Latest news with #ServiceTitan
Entrepreneur
2 days ago
- Business
- Entrepreneur
How This Teacher Turned Business Owner Got Started
Angie Snow went from teacher and stay-at-home mom to co-owner of a thriving business by embracing leadership, championing women in trades and rethinking what it means to support both employees and customers. Opinions expressed by Entrepreneur contributors are their own. Angie Snow was a teacher and mom of three young children when her husband suggested buying an HVAC company together. Assuming she'd be playing a background role, she agreed. "I thought, Oh good, I can get out of the classroom, be at home. This will be a piece of cake! I just have to answer the phone and send out invoices, right? No big deal," she says. But what started as a small step into the trades industry quickly turned into a much bigger leap. Over the past 18 years, Snow and her husband grew Western Heating and Air Conditioning more than they ever could have imagined. Now an industry advisor, Snow also teaches business owners how to succeed with ServiceTitan, a leading home services software company. "I thought teaching was for me, but it's been fun as I've built my business and been able to help other contractors along the way," she says. "I've been able to slide back into that teaching seat, just in a different role." Snow's transition into the trades wasn't always easy. As a woman stepping into a leadership role in a male-dominated industry, she struggled with impostor syndrome and finding her footing. Everything changed when she found community through Women in HVACR, an organization that promotes education, mentorship and support for women in the industry. "I was like, 'I found my people,'" Snow says. Related: He Went From Customer to CEO of a Rapidly-Expanding Dessert Chain By Following This Process That moment sparked a deeper passion. Snow later served on the group's advisory board for six years and got involved with groups like Women in Plumbing and Piping and National Women in Roofing. "It's just so cool to see these organizations exist to support women, where a lot of times we just haven't felt or seen that in the trades," she says. Building a place in the trades where everyone can feel seen and supported became Snow's goal, and part of her leadership philosophy centers on creating a workplace with a strong internal culture. "Number one, you have to work on your leadership and always evolve as a leader — connecting with your people, helping your people feel like they matter and having a vision for them to look at and to follow. The foundational work has to be in place," she says. "They have to know that you care and you're a company and a brand worth working for." One of the biggest hurdles today is attracting younger workers to the trades. Snow says it's not just about better recruiting, but rather about changing outdated perceptions of the industry. "Something we're doing at ServiceTitan to change that stigma is to show how home service companies are really the heroes," she says. "They're the ones showing up. You will have steady work, and these people are the heroes." The Covid-19 pandemic helped prove that point. While other industries slowed down, essential home services stayed strong. "It brought a new light to how important the trades are and why we are so needed," Snow says. Related: He Started a Business and Ended Up on the Brink of Bankruptcy. He Fixed His Mistakes – and Now Teaches Entrepreneurs What He Wishes He Knew When Starting Out. Still, employee retention and morale require more than job security. Snow recognized that many employees, especially Gen Z workers, care deeply about balance and flexibility, which are things that don't always come naturally in a demanding industry like home services. "That generation really values work-life balance. They value having time with their family and time off when they want it," Snow says. "We're a 24/7 industry, but to help them, I show that I care about them and honor that work-life balance. Because that's what I want in my life too." True to her word, she reworked the team's schedule into four-day workweeks, which resulted in more engaged workers who take pride in each job. Technology has also been a huge part of helping Snow deliver a high-level experience. Since switching to ServiceTitan in 2018, Western Heating and Air Conditioning has seen improvements in efficiency. Snow says artificial intelligence is further transforming the game. "It is just crazy how AI can analyze and do so many things so much faster," she says. With AI tools, her team can automate dispatching, consolidate contacts, track sales calls and even help technicians perform better during service visits. It's a win-win: Smarter systems empower her people to focus on serving customers. Looking back, Snow never imagined where this journey would take her. But she hopes others, especially women and young people, realize the trades offer much more than people assume. Related: Her Show Was Canceled – But the Setback Taught Busy Philipps a Powerful Lesson for Creators and Entrepreneurs "There is a path for everyone in the trades, and there is so much opportunity [and] money to be made," she says. "It's a very nice industry that way, and it is a service that people need. I would definitely consider finding your own unique genius in where you shine and finding a path in the trades, because it won't let you down. You'll be surprised." After nearly two decades growing a successful HVAC company and helping shape the future of the trade industry, Snow's advice to current and future business leaders is clear: Lead with people in mind. Whether it's your technicians or customers, building a business rooted in care, connection and trust sets the foundation for long-term success. Whether it's your technicians or customers, building a business rooted in care, connection and trust sets the foundation for long-term success. Create an employee experience worth staying for. From flexible schedules to a culture of belonging, investing in your team elevates every part of your business. From flexible schedules to a culture of belonging, investing in your team elevates every part of your business. Embrace innovation early. Tools like AI and integrated software platforms don't just boost efficiency — they also free your team to focus on what matters most: serving customers. Tools like AI and integrated software platforms don't just boost efficiency — they also free your team to focus on what matters most: serving customers. Redefine what leadership looks like. There's space in the trades for every kind of strength and every kind of leader. There's space in the trades for every kind of strength and every kind of leader. If there's an open door, walk through it. The trades are full of hidden opportunities. Whether you start in the field, the office or by someone else's side, you might be surprised where you end up. Watch the episode above to hear directly from Angie Snow, and subscribe to Behind the Review for more from new business owners and reviewers every Tuesday. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success.
