Slide 1: Investor Presentation Fall 2026 | Q2FY27
Investor Presentation Fall 2026 | Q2FY27 1
Slide 2: Forward-Looking Statements & Other Disclaimers
Forward-Looking Statements & Other Disclaimers This presentation and accompanying oral commentary (collectively, the “Materials”) contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securiti
Slide 3: ServiceTitan Q2FY27 Highlights
ServiceTitan Q2FY27 Highlights $293M 21% $26.8B 17% Q2FY27 Total Revenue Q2FY27 YoY Revenue Q2FY27 YoY GTV Q2FY27 GTV Growth Growth 22% >110% 81.1% 15.2% Q2FY27 YoY Platform Q2FY27 Net Dollar Q2FY27 Non-GAAP Q2FY27 Non-GAAP Revenue Growth Retention Rate Platform Gross Margin Operating Margin Please
Slide 4: The Operating System that Powers the Trades
The Operating System that Powers the Trades 44
Slide 5: Born in the trades, built for the trades
Born in the trades, built for the trades We are maniacally focused on the success of our customers 55
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
Slide 7: Massive, Durable Market
Massive, Durable Market 7
Slide 8: We Power Profitable Growth for Contractors
We Power Profitable Growth for Contractors Massive, Durable Market 1 Plumbing Electrical Pest HVAC Roofing Plumbing Elevators Landscaping HVAC Roofing Garage Door Pool Chimney Landscaping Exteriors Electrical Loading Dock Doors Grounds Fire & Life Safety Our Focus: Powering Profitable Growth for Contr
Slide 9: We Address ~$650Bn of the Trades Industry Spend
We Address ~$650Bn of the Trades Industry Spend Massive, Durable Market 1 Approximate Revenue Generated by Trades Businesses (GTV): Not Addressed Today ~$1.5 Tn All Addressable Heavy Commercial & Construction 3 Trades and Markets 2 Down-Market 4 Additional Trades 5 ~$650Bn Trades and Markets We Serv
Slide 10: We Have a Substantial Revenue Opportunity in our Current SAM and TAM
We Have a Substantial Revenue Opportunity in our Massive, Durable Market 1 Current SAM and TAM TAM Our Revenue Opportunity: $30Bn+6 Approximate Revenue Generated by Trades Businesses (GTV) x Amount Spent on ServiceTitan Solutions as a % of GTV (Effective Earn Rate)7 Not Addressed Today Heavy Commerc
Slide 11: Platform Leadership & Moat
Platform Leadership & Moat 11 11
Slide 12: End-to-End Platform Helps Customers Widen the Top of the Funnel
End-to-End Platform Helps Customers Widen the Top of Platform Leadership 2 the Funnel and Accelerate Progress Through the Funnel Residential Commercial Win More Lead Targeting Prospect, Estimate Efficiently Business Marketing Optimization Lead Generation Create Proposals Book Job Operate Smart Dispat
Slide 13: Core Platform Solves Deep, Key Workflows
Core Platform Solves Deep, Key Workflows Platform Leadership 2 Enterprise Human Customer Relationship Field Service Management Resource Capital Management FinTech (FSM) Planning Management (CRM) (ERP) (HCM) Platform Lead Book Dispatch Perform Payment & Back Office External Payroll Processor Generati
Slide 14: We Expand From Core into Usage and Increasingly High ROI Business Automations
We Expand From Core into Usage and Increasingly High Platform Leadership 2 ROI Business Automations Platform Revenue Advanced Subscription Packages Usage FinTech & AI Max Credit Card and Check Processing Pro Products Consumer Financing AI Consumption Professional Ecosystem Services Essential Onboard
Slide 15: ServiceTitan Sits At the Center of the Trades Ecosystem
Expanding Moat 3 ServiceTitan Sits At the Center of the Trades Ecosystem 15 15
Slide 16: We Continue to Empower Some of the Largest Players in the Industry
We Continue to Empower Some of the Expanding Moat 3 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 • Ben
Slide 17: Multiple Vectors for Growth
