TTAN

MKT CAP:$6B

ServiceTitan, Inc.

Market Cap

$6B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$61.90-$39.69 (-39.07%)

Apr 24, 2026

Company Details

ServiceTitan, Inc. engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Ku...

CEO

Ara Mahdessian

IPO Date

Dec 12, 2024

Website

www.servicetitan.com

Key Metrics TTM

Revenue

$916M

+28.3% YoY

Net Income

-$219M

EPS (Diluted)

-$4.09

Free Cash Flow

$80M

Revenue / Share

$9.98

Gross Margin

68.6%

Operating Margin

-13.9%

Net Margin

-23.9%

FCF Margin

8.7%

P/S

6.5x

P/E

—

Earnings Reports

Q3 2026

Dec 9, 2025

$249M+25.0%EPS -$0.43

Q2 2026

Sep 10, 2025

$242M+25.5%EPS -$0.35

Q1 2026

Jun 12, 2025

$216MEPS -$0.51

FY 2025

Apr 1, 2025

$772M+25.6%EPS -$8.53

Q4 2025

Apr 1, 2025

$209M+29.4%EPS -$2.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$101M	$57M	-$62M
Q2 23	$114M	$67M	-$46M
Q3 23	$124M	$70M	-$53M
Q4 23	$129M	$73M	-$61M
Q1 24	$146M	$88M	-$49M
Q2 24	$156M	$97M	-$49M
Q3 24	$160M	$103M	-$36M
Q4 24	$162M	$100M	-$48M
Q2 25	$193M	$127M	-$139M
Q3 25	$199M	$130M	-$44M
Q4 25	$209M	$138M	-$100M
Q1 26	$216M	$148M	$50M
Q2 26	$242M	$171M	-$35M
Q3 26	$249M	$171M	-$42M

Valuation

Quarter	P/S	P/E
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	14.5x	—
Q1 24	13.2x	—
Q2 24	12.2x	—
Q3 24	11.4x	—
Q4 24	10.9x	—
Q2 25	10.1x	—
Q3 25	9.5x	—
Q4 25	12.2x	—
Q1 26	13.2x	—
Q2 26	12.3x	—
Q3 26	9.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 24	-$23M	-$33M
Q2 24	-$23M	-$33M
Q3 24	$418.0K	-$6M
Q4 24	$6M	-$2M
Q2 25	$25M	$19M
Q3 25	$16M	$11M
Q4 25	$15M	$14M
Q1 26	-$15M	-$16M
Q2 26	$40M	$39M
Q3 26	$44M	$42M

Capital Expenditures

Quarter	CapEx
Q1 24	$10M
Q2 24	$10M
Q3 24	$7M
Q4 24	$8M
Q2 25	$7M
Q3 25	$5M
Q4 25	$997.0K
Q1 26	$1M
Q2 26	$1M
Q3 26	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+44.9%	+20.2%
Q2 24	+37.4%	+29.0%
Q3 24	+29.4%	+11.0%
Q4 24	+25.0%	+9.9%
Q2 25	+32.0%	+70.0%
Q3 25	+27.7%	+18.5%
Q4 25	+30.7%	+57.5%
Q1 26	+33.3%	-20.8%
Q2 26	+25.5%	-16.7%
Q3 26	+25.0%	+19.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 24	$26M	18.0%
Q2 24	$26M	16.9%
Q3 24	$19M	12.2%
Q4 24	$30M	18.8%
Q2 25	$24M	12.3%
Q3 25	$25M	12.8%
Q4 25	$95M	45.2%
Q1 26	$44M	20.3%
Q2 26	$49M	20.4%
Q3 26	$50M	19.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$36M	—	—	$83M
Q2 23	$38M	—	—	$74M
Q3 23	$41M	—	—	$81M
Q4 23	$44M	—	—	$90M
Q1 24	$50M	$34M	$51M	—
Q2 24	$54M	$39M	$53M	—
Q3 24	$49M	$30M	$55M	—
Q4 24	$54M	$39M	$75M	—
Q2 25	$62M	$48M	$67M	—
Q3 25	$66M	$37M	$61M	—
Q4 25	$76M	$92M	$64M	—
Q1 26	$69M	$57M	$62M	—
Q2 26	$73M	$64M	$70M	—
Q3 26	$79M	$62M	$78M	—

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	—	-61.1%	—
Q2 23	—	-39.8%	—
Q3 23	—	-43.7%	—
Q4 23	—	-51.9%	—
Q1 24	44.9%	-20.3%	24.5
Q2 24	37.4%	-21.1%	16.3
Q3 24	29.4%	-9.0%	20.3
Q4 24	25.0%	-14.2%	10.7
Q2 25	32.0%	-5.7%	26.2
Q3 25	27.7%	-11.0%	16.8
Q4 25	30.7%	-36.5%	-5.7
Q1 26	33.3%	-11.2%	22.1
Q2 26	25.5%	-4.0%	21.4
Q3 26	25.0%	-6.6%	18.5

Rule of 40

Revenue Segments

Quarter	Professional Services and Other Revenue	Subscription Revenue	Usage Revenue
Q2 26	$9M	$175M	$58M
Q3 26	$10M	$183M	$57M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 24	$202M	$0	$202M
Q4 24	$147M	$0	$147M
Q1 25	$147M	$0	$147M
Q2 25	$128M	$0	$128M
Q3 25	$134M	$0	$134M
Q4 25	$442M	$0	$442M
Q1 26	$420M	$0	$420M
Q2 26	$471M	$0	$471M
Q3 26	$493M	$0	$493M
Q4 26	$428.8B	$0	$428.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	90M	—	—
Q2 23	90M	0.0%	—
Q3 23	90M	0.0%	—
Q4 23	90M	0.0%	—
Q1 24	33M	-63.6%	-63.6%
Q2 24	33M	0.0%	-63.6%
Q3 24	82M	+151.4%	-8.4%
Q4 24	34M	-58.8%	-62.3%
Q2 25	34M	+1.6%	+5.2%
Q3 25	89M	+157.5%	+171.0%
Q4 25	64M	-27.5%	-21.9%
Q1 26	90M	+40.4%	+166.2%
Q2 26	91M	+0.8%	+164.0%
Q3 26	92M	+0.8%	+3.4%

Shares Outstanding