Associated Press
26-06-2025
- Business
- Associated Press
TieTechnology Brings Its Best-of-Business Telephony Solutions to ServiceTitan and PestPac CRM Installations
SARASOTA, Fla.--(BUSINESS WIRE)--Jun 26, 2025-- TieTechnology, today announced new integrations for ServiceTitan and PestPac — two of the most popular names in field service CRM software. These integrations further solidify TieTechnology's reputation and superior technology as the go-to business phone system provider when impeccable service, deep integration expertise, and reliability are essential. ServiceTitan and PestPac, both serve mission-critical roles for home services and pest control industries — relying on precise, always-on communications. TieTechnology's ability to integrate its phone systems seamlessly with these platforms — while delivering hands-on customer care – further proves why they are becoming the go-to provider for business voice and CRM integration. 'This entire industry has been trained to accept subpar service from phone providers. Our customers don't just need phones that work. They need phones that work with everything else — CRM, scheduling, dispatching, customer support — and they need them supported by someone who answers the call,' said Jim Eckes, Founder of TieTechnology. 'We don't just install systems. We create an enhanced customer experience and stand behind every call, every feature, every outage fix. That's why companies that use ServiceTitan, PestPac and many others trust us with their communication lifelines.' AC Warehouse, a longtime ServiceTitan user, echoed that sentiment. 'TieTechnology made our ServiceTitan integration seamless. We're now able to access customer data quicker and answer more calls. More importantly, when we had questions, someone answered — immediately. I would never go back. You just don't get that kind of care from big-name providers,' said Operations Manager Shalan DeMarco. With these new integrations, TieTechnology continues its expansion across verticals that demand not just functionality — but accountability, availability, and direct human support. Why Partners & Customers Trust TieTechnology: 'TieTechnology has grown because we've never strayed from what matters: getting it right and picking up the phone every time a user has an issue,' added Eckes. 'We're not just a phone company. We're your support system — literally.' As field service companies grow and modernize, reliable telephony integrated directly into business software becomes essential. TieTechnology isn't just keeping pace — they're setting the bar. For more information about TieTechnology's services or to request a consultation, visit About TieTechnology TieTechnology is a premier provider of communication and IT solutions, specializing in VoIP systems, managed IT services, and tailored solutions for small and medium-sized businesses. Founded on the principles of innovation and unmatched customer service, TieTechnology empowers businesses to thrive with cutting-edge tools and support. View source version on CONTACT: Media Contact: Peter Ramsay Global Results Communications [email protected] 949.307.5908 KEYWORD: UNITED STATES NORTH AMERICA FLORIDA INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY VOIP TELECOMMUNICATIONS SOFTWARE INTERNET SOURCE: TieTechnology Copyright Business Wire 2025. PUB: 06/26/2025 08:00 AM/DISC: 06/26/2025 08:02 AM
Yahoo
06-06-2025
- Business
- Yahoo
ServiceTitan Inc (TTAN) Q1 2026 Earnings Call Highlights: Record Revenue Growth and Strategic ...