Multiple Vectors for Growth 17 17
Slide 18: We Have a Track Record of Adding Capabilities That are Increasingly Hard to Replicate
Multiple Growth Vectors 4 We Have a Track Record of Adding Capabilities That are Increasingly Hard to Replicate 18
Slide 19: Platform Evolving Towards Full Business Automation
Multiple Growth Vectors 4 Platform Evolving Towards Full Business Automation 1. Core Platform 2. Pro Products 3. Max Technology supports tasks Technology improves workflows Technology orchestrates a trades business 19
Slide 20: Max Unlocks The Future of AI in The Trades
Multiple Growth Vectors 4 Max Unlocks The Future of AI in The Trades 20
Slide 21: Our Go to Market Engine is Tailored to Grow Efficiently
Our Go to Market Engine is Tailored to Multiple Growth Vectors 4 Grow Efficiently Growth Path Acquire Activate Expand Inbound Investment to promote Customer ROI powers • High Velocity success on platform customer technician • Marketing-Driven growth • Referrals Wall-to-wall core • Community evangeli
Slide 22: Efficient Operating Model
Efficient Operating Model 22 22
Slide 23: An Efficient and Scalable Operating Model
An Efficient and Scalable Operating Model Efficient Operating Model 5 Built for durable growth; constrained to deliver 25% incremental operating margins Durable Growth Efficient Economics Incremental Margin Deliver high customer ROI Industry leading gross Disciplined investment retention approach Tech
Slide 24: Strong Total Annual Revenue Growth
Strong Total Annual Revenue Growth Efficient Operating Model 5 In $MM YoY Growth % 25% 25% 21% 25% 21% Note: Please refer to pages 31-34 for definitions and methodologies. Usage Subscription Services 24 24
Slide 25: Consistent Subscription Revenue Growth
Consistent Subscription Revenue Growth Efficient Operating Model 5 In $MM YoY Growth % 27% 26% 23% 24% 22% Note: Please refer to pages 31-34 for definitions and methodologies. 25 25
Slide 26: Steady YoY GTV Growth With Seasonal Impact in Q2
Steady YoY GTV Growth With Seasonal Impact in Q2 Efficient Operating Model 5 Steady Usage Revenue as a % of GTV YoY Growth % 19% 22% 16% 23% 17% Usage Revenue as a Proportion of GTV Note: Please refer to pages 31-34 for definitions and methodologies. 26 26
Slide 27: Expanding Overall Gross Margins as Platform Revenue Grows Faster than Services Revenue
Expanding Overall Gross Margins as Platform Efficient Operating Model 5 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 31-50 for definitions and a reconciliation
Slide 28: Consistent Non-GAAP Operating Margin Expansion
Consistent Non-GAAP Operating Margin Expansion Efficient Operating Model 5 Non-GAAP Operating Margin (%) Note: Please refer to pages 31-50 for definitions and a reconciliation of non-GAAP metrics to the nearest GAAP figure. 28 28
Slide 29: Long Term Non-GAAP Target Operating Model
Long Term Non-GAAP Target Operating Model Efficient Operating Model 5 FY2026 Q2FY27 Long Term Non-GAAP Gross Margin (%) 74% 75% ~77%1 Non-GAAP Sales & Marketing (% of Rev.) 25% 22% 20-22%1 Non-GAAP Research & Development (% of Rev.) 25% 26% 20-22% Non-GAAP General & Administrative (% of Rev.) 14% 11%
Slide 30: Appendix
& ServiceTitan: 30
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 Billi
Slide 32: Definitions (Cont'd)
Definitions (Cont’d) Usage-based Revenue Revenue generated from transactions using FinTech solutions and usage of certain upsell products and other usage-based services. Platform Revenue Revenue generated through (a) Subscription Revenue and (b) Usage-based Revenue. Non-GAAP Gross Profit Non-GAAP gro
Slide 33: Definitions (Cont'd)
