ServiceTitan, Inc.
For the period ended Jan 31, 2025. Filed Apr 2, 2025.
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FY2025 · Filed Apr 2, 2025
TTAN$82.52+0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(in thousands, except share and per share data)
| Fiscal | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenue: | |||
| Platform | $739,486 | $581,751 | $443,523 |
| Professional services and other | 32,392 | 32,590 | 24,211 |
| Total revenue | 771,878 | 614,341 | 467,734 |
| Cost of revenue: | |||
| Platform | 202,982 | 169,766 | 140,921 |
| Professional services and other | 67,969 | 67,945 | 60,789 |
| Total cost of revenue | 270,951 | 237,711 | 201,710 |
| Gross profit | 500,927 | 376,630 | 266,024 |
| Operating expenses: | |||
| Sales and marketing | 253,349 | 219,994 | 196,775 |
| Research and development | 263,054 | 203,534 | 158,870 |
| General and administrative | 214,476 | 135,966 | 132,235 |
| Total operating expenses | 730,879 | 559,494 | 487,880 |
| Loss from operations | (229,952) | (182,864) | (221,856) |
| Other expense, net | |||
| Interest expense | (15,517) | (16,436) | (54,542) |
| Interest income | 8,765 | 7,067 | 1,624 |
| Loss on extinguishment of debt | — | — | (9,607) |
| Other income (expense), net | (72) | 1,224 | 1,801 |
| Total other expense, net | (6,824) | (8,145) | (60,724) |
| Loss before income taxes | (236,776) | (191,009) | (282,580) |
| Provision for income taxes | 2,318 | 4,136 | (13,057) |
| Net loss | (239,094) | (195,145) | (269,523) |
| Adjustments to net loss attributable to common stockholders (see Note 15) | (120,631) | (45,873) | (13,478) |
| Net loss attributable to common stockholders | $(359,725) | $(241,018) | $(283,001) |
| Net loss per share, basic and diluted | $(8.53) | $(7.24) | $(9.31) |
| Weighted-average shares used in computing net loss per share, basic and diluted | 42,148,552 | 33,267,131 | 30,410,373 |
Consolidated Statements of Non-Convertible Preferred Stock, Redeemable Convertible Preferred Stock, and Stockholders’ Equity (Deficit)
(in thousands, except share data)
| Non-Convertible · Redeemable Convertible · Common Stock · Additional · Notes Receivable · Total | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock · Preferred Stock · Class A · Class B · Paid-in · for exercise of · Accumulated · Stockholders’ | ||||||||||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Capital · stock options · Deficit · Equity (Deficit) | ||||||||||||||||||
| Balance as of January 31, 2022 | — | $ | - | 36,459,511 | $889,352 | 30,030,960 | $30 | $ | - | $ | - | $158,636 | $(2,311) | $(401,968) | $(245,613) | |||
| Issuance of Series H redeemable convertible preferred stock, net of issuance costs | — | — | 5,604,318 | 472,935 | — | — | — | — | — | — | — | — | ||||||
| Issuance of non-convertible preferred stock, net of issuance costs | 250,000 | 173,924 | — | — | — | — | — | — | — | — | — | — | ||||||
| Accretion of non-convertible preferred stock | — | 13,478 | — | — | — | — | — | — | (13,478) | — | — | (13,478) | ||||||
| Issuance of common stock, acquisition consideration | — | — | — | — | 818,962 | 1 | — | — | 45,288 | — | — | 45,289 | ||||||
| Exercise of warrants | — | — | — | — | 1,262,516 | 1 | — | — | 75,265 | — | — | 75,266 | ||||||
| Exercise of stock options | — | — | — | — | 1,108,823 | 1 | — | — | 6,522 | — | — | 6,523 | ||||||
| Settlement of restricted stock units | — | — | — | — | 197,738 | — | — | — | — | — | — | — | ||||||
| Shares repurchased for tax withholding on settlement of restricted stock units | — | — | — | — | (59,220) | — | — | — | (3,385) | — | — | (3,385) | ||||||
| Repurchases of shares upon early exercise of stock options for cash, net of issuances | — | — | — | — | (546,284) | — | — | — | — | — | — | — | ||||||