Gross Transaction Volume (GTV): $17.7 billion, up 22% year over year. Total Revenue: $215.7 million, up 27% year over year. Subscription Revenue: $162.7 million, up 29% year over year. Usage Revenue: $45.3 million, up 22% year over year. Platform Revenue: $208 million, up 27% year over year. Professional Service Revenue: $7.7 million. Net Dollar Retention: Greater than 110% for the quarter. Platform Gross Margin: 79.7%, an improvement of over 300 basis points year over year. Total Gross Margin: 73.6%, up 390 basis points year over year. Operating Income: $16.2 million, with a record operating margin of 7.5%, an improvement of 560 basis points year over year. Free Cash Flow: Negative $22.3 million, better than negative $24.6 million for the prior-year first quarter. Q2 Revenue Guidance: $228 million to $230 million. Q2 Operating Income Guidance: $17 million to $18 million. Full Year 2026 Revenue Guidance: $910 million to $920 million. Full Year 2026 Operating Income Guidance: $54 million to $59 million. Release Date: June 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ServiceTitan Inc (NASDAQ:TTAN) reported a 29% year-over-year growth in subscription revenue and a 27% increase in total revenue. The company achieved record operating margins, improving by 560 basis points year-over-year. ServiceTitan Inc (NASDAQ:TTAN) successfully launched several large strategic accounts, both residential and commercial, during the quarter. The company is seeing strong adoption of its Pro products, which are contributing significantly to subscription revenue growth. ServiceTitan Inc (NASDAQ:TTAN) is making significant progress in expanding its enterprise capabilities and entering new markets, such as commercial and roofing. ServiceTitan Inc (NASDAQ:TTAN) reported a negative free cash flow of $22.3 million for the quarter. The company faces potential risks from economic uncertainties, including tariffs and supply chain inflation, which could impact customer growth. There is a dependency on weather patterns for Q2 performance, which introduces variability in revenue outcomes. ServiceTitan Inc (NASDAQ:TTAN) is still in the early stages of penetrating the commercial market, indicating a long path to full market capture. The company has to manage the timing of expenses carefully, as Q1 expenses were more favorable than in prior years, which may not be sustainable. Q: How might tariffs impact ServiceTitan's business, particularly in terms of equipment servicing opportunities and transaction volumes? A: Ara Mahdessian, CEO, explained that while tariffs could lead to supply chain inflation, ServiceTitan's customers have historically managed to pass through rising costs. The company remains prudent in forecasting Gross Transaction Volume (GTV) due to macroeconomic uncertainties. Q: Can you elaborate on the stacking S-curve strategy and its role in driving growth? A: Vahe Kuzoyan, President, emphasized the company's focus on enterprise, commercial, Pro products, and roofing as the primary areas of growth. While there are additional opportunities, the current focus remains on these key areas to drive durable growth. Q: What seasonal trends does ServiceTitan typically observe in the first half of the year, and how do Pro products contribute to growth? A: Dave Sherry, CFO, noted that Q2 is seasonally strong due to trades like HVAC and landscaping, making it sensitive to weather. Pro products are the fastest-growing segment, significantly contributing to subscription revenue growth. Q: What progress has ServiceTitan made in the commercial sector, and what is the current penetration rate? A: Ara Mahdessian highlighted successful commercial go-lives and ongoing development of project management capabilities. Vahe Kuzoyan added that the company is still in the early stages of penetrating the commercial market, with significant opportunities ahead. Q: How does ServiceTitan approach entering new trades, and are there opportunities beyond the current focus areas? A: Vahe Kuzoyan stated that while there are broader verticals that could use ServiceTitan, the company prioritizes focused areas like enterprise and commercial. Opportunistic deals are considered if there's a high degree of conviction in their success. Q: How does ServiceTitan plan to leverage AI and digital agents to drive efficiencies for customers? A: Vahe Kuzoyan explained that AI is integrated across the platform to automate tasks and enhance productivity, particularly in back-office operations and fieldwork, providing a competitive advantage. Q: What impact do home equity loan applications have on ServiceTitan's business, and is there potential for larger projects? A: Vahe Kuzoyan noted that increased home equity loan applications could drive more home projects, but the magnitude of impact is uncertain at this point. Q: What factors contributed to the strong gross margin performance in Q1, and what can be expected going forward? A: Dave Sherry attributed the gross margin improvement to scale and product selection, with a significant portion due to customer success management reclassification. Margins are expected to remain stable throughout the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
05-06-2025
- Business
- Yahoo
