Group 1 - The individual investor focuses on undercovered companies, particularly in technology, software, electronics, and energy transition sectors [1] - The investor has over 7 years of personal capital investment experience across a broad range of global companies [1] - The investor holds a Master's degree in Electrical Engineering and works as an automotive battery R&D engineer in Sweden [1] Group 2 - The investor maintains a watchlist of up to 100 companies, aiming to identify asymmetric investment opportunities for market-beating returns [1] - The write-ups on Seeking Alpha serve as a platform for the investor to present investment theses and receive community feedback [1]

LOS ANGELES, July 11, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (Nasdaq: TTAN), the software platform that powers the trades, today announced that it will host an investor session at Pantheon 2025, the Company’s annual user conference in Anaheim, CA. The in-person investor session will be held on Thursday, September 18, 2025. ServiceTitan Pantheon 2025 Investor SessionWhen: Thursday, September 18, 2025Where: Anaheim Marriott and Anaheim Convention CenterTime: 8:00am to 1:00pm Pacific Time (PT) Event details and ...

Core Insights - The pest control industry is facing rising material and equipment costs, with 89% of businesses reporting challenges that impact profitability, yet there is cautious optimism about market conditions [1][3] - Technology adoption is seen as essential for improving efficiency and profitability, with a shift towards digital tools and AI becoming increasingly important [2][6][7] Group 1: Economic Challenges - 35% of pest control businesses view a potential recession as a significant threat, a 15% increase from the previous year, but 35% still expect market improvement [3] - Concerns about material costs and maintaining profitable margins are the top risks, with an 18% increase in the number of businesses prioritizing margin maintenance compared to 2024 [3] - 44% of companies reported decreased lead times, indicating potential supply chain improvements despite economic uncertainty [3] Group 2: Workforce and Customer Experience - Retaining employees and enhancing customer experience are prioritized as key differentiators in a volatile market, with growing revenue and customer retention as top business goals [4][5] - 89% of companies plan to increase wages for technicians, reflecting a commitment to competitive compensation to improve staff retention and customer satisfaction [5] Group 3: Technology Adoption - Most pest control businesses utilize software for essential operations like accounting and payroll, but only 20% plan to invest in new technology this year [6] - The focus is on all-in-one business management solutions, with 66% prioritizing product features and integrations as key decision factors [6] - Despite low current investment in AI, leaders believe it will significantly impact marketing, field operations, and sales in the coming years [7]

Core Insights - ServiceTitan has partnered with Pine Services Group to create an integrated ecosystem of field service management (FSM), accounting, and ERP solutions aimed at empowering enterprise-level companies [1][2][3] Company Overview - ServiceTitan is a cloud-based software platform designed to support trades businesses by providing tools for business management, back office operations, and customer experience enhancement [5] - Pine Services Group is a holding company focused on preserving the legacy and growth of elite ERP service partners, supporting over 10,000 businesses with a portfolio of more than 12 leading companies and over 1,000 employees [2][6] Partnership Objectives - The partnership aims to leverage ServiceTitan's technology suite to streamline operations, boost profitability, and support enterprise-level growth for commercial and construction businesses [3][6] - ServiceTitan will become a preferred FSM solution within Pine's ecosystem, enhancing its market reach and solidifying its commitment to the commercial and construction sectors [6] Market Impact - The collaboration is expected to expand market reach for both companies, with Pine extending its accounting and IT services to ServiceTitan's residential customers [6] - The partnership is positioned to cater to the needs of enterprise-level clients, providing advanced capabilities and support for complex operations [6]

Core Insights - ServiceTitan has announced a partnership with Associated Builders and Contractors (ABC), enhancing its commitment to providing technology solutions for specialty contractors in the construction industry [1][2][3] - The partnership allows ABC members to access ServiceTitan's software platform, which includes tools for scheduling, billing, and real-time tracking, along with a member-exclusive benefit of three complimentary months of subscription [2][3] - ServiceTitan aims to drive innovation and operational excellence in the construction sector, which has historically been underserved by technology [2][5] Company Overview - ServiceTitan is a cloud-based software platform designed to empower trades businesses by providing an integrated solution for managing operations and enhancing customer experience [6] - The platform combines project management tools with service functionality, enabling specialty contractors to run their entire business on a single platform [4][6] - ServiceTitan's addition to ABC's Tech Marketplace solidifies its leadership position in construction technology, setting new standards for productivity and operational efficiency [5] Industry Context - ABC, a national trade association with 23,000 members, focuses on advancing industry trends and fostering innovation through its Tech Marketplace [3] - The collaboration between ServiceTitan and ABC aims to equip contractors with cutting-edge digital tools to improve safety, profitability, and efficiency in their operations [3] - This partnership reflects a broader trend in the construction industry towards increased technology adoption to enhance productivity and deliver superior outcomes [5]

New SuiteApp for Field Service Management Meets Oracle NetSuite SuiteCloud Platform Development Standards and Best PracticesLOS ANGELES, June 24, 2025 (GLOBE NEWSWIRE) -- ServiceTitan (Nasdaq: TTAN), the software platform that powers the trades, today announced that its SuiteApp has achieved the ‘Built for NetSuite’ status. The new SuiteApp, built using the Oracle NetSuite SuiteCloud Platform, helps enterprise, commercial service, and construction contractors further streamline workflows, enhance financial ...

