ServiceTitan, Inc.

Thank you for standing by and welcome to Service Titan's first quarter fiscal year 2026 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 11 on your telephone. To remove yourself from the queue, you may press star 11 again. I would now like to hand the call over to Jason Reckle, VP of Investor Relations.

Please go ahead. Thank you, Operator, and welcome everyone to ServiceTitan's Fiscal First Quarter 2026 Earnings Conference Call. With me are ServiceTitan's Co-Founder and CEO, R.M. Adessian, Co-Founder and President, Vahe Kazoyan, and CFO, Dave Sherry. During today's call, we will review our Fiscal First Quarter 2026 results. We will also discuss our guidance fiscal quarter and full fiscal year 2026. Before we get started, we want to draw your attention to the safe harbor statement included in today's press release and emphasize that information discussed on this call, including our guidance, is based on information as of today and contains forward-looking statements that involve risks, uncertainties, and assumptions. All statements other than statements of historical fact could be deemed to be forward-looking. Forward-looking statements reflect our views as of today only, and except as required by law, we undertake no obligation to update or revise these forward-looking statements. Please take a look at our filings with the SEC for a discussion of the factors that could cause our actual results to differ. We also want to point out that we present non-GAAP measures in addition to and not as a substitute for financial measures 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 earnings release, which we have furnished with the SEC, and is available on our website at investors.servicetitan.com. Unless otherwise stated, all references on this call to platform gross margin, total gross margin, operating income, operating margin, free cash flow, and related growth rates are on a non-GAAP basis. Finally, we've posted an updated investor presentation that can be found on our investor relations website at investors.servicetitan.com, along with a replay of this call. And with that, let me turn the call over to Ara. