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ServiceNow Reports Financial Results for Fourth Quarter and Fiscal Year 2013

ServiceNow® (NYSE: NOW), the enterprise IT cloud company, today announced its financial results for its fourth quarter and fiscal year 2013.

Fourth quarter 2013 results:

  • Revenues of $125.2 million, an increase of 67% compared to the fourth quarter of 2012, and an increase of 13% from the third quarter of 2013.
  • GAAP net loss of $24.2 million, or a loss of $0.17 per basic and diluted share, compared to a GAAP net loss of $9.9 million, or a loss of $0.08 per basic and diluted share, in the fourth quarter of 2012.
  • Non-GAAP net loss of $3.0 million, or loss of $0.02 per basic and diluted share, compared to a non-GAAP net loss of $0.6 million, or $0.00 per basic and diluted share, in the fourth quarter of 2012 (see the table entitled "Results of Operations GAAP to Non-GAAP Reconciliation” for a reconciliation of these GAAP and non-GAAP financial measures).
  • Deferred revenue of $266.7 million, an 18% increase over the $225.8 million reported at the end of the prior quarter.
  • Billings were $166.2 million, a 70% increase over the $97.6 million in the same period last year, and a 31% increase over the $127.0 million reported in the previous quarter (see the table entitled “Non-GAAP Billings Reconciliation” for a reconciliation of non-GAAP billings to GAAP revenues).
  • Backlog of $608.4 million, a 61% increase over the $379.0 million reported at the end of 2012. Backlog represents future amounts to be invoiced under our agreements and is not included in deferred revenue. Backlog and deferred revenue combined totaled $875.1 million.

Fiscal 2013 results:

  • Revenues of $424.7 million, an increase of 74% compared to the prior year.
  • A GAAP net loss of $73.7 million, or a loss of $0.54 per basic and diluted share, compared to a GAAP net loss of $37.3 million, or a loss of $0.51 per basic and diluted share, in the prior year.
  • A non-GAAP net loss of $11.0 million, or a loss of $0.08 per basic and diluted share, compared to non-GAAP net loss of $9.7 million, or a loss of $0.14 per basic and diluted share, in the prior year (see the table entitled "Results of Operations GAAP to Non-GAAP Reconciliation" for a reconciliation of these GAAP and non-GAAP financial measures).
  • Billings were $521.0 million, a 68% increase over the $309.4 million reported in the prior year (see the table entitled “Non-GAAP Billings Reconciliation” for a reconciliation of non-GAAP billings to GAAP revenues).

“ServiceNow grew revenues 67% year-over-year in the fourth quarter, a strong finish to a year in which we grew revenues by 74% and added 549 customers, bringing our cumulative customer count to over 2,060 worldwide,” said Frank Slootman, president and chief executive officer, ServiceNow. “During the quarter we also achieved a 96% customer renewal rate, continued to penetrate our installed base with upsells comprising 36% of our total annual contract value signed during the quarter and announced several important product additions.”

“In the fourth quarter we set a company record for billings of $166 million and exited the year with a combined deferred revenue and backlog balance of $875 million, up 59% over the prior year,” added Michael Scarpelli, chief financial officer, ServiceNow. “We also generated $20 million in free cash flows and raised net proceeds of $512 million from our convertible debt offering at a 0% coupon, ending 2013 with $890 million in cash and investments.”

Financial Outlook

The non-GAAP financial guidance discussed below excludes stock-based compensation expense and the related income tax effect of these adjustments (see table which reconciles these non-GAAP financial measures to the related GAAP measures). Negative numbers are shown in parentheses.

For the first quarter of 2014, we expect:

  • Total revenues between $133 and $135 million, representing year-over-year growth between 55% and 57%. Our total first quarter revenue estimate consists of subscription revenues between $112 and $113 million and professional services and other revenues between $21 and $22 million.
  • Subscription gross margin of approximately 76%, professional services and other gross margin of approximately 6% and overall gross margin of approximately 64%.
  • Operating margin of approximately (9%).

For the full year 2014, we expect total revenues to be in the range of $640 to $645 million, representing year-over-year growth between 51% and 52%. Our total annual revenues estimate consists of subscription revenues between $533 and $535 million and professional services and other revenues between $107 and $110 million.

Updates since our last earnings release

  • ServiceNow issued $575 million aggregate principal amount of 0% convertible senior notes due 2018. The offering generated proceeds of $512 million, net of offering costs, costs of the related bond hedge and proceeds from warrants.
  • Charles Giancarlo joined the board of directors as a ninth member in an additional seat the company has added.
  • ServiceNow HR Service Automation was introduced as a new application that makes it easier for organizations to automate HR case management.
  • ServiceNow Configuration Automation was introduced as a new orchestration application that controls automated configuration of data center infrastructure based on the ServiceNow Configuration Management Database (CMDB).
  • ServiceNow and customer-created applications are made instantly mobile on devices such as iPhones, iPads and Android smartphones and tablets with the latest ServiceNow release.
  • ServiceNow Vendor Performance Management was introduced as a new application to help users derive more value from vendors and suppliers by evaluating performance relative to commitments and comparing vendors to each other across common criteria.
  • ServiceNow Resource Management was introduced as a new application to help forecast all IT work and resources reliably through a real-time, single system of record for efficient, accurate resource utilization.
  • ServiceNow Automated Password Reset was introduced as a new application providing end users with the ability to reset passwords through self-service and automation and reduce what industry analysts consider to be at least 20% of IT service requests.
  • ServiceNow was awarded “SaaS Product of the Year” from Techworld.

Conference Call Details

The conference call will begin at 2:00 p.m. Pacific Time (22:00 GMT) on Wednesday, January 29, 2014. Interested parties may listen to the call by dialing 866.700.6067 (passcode: 75988250), or if outside North America, by dialing 617.213.8834 (passcode: 75988250). Individuals may access the live teleconference from the investor relations section of the ServiceNow website at http://investors.servicenow.com.

An audio replay of the conference call and webcast will be available two hours after its completion and will be accessible for 30 days. To hear the replay, interested parties may go to the investor relations section of the ServiceNow website or dial 888.286.8010 (passcode: 48173227), or if outside North America, by dialing 617.801.6888 (passcode: 48173227).

Statement regarding use of non-GAAP financial measures

The company reports non-GAAP results for gross margins, operating margins, net income or loss, basic and diluted income or loss per share, free cash flow and billings in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.

The company’s financial measures under GAAP include stock-based compensation expense, the amortization of debt discount and issuance costs related to the convertible senior notes, and the related income tax effect of these adjustments. Management believes the presentation of operating results that excludes these items provides useful supplemental information to investors and facilitates the analysis of the company’s core operating results and comparison of operating results across reporting periods. Management also believes that this supplemental non-GAAP information is therefore useful to investors in analyzing and assessing the company’s past and future operating performance.

Free cash flow, which is a non-GAAP financial measure, is calculated as GAAP net cash provided by operating activities reduced by purchases of property and equipment. Management believes information regarding free cash flow provides investors with an important perspective on the cash available to invest in our business and fund ongoing operations. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.

Billings is calculated as revenue plus the change in total deferred revenue. Management believes billings offers investors useful supplemental information regarding the performance of our business, and will help investors better understand the sales volumes and performance of our business.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in the tables of this release.

Use of forward looking statements

This release contains “forward-looking statements” regarding our performance, including in the section entitled “Financial Outlook.” Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.

Among the important factors that could cause actual results to differ materially from those in any forward-looking statements are: (i) errors, interruptions, delays, or security breaches in or of our service or web hosting, (ii) our ability to grow at our expected rate of growth, including our ability to convert deferred revenue and backlog into revenue, add and retain customers, and enter new geographies and markets, (iii) our ability to continue to release, and gain customer acceptance of, improved versions of our services, (iv) our ability to develop and gain customer acceptance of new products and services, including our platform, and (v) our ability to compete successfully against existing and new competitors.

