ServiceTitan, Inc.(TTAN) - 2026 Q4 - Annual Report

Cash and Liquidity - As of January 31, 2026, the company had cash and cash equivalents of $428.8 million, excluding restricted cash of $0.6 million, and $250.0 million available under the Amended Credit Agreement[392]. - The company experienced a net increase in cash, cash equivalents, and restricted cash of $(13.5) million for fiscal 2026, compared to an increase of $293.9 million for fiscal 2025[396]. - The company’s liquidity is subject to various risks, including those outlined in the "Risk Factors" section of the Annual Report[392]. - The total borrowing capacity of the revolving credit facility was increased from $140.0 million to $250.0 million under the Amended Credit Agreement[394]. - The company may require additional equity or debt financing in the future, depending on various factors including capital requirements for acquisitions[393]. Operating Activities - Net cash provided by operating activities was $110.1 million for fiscal 2026, primarily due to non-cash charges of $324.9 million and a net loss of $159.9 million[397]. - The company reported a net cash provided by operating activities of $37.1 million for fiscal 2025, with a net loss of $239.1 million[398]. Investing Activities - Net cash used in investing activities was $44.8 million for fiscal 2026, including $19.9 million for investments in capitalized internal-use software and $19.8 million for the acquisition of Conduit[399]. Financing Activities - Net cash used in financing activities was $78.8 million for fiscal 2026, primarily due to the repayment of approximately $107.0 million in debt[401]. Valuation and Fair Value - The fair value of stock-based awards is determined based on the company's stock price on the Nasdaq at the grant date[407]. - Management makes judgments and estimates to determine the fair value of acquired assets and assumed liabilities during business combinations[408]. - Valuation of intangible assets, such as customer relationships and developed technology, relies on critical estimates including forecasted growth rates and customer retention rates[409]. Operational Risks - The company has incorporated traditional AI, machine learning, and generative AI into some of its products, which may present operational risks[19].