Definitions (Cont’d) Non-GAAP Income (Loss) From Operations Non-GAAP income (loss) from operations represents GAAP income (loss) from operations, excluding stock-based compensation expense and related employer payroll taxes, amortization of acquired intangible assets, restructuring charges, acquisit
Slide 34: Disaggregated Revenue
Disaggregated Revenue Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) Subscription $ 108,824 $ 114,311 $ 119,398 $ 126,034 $ 137,697 $ 145,282 $ 156,674 $ 162,717 $ 174,753 $ 182,778 $ 192,044 $ 202,038
Slide 35: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Platform Gross Profit $ 105,141 $ 109,619 $ 110,135 $ 115,468 $ 135,761 $ 138,986 $ 146,289 $ 157,945 $ 180,735 $ 185
Slide 36: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP Platform Gross Margin 71.2% 72.3% 71.5% 70.7% 73.4% 72.7% 73.1% 75.9% 77.7% 77.2% 76.8% 78.7% 78.7% Stock-based compensation expense
Slide 37: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Professional Services and Other Gross Profit $ (8,421) $ (6,851) $ (9,923) $ (9,488) $ (8,935) $ (9,041) $ (8,113) $
Slide 38: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP Professional Services and Other Gross Profit Margin -101.1% -81.3% -127.2% -133.6% -111.7% -111.8% -88.1% -123.9% -99.9% -91.0% -118
Slide 39: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Gross Profit $ 96,720 $ 102,768 $ 100,212 $ 105,980 $ 126,826 $ 129,945 $ 138,176 $ 148,396 $ 171,349 $ 176,340 $ 177
Slide 40: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP Gross Margin 62.0% 64.2% 61.9% 62.2% 65.7% 65.2% 66.0% 68.8% 70.8% 70.8% 69.9% 72.1% 71.4% Stock-based compensation expense and rela
Slide 41: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Sales and Marketing Expenses $ 52,798 $ 60,097 $ 56,689 $ 57,601 $ 58,218 $ 67,795 $ 69,735 $ 69,223 $ 69,544 $ 78,27
Slide 42: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP Sales and Marketing Expenses (% of Revenue) 34% 38% 35% 34% 30% 34% 33% 32% 29% 31% 29% 27% 26% Stock-based compensation expense and
Slide 43: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Research and Development Expenses $54,319 $49,094 $54,420 $58,613 $62,449 $65,935 $76,057 $69,140 $73,065 $78,522 $81
Slide 44: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP Research and Development Expenses (% of Revenue) 35% 31% 34% 34% 32% 33% 36% 32% 30% 32% 32% 33% 34% Stock-based compensation expens
Slide 45: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP General and Administrative Expenses $ 38,892 $ 29,723 $ 37,194 $ 43,194 $ 38,769 $ 40,263 $ 92,250 $ 59,569 $ 63,512
Slide 46: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 GAAP General and Administrative Expenses (% of Revenue) 25% 19% 23% 25% 20% 20% 44% 28% 26% 25% 25% 22% 20% Stock-based compensation expe
Slide 47: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Income (Loss) From Operations $ (49,289) $ (36,146) $ (48,091) $ (53,428) $ (32,610) $ (44,048) $ (99,866) $ (49,536)
Slide 48: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal Period 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 LTM GAAP Operating Margin -31.6% -22.6% -29.7% -31.4% -16.9% -22.1% -47.7% -23.0% -14.4% -16.9% -16.8% -9.6% -9.4% -13.0% Stock-based com
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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) GAAP Net Loss $ (39,672) $ (51,412) $ (56,039) $ (35,652) $ (46,460) $ (100,943) $ (46,364) $ (32,225) $ (39,527) $ (41,737) $ (22,
Slide 50: Free Cash Flow
Free Cash Flow 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 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 (In Thousands) Net cash provided by (used in) operating activities $ 418 $ 5,862 $ (19,224) $ 25,316 $ 15,534 $ 15,427 $ (14,570) $ 40,340 $ 43,780 $ 40,581 $ (1,5