ServiceNow reported a blowout second quarter, with AI annual contract value (ACV) crossing $1 billion, accelerating more than 40% sequentially, while its security and risk business became the fastest-growing among the top 10 cybersecurity companies. Subscription revenue rose 23% year-over-year in constant currency to $3.877 billion, beating the high-end of guidance by 150 basis points. Current remaining performance obligations (CRPO) grew 21.5% constant currency, exceeding guidance by 200 basis points, and non-GAAP operating margin reached 29.5%, three points above expectations. CEO Bill McDermott declared "We are who we said we were," citing agentic AI in production up 9x over the past nine months and 123 deals worth more than $1 million in net new ACV. The company raised its full-year subscription revenue forecast to $15.755–$15.770 billion (21% constant currency growth) and operating margin to 31.5%. CFO Gina Mastantuono attributed about half of the Q2 beat to U.S. federal on-premise revenue pulled forward from Q3, but stressed net new ACV strength drove the guidance raise. First-time agentic AI buyers grew 45% year-over-year, and the integration of Armis and Veza is amplifying the core platform.