Servicetitan, Inc. · NASDAQ:TTAN

Servicetitan — Q2 2026 Earnings Presentation

49 slides from Servicetitan's earnings presentation, Sep 4, 2025

  1. Slide 1: Investor Presentation Fall 2025 | Q2FY26

    Investor Presentation Fall 2025 | Q2FY26

  2. Slide 2: Forward-Looking Statements & Other Disclaimers

    Forward-Looking Statements & Other Disclaimers This presentation contains forward-looking statements within the meaning of within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-

  3. Slide 3: ServiceTitan Q2FY26 Highlights

    ServiceTitan Q2FY26 Highlights $242M 25% $23B 19% Q2’FY26 Total Revenue Q2’FY26 YoY Revenue Q2’FY26 YoY GTV Q2’FY26 GTV Growth Growth 26% >110% 80.7% 12.1% Q2’FY26 YoY Platform Q2FY26 Net Dollar Q2’FY26 Non-GAAP Q2’FY26 Non-GAAP Revenue Growth Retention Rate Platform Gross Margin Operating Margin Pl

  4. Slide 4: The Operating System that Powers the Trades

    The Operating System that Powers the Trades 4

  5. Slide 5: We are maniacally focused on the success of our customers

    We are maniacally focused on the success of our customers 5

  6. Slide 6: Investment Highlights

    Investment Highlights 1 Massive, Durable Market 2 Platform Leadership 3 Expanding Moat 4 Multiple Growth Vectors 5 Efficient Operating Model 6

  7. Slide 7: Massive, Durable Market

    SS Massive, Durable Market

  8. Slide 8: The Trades Keep Society Running

    Chimney Massive, Durable Market 1 The Trades Keep Society Running Roofing HVAC Plumbing Air Ducts / HVAC Windows Roofing Windows Elevators Renovation Painting Landscaping Flooring Janitorial Electrical Pool Lawncare Landscaping 8

  9. Slide 9: We Address ~$650Bn of the Trades Industry Spend

    Massive, Durable Market 1 We Address ~$650Bn of the Trades Industry Spend Approximate Revenue Generated by Trades Businesses (GTV): ~$1.5 Tn All Addressable Trades and Markets 2 Not Addressed Today Heavy Commercial & Construction 3 Down-Market 4 Additional Trades 5 ~$650Bn Trades and Markets We Serv

  10. Slide 10: We Have a Substantial Revenue Opportunity in our Current SAM and TAM

    Massive, Durable Market 1 We Have a Substantial Revenue Opportunity in our Current SAM and TAM Our Revenue Opportunity: TAM Approximate Revenue Generated by Trades Businesses (GTV) x $30Bn+ 6 Amount Spent on ServiceTitan Solutions as a % of GTV (Effective Earn Rate)7 Not Addressed Today Heavy Commer

  11. Slide 11: Platform Leadership & Moat

    Platform Leadership & Moat 11

  12. Slide 12: Our Platform Helps Our Customers Widen the Top of the Funnel

    Platform Leadership 2 Our Platform Helps Our Customers Widen the Top of the Funnel and Accelerate Progress Through the Funnel Residential Commercial Win More Lead Targeting Estimate Efficiently Business Marketing Optimization Lead Generation Create Proposals Book Job Operate Smart Dispatching Project

  13. Slide 13: We Solve Key Workflows with Our Full-Service Platform

    Platform Leadership 2 We Solve Key Workflows with Our Full-Service Platform Customer Field Enterprise Human Relationship Service Resource Capital FinTech Management Management Planning Management (CRM) (FSM) (ERP) (HCM) Platform Workflows We Address Lead Generation Book Job Dispatch Tech(s) Perform

  14. Slide 14: Every Customer Starts with Our Core Product, and We Have Several High-ROI Add-On Products

    Platform Leadership 2 Every Customer Starts with Our Core Product, and We Have Several High-ROI Add-On Products Platform Revenue Additional Subscription Products % of Transaction (Net Basis) Pro FinTech Marketing Pro Scheduling Pro Contact Center Pro Dispatch Pro Credit Card Processing Pricebook Pro

  15. Slide 15: We Sit At the Center of the Trades Ecosystem

    Expanding Moat 3 We Sit At the Center of the Trades Ecosystem Financing Partners End Customers Suppliers Technician Owner CSR Dispatcher Finance / Warehouse Admin Industry Manager Integrations Associations 15

  16. Slide 16: We Empower Some of the Largest Players in the Industry

    Expanding Moat 3 We Empower Some of the Largest Players in the Industry Trends in the Industry PE Consolidation of Trades Contractors • Benefits ServiceTitan as they standardize on our platform • Pulls us into new trades Large Getting Larger • Increasing # of locations, technicians • Benefits Servic

