Who Prioritizes Innovation? R&D Spending Compared for ServiceNow, Inc. and Block, Inc.

Innovation at the Forefront: A Comparative Analysis of R&D Spending

In the ever-evolving tech landscape, innovation is the key to staying ahead. ServiceNow, Inc. and Block, Inc. have been at the forefront of this race, consistently investing in research and development (R&D) over the past decade. From 2014 to 2023, ServiceNow's R&D spending surged by over 1,600%, while Block's investment skyrocketed by nearly 1,800%. This remarkable growth underscores their commitment to innovation.

A Decade of Growth

ServiceNow's R&D expenses grew steadily, peaking in 2023 with a 43% increase from the previous year. Meanwhile, Block's R&D spending reached its zenith in 2023, marking a 27% rise from 2022. Notably, ServiceNow's data for 2024 is available, showing a continued upward trend, while Block's data for the same year remains unavailable. This missing data highlights the dynamic nature of tech investments and the potential for future growth.