ServiceTitan Announces Fiscal Fourth Quarter and Full Year Fiscal 2025 Financial Results
LOS ANGELES – March 13, 2025 – ServiceTitan (NASDAQ: TTAN), the software platform that powers the trades, today announced financial results for the fiscal fourth quarter and full fiscal year ended January 31, 2025.
“The beginning of the new public market era for the trades, for our customers, and for ServiceTitan is off to a good start,” said Ara Mahdessian, co-founder and CEO. “I am proud of the way Titans executed this quarter to cap off a transformative year for our business. We plan to carry this same focused execution into fiscal year 2026.”
“Our goal and growth strategy is to become the operating system for the trades,” said Vahe Kuzoyan, co-founder and President. “Our core residential trades are performing well while our investments in roofing and commercial continue to deliver.”
Fourth Quarter Fiscal 2025 Financial Highlights:
Revenue:
Total revenue increased 29% year-over-year to $209.3 million.
Platform revenue increased 30% year-over-year to $200.1 million.
Loss from Operations:
GAAP loss from operations was ($99.9) million for the fourth quarter of fiscal 2025, compared to ($48.1) million in the fourth quarter of fiscal 2024.
Non-GAAP income from operations was $6.9 million for the fourth quarter of fiscal 2025, compared to non-GAAP income from operations of $2.1 million for the fourth quarter of fiscal 2024¹.
Net Loss:
GAAP net loss was ($100.9) million for the fourth quarter of fiscal 2025, compared to ($51.4) million in the fourth quarter of fiscal 2024.
Non-GAAP net income was $7.5 million for the fourth quarter of fiscal 2025, compared to non-GAAP net loss ($0.8) million for the fourth quarter of fiscal 2024¹.
Full Year Fiscal 2025 Financial Highlights:
Revenue:
Total revenue increased 26% year-over-year to $771.9 million.
Platform revenue increased 27% year-over-year to $739.5 million.
Loss from Operations:
GAAP loss from operations was ($230.0) million for fiscal 2025, compared to ($182.9) million for fiscal 2024.
Non-GAAP income from operations was $25.2 million for fiscal 2025, compared to non-GAAP loss from operations of ($17.1) million for fiscal 2024¹.
Net Loss:
GAAP net loss was ($239.1) million for fiscal 2025, compared to ($195.1) million for fiscal 2024.
Non-GAAP net income was $16.5 million for fiscal 2025, compared to non-GAAP net loss of ($27.4) million for fiscal 2024¹.
Cash:
Cash and cash equivalents totaled $441.8 million as of January 31, 2025.
Net cash generated by operating activities was $15.4 million for the fourth quarter of fiscal 2025, compared to $5.9 million in the fourth quarter of fiscal 2024. Net cash generated by operating activities was $37.1 million for fiscal 2025, compared to net cash used of ($39.7) million for fiscal 2024.
Non-GAAP free cash flow was $10.8 million for the fourth quarter of fiscal 2025, compared to ($2.2) million for the fourth quarter of fiscal 2024¹. Non-GAAP free cash flow was $15.5 million for fiscal 2025, compared to ($84.3) million for fiscal 2024.
Business and Operational Highlights:
Net dollar retention was greater than 110% for the fourth quarter of fiscal 2025.
Gross dollar retention was greater than 95% for the full year fiscal 2025.
Gross Transaction Volume was $17.0 billion for the fourth quarter of fiscal 2025, up 26% year-over-year.
Gross Transaction Volume was $68.5 billion for fiscal 2025, up 23% year-over-year.
Total active customers were ~9,500 as of January 31, 2025, up 18% year-over-year.
Fiscal First Quarter and Fiscal Year 2026 Financial Outlook:
For the first quarter of fiscal 2026, the Company currently expects:
Total revenue in the range of $207 million to $209 million.
Non-GAAP income from operations in the range of $12 million to $13 million².
For the full year fiscal 2026, the Company currently expects:
Total revenue in the range of $895 million to $905 million.
Non-GAAP income from operations in the range of $48 million to $53 million.
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, March 13, 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 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,” “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 first quarter of fiscal year 2026 ending April 30, 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 Prospectus dated December 11, 2024, filed with the SEC on December 12, 2024 and our Quarterly Report on Form 10-Q for the fiscal third quarter ended October 31, 2024. Additional information will be set forth in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025, which should be read in conjunction with this press release and the financial results included herein. 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 Contact Max Wertheimer ServiceTitan, Inc. press@servicetitan.com
Investor Contact Jason Rechel ServiceTitan, Inc. investors@servicetitan.com
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