ServiceTitan Reports 27% Revenue Growth to $215.7 Million with Improved Net Loss

ServiceTitan, Inc. reported significant financial performance for the three months ending April 30, 2025, with total revenue reaching $215.7 million, a 27% increase from $170.3 million in the same period last year. The platform revenue, which constitutes the majority of the company's income, rose to $208.0 million, up from $163.2 million, driven primarily by a 29% increase in subscription revenue. Professional services and other revenue also saw a 9% increase, totaling $7.7 million. Despite the revenue growth, the company reported a net loss of $46.4 million, an improvement from the $56.0 million loss recorded in the prior year.

In terms of operational metrics, ServiceTitan processed $17.7 billion in gross transaction volume (GTV) during the quarter, compared to $14.5 billion in the previous year, reflecting a strong demand for its platform among trades businesses. The company’s customer base continues to expand, with a net dollar retention rate exceeding 110%, indicating that existing customers are increasing their spending on the platform. The total employee headcount has also grown, contributing to increased operational costs.

ServiceTitan's operating expenses increased to $197.9 million, up from $159.4 million, largely due to higher sales and marketing expenses, which rose by 20% to $69.2 million. Research and development expenses also increased by 18% to $69.1 million, reflecting the company's commitment to enhancing its product offerings. General and administrative expenses surged by 38% to $59.6 million, driven by increased personnel costs and stock-based compensation, particularly related to performance-based restricted stock units granted to the co-founders.

The company continues to focus on strategic growth initiatives, including the integration of artificial intelligence and machine learning into its platform, which is expected to enhance customer engagement and operational efficiency. ServiceTitan's cash and cash equivalents stood at $420.3 million as of April 30, 2025, with no outstanding borrowings under its revolving credit facility, providing a solid liquidity position to support future growth. Looking ahead, the company anticipates continued revenue growth driven by increased adoption of its platform and expansion into new trade verticals, while also managing operational costs effectively.