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
Revenue
Increasing
209.28M
QoQ: 5.02% | YoY: 15.20%
Gross Profit
Increasing
138.18M
66.02% margin
QoQ: 6.33% | YoY: 15.38%
Operating Income
Decreasing
-99.87M
QoQ: -126.72% | YoY: -132.14%
Net Income
Decreasing
-100.94M
QoQ: -117.27% | YoY: -120.18%
EPS
Decreasing
-3.60
QoQ: -106.90% | YoY: -109.30%
Revenue Trend
Margin Analysis
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
Gross Profit Margin
Excellent
66.00%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Weak
-0.48%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.48%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.06%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.07%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
3.74
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.11
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-7.13x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
1.98x
Price-to-book ratio reasonable for profitable companies
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