Analyzing Cost of Revenue: ServiceNow, Inc. and Fortinet, Inc.

Analyzing Cost of Revenue: ServiceNow, Inc. vs. Fortinet, Inc.

In the ever-evolving tech landscape, understanding the cost of revenue is crucial for evaluating a company's financial health. Over the past decade, ServiceNow, Inc. and Fortinet, Inc. have shown significant growth in their cost of revenue, reflecting their expanding operations and market reach. From 2014 to 2023, ServiceNow's cost of revenue surged by approximately 670%, while Fortinet's increased by around 435%. This growth highlights the companies' strategic investments in scaling their services and infrastructure. Notably, ServiceNow's cost of revenue consistently outpaced Fortinet's, peaking at nearly $2.3 billion in 2024, despite missing data for Fortinet in the same year. This trend underscores ServiceNow's aggressive expansion strategy in the cloud computing sector. As these tech giants continue to innovate, monitoring their cost structures will provide valuable insights into their future trajectories.