Core Insights - ServiceTitan has announced a strategic collaboration with ABC Supply Co., Inc. to enhance procurement and estimating processes for roofing contractors [1][2] - The integration aims to provide accurate product catalogs, pricing, and order status directly within ServiceTitan's platform, improving operational efficiency and customer satisfaction [2][3] Company Overview - ServiceTitan is a cloud-based software platform designed to support trades businesses, offering tools for business management and customer experience enhancement [5] - ABC Supply Co., Inc. is the largest wholesale distributor of roofing and other building products in North America, focusing on serving professional contractors since its founding in 1982 [7] Integration Features - The integration will allow for branch-specific, up-to-date pricing pulled nightly, ensuring contractors have the most current costs for accurate estimates [5] - Location-aware estimates will automatically apply branch-level prices based on job location, maintaining profitability across different markets [5] - Real-time validation at purchase will check current pricing and availability, reducing order errors and material delays [5] - The seamless estimate-to-order flow will enable teams to convert estimates into electronic purchase orders instantly [5] - Contractors will have access to ABC's full catalog with product names and imagery, enhancing proposal accuracy and professionalism [5] Industry Context - Material prices are a significant concern for contractors, with 64% indicating that rising costs may hinder growth and profitability [3] - Supply chain disruptions in the roofing industry are making it increasingly challenging for contractors to source materials at the right time and price [3]

