ServiceTitan, Inc.
For the period ended Jan 31, 2025. Filed Apr 2, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 2, 2025
TTAN$82.29-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Fiscal | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows provided by (used in) operating activities | |||
| Net loss | $(239,094) | $(195,145) | $(269,523) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||
| Depreciation and amortization expense | 80,221 | 80,989 | 57,653 |
| Amortization of deferred contract costs | 11,471 | 9,402 | 6,386 |
| Noncash operating lease expense | 6,340 | 7,612 | 7,719 |
| Stock-based compensation expense | 163,729 | 102,454 | 64,149 |
| Loss on impairment and disposal of assets | 39,358 | 5,423 | 277 |
| Abandoned offering costs | — | — | 5,563 |
| Change in valuation of contingent consideration | (135) | (1,100) | (1,105) |
| Deferred income taxes | 1,182 | 1,826 | (14,514) |
| Amortization of debt issuance costs | 327 | 141 | 5,432 |
| Loss on extinguishment of debt | — | — | 9,607 |
| Gain on sale of intangibles | — | (1,224) | — |
| Provision for credit losses | 3,688 | 2,649 | 391 |
| Changes in operating assets and liabilities, net of effect of business acquisition: | |||
| Accounts receivable | (17,686) | (7,789) | (4,454) |
| Prepaid expenses and other current assets | (2,863) | (3,351) | (1,115) |
| Deferred contract costs | (15,781) | (12,595) | (11,063) |
| Contract assets | (6,597) | (11,840) | (10,177) |
| Other assets | 2,661 | (1,889) | (3,467) |
| Accounts payable and other accrued expenses | (8,980) | (2,768) | 6,877 |
| Accrued personnel-related expenses | 23,165 | (962) | 18,088 |
| Operating lease liabilities | (9,418) | (9,247) | 9,276 |
| Other liabilities | 2,133 | (2,657) | 1,529 |
| Deferred revenue | 3,332 | 369 | 1,723 |
| Net cash provided by (used in) operating activities | 37,053 | (39,702) | (120,748) |
| Cash flows provided by (used in) investing activities | |||
| Capitalized internal-use software | (17,799) | (15,743) | (15,480) |
| Purchase of property and equipment | (3,800) | (28,354) | (73,960) |
| Cash received for sale of intangible assets | — | 2,739 | — |
| Deposits for property and equipment | — | (518) | (2,530) |
| Repayment of loan to employee | — | 1,529 | 515 |
| Acquisition of business, net of cash acquired | (1,184) | — | (589,727) |
| Net cash used in investing activities | (22,783) | (40,347) | (681,182) |
| Cash flows provided by (used in) financing activities | |||
| Payment of contingent consideration | (300) | (835) | (675) |
| Proceeds from exercise of stock options | 6,655 | 9,703 | 6,753 |
| Cash paid for repurchases of early exercised options | — | — | (4,721) |
| Proceeds from issuance of Series H redeemable convertible preferred stock | — | — | 473,964 |
| Payment of Series H convertible preferred stock issuance costs | — | — | (1,029) |
| Proceeds from issuance of Series H-1 redeemable convertible preferred stock | — | 34,000 | — |
| Payment of Series H-1 convertible preferred stock issuance costs | — | (409) | — |
| Proceeds from issuance of non-convertible preferred stock and warrants | — | — | 250,000 |
| Payments of non-convertible preferred stock and warrants | — | — | (810) |
| Proceeds from debt arrangements | — | — | 905,000 |
| Proceeds from issuance of common stock in initial public offering, net of underwriting costs | 682,952 | — | — |
| Repayment of non-convertible preferred stock | (310,562) | — | — |
| Payment of debt arrangements | (71,618) | (1,350) | (725,000) |
| Payment of debt issuance costs | — | — | (17,848) |
| Costs associated with initial public offering | (8,451) | (334) | (2,031) |
| Shares repurchased for tax withholding for the settlement of restricted stock units | (18,963) | (16,506) | (3,385) |
| Proceeds from repayment of notes receivable for exercise of stock options | — | — | 8,815 |
| Net cash provided by financing activities | 279,713 | 24,269 | 889,033 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 293,983 | (55,780) | 87,103 |
| Cash, cash equivalents, and restricted cash | |||
| Beginning of period | 148,863 | 204,643 | 117,540 |
| End of period | $442,846 | $148,863 | $204,643 |
| Fiscal | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosures of other cash flow information: | |||
| Cash paid for interest expense | $16,371 | $14,697 | $48,751 |
| Cash paid for amounts included in the measurement of lease liabilities | $12,877 | $14,591 | $10,925 |
| Cash paid for income taxes | $1,726 | $1,837 | $861 |
| Tenant improvements received from lessor | $1,127 | $3,944 | $18,396 |
| Noncash investing and financing activities: | |||
| Issuance of common stock in consideration for business acquisition | $23,470 | $— | $45,289 |
| Capitalized internal-use software additions included in accrued expenses | $2,746 | $1,441 | $2,035 |
| Stock-based compensation capitalized in internal-use software | $3,533 | $2,032 | $1,615 |
| Property and equipment purchases included in accounts payable and accrued expenses | $68 | $16 | $6,800 |
| Contingent consideration for acquisition included in accounts payable and accrued operating expenses and other liabilities | $— | $435 | $2,370 |
| Reclassification from liabilities to additional paid-in capital upon vesting of early exercised stock options | $204 | $523 | $1,695 |
| Conversion of preferred stock to common stock | $1,395,878 | $— | $— |
| Costs associated with initial public offering included in accrued expenses | $450 | $3,407 | $2,572 |
| Debt issuance costs included in accrued expenses | $— | $— | $1,727 |
| Right-of-use assets obtained in exchange for lease obligations | $1,217 | $3,293 | $669 |
| Reduction in right-of-use asset and lease liability due to reduction in lease payments | $1,057 | $— | $— |
| Change in asset retirement obligations | $66 | $359 | $1,666 |
| Accretion of non-convertible preferred stock | $48,703 | $45,873 | $13,478 |
| Reconciliation of cash, cash equivalents, and restricted cash within consolidated balance sheets: | |||
| Cash and cash equivalents | $441,802 | $146,710 | $202,490 |
| Restricted cash | $1,044 | $2,153 | $2,153 |
| Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows | $442,846 | $148,863 | $204,643 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.