  17. Slide 17: Multiple Vectors for Growth

    Multiple Vectors for Growth 17

  18. Slide 18: We Have Consistently Added Capabilities and Products That Are Increasingly Hard to Replicate

    Multiple Growth Vectors 4 We Have Consistently Added Capabilities and Products That Are Increasingly Hard to Replicate 2013 2017 2019 2020 2022 2024 Continuously adding CRM Incremental Trades-Specific Capabilities trades-specific FSM (e.g. equipment tracking for HVAC, recurring billing for Pool, etc)

  19. Slide 19: The Magic is in the Integration

    Multiple Growth Vectors 4 The Magic is in the Integration Marketing Pro Drive More Leads Sales Schedule Pricebook Convert More Pro Pro Leads into Contact Center Appointments Core Contact Dispatch Increase Win Center Pro Rate and Pro Fintech Average Ticket Fleet Pro Increase Efficiency 19

  20. Slide 20: Our AI Capabilities Drive Significant ROI and Monetization

    Multiple Growth Vectors 4 Our AI Capabilities Drive Significant ROI and Monetization 3 Pillars of Our AI Strategy Proprietary Scheduling Pro Leverages customer data and Data analytics to demonstrate real-time availability Automate End-to-End Tasks Platform Drive Insights Dispatch Pro Analyzes techni

  21. Slide 21: Our Go to Market Engine is Tailored to Grow Efficiently

    Multiple Growth Vectors 4 Our Go to Market Engine is Tailored to Grow Efficiently Acquire Activate Expand Inbound • High Velocity Increase number of techs Investment to promote success • Marketing-Driven on platform • Referrals Price increases • Community evangelism Wall-to-wall core deployment Dedi

  22. Slide 22: Efficient Operating Model

    Efficient Operating Model 22

  23. Slide 23: Efficient and Scalable Operating Model

    Efficient Operating Model 5 Efficient and Scalable Operating Model • Less customer support as customers have longer tenure on the platform ~80.7% Gross Margin • High margin profile of Pro & FinTech products Q2’FY26 Non-GAAP Platform Gross Margin • Improvements in efficiency through R&D investments Unit

  24. Slide 24: Strong Total Annual Revenue Growth

    Efficient Operating Model 5 Strong Total Annual Revenue Growth In $MM YoY Growth % 24% 24% 29% 27% 25% Usage Subscription Services Note: Please refer to pages 31-33 for definitions and methodologies. 24

  25. Slide 25: Consistent Subscription Revenue Growth

    Efficient Operating Model 5 Consistent Subscription Revenue Growth In $MM YoY Growth % 27% 27% 31% 29% 27% Note: Please refer to pages 31-33 for definitions and methodologies. 25

  26. Slide 26: Steady YoY GTV Growth With Seasonal Impact in Q2

    Efficient Operating Model 5 Steady YoY GTV Growth With Seasonal Impact in Q2 Steady Usage Revenue as a % of GTV YoY Growth % 23% 20% 26% 22% 19% Usage Revenue as a Proportion of GTV Note: Please refer to pages 31-33 for definitions and methodologies. 26

  27. Slide 27: Expanding Overall Gross Margins as Platform Revenue Grows Faster than Services Revenue

    Efficient Operating Model 5 Expanding Overall Gross Margins as Platform Revenue Grows Faster than Services Revenue Non-GAAP Platform Gross Margin Total Non-GAAP Gross Margin 0% Non-GAAP Professional Services and Other Gross Margin Note: Please refer to pages 31-49 for definitions and a reconciliation

  28. Slide 28: Consistent Non-GAAP Operating Margin Expansion

    Efficient Operating Model 5 Consistent Non-GAAP Operating Margin Expansion Non-GAAP Operating Margin (%) Note: Please refer to pages 31-49 for definitions and a reconciliation of non-GAAP metrics to the nearest GAAP figure. 28

  29. Slide 29: Long Term Non-GAAP Target Operating Model

    Efficient Operating Model 5 Long Term Non-GAAP Target Operating Model FY2025 Q2’FY26 Long Term Non-GAAP Gross Margin (%) 70% 74% ~77%1 Non-GAAP Sales & Marketing 26% 23% 20-22%1 (% of Rev.) Non-GAAP Research & Development 27% 25% 20-22% (% of Rev.) Non-GAAP General & Administrative 14% 14% ~10% (% of

  30. Slide 30: Appendix

    Appendix 30

  31. Slide 31: Definitions

    Definitions Active Customers We define a customer as a parent organization, which may have multiple locations, brands or subsidiaries, that has been billed in the prior three months. Active Customers are customers with over $10,000 of Annualized Billings. Annualized Billings We define Annualized Bil

