# ServiceTitan (TTAN) Q2 2026 Financial Results Summary
ServiceTitan (NASDAQ: TTAN) announced its financial results for the fiscal second quarter ended July 31, 2025, on September 4, 2025. The results reflect strong performance amidst a competitive landscape, underscoring the company’s commitment to its customers and strategic market positioning.
## Key Financial and Operational Highlights
– **Gross Transaction Volume (GTV)**
– Q2 2026: $22.9 billion
– Q2 2025: $19.2 billion
– Year-over-Year (YOY) GTV growth: **19%** decrease from **23%**.
– **Total Revenue**
– Q2 2026: $242.1 million
– Q2 2025: $193.0 million
– YOY revenue growth: **25%** (up from **24%**).
– **Platform Revenue**
– Q2 2026: $232.7 million
– Q2 2025: $185.0 million
– YOY platform revenue growth: **26%** (up from **25%**).
– **GAAP Loss from Operations**
– Q2 2026: $(34.8) million
– Q2 2025: $(32.6) million (an increase in losses).
– **Non-GAAP Income from Operations**
– Q2 2026: $29.2 million
– Q2 2025: $13.5 million
– Growth in Non-GAAP operating margin: **12.1%** (up from **7.0%**).
– **GAAP Net Cash Provided by Operating Activities**
– Q2 2026: $40.3 million
– Q2 2025: $25.3 million
– **Non-GAAP Free Cash Flow**
– Q2 2026: $34.3 million
– Q2 2025: $18.7 million
– **Net Dollar Retention**
– Q2 2026: Greater than 110%
– Q2 2025: Greater than 110%
## Outlook for Fiscal Year 2026
– **Fiscal Third Quarter 2026 Expected Revenue**: $237 – $239 million
– **Full Fiscal Year 2026 Expected Revenue**: $935 – $940 million
– **Fiscal Third Quarter 2026 Expected Non-GAAP Income from Operations**: $14 – $15 million
– **Full Fiscal Year 2026 Expected Non-GAAP Income from Operations**: $74 – $76 million
## Additional Information
– ServiceTitan did not declare a quarterly dividend for this period.
– No share repurchase program was mentioned in this report.
The financial results for Q2 2026 illustrate ServiceTitan’s ongoing dedication to growth and efficiency within a robust economic environment for the trades. The increase in revenue, platform performance, and positive cash flow indicators suggest a strong market response to the company’s strategic initiatives and product offerings. The consistency in net dollar retention also speaks to customer satisfaction and loyalty, crucial for continued growth and market penetration.
Here are the extracted tables from the press release:
### ServiceTitan, Inc. Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited)
| Revenue: | Three Months Ended July 31, | Six Months Ended July 31, | ||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| 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 loss per 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, | |||
| 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)
| Assets | As of | |
|---|---|---|
| July 31, | January 31, | |
| 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 and January 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, 2025 and January 31, 2025. No shares issued and outstanding as of July 31, 2025 and January 31, 2025 | $— | $— |
| Class A common stock, par value $0.001, 1,000,000,000 shares authorized as of July 31, 2025 and January 31, 2025. 79,465,080 shares and 76,644,240 shares issued 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 of July 31, 2025 and January 31, 2025. 13,365,549 shares and 13,404,097 shares issued 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 of July 31, 2025 and January 31, 2025. No shares issued 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 |
