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ServiceTitan Announces Fiscal Second Quarter Financial Results

1. TTAN reported a 25% increase in total revenue year-over-year. 2. GAAP loss from operations increased to $34.8 million compared to last year. 3. Non-GAAP operating income reached $29.2 million, showing significant operational improvement. 4. Net dollar retention remains strong at over 110% for the second quarter. 5. Fiscal outlook for Q3 realizes revenue projections between $237-$239 million.

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Why Bullish?

The significant revenue growth combined with operational improvements reflects positively on TTAN's performance, similar to past scenarios where growth led to stock price appreciation.

How important is it?

Strong financial results and future guidance can attract investor interest, making it highly relevant to TTAN.

Why Short Term?

The immediate outlook after announcements shows positive sentiment, and investors tend to react quickly to quarterly results.

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CRMADBETWLO
LOS ANGELES, Sept. 04, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (NASDAQ: TTAN), the software platform that powers the trades, today announced financial results for the fiscal second quarter ended July 31, 2025. “I am grateful for the way our team empowered our customers to perform during the seasonally strongest quarter for the trades,” 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.” “This is an exciting time in the trades,” said Vahe Kuzoyan, Co-Founder and President, “We’re making progress on each of our goals this year. Most notably, we are experiencing a change in the large enterprise Commercial market where our multi-year investments are beginning to yield results.” Fiscal Second Quarter 2026 Financial and Operational Highlights:   Fiscal Second Quarter 2026  Fiscal Second Quarter 2025   (in millions, except percentages and GTV) Gross transaction volume (“GTV”) (in billions) $22.9  $19.2 YOY GTV growth  19%  23%       Total revenue $242.1  $193.0 YOY revenue growth  25%  24%Platform revenue $232.7  $185.0 YOY platform revenue growth  26%  25%       GAAP loss from operations $(34.8) $(32.6)Non-GAAP income from operations(1) $29.2  $13.5 Non-GAAP operating margin(1)  12.1%  7.0%       GAAP net cash provided by operating activities $40.3  $25.3 Non-GAAP free cash flow(1) $34.3  $18.7        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 Third Quarter and Fiscal Year 2026 Financial Outlook:For fiscal third quarter 2026 and for the full fiscal year 2026, the Company currently expects:   Fiscal Third Quarter 2026 Full Fiscal Year 2026  (in millions)Total revenue $237 - $239 $935 - $940Non-GAAP income from operations(2) $14 - $15 $74 - $76 _________________________(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 fiscal third 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, September 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 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 fiscal third quarter 2026 ending October 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 Quarterly Report on Form 10-Q for fiscal first quarter 2025 ended April 30, 2025 as filed with the SEC on June 12, 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 second quarter 2026 ended July 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, Inc.press@servicetitan.com Investor ContactJason RechelServiceTitan, Inc.investors@servicetitan.com © 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 July 31,  Six Months Ended July 31,   2025  2024  2025  2024 Revenue:            Platform $232,726  $184,997  $440,708  $348,222 Professional services and other  9,397   7,997   17,107   15,100 Total revenue  242,123   192,994   457,815   363,322 Cost of revenue:            Platform  51,991   49,236   102,028   96,993 Professional services and other  18,783   16,932   36,042   33,523 Total cost of revenue  70,774   66,168   138,070   130,516 Gross profit  171,349   126,826   319,745   232,806 Operating expenses:            Sales and marketing  69,544   58,218   138,767   115,819 Research and development  73,065   62,449   142,205   121,062 General and administrative  63,512   38,769   123,081   81,963 Total operating expenses  206,121   159,436   404,053   318,844 Loss from operations  (34,772)  (32,610)  (84,308)  (86,038)Other income (expense), net            Interest expense  (2,057)  (4,222)  (4,092)  (8,350)Interest income  4,783   1,654   9,723   3,350 Other income (expense), net  185   (17)  686   210 Total other income (expense), net  2,911   (2,585)  6,317   (4,790)Loss before income taxes  (31,861)  (35,195)  (77,991)  (90,828)Provision for income taxes  364   457   598   863 Net loss  (32,225)  (35,652)  (78,589)  (91,691)Accretion of