Financial Performance - Gross transaction volume (GTV) for Q3 2026 reached $21.7 billion, a year-over-year growth of 22% compared to $17.8 billion in Q3 2025[3] - Total revenue for Q3 2026 was $249.2 million, reflecting a 25% increase from $199.3 million in Q3 2025[3] - Non-GAAP income from operations for Q3 2026 was $21.5 million, significantly up from $1.6 million in Q3 2025, resulting in a non-GAAP operating margin of 8.6%[3] - The platform revenue for Q3 2026 was $239.6 million, a 25% increase from $191.2 million in Q3 2025[3] - The company expects total revenue for Q4 2026 to be between $244 million and $246 million, and for the full fiscal year 2026, total revenue is projected to be between $951 million and $953 million[4] - Non-GAAP income from operations for Q4 2026 is anticipated to be between $16 million and $17 million, with full fiscal year 2026 expected to be between $83 million and $84 million[4] Cash Flow and Assets - Net cash provided by operating activities for Q3 2026 was $43.8 million, compared to $15.5 million in Q3 2025[3] - Total current assets increased to $644,012 thousand as of October 31, 2025, up from $572,766 thousand as of January 31, 2025, representing a growth of 12.4%[16] - Net cash provided by operating activities for the three months ended October 31, 2025, was $43,780 thousand, compared to $15,534 thousand for the same period in 2024, indicating a significant increase of 182.5%[18] - Cash and cash equivalents rose to $493,238 thousand as of October 31, 2025, compared to $441,802 thousand as of January 31, 2025, marking an increase of 11.6%[16] - The company reported a net change in cash, cash equivalents, and restricted cash of $21,753 thousand for the three months ended October 31, 2025, compared to $5,710 thousand for the same period in 2024, showing an increase of 281.5%[18] Profitability Metrics - GAAP gross profit for the three months ended October 31, 2025, was $185,055,000, compared to $138,986,000 for the same period in 2024, representing a year-over-year increase of 33.2%[26] - Non-GAAP gross profit for the three months ended October 31, 2025, was $192,119,000, up from $147,342,000 in 2024, indicating a growth of 30.4%[26] - GAAP gross margin improved to 77.2% in Q3 2025 from 72.7% in Q3 2024, while non-GAAP gross margin increased to 80.2% from 77.1% in the same period[26] - Non-GAAP net income for the three months ended October 31, 2025, was $23,814,000, compared to a loss of $1,148,000 for the same period in 2024[33] - Non-GAAP net income for the nine months ended October 31, 2025, was $74,556,000, significantly up from $9,081,000 in 2024[33] Expenses - GAAP sales and marketing expense for the three months ended October 31, 2025, was $78,270,000, an increase from $67,795,000 in 2024[29] - Non-GAAP research and development expense for the three months ended October 31, 2025, was $63,647,000, compared to $54,016,000 in 2024, showing a rise of 17.5%[30] - Non-GAAP general and administrative expense for the three months ended October 31, 2025, was $33,960,000, up from $28,189,000 in 2024, indicating a 20.0% increase[31] - Stock-based compensation expense for the three months ended October 31, 2025, was $49,660 thousand, up from $25,426 thousand in the same period of 2024, representing a substantial increase of 95.2%[18] Losses and Liabilities - The company reported a GAAP loss from operations of $42.2 million in Q3 2026, an improvement from a loss of $44.0 million in Q3 2025[3] - Net loss for the three months ended October 31, 2025, was $39,527 thousand, an improvement from a net loss of $46,460 thousand for the same period in 2024, reflecting a decrease of 14.3%[18] - Total liabilities decreased slightly to $311,651 thousand as of October 31, 2025, from $314,064 thousand as of January 31, 2025, a reduction of 0.8%[16] - The company incurred $19,781 thousand in cash outflows for business acquisitions during the three months ended October 31, 2025[18] Operational Focus - ServiceTitan continues to focus on leveraging competitive advantages to enhance automation in the trades industry[2]
ServiceTitan, Inc.(TTAN) - 2026 Q3 - Quarterly Results