ServiceTitan Partners with EagleView to Empower Roofing and Exterior Contractors
New Integration Combines EagleView's Precise Aerial Data with ServiceTitan's Estimating and Proposal Capabilities, Streamlining Workflows Driving Higher Close Rates LOS ANGELES, June 05, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (Nasdaq: TTAN), the software platform that powers the trades, today announced the availability of its integration with EagleView, a leading provider of aerial roofing measurements. This new integration brings EagleView's advanced property data directly to contractors, equipping them with the tools they need to create competitive bids, eliminate costly mistakes, and streamline their operations, all from within ServiceTitan. 'ServiceTitan joining forces with EagleView is a game-changer for roofing and exterior contractors,' said Connor Theilmann, Chief Business Officer at ServiceTitan. 'We're eliminating manual measurements, instantly populating accurate data, and streamlining the entire estimating process for our customers, ultimately delivering a faster, more professional experience for homeowners. We're proud to bring this powerful capability to our customers, help them operate more efficiently and close more deals with confidence.' Now available to all ServiceTitan roofing and exterior customers, the integration with EagleView automatically pulls roof measurement data into ServiceTitan's estimating tools, helping speed accurate customer proposal development, accelerate the sales process, and increase profit margins.'This integration is driving automation and efficiency across the entire roofing industry,' said Brady Campbell, VP Business Development, EagleView. 'By bringing together EagleView's precise measurements, with ServiceTitan's end-to-end platform, roofing contractors can move faster, quote with confidence, and scale their businesses to deliver more jobs.' With the new integration, ServiceTitan customers can: Estimate More Effectively by quickly accessing detailed property measurements directly in ServiceTitan, creating precise, competitive bids. Enhance the Estimating Process with fast, reliable measurements that help win more jobs, without having to go onsite. Streamline Operations and eliminate manual measurement errors with auto-populated data, ensuring accurate material orders every single time. EagleView, trusted by thousands of contractors, and 24 of the top 25 insurance carriers, provides one of the world's largest aerial imagery libraries, and roof measurement data for more than 94% of U.S. homes. EagleView roof measurements are 98.77% accurate compared to independent benchmark measurements which helps drive accuracy and efficiency of proposal pricing. Contractors who leverage EagleView roof data can deliver estimates four times faster and with significantly fewer material-related errors. Click here to learn more about ServiceTitan's roofing capabilities. About ServiceTitanServiceTitan is the software platform that powers trades businesses. The company's cloud-based, end-to-end solution gives contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience. By bringing an integrated SaaS platform to an industry historically underserved by technology, ServiceTitan is equipping tradespeople with the technology they need to keep the world running. About EagleView EagleView is a leader in geospatial technology providing solutions that revolutionize how its customers work. Known for its expansive 3 billion+ imagery library, EagleView property intelligence covers 94 percent of the U.S. population. EagleView holds more than 300 patents and leverages this technology portfolio to offer cutting-edge software, imagery, and analytics across various industries, driving faster and smarter decisions. Press ContactsMax WertheimerServiceTitan, Kristina LibbyEagleViewMediarelations@ © 2025 ServiceTitan, Inc. All rights reserved. ServiceTitan, the ServiceTitan logo, and all ServiceTitan product and service names mentioned herein are registered trademarks or unregistered trademarks of ServiceTitan, Inc., in the United States and other countries. Other brand names and marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
ServiceTitan Announces Fiscal First Quarter Financial Results
LOS ANGELES, June 05, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (NASDAQ: TTAN), the software platform that powers the trades, today announced financial results for the fiscal first quarter ended April 30, 2025. 'I am humbled by the way that our team, in partnership with our customers, performed this quarter,' said Ara Mahdessian, Co-Founder and CEO. 'The quality and breadth of execution underscore our opportunity to transform the lives of every hardworking contractor in the trades.' 