ServiceTitan (TTAN) Fiscal Q2 2027 Earnings Call: Revenue Up 21%, Max Prioritized
Source Tradingkey
Key Takeaways
- Fiscal Q2 2027 revenue increased 21% year over year to $292.8 million. Platform revenue rose 22% to $284.5 million.
- Non-GAAP operating income reached $44.4 million, representing a 15.2% margin and a 310-basis-point year-over-year improvement. Free cash flow rose 47% to a quarterly record of $50.5 million.
- GTV increased 17% to $26.8 billion. Management said growth was about 200 basis points below recent quarters on a normalized basis, mainly because of lower job growth among existing customers.
- ServiceTitan is prioritizing Max and its AI-powered software factory over expansion into new trades. The company expects to finish FY2027 with more than 700 enrolled Max locations.
- Management expects FY2027 revenue of $1.139 billion to $1.144 billion and non-GAAP operating income of $152 million to $154 million.
- The shift toward Max is expected to create a $4 million to $5 million near-term revenue headwind across subscription and professional services revenue during the remainder of FY2027.
Core Financial Results
| Metric | Fiscal Q2 2027 | Change / Commentary |
|---|---|---|
| Total revenue | $292.8 million | Up 21% year over year |
| Subscription revenue | $212.4 million | Up 22% year over year |
| Usage revenue | $72.1 million | Up 24% year over year |
| Platform revenue | $284.5 million | Up 22% year over year |
| Professional services and other revenue | $8.3 million | — |
| GTV | $26.8 billion | Up 17% year over year |
| Net dollar retention | Above 110% | Quarterly result |
| Non-GAAP platform gross margin | 81.1% | Up 40 basis points year over year |
| Non-GAAP total gross margin | 74.6% | Up 20 basis points year over year |
| Non-GAAP operating income | $44.4 million | 15.2% margin; up 310 basis points year over year |
| Free cash flow | $50.5 million | Up 47% year over year |
| Year-to-date free cash flow | $40.9 million | Up from $12 million a year earlier |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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