ServiceTitan Files for IPO

Ticker: TTAN · Form: S-1 · Filed: Nov 18, 2024 · CIK: 1638826

Servicetitan, Inc. S-1 Filing Summary
FieldDetail
CompanyServicetitan, Inc. (TTAN)
Form TypeS-1
Filed DateNov 18, 2024
Risk Levelmedium
Pages15
Reading Time19 min
Key Dollar Amounts$685M, $628, $51.5 million, $35.7 million, $1 billion
Sentimentneutral

Sentiment: neutral

Topics: ipo, registration-statement, software

TL;DR

ServiceTitan just filed its S-1, looks like they're going public soon.

AI Summary

ServiceTitan, Inc. filed an S-1 registration statement on November 18, 2024, indicating its intent to become a publicly traded company. The company, incorporated in Delaware, is based in Glendale, California, and operates in the pre-packaged software industry. This filing is a preliminary step before an Initial Public Offering (IPO), allowing the company to offer its securities to the public.

Why It Matters

This S-1 filing marks ServiceTitan's official move towards becoming a public company, which could significantly impact its growth trajectory and the competitive landscape of software solutions for home and commercial services.

Risk Assessment

Risk Level: medium — As a pre-IPO filing, the company's financial performance and future prospects are still subject to market conditions and execution risks.

Key Numbers

  • 333-283296 — SEC File Number (Identifies this specific registration statement with the SEC.)
  • 0001638826 — Central Index Key (Unique identifier for ServiceTitan in SEC filings.)

Key Players & Entities

  • ServiceTitan, Inc. (company) — Registrant
  • November 18, 2024 (date) — Filing Date
  • Delaware (jurisdiction) — State of Incorporation
  • Glendale, California (location) — Principal Executive Offices
  • Ara Mahdessian (person) — Chief Executive Officer
  • Latham & Watkins LLP (company) — Legal Counsel

FAQ

What is the purpose of this S-1 filing?

The S-1 filing is a registration statement required by the SEC for companies intending to offer securities to the public, marking the initial step before an Initial Public Offering (IPO).

When was this S-1 filing submitted?

The S-1 filing was submitted to the SEC on November 18, 2024.

Where is ServiceTitan, Inc. headquartered?

ServiceTitan, Inc.'s principal executive offices are located at 800 N. Brand Blvd., Suite 100, Glendale, California 91203.

Who is the Chief Executive Officer of ServiceTitan, Inc.?

Ara Mahdessian is the Chief Executive Officer of ServiceTitan, Inc.

What is ServiceTitan's Standard Industrial Classification (SIC) code?

ServiceTitan, Inc.'s SIC code is 7372, which falls under SERVICES-PREPACKAGED SOFTWARE.

Filing Stats: 4,625 words · 19 min read · ~15 pages · Grade level 13.8 · Accepted 2024-11-18 11:01:50

Key Financial Figures

  • $685M — Table of Contents Table of Contents $685M $628 >95% Revenue for the 12 months end
  • $628 — of Contents Table of Contents $685M $628 >95% Revenue for the 12 months ended Ju
  • $51.5 million — s of July 31, 2024. 3. Our net loss was $51.5 million and $35.7 million for the three months
  • $35.7 million — . 3. Our net loss was $51.5 million and $35.7 million for the three months ended July 31, 202
  • $1 billion — ith a few employees to others with over $1 billion in annual gross transaction volume. Alo
  • $1.5 — o as end customers, spend approximately $1.5 trillion annually on trades services fo

Filing Documents

RISK FACTORS

RISK FACTORS 30 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS 75 INDUSTRY, MARKET AND OTHER DATA 77

USE OF PROCEEDS

USE OF PROCEEDS 79 DIVIDEND POLICY 80 CAPITALIZATION 81

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 88

BUSINESS

BUSINESS 120 MANAGEMENT 155

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 163 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 178 PRINCIPAL STOCKHOLDERS 185

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 189 DESCRIPTION OF CERTAIN INDEBTEDNESS 199 SHARES ELIGIBLE FOR FUTURE SALE 201 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS 206

UNDERWRITING

UNDERWRITING 210 LEGAL MATTERS 217 EXPERTS 217 WHERE YOU CAN FIND ADDITIONAL INFORMATION 217 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 Through and including , 2025 (the 25 th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealers obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription. Neither we nor any of the underwriters have authorized anyone to provide any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses we have prepared. Neither we nor any of the underwriters take responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the shares offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of its date, regardless of the time of delivery of this prospectus or of any sale of our Class A common stock. For investors outside the United States: Neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our Class A common stock and the distribution of this prospectus outside the United States. Table of Contents PROSPECTUS SUMMARY This summary highlights selected information that is presented in greater detail elsewhere in this prospectus. This summary does not contain all of the infor

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