Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>ServiceNow reported Q126 revenues of $3.67 billion, +3% QoQ and +22% YoY. Subscription revenue grew 19%, beating guidance. RPO came in at +21% CC, 100 basis points above guide.</li>
<li>Looking ahead, the company forecasted current quarter revenues marginally up QoQ to $3.8 billion, and up 22.5% YoY.</li>
<li>The share price tanked &gt;17% post-earnings. It's now down 48% over the past twelve months and trading roughly where it was at the trough of the 2022 rout. Interesting.. </li>
</ul>


ServiceNow reported Q126 revenues of $3.67 billion, +3% QoQ and +22% YoY. Subscription revenue grew 19%, beating guidance. RPO came in at +21% CC, 100 basis points above guide.
Looking ahead, the company forecasted current quarter revenues marginally up QoQ to $3.8 billion, and up 22.5% YoY.
The share price tanked &gt;17% post-earnings. It's now down 48% over the past twelve months and trading roughly where it was at the trough of the 2022 rout. Interesting.. 


ServiceNow Q126. Tanking On Not Very Much

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>ServiceNow delivered a strong second quarter of fiscal 2026, exceeding guidance across key financial and operational metrics.</li><li>Subscription revenues grew 23% year-over-year in constant currency to $3.877 billion, surpassing the high end of the company’s guidance by 150 basis points.</li><li>Remaining performance obligations (RPO) also showed robust growth, ending at approximately $29 billion, a 22% increase year-over-year on a constant currency basis, with current RPO rising 21.5%.</li></ul>

ServiceNow delivered a strong second quarter of fiscal 2026, exceeding guidance across key financial and operational metrics.Subscription revenues grew 23% year-over-year in constant currency to $3.877 billion, surpassing the high end of the company’s guidance by 150 basis points.Remaining performance obligations (RPO) also showed robust growth, ending at approximately $29 billion, a 22% increase year-over-year on a constant currency basis, with current RPO rising 21.5%.

ServiceNow Lifts 2026 Guidance to $15.77 Billion — Is AI Reacceleration Durable?

<ul><li>ServiceNow has become one of the most debated names in enterprise software because the market’s biggest fear may also be turning into its biggest catalyst.</li><li>For much of the recent software selloff, investors questioned whether artificial intelligence would weaken traditional SaaS platforms by reducing seats, automating workflows, and shifting budgets toward model providers.</li><li>The latest narrative around ServiceNow suggests a more complicated picture.</li></ul>

ServiceNow has become one of the most debated names in enterprise software because the market’s biggest fear may also be turning into its biggest catalyst.For much of the recent software selloff, investors questioned whether artificial intelligence would weaken traditional SaaS platforms by reducing seats, automating workflows, and shifting budgets toward model providers.The latest narrative around ServiceNow suggests a more complicated picture.

ServiceNow Is Turning AI Panic Into A Growth Story!

<ul><li>ServiceNow reported first quarter 2026 results that generally exceeded its guidance, underpinned by growth in subscription revenues, remaining performance obligations, and profitability metrics.</li><li>Subscription revenues grew 19% year-over-year in constant currency, reaching $3.671 billion, surpassing the high end of the company’s guidance.</li><li>Remaining performance obligations (RPO) ended at approximately $27.7 billion, showing a 23.5% increase year-over-year in constant currency.</li></ul>

ServiceNow reported first quarter 2026 results that generally exceeded its guidance, underpinned by growth in subscription revenues, remaining performance obligations, and profitability metrics.Subscription revenues grew 19% year-over-year in constant currency, reaching $3.671 billion, surpassing the high end of the company’s guidance.Remaining performance obligations (RPO) ended at approximately $27.7 billion, showing a 23.5% increase year-over-year in constant currency.

ServiceNow: Moveworks, Armis, and Veza Deals—A Bold AI Expansion Strategy Taking Shape!

<ul><li>ServiceNow is no longer presenting itself as a conventional software vendor riding the next AI cycle.</li><li>The more important shift is that management is increasingly framing the business as a control layer for enterprise execution, where artificial intelligence, data, workflows, governance, and security converge into one operating fabric.</li><li>That distinction matters because the market is actively reassessing where value will accrue in an AI-first stack.</li></ul>

ServiceNow is no longer presenting itself as a conventional software vendor riding the next AI cycle.The more important shift is that management is increasingly framing the business as a control layer for enterprise execution, where artificial intelligence, data, workflows, governance, and security converge into one operating fabric.That distinction matters because the market is actively reassessing where value will accrue in an AI-first stack.

The Silent Death Of SaaS: Is ServiceNow Building A $600 Billion Post-Software Empire?

United States

ServiceNow, Inc. provides enterprise information technology (IT) management software. The Company designs, develops, and produces prepackaged computer software, cloud services, and IT service management platform. ServiceNow serves customers throughout the United States.

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Servicenow Inc (NOW US)

ServiceNow Q126. Tanking On Not Very Much

ServiceNow share price tanked >17% post-earnings. It's now down 48% over the past twelve months and trading roughly where it was at the trough of...

William Keating

ServiceNow Lifts 2026 Guidance to $15.77 Billion — Is AI Reacceleration Durable?

ServiceNow delivered a strong second quarter of fiscal 2026, exceeding guidance across key financial and operational metrics. Subscription...

Baptista Research

ServiceNow Is Turning AI Panic Into A Growth Story!

ServiceNow has become one of the most debated names in enterprise software because the market’s biggest fear may also be turning into its biggest...

Baptista Research

ServiceNow: Moveworks, Armis, and Veza Deals—A Bold AI Expansion Strategy Taking Shape!

ServiceNow reported first quarter 2026 results that generally exceeded its guidance, underpinned by growth in subscription revenues, remaining...

Baptista Research

The Silent Death Of SaaS: Is ServiceNow Building A $600 Billion Post-Software Empire?

ServiceNow is no longer presenting itself as a conventional software vendor riding the next AI cycle. The more important shift is that management...

Baptista Research

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