| Reclassification from liabilities upon vesting of early exercised stock options | — | — | — | — | — | — | — | — | 1,695 | — | — | 1,695 | ||||||
| Repayment of notes receivable | — | — | — | — | — | — | — | — | 2,311 | — | 2,311 | |||||||
| Stock-based compensation | — | — | — | — | — | — | — | — | 65,764 | — | — | 65,764 | ||||||
| Net loss | — | — | — | — | — | — | — | — | — | (269,523) | (269,523) | |||||||
| Balance as of January 31, 2023 | 250,000 | $187,402 | 42,063,829 | $1,362,287 | 32,813,495 | $33 | — | $— | $336,307 | $— | $(671,491) | $(335,151) | ||||||
| Issuance of Series H-1 redeemable convertible preferred stock, net of issuance costs | — | — | 402,026 | 33,591 | — | — | — | — | — | — | — | — | ||||||
| Accretion of non-convertible preferred stock | — | 45,873 | — | — | — | — | — | — | (45,873) | — | — | (45,873) | ||||||
| Adjustment to non-convertible preferred stock and warrant issuance costs | — | 271 | — | — | — | — | — | — | 100 | — | — | 100 | ||||||
| Exercise of stock options | — | — | — | — | 849,938 | 1 | — | — | 9,702 | — | — | 9,703 | ||||||
| Settlement of restricted stock units | — | — | — | — | 789,291 | — | — | — | — | — | — | — | ||||||
| Shares repurchased for tax withholding on settlement of restricted stock units | — | — | — | — | (267,336) | — | — | — | (16,506) | — | — | (16,506) | ||||||
| Reclassification from liabilities upon vesting of early exercised stock options | — | — | — | — | — | — | — | — | 523 | — | — | 523 | ||||||
| Stock-based compensation | — | — | — | — | — | — | — | — | 104,486 | — | — | 104,486 | ||||||
| Net loss | — | — | — | — | — | — | — | — | — | — | (195,145) | (195,145) | ||||||
| Balance as of January 31, 2024 | 250,000 | $233,546 | 42,465,855 | $1,395,878 | 34,185,388 | $34 | — | $— | $388,739 | $— | $(866,636) | $(477,863) | ||||||
| Impact of adopting ASU 2020-06 (1) | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Issuance of common stock upon initial public offering, net of underwriting costs and offering expenses | — | — | — | — | 10,120,000 | 10 | — | — | 674,041 | — | — | 674,051 | ||||||
| Conversion of redeemable convertible preferred stock to common stock upon initial public offering | — | — | (42,465,855) | (1,395,878) | 44,257,289 | 44 | — | — | 1,395,834 | — | — | 1,395,878 | ||||||
| Conversion of Class A to Class B common stock | — | — | — | — | (13,404,097) | (13) | 13,404,097 | 13 | — | — | — | — | ||||||
| Accretion of non-convertible preferred stock | — | 48,703 | — | — | — | — | — | — | (48,703) | — | — | (48,703) | ||||||
| Repayment of non-convertible preferred stock | (250,000) | (282,249) | — | — | — | — | — | — | (28,313) | — | — | (28,313) | ||||||
| Issuance of common stock, acquisition consideration | — | — | — | — | 373,118 | 1 | — | — | 23,469 | — | — | 23,470 | ||||||
| Exercise of stock options | — | — | — | — | 631,119 | 1 | — | — | 6,654 | — | — | 6,655 | ||||||
| Settlement of restricted stock units | — | — | — | — | 791,097 | — | — | — | — | — | — | — | ||||||
| Shares repurchased for tax withholding on settlement of restricted stock units | — | — | — | — | (309,674) | — | — | — | (18,963) | — | — | (18,963) | ||||||
| Reclassification from liabilities upon vesting of early exercised stock options | — | — | — | — | — | — | — | — | 204 | — | — | 204 | ||||||
| Stock-based compensation | — | — | — | — | — | — | — | — | 167,262 | — | — | 167,262 | ||||||
| Net loss | — | — | — | — | — | — | — | — | — | — | (239,094) | (239,094) | ||||||
| Balance as of January 31, 2025 | — | $— | — | $— | 76,644,240 | $77 | 13,404,097 | $13 | $2,560,224 | $ | - | $(1,105,730) | $1,454,584 | |||||
(1) See further discussion in Note 2.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.