Current Remaining Performance Obligations (RPO) ended at approximately $23.9 billion, representing 25.5% year-over-year constant currency growth.
Free cash flow margin was 16.5%, up 3% year-over-year, with a strong balance sheet including $10.8 billion in cash and investments.
Operating margin was 29.5%, over 2.5 points above guidance, driven by top line outperformance and AI operational efficiencies.
Renewal rate remained robust at 98%, underscoring ServiceNow's strategic importance as an AI platform for business transformation.
ServiceNow reported Q2 subscription revenues of $3.113 billion, growing 21.5% year-over-year in constant currency, beating guidance by 200 basis points.
Strong growth was seen across industries, notably transportation and logistics (100%+ growth), technology, media and telecom (70%+ growth), retail and hospitality, and energy & utilities (50%+ growth).
The company closed 89 deals greater than $1 million in net new ACV, including 11 deals over $5 million, with 528 customers generating over $5 million in ACV.
ADTRAN reported Q2 2025 revenue of $265.1 million, up 17% year-over-year and 7% sequentially, exceeding the high end of guidance.
All three revenue categories—Optical Networking Solutions, Access and Aggregation, and Subscriber Solutions—showed sequential and year-over-year growth.
Days sales outstanding improved to 57 days from 60 days, and days inventory outstanding decreased by 17 days to 135 days.
Net working capital improved by $21.7 million sequentially to $226.6 million, driven by inventory reduction and stronger collections.
Non-GAAP gross margin was 41.4%, slightly down quarter-over-quarter due to product mix and higher transportation costs, with a long-term target of 42-43%.
Non-GAAP net loss was $256,000 or $0.00 per share, compared to net income of $0.03 per share in Q1 2025 and a net loss of $0.13 per share in Q2 2024.
Non-GAAP operating profit was $8 million or 3% of revenue, above the midpoint of guidance, compared to $9.8 million (3.9%) in Q1 2025 and $1.4 million (0.6%) in Q2 2024.
Operating cash flow was $32.2 million and free cash flow was $18.3 million, with cash and equivalents increasing to $106.3 million.
Operating expenses increased due to currency fluctuations and higher sales commissions.
Optical Networking Solutions revenue grew 22% year-over-year to $90.1 million, Access and Aggregation grew 30% year-over-year to $91.2 million, and Subscriber Solutions increased 2% year-over-year to $83.8 million.
Dafinchi