ServiceTitan, Inc. (TTAN) Q3 2024 Earnings Call Transcript
ServiceTitan, Inc. (NASDAQ:TTAN ) Q3 2024 Earnings Conference Call January 14, 2024 5:00 PM ET Company Participants Jason Rechel - Vice President, Investor Relations Ara Mahdessian - Co-Founder and Chief Executive Officer Vahe Kuzoyan - Co-Founder and President Dave Sherry - Chief Financial Officer Conference Call Participants Kash Rangan - Goldman Sachs Josh Baer - Morgan Stanley Tyler Radke - Citi DJ Hynes - Canaccord Genuity Dylan Becker - William Blair Jason Celino - KeyBanc Capital Markets Scott Berg - Needham & Company Terry Tillman - Truist Securities Hannah Rudolph - Piper Sandler Yun Kim - Loop Capital Markets Operator Thank you for standing by, and welcome to ServiceTitan's Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode.
ServiceTitan Made Waves in Its IPO, But Is the Stock a Buy?
One of the hottest stocks to have its initial public offering (IPO) recently is tech company ServiceTitan NASDAQ: TTAN. The software company made headlines after its valuation jumped over 42% on its first trading day.
Analysts embrace ServiceTitan's market-share potential in parade of buy ratings
The software maker for blue-collar businesses, which recently went public, draws “buy” or “overweight” ratings from at least six analysts.
ServiceTitan initiated with a Neutral at Citi
Citi initiated coverage of ServiceTitan with a Neutral rating and $109 price target. ServiceTitan is a vertical software-as-a-service company focused on providing purpose-built software for the trades industry, the analyst tells investors in a research note. The firm has a positive bias on the business but looks for a better entry point into the shares. The stock trades at a "steep valuation premium" to peers and Citi would like to get better conviction around the pace of profitability improvements given its "underwhelming Rule-of-40 standing," contends the analyst.
ServiceTitan: New IPO Hasn't Blown Out Of Proportion Yet; Worth Buying
Shares of ServiceTitan have jumped ~40% since their IPO at $71 per share in mid-December, but there's more upside to go. I'm initiating the stock at a buy rating. The company offers a comprehensive product platform for the trades industries and has a great "land and expand" business model with high net revenue retention. TTAN balances mid-20s growth with positive pro forma operating profits, making it an attractive buy post-IPO.
ServiceTitan: Hottest IPO Just Became Too Hot
ServiceTitan's IPO saw significant demand, but post-IPO trading indicates heightened expectations and increased risk, suggesting a potential pullback in shares. TTAN aims to disrupt the field service industry by replacing manual processes with intuitive software, targeting an underserved SMB market. Despite strong financial metrics like 24% YoY revenue growth and >95% gross dollar retention, profitability remains a concern with recent non-GAAP operating losses.
U.S. IPO Weekly Recap: ServiceTitan Shines In 3 IPO Week
Three IPOs and three SPACs listed this week - ServiceTitan, Anteris Technologies, NetClass, Mountain Lake Acquisition, Roman DBDR Acquisition II, and Jackson Acquisition II, respectively. Three IPOs and two SPACs submitted initial filings - TMD Energy, Grande Group, Leifras, ChampionsGate Acquisition, and Gansu Yunzhao Ruyi Technology, respectively. With the Christmas holiday on the horizon, there are no IPOs currently scheduled to price in the week ahead.
TTAN's Market Debut in "Massive" Software Market
ServiceTitan (TTAN) began public trading today, opening at $101 per share off an IPO priced at $71. Byron Deeter talks about how the company's focus on trade industries distinguishes it from other software companies serving a "massive addressable market.
ServiceTitan Stock Jumps 40% in Trading Debut
Shares of ServiceTitan (TTAN) rocketed higher on the company's as investor appetite for its initial public offering surpassed expectations on its first day of trading.
ServiceTitan's IPO is a big winner that could inspire fintechs
ServiceTitan, which offers financial and customer management software for the trades, went public in a big way on Thursday, much to the delight of retail investors. The stock quickly popped from its opening IPO sales price of $71 million to $105 a share in modest trading volume.
ServiceTitan Makes a Splash in Wall Street Debut
Home repair software business ServiceTitan makes a splash in their IPO debut. Co-founders Ara Mahdessian and Vahe Kuzoyan discuss the company's future and growth with Caroline Hyde on "Bloomberg Technology.
ServiceTitan opens at $101 per share, well above IPO price: Here's what investors need to know
Tim Seymour, CIO of Seymour Asset Management, joins CNBC's 'The Exchange' to discuss ServiceTitan's IPO, what he's looking for in its IPO and the broader IPO market, and more.
