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ServiceTitan Inc. (TTAN+4.57%) has filed its annual report on Form 10-K for the fiscal year ended January 31, 2025 filing.
The report details ServiceTitan's financial performance, highlighting a total revenue of $771.9 million, an increase from $614.3 million in the previous year. The company's platform revenue grew by 27%, driven by increased subscription and usage-based revenue.
ServiceTitan reported a net loss of $239.1 million, compared to a net loss of $195.1 million in the prior year. The loss was attributed to increased operating expenses, including sales and marketing, research and development, and general and administrative costs.
The company completed its initial public offering in December 2024, raising $674.1 million in net proceeds. The IPO resulted in the conversion of all outstanding shares of redeemable convertible preferred stock into Class A common stock.
ServiceTitan's operating expenses totaled $730.9 million, with significant investments in sales and marketing, research and development, and general and administrative functions to support business growth.
The company recorded a gross profit of $500.9 million, with a gross margin of 65%. Platform gross margin improved to 73%, reflecting efficiencies in delivering services at scale.
ServiceTitan's balance sheet as of January 31, 2025, reported total assets of $1.77 billion, with cash and cash equivalents of $441.8 million.
The report outlines ServiceTitan's strategic priorities, including expanding its customer base, increasing gross transaction volume on its platform, and continuing to innovate and develop new products.
ServiceTitan acknowledges risks related to competition, economic conditions, and technological changes that could impact its business operations and financial results.
The company emphasizes its commitment to enhancing its platform's functionalities and expanding its market presence, both domestically and internationally.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ServiceTitan Inc. annual 10-K report dated April 2, 2025. To report an error, please email earnings@qz.com.