non-convertible preferred stock  —   (13,969)  —   (26,956)Net loss attributable to common stockholders $(32,225) $(49,621) $(78,589) $(118,647)Net loss per share, basic and diluted $(0.35) $(1.43) $(0.86) $(3.44)Weighted-average shares used in computing net lossper share, basic and diluted  91,687,907   34,789,424   91,041,726   34,485,622                           Disaggregated Revenue              Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024 Subscription $174,753  $137,697  $337,470  $263,731 Usage  57,973   47,300   103,238   84,491 Platform revenue  232,726   184,997   440,708   348,222 Professional services and other  9,397   7,997   17,107   15,100 Total revenue $242,123  $192,994  $457,815  $363,322  ServiceTitan, Inc.Condensed Consolidated Balance Sheets(in thousands, except share and per share data)(unaudited)     As of   July 31,  January 31,   2025  2025 Assets      Current assets:      Cash and cash equivalents $471,485  $441,802 Restricted cash  210   711 Accounts receivable, net of allowance of $8,868 and $4,698 as of July 31, 2025 andJanuary 31, 2025, respectively  51,894   44,469 Deferred contract costs, current  12,966   11,554 Contract assets  49,452   45,926 Prepaid expenses  31,980   24,791 Other current assets  4,976   3,513 Total current assets  622,963   572,766 Restricted cash, noncurrent  417   333 Deferred contract costs, noncurrent  12,419   10,608 Property and equipment, net  45,644   56,667 Operating lease right-of-use assets  18,860   24,025 Internal-use software, net  37,982   35,775 Intangible assets, net  192,188   214,952 Goodwill  845,836   845,836 Other assets  7,572   7,686 Total assets $1,783,881  $1,768,648 Liabilities and Stockholders' Equity      Current liabilities:      Accounts payable and other accrued expenses $43,227  $40,182 Accrued personnel related expenses  57,379   80,160 Deferred revenue, current  17,277   16,803 Operating lease liabilities, current  12,848   12,996 Short-term debt  1,073   1,073 Other current liabilities  6,923   1,902 Total current liabilities  138,727   153,116 Operating lease liabilities, noncurrent  40,823   47,327 Long-term debt, net  103,725   104,014 Other noncurrent liabilities  11,192   9,607 Total liabilities  294,467   314,064 Commitments and contingencies             Stockholders' Equity      Preferred stock, par value $0.001, 100,000,000 shares authorized as of July 31, 2025and January 31, 2025. No shares issued and outstanding as of July 31, 2025 andJanuary 31, 2025  —   — Class A common stock, par value $0.001, 1,000,000,000 shares authorized as ofJuly 31, 2025 and January 31, 2025. 79,465,080 shares and 76,644,240 sharesissued and outstanding as of July 31, 2025 and January 31, 2025, respectively  80   77 Class B common stock, par value $0.001, 100,000,000 shares authorized as ofJuly 31, 2025 and January 31, 2025. 13,365,549 shares and 13,404,097 sharesissued and outstanding as of July 31, 2025 and January 31, 2025, respectively  13   13 Class C common stock, par value $0.001, 100,000,000 shares authorized as ofJuly 31, 2025 and January 31, 2025. No sharesissued and outstanding as of July 31, 2025 and January 31, 2025  —   — Additional paid-in capital  2,673,640   2,560,224 Accumulated deficit  (1,184,319)  (1,105,730)Total stockholders' equity  1,489,414   1,454,584 Total liabilities and stockholders' equity $1,783,881  $1,768,648  ServiceTitan, Inc.Condensed Consolidated Statements of Cash Flows(in thousands)(unaudited)     Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024 Cash flows provided by operating activities            Net loss $(32,225) $(35,652) $(78,589) $(91,691)Adjustments to reconcile net loss to net cash provided by operatingactivities            Depreciation and amortization expense  20,035   19,876   39,990   39,607 Amortization of deferred contract costs  3,604   2,806   6,940   5,393 Non-cash operating lease expense  1,406   1,635   2,758   3,407 Stock-based compensation expense  49,307   23,685   93,056   43,624 Loss on impairment and disposal of assets  200   10,143   8,260   30,274 Change in valuation of contingent consideration  —   (105)  —   (135)Deferred income taxes  679   383   1,325   1,121 Amortization of debt issuance costs  128   69   248   127 Provision for credit losses  1,544   1,117   5,267   1,840 Changes in operating assets and liabilities, net of effect of business acquisition:            Accounts receivable  (7,422)  (6,522)  (12,692)  (11,083)Prepaid expenses and other current assets  (10,217)  (5,278)  (8,546)  (3,354)Deferred contract costs  (4,425)  (3,562)  (10,164)  (5,709)Contract assets  (2,185)  (1,378)  (3,526)  (2,449)Other assets  177   63   685   343 Accounts payable and other accrued expenses  (1,068)  (4,053)  2,933   283 Accrued personnel related expenses  18,959   23,827   (21,673)  (3,386)Operating lease liabilities  (3,013)  (2,832)  (6,166)  (3,877)Other liabilities  3,953   (399)  5,190   496 Deferred revenue  903   1,493   474   1,261 Net cash provided by operating activities  40,340   25,316   25,770   6,092 Cash flows used in investing activities            Capitalized internal-use software  (4,930)  (5,415)  (11,402)  (10,200)Purchase of property and equipment  (1,110)  (1,173)  (2,402)  (1,801)Acquisition of business, net of cash acquired  —   —   —   (1,184)Net cash used in investing activities  (6,040)  (6,588)  (13,804)  (13,185)Cash flows provided by (used in) financing activities            Payment of contingent consideration  —   (135)  —   (300)Proceeds from exercise of stock options  17,255   1,774   18,436   3,214 Payment of debt arrangements  (269)  (450)  (537)  (900)Payment of deferred initial public offering costs  (66)  (216)  (599)  (843)Shares repurchased for tax withholding for the settlement of restricted stock units  —   (8,259)  —   (13,565)Net cash provided by (used in) financing activities  16,920   (7,286)  17,300   (12,394)Net change in cash, cash equivalents, and restricted cash  51,220   11,442   29,266   (19,487)Cash, cash equivalents, and restricted cash            Beginning of period  420,892   117,934   442,846   148,863 End of period $472,112  $129,376  $472,112  $129,376  Statement Regarding Use of Non-GAAP Financial Measures In 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. Stock-based compensation expense and related employer payroll taxes. 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.Amortization of acquired intangible assets. 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.Restructuring charges. 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.Loss on operating lease assets. 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.Acquisition-related items. 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. Non-GAAP EPS 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. Free Cash Flow We define free cash flow as GAAP 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, Inc.GAAP to Non-GAAP Reconciliations(unaudited) Non-GAAP Gross Profit and Non-GAAP Gross Margin   Platform  ProfessionalServices and Other  Total   Three Months Ended July 31,  Three Months Ended July 31,  Three Months Ended July 31,   2025  2024  2025  2024  2025  2024   (in thousands) GAAP gross profit $180,735  $135,761  $(9,386) $(8,935) $171,349  $126,826 Stock-based compensation expenseand related employer payroll taxes  1,484   1,385   1,364   1,137   2,848   2,522 Amortization of acquired intangibleassets  5,533   5,533   334   334   5,867   5,867 Loss on operating lease assets  —   1,373   —   675   —   2,048 Non-GAAP gross profit $187,752  $144,052  $(7,688) $(6,789) $180,064  $137,263    Platform  ProfessionalServices and Other  Total   Three Months Ended July 31,  Three Months Ended July 31,  Three Months Ended July 31,   2025  2024  2025  2024  2025  2024 GAAP gross margin  77.7%  73.4%  (99.9)%  (111.7)%  70.8%  65.7%Stock-based compensation expenseand related employer payroll taxes  0.6%  0.7%  14.5%  14.2%  1.2%  1.3%Amortization of acquired intangibleassets  2.4%  3.0%  3.6%  4.2%  2.4%  3.0%Loss on operating lease assets  0.0%  0.7%  0.0%  8.4%  0.0%  1.1%Non-GAAP gross margin*  80.7%  77.9%  (81.8)%  (84.9)%  74.4%  71.1% * Totals may not foot due to rounding.   Platform  ProfessionalServices and Other  Total   Six Months Ended July 31,  Six Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024  2025  2024   (in thousands) GAAP gross profit $338,680  $251,229  $(18,935) $(18,423) $319,745  $232,806 Stock-based compensation expenseand related employer payroll taxes  2,882   2,527   2,748   2,006   5,630   4,533 Amortization of acquired intangibleassets  11,066   10,836   668   1,118   11,734   11,954 Restructuring charges  —   386   —   129   —   515 Loss on operating lease assets  960   4,201   751   1,993   1,711   6,194 Non-GAAP gross profit $353,588  $269,179  $(14,768) $(13,177) $338,820  $256,002    Platform  ProfessionalServices and Other  Total   Six Months Ended July 31,  Six Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024  2025  2024 GAAP gross margin  76.8%  72.1%  (110.7)%  (122.0)%  69.8%  64.1%Stock-based compensation expenseand related employer payroll taxes  0.7%  0.7%  16.1%  13.3%  1.2%  1.2%Amortization of acquired intangibleassets  2.5%  3.1%  3.9%  7.4%  2.6%  3.3%Restructuring charges  0.0%  0.1%  0.0%  0.9%  0.0%  0.1%Loss on operating lease assets  0.2%  1.2%  4.4%  13.2%  0.4%  1.7%Non-GAAP gross margin*  80.2%  77.3%  (86.3)%  (87.3)%  74.0%  70.5% * Totals may not foot due to rounding. Non-GAAP Sales and Marketing Expense   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP sales and marketing expense $69,544  $58,218  $138,767  $115,819 