'The ROI we deliver to our customers continues to be our greatest advantage,' said Vahe Kuzoyan, Co-Founder and President, 'We're building a series of stacking S-curves to put ourselves in a position to deliver transformative customer outcomes, and each of our four primary areas of focus this year are off to a strong start.' Fiscal First Quarter 2026 Financial and Operational Highlights: Fiscal First Quarter 2026 Fiscal First Quarter 2025 (in millions, except percentages and GTV) Gross transaction volume ("GTV") (in billions) $ 17.7 $ 14.5 YOY GTV growth 22 % 23 % Total revenue $ 215.7 $ 170.3 YOY revenue growth 27 % 25 % Platform revenue $ 208.0 $ 163.2 YOY platform revenue growth 27 % 27 % GAAP loss from operations $ (49.5 ) $ (53.4 ) Non-GAAP income from operations (1) $ 16.2 $ 3.3 Non-GAAP operating margin (1) 7.5 % 1.9 % Net cash used in operating activities $ (14.6 ) $ (19.2 ) Non-GAAP free cash flow (1) $ (22.3 ) $ (24.6 ) Net dollar retention > 110% > 110% _________________________(1)This press release uses non-GAAP financial measures that adjust GAAP financial measures for the impact of various items. See the section titled 'Non-GAAP Financial Measures' and the tables entitled 'GAAP to Non-GAAP Reconciliation' below for additional information. Fiscal Second Quarter and Fiscal Year 2026 Financial Outlook:For the second quarter of fiscal 2026 and for the full fiscal year 2026, the Company currently expects: Fiscal Second Quarter 2026 Full Fiscal Year 2026 (in millions) Total revenue $228 - $230 $910 - $920 Non-GAAP income from operations(2) $17 - $18 $54 - $59 _________________________(2) ServiceTitan is not able, at this time, to provide an outlook for GAAP loss from operations or a reconciliation of expected non-GAAP income from operations to GAAP income loss from operations for the second quarter of fiscal 2026 or for the full fiscal year 2026 because of the difficulty of estimating certain items excluded from non-GAAP income from operations that cannot be reasonably calculated or predicted without unreasonable efforts. For example, charges related to stock-based compensation expense require additional inputs, such as the number and value of awards granted, that are not currently ascertainable. Conference Call Information:The financial results and business highlights will be discussed on a conference call and webcast scheduled at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Thursday, June 5, 2025. Online registration for this event conference call can be found here. The live webcast of the conference call can be accessed from ServiceTitan's investor relations website at Following completion of the events, a webcast replay will also be available at for 12 months. About ServiceTitanServiceTitan is the software platform that powers trades businesses. The company's cloud-based, end-to-end solution gives contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience. By bringing an integrated SaaS platform to an industry historically underserved by technology, ServiceTitan is equipping tradespeople with the technology they need to keep the world running. Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential' 'predict,' 'project,' 'should,' 'target,' or 'will,' or the negative of these words or other similar terms or expressions that concern ServiceTitan's expectations, strategy, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding ServiceTitan's financial outlook for total revenue and non-GAAP income from operations for the second quarter of fiscal year 2026 ending July 31, 2025 and the full fiscal year ending January 31, 2026. ServiceTitan's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including those more fully described under the caption 'Risk Factors' in our Annual Report on Form 10-K for fiscal 2025 as filed with the SEC on April 2, 2025, which should be read in conjunction with this press release and the financial results included herein. Additional information will be set forth in our Quarterly Report on Form 10-Q for the fiscal first 2026 quarter ended April 30, 2025. The forward-looking statements in this release are based on information available to ServiceTitan as of the date hereof, and ServiceTitan undertakes no obligation to update any forward-looking statements, except as required by law. Press ContactMax WertheimerServiceTitan, Investor ContactJason RechelServiceTitan, © 2025 ServiceTitan. All rights reserved. ServiceTitan, the ServiceTitan logo, and all ServiceTitan product and service names mentioned herein are registered trademarks or unregistered trademarks of ServiceTitan, Inc. in the United States and other countries. Other brand names and marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). ServiceTitan, Consolidated Statements of Operations(in thousands, except share and per share data)(unaudited) Three Months Ended April 30, 2025 2024 Revenue: Platform $ 207,982 $ 163,225 Professional services and other 7,710 7,103 Total revenue 215,692 170,328 Cost of revenue: Platform 50,037 47,757 Professional services and other 17,259 16,591 Total cost of revenue 67,296 64,348 Gross profit 148,396 105,980 Operating expenses: Sales and marketing 69,223 57,601 Research and development 69,140 58,613 General and administrative 59,569 43,194 Total operating expenses 197,932 159,408 Loss from operations (49,536 ) (53,428 ) Other income (expense), net Interest expense (2,035 ) (4,128 ) Interest income 4,940 1,696 Other income, net 501 227 Total other income (expense), net 3,406 (2,205 ) Loss before income taxes (46,130 ) (55,633 ) Provision for income taxes 234 406 Net loss (46,364 ) (56,039 ) Adjustments to net loss attributable to common stockholders — (12,987 ) Net loss attributable to common stockholders $ (46,364 ) $ (69,026 ) Net loss per share, basic and diluted $ (0.51 ) $ (2.02 ) Weighted-average shares used in computing net loss per share, basic and diluted 90,334,442 34,175,068 Disaggregated Revenue Three Months Ended April 30, 2025 2024 Subscription $ 162,717 $ 126,034 Usage 45,265 37,191 Platform revenue 207,982 163,225 Professional services and other 7,710 7,103 Total revenue $ 215,692 $ 170,328 ServiceTitan, Consolidated Balance Sheets(in thousands, except share and per share data)(unaudited) As of April 30, January 31, 2025 2025 Assets Current assets: Cash and cash equivalents $ 420,265 $ 441,802 Restricted cash 210 711 Accounts receivable, net of allowance of $7,095 and $4,698 as of April 30, 2025 and January 31, 2025, respectively 46,016 44,469 Deferred contract costs, current 12,495 11,554 Contract assets 47,267 45,926 Prepaid expenses 23,548 24,791 Other current assets 3,172 3,513 Total current assets 552,973 572,766 Restricted cash, noncurrent 417 333 Deferred contract costs, noncurrent 12,069 10,608 Property and equipment, net 48,203 56,667 Operating lease right-of-use assets 20,266 24,025 Internal-use software, net 36,590 35,775 Intangible assets, net 203,570 214,952 Goodwill 845,836 845,836 Other assets 7,472 7,686 Total assets $ 1,727,396 $ 1,768,648 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and other accrued expenses $ 44,040 $ 40,182 Accrued personnel related expenses 37,970 80,160 Deferred revenue, current 16,374 16,803 Operating lease liabilities, current 12,387 12,996 Short-term debt 1,073 1,073 Other current liabilities 2,990 1,902 Total current liabilities 114,834 153,116 Operating lease liabilities, noncurrent 44,297 47,327 Long-term debt, net 103,866 104,014 Other noncurrent liabilities 10,470 9,607 Total liabilities 273,467 314,064 Commitments and contingencies Stockholders' Equity Preferred stock, par value $0.001, 100,000,000 shares authorized as of April 30, 2025 and January 31, 2025. 0 shares issued and outstanding as of April 30, 2025 and January 31, 2025 - - Class A common stock, par value $0.001, 1,000,000,000 shares authorized as of April 30, 2025 and January 31, 2025. 77,236,670 shares and 76,644,240 shares issued and outstanding as of April 30, 2025 and January 31, 2025, respectively 78 77 Class B common stock, par value $0.001, 100,000,000 shares authorized as of April 30, 2025 and January 31, 2025. 13,404,097 shares issued and outstanding as of April 30, 2025 and January 31, 2025 13 13 Class C common stock, par value $0.001, 100,000,000 shares authorized as of April 30, 2025 and January 31, 2025. 0 shares issued and outstanding as of April 30, 2025 and January 31, 2025 - - Additional paid-in capital 2,605,932 2,560,224 Accumulated deficit (1,152,094 ) (1,105,730 ) Total stockholders' equity 1,453,929 1,454,584 Total liabilities and stockholders' equity $ 1,727,396 $ 1,768,648 ServiceTitan, Consolidated Statements of Cash Flows(in thousands)(unaudited) Three Months Ended April 30, 2025 2024 Cash flows provided by (used in) operating activities Net loss $ (46,364 ) $ (56,039 ) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization expense 19,955 19,731 Amortization of deferred contract costs 3,336 2,587 Noncash operating lease expense 1,352 1,772 Stock-based compensation expense 43,749 19,939 Loss on impairment and disposal of assets 8,060 20,131 Change in valuation of contingent consideration — (30 ) Deferred income taxes 646 738 Amortization of debt issuance costs 120 58 Provision for credit losses 3,723 723 Changes in operating assets and liabilities, net of effect of business acquisition: Accounts receivable (5,270 ) (4,561 ) Prepaid expenses and other current assets 1,671 1,924 Deferred contract costs (5,739 ) (2,147 ) Contract assets (1,341 ) (1,071 ) Other assets 508 280 Accounts payable and other accrued expenses 4,001 4,336 Accrued personnel related expenses (40,632 ) (27,213 ) Operating lease liabilities (3,153 ) (1,045 ) Other liabilities 1,237 895 Deferred revenue (429 ) (232 ) Net cash used in operating activities (14,570 ) (19,224 ) Cash flows used in investing activities Capitalized internal-use software (6,472 ) (4,785 ) Purchase of property and equipment (1,292 ) (628 ) Acquisition of business, net of cash acquired — (1,184 ) Net cash used in investing activities (7,764 ) (6,597 ) Cash flows provided by (used in) financing activities Payment of contingent consideration — (165 ) Proceeds from exercise of stock options 1,181 1,440 Payment of debt arrangements (268 ) (450 ) Payment of deferred initial public offering costs (533 ) (627 ) Shares repurchased for tax withholding for the settlement of restricted stock units — (5,306 ) Net cash provided by (used in) financing activities 380 (5,108 ) Net decrease in cash, cash equivalents, and restricted cash (21,954 ) (30,929 ) Cash, cash equivalents, and restricted cash Beginning of period 442,846 148,863 End of period $ 420,892 $ 117,934 Statement Regarding Use of Non-GAAP Financial MeasuresIn addition to our results prepared in accordance with GAAP, we believe non-GAAP gross profit and non-GAAP gross margin, in total and for platform, and professional services and other, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, and non-GAAP earnings per share ("EPS") are useful in evaluating our operating performance. These measures, however, have certain limitations