capital · May 21, 2026

ServiceNow Reports 80 Percent Jump in Mega Deals and 44 Percent Free Cash Flow Margin After $7.75 Billion Armis Acquisition

ServiceNow reported an 80 percent jump in mega deals and a 44 percent free cash flow margin in recent quarters. The company completed the $7.75 billion acquisition of Armis and integrated the Moveworks acquisition into EmployeeWorks which generated more sales in its first quarter than Moveworks achieved independently in the prior full year. ServiceNow acquired Veza bringing patented Access Graph technology monitoring 30 billion permission parameters in real time. The firm spends 50 to 60 percent of its engineering budget on security compliance and hardening with 90 percent of deployments occurring through partners.