Incumbent AI Monetization Is Working at Scale: ServiceNow Now Assist >$1M ACV Customers Grew 130% YoY

SEC / ServiceNow 8-K·medium signal

ServiceNow's FY26 Q1 8-K shows the incumbent-survives thesis has real numbers behind it: subscription revenue of $3,671M (+22% YoY), beating the high end of guidance, with Now Assist customers spending over $1M in annual contract value growing more than 130% year-over-year. It's evidence that platforms with agent-friendly architecture can convert AI into expansion revenue rather than churn — the counterweight to the 'agents bypass legacy tools' narrative.