# ServiceTitan, Inc. (TTAN)

> Source: Nexqual · https://nexqual.com/TTAN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, ServiceTitan, Inc. (TTAN), nexqual.com/TTAN" · informational, not investment advice.

**Price:** USD 85.2 (+3.50% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 82.32 · day 82.08–86.79 · 52w 53–111.36 · market cap $8.22B · NMS

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $1.06B, net income -$129M (-12.1% margin), free cash flow $137M (SEC filings).
- Insider open-market sales, last ~7 months: 21 Form 4 filings, $43.3M; 15 not under a Rule 10b5-1 plan ($18.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.94 on a 1–5 scale) (17 analysts), mean target USD 97.53 (range 76–110).
- Total return with dividends: 1Y -13.4% vs S&P 500 +14.9%; 5Y -14.8% vs S&P 500 +80.3%.
- Next earnings: 2026-12-03, EPS estimate USD 0.26, revenue estimate $287M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|
| Revenue | $468M | $614M | $772M | $961M | $1.06B |
| Gross profit | $266M | $377M | $501M | $674M | — |
| Operating income | -$222M | -$183M | -$230M | -$169M | -$138M |
| Net income | -$270M | -$195M | -$239M | -$160M | -$129M |
| EPS (diluted) | -$9.31 | -$7.24 | -$8.53 | -$1.73 | — |
| Free cash flow | -$195M | -$68.1M | $33.3M | $105M | $137M |
| Gross margin | 56.9% | 61.3% | 64.9% | 70.1% | — |
| Operating margin | -47.4% | -29.8% | -29.8% | -17.6% | -13.0% |
| Net margin | -57.6% | -31.8% | -31.0% | -16.6% | -12.1% |
| Revenue growth | — | +31.3% | +25.6% | +24.5% | — |
| Cash + short-term investments | $202M | $147M | $442M | $429M | — |
| Total debt | — | $176M | $105M | $0K | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/S 7.7x · P/FCF 60.1x · P/B 5.1x · FCF yield 1.66% · Earnings yield -1.57%

## Insider sales (SEC Form 4, open-market, last ~7 months)
6 of 21 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15 | Sherry David | Chief Financial Officer | 1,138 | $86K | 0.3% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-23 | O'Connor Michele | Chief Accounting Officer | 4,380 | $269K | 6.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | Sherry David | Chief Financial Officer | 23,246 | $1.3M | 6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | O'Connor Michele | Chief Accounting Officer | 5,581 | $319K | 7.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | Kuzoyan Vahe | President | 3,148 | $180K | 99.9% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | Mahdessian Ara | Chief Executive Officer | 3,148 | $180K | 99.9% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-14 | Sherry David | Chief Financial Officer | 9,000 | $817K | 2.3% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-11…2026-08-12 | Kuzoyan Vahe | President | 131,120 | $11.7M | 100% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-03…2026-08-04 | Mahdessian Ara | Chief Executive Officer | 88,053 | $7.5M | 100% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-15 | Sherry David | Chief Financial Officer | 2,276 | $181K | 0.6% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07 | Mahdessian Ara | Chief Executive Officer | 51,947 | $4.2M | 100% | Yes (adopted January 15, 2026) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-07 | O'Connor Michele | Chief Accounting Officer | 4,910 | $397K | 6.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-23…2026-06-24 | Deeter Byron B | Director | 17,690 | $1.1M | 78.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-22…2026-06-23 | Griffith William J.G. | Director | 94,615 | $6.0M | 0.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-22…2026-06-23 | Iconiq Strategic Partners V, L.P. |  | 94,615 | $6.0M | 0.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | Mahdessian Ara | Chief Executive Officer | 3,028 | $200K | 99.9% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | Kuzoyan Vahe | President | 3,208 | $212K | 100% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | Sherry David | Chief Financial Officer | 20,193 | $1.3M | 4.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | O'Connor Michele | Chief Accounting Officer | 5,305 | $351K | 6.5% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-09 | O'Connor Michele | Chief Accounting Officer | 10,000 | $691K | 10.9% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.94 on a 1–5 scale), 17 analysts; mean target USD 97.53 (low 76, high 110).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | TD Cowen | Reiterated | Buy | $100 |
| 2026-10-02 | BTIG | Reiterated | Buy | $110 |
| 2026-09-25 | TD Cowen | Reiterated | Buy | $100 |
| 2026-09-09 | Citigroup | Target lowered | Neutral | $83 → $76 |
| 2026-09-09 | Canaccord Genuity | Target lowered | Buy | $105 → $90 |
| 2026-09-09 | Morgan Stanley | Target lowered | Overweight | $124 → $92 |
| 2026-09-09 | Truist Securities | Target lowered | Buy | $110 → $100 |
| 2026-09-09 | Stifel | Target lowered | Buy | $125 → $100 |
| 2026-09-09 | Wells Fargo | Target lowered | Overweight | $115 → $105 |
| 2026-09-09 | TD Cowen | Target lowered | Buy | $125 → $100 |
| 2026-09-09 | Baird | Target lowered | Outperform | $101 → $85 |
| 2026-09-09 | Keybanc | Target lowered | Overweight | $120 → $110 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-12-09) |
|---|---|---|
| Total return | -13.4% | -14.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -13.5% | -8.2% |
| Volatility (annualized) | 67.6% | 67.0% |
| Max drawdown | -50.8% (Dec 2025→Sep 2026) | -57.7% (May 2025→Sep 2026) |

## Peers (Software - Application)
DSGX (The Descartes Systems Group Inc) USD 94 +1.74% · IDCC (InterDigital, Inc.) USD 332.06 -0.78% · APPF (AppFolio, Inc.) USD 217.33 +0.06% · YMM (Full Truck Alliance Co. Ltd.) USD 8.35 -1.76% · PCTY (Paylocity Holding Corporation) USD 177.67 +4.93% · PCOR (Procore Technologies, Inc.) USD 62.29 +2.27%

## More
Full page: https://nexqual.com/TTAN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TTAN's own 10-K filed 2026-03-25 (https://www.sec.gov/Archives/edgar/data/1638826/000163882626000028/ttan-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Microsoft (MSFT) | "We rely on third-party data centers, such as Azure, to host and operate our platform, and any disruption of or interference with our use of these facilities may negatively affect our ability to maintain the performance a…" |
| Customer | Alphabet (Google) (GOOGL) | "A single customer can have thousands of online leads from a variety of sources, including ads, Yelp and Google sponsorships, which makes knowing which lead sources are producing inbound calls critical to maximizing our c…" |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Platform Revenue | $284.5M | 97.2% | +22.2% |
| — Subscription Revenue (part of Platform Revenue) | $212.4M | 72.5% | +21.5% |
| — Usage Revenue (part of Platform Revenue) | $72.1M | 24.6% | +24.4% |
| Professional Services & Other Revenue | $8.3M | 2.8% | -12.1% |
| Total revenue | $292.8M | 100% | — |

## Customer concentration

Period ended 2026-07-31: 13% of revenue from unnamed direct customers (10-Q, filed 2026-09-08).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.26 | $0.26 | +1.5% | $286.5M | 17 |
| Next quarter (ends 2027-01-31) | $0.33 | $0.33 | -0.3% | $294.3M | 17 |
| Current fiscal year (ends 2027-01-31) | $1.36 | $1.31 | +3.7% | $1.14B | 17 |
| Next fiscal year (ends 2028-01-31) | $1.64 | $1.64 | +0.5% | $1.31B | 17 |