"Our customers are off to a strong start in fiscal year 2027," said Ara Mahdessian, Co-Founder and CEO. "We continue to execute on our core multi-year growth vectors, we're delivering the Agentic Operating System to the Trades, and we're improving our organizational velocity."
"I am excited about our progress so far this year," said Vahe Kuzoyan, Co-Founder and President, "During Q1, we more than doubled the number of locations on Max; we're optimizing our internal processes, automating customer onboarding and expect to again double the number of locations on Max during Q2."
Fiscal First Quarter 2027 Financial and Operational Highlights:
Fiscal First Quarter 2027
Fiscal First Quarter 2026
(in millions, except percentages and GTV)
Gross transaction volume ("GTV") (in billions)(1)
$21.7
$17.7
YOY GTV growth
23%
22%
Total revenue
$268.8
$215.7
YOY revenue growth
25%
27%
Platform revenue
$260.6
$208.0
YOY platform revenue growth
25%
27%
GAAP loss from operations
($25.8)
($49.5)
GAAP operating margin
-9.6%
-23.0%
Non-GAAP income from operations(2)
$40.8
$16.2
Non-GAAP operating margin(2)
15.2%
7.5%
GAAP net cash used in operating activities
$(1.6)
$(14.6)
Non-GAAP free cash flow(2)
$(9.6)
$(22.3)
Net dollar retention
> 110%
> 110%
_________________________
(1) Gross Transaction Volume ("GTV") represents the sum of total dollars invoiced by our customers through the ServiceTitan platform in a given period, which is intended to be a proxy for the total revenue our customers generate.(2) 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 2027 Financial Outlook:For fiscal second quarter 2027 and for the full fiscal year 2027, the company currently expects:
Fiscal Second Quarter 2027
Full Fiscal Year 2027
(in millions)
Total revenue
$284 - $286
$1,130 - $1,140
Non-GAAP income from operations(3)
$38 - $39
$142 - $147
_________________________(3) 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 second quarter 2027 or for the full fiscal year 2027 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 4, 2026. Online registration for this 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 ServiceTitan
ServiceTitan 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 Statements
This 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," "goal," "intend," "likely," "may," "plan," "potential," "predict," "project," "seek," "should," "strategy," "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 second quarter 2027 ending July 31, 2026 and the full fiscal year ending January 31, 2027, and statements regarding our operating and organizational velocity, AI strategy, and plans for Max. 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 2026 ended January 31, 2026 as filed with the SEC on March 25, 2026, 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 quarter 2027 ended April 30, 2026. 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, Inc.[email protected]
Investor ContactJason RechelServiceTitan, Inc.[email protected]
© 2026 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 April 30,
2026
2025
Revenue:
Platform
$
260,564
$
207,982
Professional services and other
8,260
7,710
Total revenue
268,824
215,692
Cost of revenue:
Platform
55,509
50,037
Professional services and other
19,524
17,259
Total cost of revenue
75,033
67,296
Gross profit
193,791
148,396
Operating expenses:
Sales and marketing
73,072
69,223
Research and development
88,024
69,140
General and administrative
58,457
59,569
Total operating expenses
219,553
197,932
Loss from operations
(25,762
)
(49,536
)
Other income (expense), net
Interest expense
(183
)
(2,035
)
Interest income
3,727
4,940
Other income, net
351
501
Total other income, net
3,895
3,406
Loss before income taxes
(21,867
)
(46,130
)
Provision for income taxes
951
234
Net loss
(22,818
)
(46,364
)
Net loss per share, basic and diluted
$
(0.24
)
$
(0.51
)
Weighted-average shares used in computing net lossper share, basic and diluted
95,003,992
90,334,442
Disaggregated Revenue
Three Months Ended April 30,
2026
2025
Subscription
$
202,038
$
162,717
Usage
58,526
45,265
Platform revenue
260,564
207,982
Professional services and other
8,260
7,710
Total revenue
$
268,824
$
215,692
ServiceTitan, Inc.Condensed Consolidated Balance Sheets(in thousands, except share and per share data)(unaudited)
As of
April 30,
January 31,
2026
2026
Assets
Current assets:
Cash and cash equivalents
$
421,531
$
428,769
Restricted cash
—
166
Accounts receivable, net of allowance of $9,585 and $11,963 as of April 30, 2026 andJanuary 31, 2026, respectively
63,361
55,974
Deferred contract costs, current
15,249
14,964
Contract assets
64,553
57,777
Prepaid expenses
28,610
25,894
Other current ...
