ServiceNow Secures 244 $1M+ Deals, Embeds Anthropic AI, Shares Slide 43%
ServiceNow closed Q4 2025 with 244 new contracts above $1M ACV (+40% YoY) and 603 customers above $5M ACV (+20% YoY). It embedded Anthropic’s Claude AI across core workflows and launched Autonomous Workforce and EmployeeWorks with Moveworks AI, while shares dropped 43.4% last year due to shutdown delays and margin headwinds.
1. Q4 Large-Deal Growth
ServiceNow exited Q4 2025 with 244 net new contracts above $1M in annual contract value, up 40% year-over-year, and 603 customers with over $5M ACV, up 20% YoY, underscoring strong enterprise demand for its workflow automation.
2. AI Integrations Expand Portfolio
In January 2026, the company embedded Anthropic’s Claude model across its core workflow platform and introduced Autonomous Workforce and EmployeeWorks in collaboration with Moveworks, bolstering its AI-driven automation suite.
3. Stock Performance and Challenges
ServiceNow’s shares have fallen 43.4% over the past year, pressured by U.S. government shutdown delays, gross margin headwinds from data center investments and a strategic shift to hyperscaler infrastructure.
4. Valuation and Outlook
The stock carries a Value Score of D with a forward price/sales multiple of 6.96X; consensus 2025 EPS is $4.13 per share, down 2.2% over the past month, reflecting cautious near-term earnings visibility.