PART I [Financial Statements (Unaudited)](index=9&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) ServiceTitan reported $215.7 million revenue, a 27% increase, with a net loss of $46.4 million and $14.6 million net cash used in operations for the quarter [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 30, 2025 | January 31, 2025 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $420,265 | $441,802 | | Total current assets | $552,973 | $572,766 | | Goodwill | $845,836 | $845,836 | | **Total assets** | **$1,727,396** | **$1,768,648** | | **Liabilities & Equity** | | | | Total current liabilities | $114,834 | $153,116 | | Total liabilities | $273,467 | $314,064 | | Total stockholders' equity | $1,453,929 | $1,454,584 | | **Total liabilities and stockholders' equity** | **$1,727,396** | **$1,768,648** | [Condensed Consolidated Statements of Operations](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Quarterly Statement of Operations (in thousands, except per share data) | Metric | Q1 FY2026 (ended Apr 30, 2025) | Q1 FY2025 (ended Apr 30, 2024) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Revenue** | **$215,692** | **$170,328** | **26.6%** | | Platform Revenue | $207,982 | $163,225 | 27.4% | | Gross Profit | $148,396 | $105,980 | 40.0% | | Loss from Operations | $(49,536) | $(53,428) | (7.3%) | | **Net Loss** | **$(46,364)** | **$(56,039)** | **(17.3%)** | | Net Loss Per Share (basic and diluted) | $(0.51) | $(2.02) | (74.8%) | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Quarterly Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended April 30, 2025 | Three Months Ended April 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(14,570) | $(19,224) | | Net cash used in investing activities | $(7,764) | $(6,597) | | Net cash provided by (used in) financing activities | $380 | $(5,108) | | **Net decrease in cash, cash equivalents, and restricted cash** | **$(21,954)** | **$(30,929)** | [Notes to Financial Statements](index=14&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the December 2024 IPO, revenue recognition, debt arrangements, and stock-based compensation - In December 2024, the company completed its IPO, receiving net proceeds of **$674.1 million**. A portion of the proceeds was used to redeem all outstanding non-convertible preferred stock[35](index=35&type=chunk) - As of April 30, 2025, the company had remaining performance obligations of **$415.9 million**, with approximately **50%** expected to be recognized as revenue in the next 12 months[52](index=52&type=chunk) - Total stock-based compensation expense for the three months ended April 30, 2025 was **$43.7 million**, a significant increase from **$19.9 million** in the prior-year period, including **$13.1 million** for performance-based RSUs granted to the Co-Founders[92](index=92&type=chunk)[105](index=105&type=chunk) - As of April 30, 2025, the company had a Term Loan with an outstanding principal balance of **$106.8 million** and an undrawn Revolver Facility of **$140.0 million**[79](index=79&type=chunk)[82](index=82&type=chunk)[183](index=183&type=chunk) [Management's Discussion and Analysis (MD&A)](index=31&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes 27% revenue growth to subscription and FinTech adoption, with GTV at $17.7 billion and non-GAAP operating income of $16.2 million - The company's platform processed **$17.7 billion** of Gross Transaction Volume (GTV) in the three months ended April 30, 2025, up from **$14.5 billion** in the prior year period[115](index=115&type=chunk) - Net dollar retention rate was **over 110%** for the three months ended April 30, 2025, indicating strong customer retention and expansion[122](index=122&type=chunk) Revenue and Gross Margin Analysis (in thousands) | Metric | Q1 FY2026 (ended Apr 30, 2025) | Q1 FY2025 (ended Apr 30, 2024) | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$215,692** | **$170,328** | **$45,364** | **27%** | | Platform Revenue | $207,982 | $163,225 | $44,757 | 27% | | Professional Services Revenue | $7,710 | $7,103 | $607 | 9% | | **Total Gross Margin** | **68.8%** | **62.2%** | - | - | GAAP vs. Non-GAAP Operating Income (in thousands) | Metric | Q1 FY2026 (ended Apr 30, 2025) | Q1 FY2025 (ended Apr 30, 2024) | | :--- | :--- | :--- | | GAAP loss from operations | $(49,536) | $(53,428) | | Non-GAAP income from operations | $16,209 | $3,312 | [Market Risk Disclosures](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate risk on floating-rate debt, with minor foreign currency and inflation exposures - The company is exposed to interest rate risk on its floating-rate debt; a **100 basis point** increase in rates would increase annual interest expense by approximately **$1.1 million**[196](index=196&type=chunk) - Foreign currency risk is considered **minimal** as the vast majority of revenue is denominated in U.S. dollars, and the company does not currently use derivative hedging instruments[197](index=197&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management confirmed effective disclosure controls as of April 30, 2025, with no material changes to internal controls and prior weaknesses remediated - Management concluded that as of April 30, 2025, the company's disclosure controls and procedures were **effective**[200](index=200&type=chunk) - There were **no changes** in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[201](index=201&type=chunk) - Material weaknesses in internal control over financial reporting, first identified in fiscal 2019, were **fully remediated** as of January 31, 2024[17](index=17&type=chunk)[343](index=343&type=chunk) PART II [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from profitability, growth, competition, industry reliance, multi-class stock, cybersecurity, and complex regulations - **Business & Financial Risks:** The company has a history of net losses and may not achieve or sustain profitability, with growth dependent on effective expansion, competition, and navigating economic conditions affecting the trades industry[212](index=212&type=chunk)[214](index=214&type=chunk)[244](index=244&type=chunk) - **Governance Risk:** The multi-class stock structure concentrates approximately **63%** of voting power with the Co-Founders, limiting other stockholders' influence on major corporate decisions[364](index=364&type=chunk) - **Technology & Cybersecurity Risks:** The business relies on third-party data centers (primarily Microsoft Azure) and is exposed to cybersecurity breaches, with AI and open-source software introducing additional operational, reputational, and legal risks[276](index=276&type=chunk)[287](index=287&type=chunk)[315](index=315&type=chunk) - **Regulatory & Legal Risks:** The company is subject to a complex web of regulations, including data privacy laws (e.g., CCPA), marketing laws (e.g., TCPA), and anti-corruption laws, where non-compliance could result in significant penalties and reputational harm[298](index=298&type=chunk)[306](index=306&type=chunk)[337](index=337&type=chunk) [Use of Proceeds and Equity Sales](index=110&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company received net proceeds of $674.1 million from its December 2024 IPO, with no material change in the planned use of proceeds - The company received net proceeds of **$674.1 million** from its IPO in December 2024[392](index=392&type=chunk) [Other Information](index=110&type=section&id=Item%205.%20Other%20Information) CEO, President, and CFO adopted Rule 10b5-1 trading plans in April 2025 for potential stock sales through April 2026 - On April 15, 2025, the CEO, President, and CFO each adopted **Rule 10b5-1** trading arrangements for the sale of company stock[396](index=396&type=chunk)[397](index=397&type=chunk)[398](index=398&type=chunk)

Group 1 - The stock market is perceived as exceedingly expensive, leading to investor dissatisfaction during the Q1 earnings season, resulting in stock price declines even after successful earnings reports [1] - Investors are reacting negatively despite companies beating earnings expectations and raising guidance, indicating a challenging environment for stock performance [1] - Gary Alexander has extensive experience in technology sectors, both on Wall Street and in Silicon Valley, and has been contributing insights on industry trends since 2017 [1]

ServiceTitan, Inc. TTAN reported mixed first-quarter results on Thursday.ServiceTitan posted adjusted earnings of 18 cents per share, beating market estimates of 12 cents per share. The company's quarterly sales came in at $215.69 million versus expectations of $208.69 million.The company raised its FY2026 sales guidance from $895.00 million-$905.00 million to $910.00 million-$920.00 million.“The ROI we deliver to our customers continues to be our greatest advantage,” said Vahe Kuzoyan, Co-Founder and Presi ...