Further information on these and other factors that could affect our financial results are included in our Form 10-K for the year ended December 31, 2012 and in other filings we make with the Securities and Exchange Commission from time to time, including our Form 10-K that will be filed for the fiscal year ended December 31, 2013.

We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current financial quarter.

About ServiceNow

ServiceNow is the enterprise IT cloud company. We transform IT by automating and managing IT service relationships across the global enterprise. Organizations deploy our service to create a single system of record for IT and automate manual tasks, standardize processes and consolidate legacy systems. Using our extensible platform, our customers create custom applications and evolve the IT service model to service domains inside and outside the enterprise. ServiceNow transforms IT from the department of no to the department of now. For more information, visit www.servicenow.com.

ServiceNow and the ServiceNow logo are registered trademarks of ServiceNow. All other brand and product names are trademarks or registered trademarks of their respective holders.

ServiceNow, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
       
Three Months Ended Twelve Months Ended
December 31, December 31, December 31, December 31,
2013 2012 2013 2012
 
Revenues:
Subscription $ 104,878 $ 62,886 $ 349,804 $ 204,526
Professional services and other   20,352     12,276     74,846     39,186  
Total revenues   125,230     75,162     424,650     243,712  
Cost of revenues (1):
Subscription 25,968 20,076 87,928 63,258
Professional services and other   19,410     12,232     67,331     40,751  
Total cost of revenues   45,378     32,308     155,259     104,009  
Gross profit   79,852     42,854     269,391     139,703  
Operating expenses (1):
Sales and marketing 57,337 29,481 195,190 103,837
Research and development 23,869 13,235 78,678 39,333
General and administrative   18,007     9,676     61,790     34,117  
Total operating expenses   99,213     52,392     335,658     177,287  
Loss from operations (19,361 ) (9,538 ) (66,267 ) (37,584 )
Interest and other income (expense), net   (4,326 )   456     (4,930 )   1,604  
Loss before provision for income taxes (23,687 ) (9,082 ) (71,197 ) (35,980 )
Provision for income taxes   545     849     2,511     1,368  
Net loss $ (24,232 ) $ (9,931 ) $ (73,708 ) $ (37,348 )

Net loss attributable to common stockholders - Basic and Diluted

$ (24,232 ) $ (9,931 ) $ (73,708 ) $ (37,656 )

Net loss per share attributable to common stockholders - Basic and Diluted

$ (0.17 ) $ (0.08 ) $ (0.54 ) $ (0.51 )

Weighted-average shares used to compute net loss per share attributable to common stockholders - Basic and Diluted

  139,508,838     124,000,655     135,415,809     73,908,631  
                 
(1) Includes total stock-based compensation expense as follows:
Three Months Ended Year Ended
December 31, December 31, December 31, December 31,
2013 2012 2013 2012
Cost of revenues:
Subscription $ 2,454 $ 1,415 $ 8,434 $ 3,929
Professional services and other 1,654 610 4,749 1,574
Sales and marketing 6,857 3,337 21,609 10,189
Research and development 5,218 2,375 16,223 6,496
General and administrative 4,673 1,612 14,566 5,749
                 
 

ServiceNow, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
   
December 31, 2013 December 31, 2012
ASSETS (Unaudited)
Current assets:
Cash and cash equivalents $ 366,303 $ 118,989
Short-term investments 268,251 195,702
Accounts receivable, net 108,339 78,163
Current portion of deferred commissions 31,123 14,979
Prepaid expenses and other current assets   23,733   14,256
Total current assets 797,749 422,089
Deferred commissions, less current portion 21,318 11,296
Long-term investments 255,356
Property and equipment, net 75,560 42,342
Intangible assets, net 5,796 596
Goodwill 8,724
Other assets   3,973   1,791
Total assets $ 1,168,476 $ 478,114
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 7,405 $ 9,604
Accrued expenses and other current liabilities 68,130 48,059
Current portion of deferred revenue   252,553   153,964
Total current liabilities 328,088 211,627
Deferred revenue, less current portion 14,169 16,397
Convertible senior notes, net 414,777
Other long-term liabilities 17,183 6,685
Stockholders’ equity   394,259   243,405
Total liabilities and stockholders’equity $ 1,168,476 $ 478,114
 

