ServiceTitan Inc-A 2025年季度报告

FORM 10-Q (Mark One)☐QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended October 31, 2024OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from _______________ to _______________Commission File Number: 001-42434 ServiceTitan, Inc. (Exact name of registrant as specified in its charter) Delaware( State or other jurisdiction ofincorporation or organization) (I.R.S. EmployerIdentification No.) Registrant’s telephone number, including area code: (855) 899-0970 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registeredThe Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required tofile such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. ☐Accelerated filer☐☐Smaller reporting company☐☐ Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☐ As of December 31, 2024, the registrant had 76,537,855 shares of Class A Common Stock, par value $0.001 per share,13,404,097 shares of Class B Common Stock, par value $0.001 per share, and no shares of Class C Common Stock, par value$0.001 per share, outstanding. Table of Contents Page Cautionary Note Regarding Forward-Looking StatementsiiSummary of Risk Factorsiv PARTI.FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets1Condensed Consolidated Statements of Operations2Condensed Consolidated Statements of Non-Convertible Preferred Stock, Redeemable ConvertiblePreferred Stock and Stockholders’ Deficit3Condensed Consolidated Statements of Cash Flows5Notes to Unaudited Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk45Item 4.Controls and Procedures46 PARTII.OTHER INFORMATION Item 1.Legal Proceedings47Item1A.Risk Factors47Item 2.Unregistered Sales of Equity Securities and Use of Proceeds83Item 3.Defaults Upon Senior Securities84Item 4.Mine Safety Disclosures84Item 5.Other Information84 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the three months ended October 31, 2024 (this “Quarterly Report”)contains “forward-looking statements” within the meaning of the federal securities laws, which statementsinvolve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safeharbor provisions for forward-looking statements established by Section 27A of the Securities Act of 1933, asamended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “ExchangeAct”), and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include allstatements other than statements of historical fact contained in this Quarterly Report, and generally relate tofuture events or our future financial or operating performance. In some cases, you can identify forward-lookingstatements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,”“estimate,” “expect,” “intend,” “may,” “plan,” “potential” “predict,” “project,” “should,” “target,” or “will,” orthe negative of these words or other similar terms or expressions that concern our expectations, strategy, plans orintentions. Forward-looking statements contained in this Quarterly Report include, but are not limited to,statements about: •our future financial performance, including our expectations regarding our revenue, cost of revenue, operatingexpenses, our ability to determine reserves and our ability to achie