Executive Summary
ServiceTitan reported QQ4 2024 revenue of $209.3 million, up 15.2% year-over-year and 5.0% quarter-over-quarter, with a gross margin of approximately 66.0%. Despite top-line growth, the quarter produced a substantial operating loss of $99.9 million and a net loss of $100.9 million, driven by elevated operating expenses and a large stock-based compensation charge. EBITDA stood at negative $76.3 million, and the company reported negative net income per share of $3.60 (GAAP) and diluted EPS of $-1.57. On the balance sheet and cash flow, ServiceTitan ended the quarter with roughly $442.8 million in cash and investments, generated net cash from financing activities of about $297.0 million, and achieved a positive free cash flow of $14.4 million despite negative earnings, underpinned by a significant equity raise (+$682.95 million in common stock issued) and debt reduction actions.
Key Performance Indicators
QoQ: -126.72% | YoY:-132.14%
QoQ: -117.27% | YoY:-120.18%
QoQ: -106.90% | YoY:-109.30%
Key Insights
Revenue: $209.281M; YoY +15.20%, QoQ +5.02%; Gross Profit: $138.176M; Gross Margin: 66.02%; EBITDA: -$76.311M; EBITDA Margin: -36.46%; Operating Income: -$99.866M; Operating Margin: -47.72%; Net Income: -$100.943M; Net Margin: -48.23%; EPS: -$3.60; Diluted EPS: -$1.57; Weighted Avg Shares Out: 28.014M; Free Cash Flow: $14.43M; Net Cash Provided by Operating Activities: $15.43M; Cash End of Period: $442.846M; CapEx: -$0.997M; D&A: $20.385M; SBC: $94.679M; Current Ratio: 3.74; Cash Ratio: 2.89...
Financial Highlights
Revenue: $209.281M; YoY +15.20%, QoQ +5.02%; Gross Profit: $138.176M; Gross Margin: 66.02%; EBITDA: -$76.311M; EBITDA Margin: -36.46%; Operating Income: -$99.866M; Operating Margin: -47.72%; Net Income: -$100.943M; Net Margin: -48.23%; EPS: -$3.60; Diluted EPS: -$1.57; Weighted Avg Shares Out: 28.014M; Free Cash Flow: $14.43M; Net Cash Provided by Operating Activities: $15.43M; Cash End of Period: $442.846M; CapEx: -$0.997M; D&A: $20.385M; SBC: $94.679M; Current Ratio: 3.74; Cash Ratio: 2.89; DSO: 38.87 days; FCF/LSR roughly aligned with growth investments.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
209.28M |
15.20% |
5.02% |
| Gross Profit |
138.18M |
15.38% |
6.33% |
| Operating Income |
-99.87M |
-132.14% |
-126.72% |
| Net Income |
-100.94M |
-120.18% |
-117.27% |
| EPS |
-3.60 |
-109.30% |
-106.90% |
Key Financial Ratios
operatingProfitMargin
-47.7%
operatingCashFlowPerShare
$0.55
freeCashFlowPerShare
$0.52
Management Commentary
Transcript not available within the provided data. Notable public disclosures in the QQ4 2024 filing indicate ongoing investments in R&D and GTM to drive multi-vertical expansion, with profitability metrics lagging the top-line growth. Management commentary from the press release and SEC filing emphasizes platform scaling and long-term profitability goals, but no explicit forward-looking guidance was provided in the supplied data.
Forward Guidance
No explicit quarterly or full-year forward guidance was included in the QQ4 2024 data provided. Investors should monitor: (1) trajectory of revenue growth and mix (new logos, multi-vertical expansion, ARR velocity), (2) progression toward operating leverage as the company scales, (3) trajectory of gross margins with ongoing R&D and GTM investments, (4) normalization of stock-based compensation as a percent of revenue, (5) cash flow break-even dynamics and capital allocation (opportunistic buybacks, debt management, and potential new equity raises), and (6) customer concentration and retention metrics that influence long-term revenue durability.