ServiceNow, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
       
Three Months Ended Year Ended
December 31, December 31, December 31, December 31,
2013 2012 2013 2012
 
Cash flows from operating activities:
Net loss $ (24,232 ) $ (9,931 ) $ (73,708 ) $ (37,348 )

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization 7,874 4,664 24,152 13,506
Amortization of premiums on investments 1,317 743 4,758 1,337
Amortization of deferred commissions 9,539 4,446 29,364 13,710
Amortization of debt discount and issuance costs 3,498 3,498
Stock-based compensation 20,856 9,349 65,581 27,937
Tax benefit from employee stock plans 159 (1,161 ) (1,658 ) (1,694 )
Deferred income tax (231 ) (746 ) (231 ) (746 )
Other (716 ) (219 ) 558 2,850
Changes in operating assets and liabilities:
Accounts receivable (22,518 ) (22,276 ) (29,506 ) (33,341 )
Deferred commissions (20,049 ) (8,650 ) (54,943 ) (29,175 )
Prepaid expenses and other assets 2,394 (7,111 ) 3,471 (2,904 )
Accounts payable 156 4,993 (252 ) 4,887
Deferred revenue 40,073 21,764 94,405 64,845
Accrued expenses and other liabilities   18,147     20,806     16,257     24,902  
Net cash provided by operating activities   36,267     16,671     81,746     48,766  
Cash flows from investing activities:
Purchases of property and equipment (16,262 ) (9,910 ) (55,321 ) (42,066 )
Acquisition, net of cash acquired (13,330 )
Purchases of investments (337,235 ) (93,704 ) (570,679 ) (240,626 )
Sale of investments 4,755 55,158 1,025

Maturities of investments (1)

39,098 36,673 181,554 42,473
Restricted cash   (3 )   37     (177 )   45  
Net cash used in investing activities   (309,647 )   (66,904 )   (402,795 )   (239,149 )
Cash flows from financing activities:
Net proceeds from initial public offering (15 ) 169,784

Net proceeds from (offering costs paid in connection to) follow-on offering

50,561 (698 ) 50,561
Net proceeds from borrowings on convertible senior notes 562,941 562,941
Proceeds from issuance of warrants 84,525 84,525
Purchase of convertible note hedge (135,815 ) (135,815 )
Proceeds from employee stock plans 8,126 539 55,959 3,912
Tax benefit from employee stock plans (159 ) 1,161 1,658 1,694
Net proceeds from issuance of common stock 17,848
Purchases of common stock from stockholders               (1,960 )
Net cash provided by financing activities   519,618     52,246     568,570     241,839  
Foreign currency effect on cash and cash equivalents   (1,029 )       (207 )   (555 )
Net increase in cash and cash equivalents 245,209 2,013 247,314 50,901
Cash and cash equivalents at beginning of period   121,094     116,976     118,989     68,088  
Cash and cash equivalents at end of period $ 366,303   $ 118,989   $ 366,303   $ 118,989  
 
Calculation of free cash flows (a non-GAAP measure):
Net cash provided by operating activities $ 36,267 $ 16,671 $ 81,746 $ 48,766
Purchases of property and equipment   (16,262 )   (9,910 )   (55,321 )   (42,066 )
Free cash flows $ 20,005   $ 6,761   $ 26,425   $ 6,700  
 
                   

(1)

During the year ended December 31, 2013, maturities of investments includes the effect of the correction of an immaterial error of $3.0 million related to securities that were improperly classified as short-term investments instead of cash and cash equivalents as of December 31, 2012.
 

