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Software - Application · Technology · Fiscal year ends Jan 31
ServiceTitan reported revenue of $961M in the fiscal year ended Jan 2026, up 24.5% from the year before. Operating income was −$169M, an operating margin of −17.6%, and net income was −$160M. Operating cash flow of $110M less capital expenditure of $5M left free cash flow of $105M. It held more cash than debt (net cash $429M).
Ranks among the 85 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|
| Revenue | 468 | 614 | 772 | 961 |
| Cost of revenue | 202 | 238 | 271 | 287 |
| Gross profit | 266 | 377 | 501 | 674 |
| Research & development | 159 | 204 | 263 | 303 |
| Selling, general & admin | 329 | 356 | 468 | 540 |
| Operating income | −222 | −183 | −230 | −169 |
| Interest expense | 54.5 | 16.4 | 15.5 | 7.2 |
| Pre-tax income | −283 | −191 | −237 | −157 |
| Income tax | −13.1 | 4.1 | 2.3 | 2.7 |
| Net income | −270 | −195 | −239 | −160 |
| Diluted EPS | −9.31 | −7.24 | −8.53 | −1.73 |
| Diluted shares | 30.4 | 33.3 | 42.1 | 92.4 |
| Fiscal year | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|
| Cash & equivalents | 202 | 147 | 442 | 429 |
| Receivables | – | 28.0 | 44.5 | 56.0 |
| Current assets | – | 249 | 573 | 591 |
| Net PP&E | – | 97.2 | 56.7 | 38.9 |
| Goodwill | 831 | 831 | 846 | 860 |
| Total assets | – | 1,518 | 1,769 | 1,745 |
| Payables | – | 5.8 | 6.0 | 10.0 |
| Deferred revenue | 10.8 | 11.2 | 16.8 | 18.7 |
| Current liabilities | – | 125 | 153 | 169 |
| Short-term debt | – | 1.8 | 1.1 | 0.0 |
| Long-term debt | – | 175 | 104 | 0.0 |
| Total liabilities | – | 366 | 314 | 220 |
| Shareholders' equity | −335 | −478 | 1,455 | 1,525 |
| Fiscal year | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|
| Operating cash flow | −121 | −39.7 | 37.1 | 110 |
| Capital expenditure | 74.0 | 28.4 | 3.8 | 4.7 |
| Free cash flow | −195 | −68.1 | 33.3 | 105 |
| Depreciation & amortisation | 57.7 | 81.0 | 80.2 | 83.2 |
| Stock-based compensation | 64.1 | 102 | 164 | 197 |
| Acquisitions | 590 | – | 1.2 | 19.8 |
| Fiscal year | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 31.3% | 25.6% | 24.5% |
| Gross margin | 56.9% | 61.3% | 64.9% | 70.1% |
| Operating margin | −47.4% | −29.8% | −29.8% | −17.6% |
| Net margin | −57.6% | −31.8% | −31.0% | −16.6% |
| Return on equityBlank when equity is negative | – | – | −16.4% | −10.5% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −13.1% | −14.2% | −10.7% |
| Free cash flow margin | −41.6% | −11.1% | 4.3% | 11.0% |
| Cash conversion (CFO ÷ net income) | 0.45x | 0.20x | −0.15x | −0.69x |
| Receivable days | – | 17 | 21 | 21 |
| Payable days | – | 9 | 8 | 13 |
| Interest cover | −4.07x | −11.1x | −14.8x | −23.4x |
| Debt ÷ equity | – | – | 0.07x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | 29.7 | −337 | −429 |
| Current ratio | – | 1.99x | 3.74x | 3.49x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.