Financial Performance - Total revenue for Q4 FY 2025 increased by 29% year-over-year to $209.3 million, with platform revenue rising by 30% to $200.1 million[4] - GAAP net loss for Q4 FY 2025 was ($100.9) million, compared to ($51.4) million in Q4 FY 2024, while non-GAAP net income was $7.5 million, up from a non-GAAP net loss of ($0.8) million in the same period last year[4] - For the full year FY 2025, total revenue increased by 26% year-over-year to $771.9 million, with platform revenue up 27% to $739.5 million[4] - GAAP loss from operations for FY 2025 was ($230.0) million, compared to ($182.9) million for FY 2024, while non-GAAP income from operations was $25.2 million, up from a non-GAAP loss of ($17.1) million in the previous year[4] - Net loss for the three months ended January 31, 2025, was $100,943 thousand, compared to a loss of $51,412 thousand in the same period of 2024, indicating a deterioration in performance[22] - GAAP loss from operations for the three months ended January 31, 2025, was $99,866 thousand, compared to a loss of $48,091 thousand in the same period of 2024[33] - GAAP net loss for the three months ended January 31, 2025, was $100,943 thousand, compared to a loss of $51,412 thousand in the same period of 2024[35] Cash Flow and Liquidity - Cash and cash equivalents totaled $441.8 million as of January 31, 2025, with net cash generated by operating activities at $15.4 million for Q4 FY 2025, compared to $5.9 million in Q4 FY 2024[7] - Cash flows from operating activities provided $15,427 thousand in Q1 2025, a substantial increase from $5,862 thousand in Q1 2024[22] - The company reported a net cash increase of $307,760 thousand in Q1 2025, compared to a decrease of $3,302 thousand in Q1 2024[22] - Cash and cash equivalents surged to $441,802 thousand as of January 31, 2025, compared to $146,710 thousand in 2024, representing an increase of 201.5%[20] - Non-GAAP free cash flow for the three months ended January 31, 2025, was $10,792 thousand, compared to a negative free cash flow of $2,177 thousand in the same period of 2024[36] Customer Metrics - Total active customers increased by 18% year-over-year to approximately 9,500 as of January 31, 2025[7] - Net dollar retention was greater than 110% for Q4 FY 2025, and gross dollar retention was greater than 95% for FY 2025[7] Future Projections - The company expects total revenue for Q1 FY 2026 to be in the range of $207 million to $209 million, with non-GAAP income from operations projected between $12 million and $13 million[13] - For the full year FY 2026, total revenue is expected to be in the range of $895 million to $905 million, with non-GAAP income from operations anticipated between $48 million and $53 million[13] Assets and Liabilities - Total assets increased to $1,768,648 thousand as of January 31, 2025, up from $1,517,666 thousand in 2024, representing a growth of 16.5%[20] - Current assets rose significantly to $572,766 thousand, compared to $249,231 thousand in the previous year, marking a 129.0% increase[20] - Total liabilities decreased to $314,064 thousand as of January 31, 2025, down from $366,105 thousand in 2024, reflecting a reduction of 14.2%[20] Expenses - GAAP sales and marketing expense for the three months ended January 31, 2025, was $69,735,000, compared to $56,689,000 in 2024, showing an increase in marketing investments[30] - Non-GAAP research and development expense for the three months ended January 31, 2025, was $56,938,000, up from $43,900,000 in 2024, reflecting increased investment in innovation[31] - GAAP general and administrative expense for the three months ended January 31, 2025, was $92,250,000, compared to $37,194,000 in 2024, indicating a rise in administrative costs[32] - Stock-based compensation expense increased to $94,679 thousand in Q1 2025, compared to $30,417 thousand in Q1 2024, showing a significant rise of 211.5%[22] - Stock-based compensation expense and related employer payroll taxes represented 38% of total expenses for the three months ended January 31, 2025, up from 19% in the same period of 2024[34] Profitability - GAAP gross profit for the three months ended January 31, 2025, was $146,289,000, compared to $110,135,000 for the same period in 2024, reflecting a significant increase[29] - Non-GAAP gross profit for the same period was $153,494,000, up from $117,661,000 in 2024, indicating strong operational performance[29] - Non-GAAP income from operations for the three months ended January 31, 2025, was $6,889 thousand, an increase from $2,126 thousand in the same period of 2024[33] - Non-GAAP operating margin for the three months ended January 31, 2025, improved to 3% from 1% in the same period of 2024[34] Strategic Focus - The company plans to continue focusing on non-GAAP financial measures to evaluate operating performance, which may not be comparable to similar measures disclosed by other companies[23][24] - The company plans to exclude certain non-cash expenses from internal management reporting to provide clearer insights into core operating performance[25] - The company incurred restructuring charges in fiscal 2024 and 2025 due to workforce reductions, impacting overall expenses[26]
ServiceTitan, Inc.(TTAN) - 2025 Q4 - Annual Results