ServiceNow, Inc.
Results of Operations GAAP to Non-GAAP Reconciliation
(in thousands except share and per share data)
(Unaudited)
           
Three Months Ended
December 31, 2013 December 31, 2012
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
Reconciliation of gross profit:
Revenues:
Subscription $ 104,878

$

$ 104,878 $ 62,886 $ $ 62,886
Professional services and other   20,352         20,352     12,276         12,276  
Total revenues   125,230         125,230     75,162         75,162  
Cost of revenues (1):
Subscription 25,968 (2,454 ) 23,514 20,076 (1,415 ) 18,661
Professional services and other   19,410     (1,654 )   17,756     12,232     (610 )   11,622  
Total cost of revenues   45,378     (4,108 )   41,270     32,308     (2,025 )   30,283  
Gross profit:
Subscription 78,910 2,454 81,364 42,810 1,415 44,225
Professional services and other   942     1,654     2,596     44     610     654  
Total gross profit $ 79,852   $ 4,108   $ 83,960   $ 42,854   $ 2,025   $ 44,879  
 
Reconciliation of operating expenses:
Operating expenses (1):
Sales and marketing $ 57,337 $ (6,857 ) $ 50,480 $ 29,481 $ (3,337 ) $ 26,144
Research and development 23,869 (5,218 ) 18,651 13,235 (2,375 ) 10,860
General and administrative   18,007     (4,673 )   13,334     9,676     (1,612 )   8,064  
Total operating expenses $ 99,213   $ (16,748 ) $ 82,465   $ 52,392   $ (7,324 ) $ 45,068  
 
Reconciliation of loss from operations, provision for income taxes, net loss, net loss per share, and pro forma net loss per share:
Loss from operations $ (19,361 ) $ 20,856 $ 1,495 $ (9,538 ) $ 9,349 $ (189 )

Interest and other income (expense), net (2)

  (4,326 )   3,498     (828 )   456         456  
Loss before provision for income taxes $ (23,687 ) $ 24,354 $ 667 $ (9,082 ) $ 9,349 $ 267
Provision for income taxes (1) (2)   545     3,087     3,632     849     32     881  
Net loss $ (24,232 ) $ 21,267   $ (2,965 ) $ (9,931 ) $ 9,317   $ (614 )

Net loss attributable to common stockholders - Basic and Diluted

$ (24,232 ) $ 21,267   $ (2,965 ) $ (9,931 ) $ 9,317   $ (614 )

Net loss per share attributable to common stockholders - Basic and Diluted

$ (0.17 ) $ 0.15   $ (0.02 ) $ (0.08 ) $ 0.08   $ (0.00 )

Weighted-average shares used to compute net loss per share attributable to common stockholders - Basic and Diluted

  139,508,838         139,508,838     124,000,655         124,000,655  
                         

(1) Adjustments include stock-based compensation and the related tax effect.

(2) Adjustments include amortization of debt discount and issuance costs for the convertible senior notes and the related tax effect.
 

ServiceNow, Inc.
Results of Operations GAAP to Non-GAAP Reconciliation
(in thousands except share and per share data)
(Unaudited)
           
Year Ended
December 31, 2013 December 31, 2012
GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP
Reconciliation of gross profit:
Revenues:
Subscription $ 349,804 $ $ 349,804 $ 204,526 $ $ 204,526
Professional services and other   74,846         74,846     39,186         39,186  
Total revenues   424,650         424,650     243,712         243,712  
Cost of revenues (1):
Subscription 87,928 (8,434 ) 79,494 63,258 (3,929 ) 59,329
Professional services and other   67,331     (4,749 )   62,582     40,751     (1,574 )   39,177  
Total cost of revenues   155,259     (13,183 )   142,076     104,009     (5,503 )   98,506  
Gross profit:
Subscription 261,876 8,434 270,310 141,268 3,929 145,197
Professional services and other   7,515     4,749     12,264     (1,565 )   1,574     9  
Total gross profit $ 269,391   $ 13,183   $ 282,574   $ 139,703   $ 5,503   $ 145,206  
 
