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TORONTO - NowVertical Group Inc. (TSXV:NOW), a prominent player in the software industry according to InvestingPro analysis, announced Wednesday that a UK-based Strategic Account secured in Q2 2025 has generated over US$1 million in contracted revenue within six months, marking the fastest scale-up of any account in the company’s Strategic Account Program. The company maintains impressive gross profit margins of 78.5% and has demonstrated strong revenue growth of 21.1% over the last twelve months.
The UK client, described as a global leader in financial and market intelligence, is implementing a data modernization program to unify commercial and finance data. NowVertical is delivering this transformation project under the direct sponsorship of the client’s executive leadership team.
The company’s Strategic Account Program, which targets multi-billion-dollar revenue companies with international reach and demand for data modernization, has generated US$37.3 million in revenue over the past 18 months. In 2024, eight Strategic Accounts each delivered more than US$1 million in revenue, up from three accounts in 2023.
"When we focus on enterprise clients with scale and the appetite to transform, we’re able to embed quickly, expand deliberately, and compete successfully against global incumbents," said Sandeep Mendiratta, CEO of NowVertical, in the press release.
The program now accounts for 70% of the company’s H1 total revenue, compared to less than 45% before the program launch. Several Strategic Accounts have exceeded US$5 million in lifetime value, with one surpassing US$25 million.
NowVertical reports that it differentiates itself in the market by specializing in customer, operational, and finance data, prioritizing outcome-based delivery, and using accelerator-led programs for faster value realization.
The company plans to continue growing market share within existing Strategic Accounts and increase the number of accounts through partnership and direct channel initiatives, according to the statement.
In other recent news, ServiceNow has been active with several developments. UBS adjusted its price target for ServiceNow to $1,075, citing mixed feedback on its AI initiatives, though it maintained a Buy rating ahead of the company’s upcoming third-quarter earnings report. Oppenheimer continues to rate ServiceNow as Outperform, with a price target of $1,150, following insights from a key partner about the company’s business conditions through the end of 2026. Stifel reiterated its Buy rating with a $1,200 price target, noting an improved selling environment driven by core workflows and new offerings like Pro+, Workflow Data Fabric, and RaptorDB.
Additionally, ServiceNow has introduced AI Experience, a new interface designed to enhance enterprise workflows with artificial intelligence, extending to various modalities such as voice, text, and image. The company also filed an amendment related to its acquisition of Logik.io, covering the resale of an additional 609 shares of common stock due to a post-closing price adjustment. These shares may be resold by stockholders who acquired them through the acquisition, as per the updated registration statement with the Securities and Exchange Commission.
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