ServiceTitan, Inc.

Thank you for standing by and welcome to Service Titans third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Jason Reckle. Vice President, Investor Relations. Please, go ahead.

Thank you, Operator. Welcome, everyone, to Service Titan's first-ever public company earnings call. We're here to discuss our Q3 FY25 results announced in our press release issued after the market closed today. We've also released an investor presentation, which can be found on our website. With me are Service Titan's co-founder and CEO, Aram Adessian, co-founder and president, Vahe Kazilian, and CFO, Dave Sherry. Today's call will contain forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed to be forward-looking. These include, among others, statements concerning our expected future financial performance, including our outlook and business plans and objectives, as well as our product roadmap, long-term targets, and goals. These statements reflect our views as of today only, and should not be relied upon as representing our views at any subsequent date, and we do not undertake any duty to update these statements. Forward-looking statements address matters that are subject to risks and uncertainties that could cause actual results to differ materially. Actual results could differ materially from those contemplated by our forward-looking statements. Reported results should not be considered an indication of future performance. Please take a look at our filings with the SEC for a discussion of the factors that could cause our actual results to differ including our final prospectus filed on December 12th, 2024. As a reminder, we previously disclosed certain preliminary fiscal third quarter operating results under the recent development section of our final prospectus dated December 12th, 2024. Today, we are providing the final fiscal third quarter financial results and our guidance for the fourth quarter and full fiscal year. During the call, we'll discuss non-GAAP financial measures which are not prepared in accordance with generally accepted accounting principles. Definitions of these non-GAAP financial measures, along with reconciliations to our GAAP financial measures, are included in our third quarter earnings release, which we have filed with the SEC and is available on our website at investors.servicetitan.com. These non-GAAP financial measures are not intended to serve as a substitute for our GAAP results. And with that, let me turn the call over to Ara. Ara?

Thank you, Jason. I'd like to begin today by extending our sympathy to the Titans, the customers, and the communities that have been impacted by the devastating wildfires in the LA area. Our hearts are with you all during this saddening crisis, and we are here to support you all as we forge ahead together. And thank you all for joining us for our first earnings call. Since we just met with you a month ago on our roadshow, our goal today is to reinforce the key points we shared with you and to begin to establish a public company operating rhythm. We are grateful for the time you've all invested in getting to know our business. Our goal is to be good stewards of capital as we build what hopefully becomes a generational company and the operating system for the trades. Our December IPO was an important milestone for both our business as well as for the trades. And it marked just how far we've come together. Our ideal, however, was never the destination. And in fact, it's just the beginning of a new era for Service Titan, for our customers, and for the trades. Because the only thing more exciting to me than how far we've come is just how much further we have yet to go. We are obsessed with this industry because we grew up in it. It's in our DNA. We grew up watching our dads put hours and hours into building their trades businesses and struggled to see the financial success we thought they deserved. They sacrificed so much to give us a brighter future. And so we built Service Titan to solve the problems that they faced. And thankfully today, our dads are no longer our only customers. And on our IPO Roadshow, we shared our aspirations to build a generational company. and why we believe we have the five underlying drivers required to enable this journey. I'd like to remind you of these drivers today. First, our market opportunity is large and durable. Second, we're the leader in the market. Third, our competitive moat gets deeper every day. Fourth, we have many vectors to grow our business with a plan in place for each. And fifth, we target a long-term business model to grow efficiently and become highly profitable over time. So let's first talk about our market opportunity. We estimate that end customers spend roughly $1.5 trillion annually on services in the trades in the US and Canada alone. And on your way home today, I'd like to encourage you to pay attention to just how many trades vehicles you see on the road. This industry is ubiquitous, it's essential, and the jobs these men and women in the trades complete every day are immediate, are preventative, or non-discretionary in nature. People simply do not go without air conditioning in the scorching heat, or heat in the freezing cold, or without plumbing. So even in difficult times, the trades keep our society running. We executed consistently well against the backdrop of this healthy market during Q3, and we're working hard to execute against the estimated $13 billion of addressable revenue opportunity in front of us today. The second and third underlying drivers are our market leadership position and the widening moat around Service Titan, each based on the fact that we power our customers' entire business end-to-end across nearly every key workflow. We are essential to the success of our customers' businesses, and our business is built around maximizing their success. Our software optimizes our customers' business across their entire funnel to help them increase revenue and profits. This makes us mission critical, and the transformational customer outcomes we help deliver attract new customers so that they can better compete in the market. This expands the customer footprint upon which we can offer our integrated portfolio of pro products to further expand effective earn rate and net dollar retention. This is a powerful flywheel that extends our leadership position, it deepens our moat, and it strengthens our ability to deliver future customer value. Our obsession with making customers successful, our position as part of the trades, and our visibility into the full workflow of our customers have positioned us to continue to grow. Now, before I turn it over to my better half of work to talk about our fourth driver, our growth sectors, I want to step back to thank our customers and our team. We are in the position that we are in today because of our customers' trust and partnership, because of the transformation ROI that we are able to deliver for them, and because of the team that works tirelessly every day to make sure that this happens. We won't stop until we've helped every contractor transform their business with service titan. Vahe.