Reconciliation of operating expenses:
Operating expenses (1):
Sales and marketing $ 195,190 $ (21,609 ) $ 173,581 $ 103,837 $ (10,189 ) $ 93,648
Research and development 78,678 (16,223 ) 62,455 39,333 (6,496 ) 32,837
General and administrative   61,790     (14,566 )   47,224     34,117     (5,749 )   28,368  
Total operating expenses $ 335,658   $ (52,398 ) $ 283,260   $ 177,287   $ (22,434 ) $ 154,853  
 
Reconciliation of loss from operations, interest and other income (expense) net, provision for income taxes, net loss, and net loss per share:
Loss from operations $ (66,267 ) $ 65,581 $ (686 ) $ (37,584 ) $ 27,937 $ (9,647 )
Interest and other income (expense), net (2)   (4,930 )   3,498     (1,432 )   1,604         1,604  
Loss before provision for income taxes $ (71,197 ) $ 69,079 $ (2,118 ) $ (35,980 ) $ 27,937 $ (8,043 )
Provision for income taxes (1) (2)   2,511     6,400     8,911     1,368     332     1,700  
Net loss $ (73,708 ) $ 62,679   $ (11,029 ) $ (37,348 ) $ 27,605   $ (9,743 )

Net loss attributable to common stockholders - Basic and Diluted

$ (73,708 ) $ 62,679   $ (11,029 ) $ (37,656 ) $ 27,605   $ (10,051 )

Net loss per share attributable to common stockholders - Basic and Diluted

$ (0.54 ) $ 0.46   $ (0.08 ) $ (0.51 ) $ 0.37   $ (0.14 )

Weighted-average shares used to compute net loss per share attributable to common stockholders - Basic and Diluted

  135,415,809         135,415,809     73,908,631         73,908,631  
                         
(1) Adjustments include stock-based compensation and the related tax effect.
(2) Adjustments include amortization of debt discount and issuance costs for the convertible senior notes and the related tax effect.
 

ServiceNow, Inc.
Non-GAAP Billings Reconciliation
(in thousands)
(Unaudited)
         
Three Months Ended Year Ended
December 31, September 30, December 31, December 31, December 31,
2013 2013 2012 2013 2012
Total revenues $ 125,230 $ 111,259 $ 75,162 $ 424,650 $ 243,712
Deferred revenue, end of period 266,722 225,801 170,361 266,722 170,361
Less: deferred revenue, beginning of period   225,801   210,040   147,946   170,361   104,636
Billings $ 166,151 $ 127,020 $ 97,577 $ 521,011 $ 309,437
 

ServiceNow, Inc.
Reconciliation of Non-GAAP Financial Guidance
 
The financial guidance provided below is an estimate based on information available as of January 29, 2014. The company’s future performance and financial results are subject to risks and uncertainties, and actual results could differ materially from the guidance set forth below. Some of the factors that could affect the company’s financial results are stated above in this press release. More information on potential factors that could affect the company’s financial results is included from time to time in the company’s public reports filed with the SEC, including the company's Annual Report on Form 10-K filed on March 8, 2013, the company's Form 10-Q for the quarter ended September 30, 2013 filed on November 4, 2013 and the company's Form 10-K for the year ended December 31, 2013 to be filed with the SEC. The company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Three Months Ended
March 31, 2014
 
Non-GAAP subscription gross margin 76%
 
Stock-based compensation expense (4%)
 
GAAP subscription gross margin 72%
 
Non-GAAP professional services and other gross margin 6%
 
Stock-based compensation expense (10%)
 
GAAP professional services and other gross margin (4%)
 
Non-GAAP total gross margin 64%
 
Stock-based compensation expense (4%)
 
GAAP total gross margin 60%
 
Non-GAAP operating margin (9%)
 
Stock-based compensation expense (21%)
 
GAAP operating margin (30%)

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When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...