CrowdStrike vs. ServiceNow: Comparing Revenue Trends Between These Growing Software Giants
Key Points
ServiceNow currently generates higher overall revenue than CrowdStrike, establishing a clear lead in each of the past eight quarters while both operations steadily scale their top-line results in a predictable upward trajectory.
Both organizations demonstrated steady quarter-over-quarter revenue growth without experiencing sequential downturns over the last eight quarters.
Investors analyzing these revenue trends should watch whether the revenue gap between the two companies widens over time or if their respective growth patterns start to converge.
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CrowdStrike: Generating Steady Sequential Revenue Increases
CrowdStrike (NASDAQ:CRWD) primarily generates revenue by selling comprehensive long-term subscriptions to its diverse cloud-native cybersecurity software modules, distributing these proactive threat intelligence offerings to large global enterprises through an internal direct sales force and extensive external partner networks.
It formally introduced new artificial intelligence threat detection tools to its main security software suite on September 1, 2026, and it subsequently expanded its overall operational availability by joining several major external cloud computing infrastructure marketplaces.
ServiceNow: Delivering Consistent Sequential Revenue Gains
ServiceNow (NYSE:NOW) primarily generates revenue by delivering subscription-based cloud workflow automation applications to global enterprises, helping large multinational clients systematically streamline their internal information technology processes, human resources functions, and complex daily customer service operations.
It officially launched a newly developed conversational artificial intelligence service desk tool for its enterprise users on October 1, 2026, and it concurrently opened its very first corporate office in Brazil to support ongoing international market development.
Why Revenue Matters for Investors
Revenue helps investors evaluate the total money a business collects from its core operational activities during a given period before subtracting any operating expenses. This metric reveals whether an organization is successfully attracting customers and growing its overall business volume over time.
CrowdStrike vs. ServiceNow Revenue over the last 8 quarters.
Comparing Quarterly Revenue Trends for CrowdStrike and ServiceNow
| Calendar quarter | CrowdStrike Revenue | ServiceNow Revenue |
|---|---|---|
| Q3 2024 | $1.0 billion (quarter ended Oct. 31, 2024) | $2.8 billion (quarter ended Sept. 30, 2024) |
| Q4 2024 | $1.1 billion (quarter ended Jan. 31, 2025) | $3.0 billion (quarter ended Dec. 31, 2024) |
| Q1 2025 | $1.1 billion (quarter ended April 30, 2025) | $3.1 billion (quarter ended March 31, 2025) |
| Q2 2025 | $1.2 billion (quarter ended July 31, 2025) | $3.2 billion (quarter ended June 30, 2025) |
| Q3 2025 | $1.2 billion (quarter ended Oct. 31, 2025) | $3.4 billion (quarter ended Sept. 30, 2025) |
| Q4 2025 | $1.3 billion (quarter ended Jan. 31, 2026) | $3.6 billion (quarter ended Dec. 31, 2025) |
| Q1 2026 | $1.4 billion (quarter ended April 30, 2026) | $3.8 billion (quarter ended March 31, 2026) |
| Q2 2026 | $1.5 billion (quarter ended July 31, 2026) | $4.0 billion (quarter ended June 30, 2026) |
Data source: Financial Modeling Prep. Data as of Oct. 13, 2026.
Foolish Take
The revenue trends for CrowdStrike and ServiceNow highlight the strength of their distinct software offerings. Both have maintained a consistent upward sales trajectory, a sign that they are able to attract and retain customers.
CrowdStrike benefits from operating in the cybersecurity sector, a recession-resilient industry since customers must constantly maintain protection from the ever-present threat of a cyberattack. Its revenue growth led to a profitable 2026, as the company delivered net income of $51.3 million in the first half of its fiscal year, ended July 31, compared to a net loss of $175.2 million in the prior year. Even so, CrowdStrike's stock sports a high valuation with a forward earnings multiple of 195.
ServiceNow has not only generated top-line growth, that increase has been coupled with a profitable business. In the first half of 2026, the company produced net income of $767 million, yet its stock's forward earnings multiple sits at 36.5, making ServiceNow a financially strong company with a far more attractive valuation compared to CrowdStrike.
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Robert Izquierdo has positions in CrowdStrike and ServiceNow. The Motley Fool has positions in and recommends CrowdStrike and ServiceNow. The Motley Fool has a disclosure policy.
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