"I am deeply humbled by how much progress we've made during our first year as a public company," said Ara Mahdessian, Co-Founder and CEO. "While we've come a long way together, I have never been more confident that our opportunity to build the operating system for the trades is only just beginning."
"We're operating at a turning point for contractors," said Vahe Kuzoyan, Co-Founder and President. "As we continue to make steady progress against each of our main business priorities this year, we are also leveraging our unique competitive advantages to democratize automation in the trades."
Fiscal Third Quarter 2026 Financial and Operational Highlights:
Fiscal Third Quarter 2026
Fiscal Third Quarter 2025
(in millions, except percentages and GTV)
Gross transaction volume ("GTV") (in billions)
$21.7
$17.8
YOY GTV growth
22
%
20
%
Total revenue
$249.2
$199.3
YOY revenue growth
25
%
24
%
Platform revenue
$239.6
$191.2
YOY platform revenue growth
25
%
26
%
GAAP loss from operations
($42.2
)
($44.0
)
Non-GAAP income from operations(1)
$21.5
$1.6
Non-GAAP operating margin(1)
8.6
%
0.8
%
GAAP net cash provided by operating activities
$43.8
$15.5
Non-GAAP free cash flow(1)
$37.7
$10.6
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 Fourth Quarter and Fiscal Year 2026 Financial Outlook:For fiscal fourth quarter 2026 and for the full fiscal year 2026, the Company currently expects:
Fiscal Fourth Quarter 2026
Full Fiscal Year 2026
(in millions)
Total revenue
$244 - $246
$951 - $953
Non-GAAP income from operations(2)
$16 - $17
$83 - $84
_________________________(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 loss from operations for the fiscal fourth quarter 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, December 4, 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 http://investors.servicetitan.com.
Following completion of the events, a webcast replay will also be available at http://investors.servicetitan.com 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 fiscal fourth quarter 2026 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 Quarterly Report on Form 10-Q for fiscal second quarter 2025 ended July 31, 2025 as filed with the SEC on September 10, 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 fiscal third quarter 2026 ended October 31, 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, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(unaudited)
Three Months Ended October 31,
Nine Months Ended October 31,
2025
2024
2025
2024
Revenue:
Platform
$
239,581
$
191,190
$
680,289
$
539,412
Professional services and other
9,582
8,085
26,689
23,185
Total revenue
249,163
199,275
706,978
562,597
Cost of revenue:
Platform
54,526
52,204
156,554
149,197
Professional services and other
18,297
17,126
54,339
50,649
Total cost of revenue
72,823
69,330
210,893
199,846
Gross profit
176,340
129,945
496,085
362,751
Operating expenses:
Sales and marketing
78,270
67,795
217,037
183,614
Research and development
78,522
65,935
220,727
186,997
General and administrative
61,774
40,263
184,855
122,226
Total operating expenses
218,566
173,993
622,619
492,837
Loss from operations
(42,226
)
(44,048
)
(126,534
)
(130,086
)
Other income (expense), net
Interest expense
(2,041
)
(3,974
)
(6,133
)
(12,324
)
Interest income
5,124
1,778
14,847
5,128
Other income (expense), net
217
185
903
395
Total other income (expense), net
3,300
(2,011
)
9,617
(6,801
)
Loss before income taxes
(38,926
)
(46,059
)
(116,917
)
(136,887
)
Provision for income taxes
601
401
1,199
1,264
Net loss
(39,527
)
(46,460
)
(118,116
)
(138,151
)
Accretion of non-convertible preferred stock
—
(14,652
)
—
(41,608
)
Net loss attributable to common stockholders
$
(39,527
)
$
(61,112
)
$
(118,116
)
$
(179,759
)
Net loss per share, basic and diluted
$
(0.42
)
$
(1.74
)
$
(1.29
)
$
(5.18
)
Weighted-average shares used in computing net loss per share, basic and diluted
93,273,982
35,094,547
91,794,072
34,690,079
Disaggregated Revenue
Three Months Ended October 31,
Nine Months Ended October 31,
2025
2024
2025
2024
Subscription
$
182,778
$
145,282
$
520,248
$
409,013
Usage
56,803
45,908
160,041
130,399
Platform revenue
239,581
191,190
680,289
539,412
Professional services and other
9,582
8,085
26,689
23,185
Total revenue
$
249,163
$
199,275
$
706,978
$
562,597
ServiceTitan, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)
(unaudited)
As of
October 31,
January 31,
2025
2025
Assets
Current assets:
Cash and cash equivalents
$
493,238
$
441,802
Restricted cash
210
711
Accounts receivable, net of allowance of $11,154 and $4,698 as of October 31, 2025 and January 31, 2025, respectively
52,488
44,469
Deferred contract costs, current
13,871
11,554
Contract assets
54,161
45,926
Prepaid expenses
25,343
24,791
Other current assets
4,701
3,513
Total current assets
644,012
572,766
Restricted cash, noncurrent
417
333
Deferred contract costs, noncurrent
13,452
10,608
Property and equipment, net
43,582
56,667
Operating lease right-of-use assets
20,831
24,025
Internal-use software, net
38,806
35,775
Intangible assets, net
187,777
214,952
Goodwill
860,250
845,836
Other assets
7,444
7,686
Total assets
$
1,816,571
$
1,768,648
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and other accrued expenses
$
47,347
$
40,182
Accrued personnel related expenses
73,954
80,160
Deferred revenue, current
18,793
16,803
Operating lease liabilities, current
13,196
12,996
Short-term debt
1,073
1,073
Other current liabilities
1,245
1,902
Total current liabilities
155,608
153,116
Operating lease liabilities, noncurrent
40,234
47,327
Long-term debt, net
103,592
104,014
Other noncurrent liabilities
12,217
9,607
Total liabilities
311,651
314,064
Commitments and contingencies
Stockholders' Equity
