ServiceTitan, Inc. reported significant financial results for the third quarter of fiscal 2025, ending October 31, 2025, with total revenue reaching $249.2 million, a 25% increase from $199.3 million in the same period last year. The platform revenue, which constitutes the majority of the company's income, rose to $239.6 million, up from $191.2 million, driven primarily by a 26% increase in subscription revenue. Despite the revenue growth, the company recorded a net loss of $39.5 million, an improvement from a net loss of $46.5 million in the prior year, reflecting ongoing investments in growth and operational expansion.
In terms of operational metrics, ServiceTitan processed $21.7 billion in gross transaction volume (GTV) during the quarter, compared to $17.8 billion in the same quarter of the previous year. The company’s customer base continues to expand, with a net dollar retention rate exceeding 110%, indicating strong customer loyalty and growth in existing accounts. The total headcount increased as the company continues to invest in its workforce to support its growth strategy.
ServiceTitan's operating expenses for the quarter were $218.6 million, up from $174.0 million a year earlier, with notable increases in sales and marketing expenses, which rose by 15% to $78.3 million. Research and development expenses also increased by 19% to $78.5 million, reflecting the company's commitment to enhancing its platform and developing new products. General and administrative expenses surged by 53% to $61.8 million, largely due to increased stock-based compensation and consulting costs.
Strategically, ServiceTitan completed the acquisition of Conduit Tech, Inc. for $19.8 million, which is expected to enhance its offerings in HVAC design and sales proposal tools. The company continues to focus on integrating artificial intelligence and machine learning into its platform to improve customer experience and operational efficiency. Looking ahead, ServiceTitan anticipates continued revenue growth driven by increased GTV, customer expansion, and the introduction of new products, while managing its operational costs to improve profitability. The company maintains a strong liquidity position with cash and cash equivalents of $493.2 million as of the end of the quarter, alongside a revolving credit facility of $140 million available for future needs.
About ServiceTitan, Inc.
ServiceTitan is a cloud-based operating system designed specifically for trades businesses, including plumbing, HVAC, roofing, and other field service providers. It streamlines workflows such as scheduling, dispatching, CRM, payments, and inventory management. Leveraging extensive industry data and AI, it enhances operational efficiency, customer experience, and growth for small to large trades companies worldwide. Its integrated platform supports end-to-end business management and industry-specific digital transformation.
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