  32. Slide 32: Definitions (Cont'd)

    Definitions (Cont’d) Non-GAAP Gross Profit Non-GAAP gross profit represents GAAP gross profit, excluding stock-based compensation expense and related employer payroll taxes, amortization of acquired intangible assets, restructuring charges, loss on operating lease assets and acquisition-related item

  33. Slide 33: Definitions (Cont'd)

    Definitions (Cont’d) Non-GAAP Operating Margin Non-GAAP operating margin represents GAAP operating margin, excluding stock-based compensation expense and related employer payroll taxes, amortization of acquired intangible assets, restructuring charges, acquisition-related costs, loss on operating le

  34. Slide 34: Disaggregated Revenue

    Disaggregated Revenue Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) Subscription $ 78,915 $ 87,517 $ 93,671 $ 98,951 $ 108,824 $ 114,311 $ 119,398 $ 126,034 $ 137,697 $ 145,282 $ 156,674 $ 162,717 $ 1

  35. Slide 35: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Platform Gross Profit $ 75,465 $ 80,257 $ 82,091 $ 87,090 $ 105,141 $ 109,619 $ 110,135 $ 115,468 $ 135,761 $ 138,986

  36. Slide 36: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP Platform Gross Margin 69.3% 68.5% 67.6% 67.8% 71.2% 72.3% 71.5% 70.7% 73.4% 72.7% 73.1% 75.9% 77.7% Stock-based compensation expense

  37. Slide 37: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Professional Services and Other Gross Profit $ (8,932) $ (10,423) $ (9,206) $ (10,160) $ (8,421) $ (6,851) $ (9,923)

  38. Slide 38: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP Professional Services and Other Gross Profit Margin -187.6% -156.4% -115.8% -126.6% -101.1% -81.3% -127.2% -133.6% -111.7% -111.8% -

  39. Slide 39: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Gross Profit $ 66,533 $ 69,834 $ 72,885 $ 76,930 $ 96,720 $ 102,768 $ 100,212 $ 105,980 $ 126,826 $ 129,945 $ 138,176

  40. Slide 40: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP Gross Margin 58.6% 56.4% 56.3% 56.4% 62.0% 64.2% 61.9% 62.2% 65.7% 65.2% 66.0% 68.8% 70.8% Stock-based compensation expense and rela

  41. Slide 41: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Sales and Marketing Expenses $ 43,568 $ 50,877 $ 51,977 $ 50,410 $ 52,798 $ 60,097 $ 56,689 $ 57,601 $ 58,218 $ 67,79

  42. Slide 42: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP Sales and Marketing Expenses (% of Revenue) 38% 41% 40% 37% 34% 38% 35% 34% 30% 34% 33% 32% 29% Stock-based compensation expense and

  43. Slide 43: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Research and Development Expenses $37,610 $41,348 $44,386 $45,701 $54,319 $49,094 $54,420 $58,613 $62,449 $65,935 $76

  44. Slide 44: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP Research and Development Expenses (% of Revenue) 33% 33% 34% 33% 35% 31% 34% 34% 32% 33% 36% 32% 30% Stock-based compensation expens

  45. Slide 45: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP General and Administrative Expenses $ 30,920 $ 30,619 $ 38,013 $ 30,157 $ 38,892 $ 29,723 $ 37,194 $ 43,194 $ 38,769

  46. Slide 46: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 GAAP General and Administrative Expenses (% of Revenue) 27% 25% 29% 22% 25% 19% 23% 25% 20% 20% 44% 28% 26% Stock-based compensation expe

  47. Slide 47: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Income (Loss) From Operations $ (45,565) $ (53,010) $ (61,491) $ (49,338) $ (49,289) $ (36,146) $ (48,091) $ (53,428)

  48. Slide 48: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q2 FY'23 Q3 FY'23 Q4 FY'23 Q1 FY'24 Q2 FY'24 Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 LTM GAAP Operating Margin -40.1% -42.8% -47.5% -36.1% -31.6% -22.6% -29.7% -31.4% -16.9% -22.1% -47.7% -23.0% -14.4% -26.3.% Stock-based

  49. Slide 49: GAAP to Non-GAAP Reconciliation

    GAAP to Non-GAAP Reconciliation Fiscal Period Q3 FY'24 Q4 FY'24 Q1 FY'25 Q2 FY'25 Q3 FY'25 Q4 FY'25 Q1 FY'26 Q2 FY'26 (In Thousands) GAAP Net Loss $ (39,672) $ (51,412) $ (56,039) $ (35,652) $ (46,460) $ (100,943) $ (46,364) $ (32,225) Stock-based compensation expense and related employer payroll ta

ServiceTitan — Q2 2026 Earnings Presentation on 6ix