in that they reflect the exercise of judgment by our management about which expenses are excluded or included and do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, our financial results determined in accordance with GAAP. We caution investors that amounts presented in accordance with our definition of non-GAAP gross profit, non-GAAP gross margin, non-GAAP sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, and non-GAAP EPS may not be comparable to similar measures disclosed by other companies because not all companies and analysts calculate these measures in the same manner. For the reasons set forth below, we believe that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures. We exclude stock-based compensation expense, including the performance-based RSU's granted to our Co-Founders, and related employer payroll taxes to allow investors to make more meaningful comparisons of our performance between periods and to facilitate a comparison of our performance to those of other peer companies. Stock-based compensation may vary between periods due to various factors unrelated to our core performance, including as a result of the assumptions used in the valuation methodologies, timing and amount of grants and other factors. We exclude employer payroll taxes because the amounts vary based on timing and settlement or vesting of awards unrelated to our core operating performance. Moreover, stock-based compensation expense is a non-cash expense that we exclude from our internal management reporting processes and when assessing our actual performance, budgeting, planning, and forecasting future periods. We incur amortization expense for acquired intangible assets in connection with acquisitions of certain businesses and technologies. Amortization of acquired intangible assets is a non-cash expense that is significantly affected by the timing and size of acquisitions, and the inherent subjective nature of purchase price allocations. Because these costs have already been incurred, we exclude the amortization expense from our internal management reporting processes. We exclude these charges when assessing our actual performance and when budgeting, planning, and forecasting future periods. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. To better align our strategic priorities with our investments, we implemented workforce reductions in fiscal 2025. In connection with these reductions, we incurred employee-related expenses including severance and other termination benefits. We excluded these charges when assessing our actual performance and when budgeting, planning and forecasting future periods. We have incurred impairments on certain right-of-use assets and other long-lived assets. We believe that it is useful to exclude these charges when assessing the level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. In addition, we believe excluding such costs enhances the comparability between periods. We have incurred costs related to acquisitions, including legal, third-party valuation and due diligence, insurance costs, and one-time retention bonuses for employees of acquired companies. In addition, we periodically record the change to the fair value of contingent consideration related to past acquisitions. We exclude these items when assessing our actual performance and when budgeting, planning and forecasting future periods. We believe excluding these items allows investors to make meaningful comparisons between our core operating results and those of other peer companies. We define non-GAAP basic EPS as non-GAAP net income divided by weighted-average shares outstanding used in computing net loss per share attributable to common stockholders, basic. We define non-GAAP diluted EPS as non-GAAP net income divided by weighted-average shares outstanding giving effect to the weighted average of all potentially dilutive common stock equivalents outstanding for the period including options to purchase common stock, restricted stock units, and acquisition indemnity shares withheld. The dilutive effect of outstanding awards is reflected in non-GAAP diluted earnings per share by application of the treasury method. We define free cash flow as net cash provided by (used in) operating activities less cash used for investing activities for capitalized internal use software and less cash paid for purchases of, and deposits for, property and equipment. We believe that free cash flow is a meaningful indicator of our sources of liquidity and capital requirements that provides information to management and investors in evaluating the cash flow trends of our business. