薦值與滿意度更是飆升。如同 Gina 所說，留存率也證明了這點——它是業界最佳。

We have time for 1 last question. Your last question comes from the line of Brad Zelnick with Deutsche Bank.

我們還有時間再問最後一個問題。最後一個問題來自德意志銀行的 Brad Zelnick。

Fantastic. What a fabulous start to the year guys. Congrats to you. Bill, I really wanted to ask about the new automation engine as part of the San Diego release. Can you remind us of your vision for RPA, what the interest level is and maybe the extent to which these are competitive stand-alone opportunities or more filling in the gaps of workflows that naturally are found on the Now Platform?

太棒了。今年開局非常精彩，各位恭喜。Bill，我很想請教 San Diego 版本發布中作為一部分的新自動化引擎。你能提醒我們你對 RPA 的願景、目前的興趣程度，以及這些在多大程度上是具競爭力的獨立機會，或是更多用來補齊 Now Platform 上工作流程中自然存在的缺口？

No, it's a really great question, Brad. Thank you very much. As you know, this idea of hyperautomation workflows on the Now Platform means a lot to our existing customers. So what they expect from ServiceNow is to remain that highly innovative unicorn that we have been, one that organically builds better, more substantial product experiences with every passing day. And in some cases, they want us to integrate with other tools in the marketplace. But in other cases, if we can build it and it's all integrated into the Now Platform, they would like ServiceNow to own all of that, and we give them choice.

不，這真的是個很棒的問題，Brad。非常感謝。如你所知，在 Now Platform 上的超自動化工作流程這個想法，對我們現有客戶意義重大。所以他們對 ServiceNow 的期待，是我們要持續成為那個高度創新的獨角獸——我們一直以來都是——每天都能有機地打造更好、更扎實的產品體驗。在某些情況下，他們希望我們能與市場上的其他工具整合。但在另一些情況下，如果我們能自己打造並且全部整合進 Now Platform，他們會希望 ServiceNow 擁有這一切，而我們也會給他們選擇。

And what you see here in this latest release, we brought together process mining, automation, machine learning, RPA and low-code app development into a seamless combined product experience. And now customers are going to be quickly innovating and improving the way work flows across the enterprise. So our job is to be helpful and integrate with all the market participants, especially when customers find that pleasing, but we also need to innovate ourselves and continue to build out this platform story in a way that's super compelling and it's generational. And that's why I said when I first came to ServiceNow, organic is delicious.

而你在這次最新版本中看到的是：我們把流程探勘、自動化、機器學習、RPA 與低程式碼應用開發整合成一個無縫的整體產品體驗。現在客戶將能快速創新並改善工作在整個企業中的流動方式。所以我們的工作是提供協助，並與所有市場參與者整合，特別是在客戶覺得這樣很好的時候；但我們也需要自我創新，持續把這個平台故事打造得非常有說服力、而且具有世代性。這也是為什麼我說，當我第一次來到 ServiceNow 時，有機成長很美味。

Look forward to seeing you out in Vegas next month.

期待下個月在拉斯維加斯見到你。

Thank you. Thank you very much. I look forward to spend some time together, Brad.

謝謝。非常感謝。我也期待能和你一起花點時間，Brad。

Thanks, Brad.

謝謝你，Brad。

And this is all the time we have for questions. This does conclude today's conference call. Thank you for joining. You may now disconnect.

我們的提問時間就到這裡。今天的電話會議到此結束。感謝各位參與。您現在可以掛線。