Stock-based compensation expenseand related employer payroll taxes  (7,694)  (4,069)  (13,262)  (7,644)Amortization of acquired intangible assets  (5,515)  (5,606)  (11,030)  (11,056)Restructuring charges  —   —   —   (292)Loss on operating lease assets  —   (1,784)  (1,765)  (5,433)Non-GAAP sales and marketing expense $56,335  $46,759  $112,710  $91,394                   Non-GAAP Research and Development Expense   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP research and development expense $73,065  $62,449  $142,205  $121,062 Stock-based compensation expenseand related employer payroll taxes  (12,703)  (9,851)  (24,966)  (17,609)Acquisition-related items  —   (250)  —   (250)Restructuring charges  —   —   —   (991)Loss on operating lease assets  —   (1,765)  (1,679)  (5,243)Non-GAAP research and development expense $60,362  $50,583  $115,560  $96,969                   Non-GAAP General and Administrative Expense   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP general and administrative expense $63,512  $38,769  $123,081  $81,963 Stock-based compensation expenseand related employer payroll taxes  (15,830)  (7,964)  (28,477)  (15,192)Stock-based compensation expense -Co-Founders performance based RSUs  (13,518)  —   (26,589)  — Acquisition-related items  —   127   —   (1,927)Restructuring charges  —   —   —   (698)Loss on operating lease assets  —   (4,490)  (2,877)  (13,298)Non-GAAP general and administrative expense $34,164  $26,442  $65,138  $50,848                   Non-GAAP Income from Operations and Non-GAAP Operating Margin   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP loss from operations $(34,772) $(32,610) $(84,308) $(86,038)Stock-based compensation expense andrelated employer payroll taxes  39,075   24,406   72,335   44,978 Stock-based compensation expense -Co-Founders performance based RSUs  13,518   —   26,589   — Amortization of acquired intangible assets  11,382   11,473   22,764   23,010 Restructuring charges  —   —   —   2,496 Acquisition-related items  —   123   —   2,177 Loss on operating lease assets  —   10,087   8,032   30,168 Non-GAAP income from operations $29,203  $13,479  $45,412  $16,791    Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024 GAAP operating margin  (14.4)%  (16.9)%  (18.4)%  (23.7)%Stock-based compensation expense andrelated employer payroll taxes  16.1%  12.6%  15.8%  12.4%Stock-based compensation expense -Co-Founders performance based RSUs  5.6%  0.0%  5.8%  0.0%Amortization of acquired intangible assets  4.7%  5.9%  5.0%  6.3%Restructuring charges  0.0%  0.0%  0.0%  0.7%Acquisition-related items  0.0%  0.1%  0.0%  0.6%Loss on operating lease assets  0.0%  5.2%  1.8%  8.3%Non-GAAP operating margin*  12.1%  7.0%  9.9%  4.6% * Totals may not foot due to rounding. Non-GAAP Net Income   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP net loss $(32,225) $(35,652) $(78,589) $(91,691)Stock-based compensation expense andrelated employer payroll taxes  39,075   24,406   72,335   44,978 Stock-based compensation expense -Co-Founders performance based RSUs  13,518   —   26,589   — Amortization of acquired intangible assets  11,382   11,473   22,764   23,010 Restructuring charges  —   —   —   2,496 Acquisition-related items  —   123   —   2,177 Loss on operating lease assets  —   10,087   8,032   30,168 Income tax effects related to the above adjustments(3)  1,095   (420)  (389)  (909)Non-GAAP net income $32,845  $10,017  $50,742  $10,229  (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. Non-GAAP EPS   Three Months Ended July31, 2025(4)  Six Months Ended July31, 2025(4)   (in thousands, except share and per share amounts) Numerator      Non-GAAP net income $32,845  $50,742        Denominator      Weighted-average shares used in computing net loss per share attributable to common stockholders, basic  91,687,907   91,041,726 Effect of dilutive securities: Stock-based awards  7,699,740   7,957,233 Weighted-average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted  99,387,647   98,998,959        GAAP net loss per share, basic and diluted $(0.35) $(0.86)Non-GAAP net income per share, basic $0.36  $0.56 Non-GAAP net income per share, diluted $0.33  $0.51  (4) ServiceTitan has not provided prior year non-GAAP EPS for the comparative three and six month periods ended July 31, 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. Free Cash Flow   Three Months Ended July 31,  Six Months Ended July 31,   2025  2024  2025  2024   (in thousands) GAAP net cash provided by operating activities $40,340  $25,316  $25,770  $6,092 Capitalized internal-use software  (4,930)  (5,415)  (11,402)  (10,200)Purchase of property and equipment  (1,110)  (1,173)  (2,402)  (1,801)Non-GAAP free cash flow $34,300  $18,728  $11,966  $(5,909)

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