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet and invest in future growth. Free cash flow has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Other companies may calculate free cash flow or similarly titled non-GAAP measures differently, which could reduce the usefulness of free cash flow as a tool for comparison. In addition, free cash flow does not reflect mandatory debt service and other non-discretionary expenditures that are required to be made under contractual commitments and does not represent the total increase or decrease in our cash balance for any given period. ServiceTitan, to Non-GAAP Reconciliations(unaudited) Platform Professional Services and Other Total Three Months EndedApril 30, Three Months EndedApril 30, Three Months EndedApril 30, 2025 2024 2025 2024 2025 2024 (in thousands) GAAP gross profit $ 157,945 $ 115,468 $ (9,549 ) $ (9,488 ) $ 148,396 $ 105,980 Stock-based compensation expense and related employer payroll taxes 1,398 1,142 1,384 869 2,782 2,011 Amortization of acquired intangible assets 5,533 5,303 334 784 5,867 6,087 Restructuring charges — 386 — 129 — 515 Loss on operating lease assets 960 2,828 751 1,318 1,711 4,146 Non-GAAP gross profit $ 165,836 $ 125,127 $ (7,080 ) $ (6,388 ) $ 158,756 $ 118,739 Platform Professional Services and Other Total Three Months EndedApril 30, Three Months EndedApril 30, Three Months EndedApril 30, 2025 2024 2025 2024 2025 2024 GAAP gross margin 75.9 % 70.7 % (123.9 )% (133.6 )% 68.8 % 62.2 % Stock-based compensation expense and related employer payroll taxes 0.7 % 0.7 % 18.0 % 12.2 % 1.3 % 1.2 % Amortization of acquired intangible assets 2.7 % 3.2 % 4.3 % 11.0 % 2.7 % 3.6 % Restructuring charges 0.0 % 0.2 % 0.0 % 1.8 % 0.0 % 0.3 % Loss on operating lease assets 0.5 % 1.7 % 9.7 % 18.6 % 0.8 % 2.4 % Non-GAAP gross margin* 79.7 % 76.7 % (91.8 )% (89.9 )% 73.6 % 69.7 % * Totals may not foot due to rounding. Three Months Ended April 30, 2025 2024 (in thousands) GAAP sales and marketing expense $ 69,223 $ 57,601 Stock-based compensation expense and related employer payroll taxes (5,568 ) (3,575 ) Amortization of acquired intangible assets (5,515 ) (5,450 ) Restructuring charges — (292 ) Loss on operating lease assets (1,765 ) (3,649 ) Non-GAAP sales and marketing expense $ 56,375 $ 44,635 Three Months Ended April 30, 2025 2024 (in thousands) GAAP research and development expense $ 69,140 $ 58,613 Stock-based compensation expense and related employer payroll taxes (12,263 ) (7,758 ) Restructuring charges — (991 ) Loss on operating lease assets (1,679 ) (3,478 ) Non-GAAP research and development expense $ 55,198 $ 46,386 Three Months Ended April 30, 2025 2024 (in thousands) GAAP general and administrative expense $ 59,569 $ 43,194 Stock-based compensation expense and related employer payroll taxes (12,647 ) (7,228 ) Stock-based compensation expense - Co-Founders performance based RSUs (13,071 ) — Acquisition-related items — (2,054 ) Restructuring charges — (698 ) Loss on operating lease assets (2,877 ) (8,808 ) Non-GAAP general and administrative expense $ 30,974 $ 24,406 Three Months Ended April 30, 2025 2024 (in thousands) GAAP loss from operations $ (49,536 ) $ (53,428 ) Stock-based compensation expense and related employer payroll taxes 33,260 20,572 Stock-based compensation expense - Co-Founders performance based RSUs 13,071 — Amortization of acquired intangible assets 11,382 11,537 Restructuring charges — 2,496 Acquisition-related items — 2,054 Loss on operating lease assets 8,032 20,081 Non-GAAP income from operations $ 16,209 $ 3,312 Three Months Ended April 30, 2025 2024 GAAP operating margin (23.0 )% (31.4 )% Stock-based compensation expense and related employer payroll taxes 15.4 % 12.1 % Stock-based compensation expense - Co-Founders performance based RSUs 6.1 % 0.0 % Amortization of acquired intangible assets 5.3 % 6.8 % Restructuring charges 0.0 % 1.5 % Acquisition-related items 0.0 % 1.2 % Loss on operating lease assets 3.7 % 11.8 % Non-GAAP operating margin* 7.5 % 1.9 % * Totals may not foot due to rounding. Three Months Ended April 30, 2025 2024 (in thousands) GAAP net loss $ (46,364 ) $ (56,039 ) Stock-based compensation expense and related employer payroll taxes 33,260 20,572 Stock-based compensation expense - Co-Founders performance based RSUs 13,071 — Amortization of acquired intangible assets 11,382 11,537 Restructuring charges — 2,496 Acquisition-related items — 2,054 Loss on operating lease assets 8,032 20,081 Income tax effects related to the above adjustments(3) (1,484 ) (489 ) Non-GAAP net income $ 17,897 $ 212 (3) This amount represents adjustments for the current and deferred income tax effects on non-GAAP net income for the impact of the non-GAAP adjustments above. Three Months Ended April 30, 2025 (4) (in thousands, expect share and per share amounts) Numerator Non-GAAP net income $ 17,897 Denominator Weighted-average shares used in computing net loss per share attributable to common stockholders, basic 90,334,442 Effect of dilutive securities: Stock-based awards 7,893,378 Weighted-average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted 98,227,820 GAAP net loss per share, basic and diluted $ (0.51 ) Non-GAAP net income per share, basic $ 0.20 Non-GAAP net income per share, diluted $ 0.18 (4) ServiceTitan has not provided prior year non-GAAP EPS for the comparative three month period ended April 30, 2024 because it does not believe such disclosure would provide meaningful supplemental information regarding an EPS trend due to the redeemable convertible preferred stock that was outstanding prior to our IPO. Three Months Ended April 30, 2025 2024 (in thousands) Net cash used in operating activities $ (14,570 ) $ (19,224 ) Capitalized internal-use software (6,472 ) (4,785 ) Purchase of property and equipment (1,292 ) (628 ) Non-GAAP free cash flow $ (22,334 ) $ (24,637 )Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
