ServiceNow vs UiPath: Revenue, Profit and Business Model
ServiceNow reported $13.3B of revenue in FY2026 and $1.7B of net income. UiPath reported $1.6B of revenue in FY2026 and $282.3M of net income.
Latest financial snapshot
ServiceNow
- Latest revenue
- $13.3B (FY2026)
- Net income
- $1.7B
- Net margin
- 13.2%
- Revenue growth
- +25.3% a year, FY2016–FY2026
UiPath
- Latest revenue
- $1.6B (FY2026)
- Net income
- $282.3M
- Net margin
- 17.5%
- Revenue growth
- +29.8% a year, FY2020–FY2026
Financial summary
ServiceNow
ServiceNow grows by landing in IT and expanding into more departments. Revenue rose from $1.39 billion in 2016 to $13.278 billion in 2025, and the company has been GAAP profitable since 2019 apart from a small 2018 loss. 2025 brought $1.824 billion in GAAP operating income, $1.748 billion in net income and $4.636 billion in free cash flow. Growth sped up in 2026: Q2 2026 subscription revenue rose 24.5% to $3.877 billion, helped by the Armis deal, and management raised its full-year subscription outlook. In January 2026 the board added $5 billion to the share buyback program.
UiPath
UiPath's revenue grew from $607.6 million in fiscal 2021 to $1.611 billion in fiscal 2026. After years of GAAP losses, it reported net income of $282 million in fiscal 2026. In the second quarter of fiscal 2027 revenue was $410 million, up 13%, and it was the company's fourth straight GAAP-profitable quarter.
Revenue and profit by year
ServiceNow
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $13.3B | $1.7B | 13.2% | +0.0% | |
| FY2025 | $13.3B | $1.7B | 13.2% | +20.9% | Source |
| FY2024 | $11B | $1.4B | 13.0% | +22.4% | Source |
| FY2023 | $9B | $1.7B | 19.3% | +23.8% | Source |
| FY2022 | $7.2B | $325M | 4.5% | +22.9% | Source |
| FY2021 | $5.9B | $230M | 3.9% | +30.5% | Source |
| FY2020 | $4.5B | $119M | 2.6% | +30.6% | Source |
| FY2019 | $3.5B | $626.7M | 18.1% | +32.6% | Source |
| FY2018 | $2.6B | -$26.7M | -1.0% | +35.0% | Source |
| FY2017 | $1.9B | -$116.8M | -6.0% | +39.0% | Source |
| FY2016 | $1.4B | -$414.2M | -29.8% | — | Source |
UiPath
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $1.6B | $282.3M | 17.5% | +12.7% | Source |
| FY2025 | $1.4B | -$73.7M | -5.2% | +9.3% | Source |
| FY2024 | $1.3B | -$89.9M | -6.9% | +23.6% | Source |
| FY2023 | $1.1B | -$328.4M | -31.0% | +18.6% | Source |
| FY2022 | $892.3M | -$525.6M | -58.9% | +46.8% | Source |
| FY2021 | $607.6M | -$92.4M | -15.2% | +80.8% | Source |
| FY2020 | $336.2M | -$519.9M | -154.7% | — | Source |
Where the revenue comes from
ServiceNow
- Subscription revenue from the Now Platform (about 97% of 2025 revenue)
- Technology workflows: ITSM, ITOM, IT asset management
- Security and risk, including Armis and Veza
- Customer, CRM and industry workflows
- Employee workflows and Moveworks
- Creator workflows and App Engine
- Professional services and training
UiPath
No segment breakdown is published.
Business model and strategy
ServiceNow
How it makes money
ServiceNow makes money by selling multi-year subscriptions to the Now Platform, its single cloud platform with a shared data model and CMDB. Subscription revenue was $12.883 billion of $13.278 billion in 2025 revenue, about 97%; the remainder is professional services and training.
Growth strategy
ServiceNow is growing on three fronts: selling more AI (Now Assist, AI agents, the Otto assistant and AI Control Tower), getting bigger in security and risk through Armis and Veza, and pushing CRM, customer service and industry workflows into accounts where it already runs IT.
Competitive advantage
ServiceNow's advantage comes from one codebase and one data model that spans IT, HR, customer service and security workflows. Once the CMDB and custom App Engine apps are in place, replacing the platform means rebuilding years of configuration, which supports high renewal rates. Scale also matters: 658 customers paid more than $5 million in annual contract value as of June 30, 2026.
UiPath
How it makes money
UiPath sells its automation platform mainly on a recurring basis. Revenue comes from term software licenses, cloud and maintenance subscriptions, and a smaller professional services line. Customers pay for robots, developer and user seats, orchestration, and AI capabilities such as document processing and agents. The company tracks annual recurring revenue (ARR) as its main operating metric.
Growth strategy
UiPath is positioning its platform as an orchestration layer that coordinates AI agents, deterministic software robots and human approvals inside regulated business processes. It has added industry-specific capabilities through acquisitions, including Peak for AI-driven pricing and inventory decisions in 2025 and WorkFusion for financial crime compliance agents in 2026.
Competitive advantage
A large base of enterprise automation customers and a single platform that combines robots, agents, process discovery and governance.
Questions about ServiceNow vs UiPath
Which company has higher revenue — ServiceNow, Inc. or UiPath?
ServiceNow, Inc. reported $13.3B (FY2026), while UiPath reported $1.6B (FY2026). By last reported revenue, ServiceNow, Inc. is the larger business, with UiPath reporting a smaller revenue base.
What is the market cap of ServiceNow, Inc. vs UiPath?
ServiceNow, Inc.'s market capitalisation stands at $134.3B, while UiPath's is $7.2B. ServiceNow, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to UiPath.
Which is more financially efficient — ServiceNow, Inc. or UiPath?
ServiceNow, Inc. generates $455k / employee in revenue per employee, while UiPath generates $416k / employee. ServiceNow, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do ServiceNow, Inc. and UiPath make money?
ServiceNow, Inc. and UiPath generate revenue in fundamentally different ways. ServiceNow, Inc.: ServiceNow makes money by selling multi-year subscriptions to the Now Platform, its single cloud platform with a shared data model and CMDB. UiPath: UiPath sells its automation platform mainly on a recurring basis.
Which company is valued higher relative to revenue — ServiceNow, Inc. or UiPath?
On a price-to-sales (P/S) basis, ServiceNow, Inc. trades at 10.1x P/S and UiPath at 4.5x P/S. ServiceNow, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to UiPath. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is ServiceNow, Inc. bigger than UiPath?
By last reported revenue, ServiceNow, Inc. ($13.3B (FY2026)) is the larger company compared to UiPath ($1.6B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the ServiceNow vs UiPath overview