and related employer 
    payroll taxes            13%       13%          13%       16% 
   Amortization of 
    acquired intangible 
    assets                    6%        7%           6%        8% 
   Restructuring charges      0%        0%           0%        2% 
   Acquisition-related 
    items                     0%       (0)%          0%       (0)% 
   Loss on operating 
    lease assets              4%        0%           7%        0% 
                           ----      ----   ----  ----      ---- ---- 
Non-GAAP operating margin     1%       (3)%          3%       (4)% 
                           ====      ====    ===  ====      ====  === 
 

Non-GAAP Net Income (Loss)

 
                          Three Months Ended      Nine Months Ended 
                              October 31,            October 31, 
                          -------------------   --------------------- 
                            2024       2023       2024        2023 
                          --------   --------   ---------   --------- 
                                        (in thousands) 
GAAP net loss             $(46,460)  $(39,672)  $(138,151)  $(143,733) 
   Stock-based 
    compensation expense 
    and related employer 
    payroll taxes           25,784     20,330      70,762      73,838 
   Amortization of 
    acquired intangible 
    assets                  11,473     11,533      34,483      34,991 
   Restructuring charges        --         --       2,496       7,643 
   Acquisition-related 
    items                        6        (10)      2,183        (893) 
   Loss on operating 
    lease assets             8,347         --      38,515          -- 
   Income tax effects 
    related to the above 
    adjustments (1)           (298)       632      (1,207)      1,508 
                           -------    -------    --------    -------- 
Non-GAAP net income 
 (loss)                   $ (1,148)  $ (7,187)  $   9,081   $ (26,646) 
                           =======    =======    ========    ======== 
 
 

(1) This amount represents adjustments for the current and deferred income tax effects on non-GAAP net income (loss) for the impact of the non-GAAP adjustments above.

Free Cash Flow

 
                   Three Months Ended    Nine Months Ended 
                      October 31,           October 31, 
                   ------------------   ------------------- 
                    2024       2023       2024       2023 
                   -------   --------   --------   -------- 
                                (in thousands) 
Net cash provided 
 by (used in) 
 operating 
 activities        $15,534   $    418   $ 21,626   $(45,564) 
   Capitalized 
    internal-use 
    software        (3,961)    (3,784)   (14,161)   (12,831) 
   Purchase of 
    property and 
    equipment       (1,002)    (2,786)    (2,803)   (23,401) 
   Deposits for 
    property and 
    equipment            -        (54)         -       (344) 
                    ------    -------    -------    ------- 
Non-GAAP free 
 cash flow         $10,571   $ (6,206)  $  4,662   $(82,140) 
                    ======    =======    =======    ======= 
 
Press Contact 
Max Wertheimer 
ServiceTitan, Inc. 
press@servicetitan.com 
 
Investor Contact 
Jason Rechel 
ServiceTitan, Inc. 
investors@servicetitan.com 

(END) Dow Jones Newswires

January 13, 2025 16:05 ET (21:05 GMT)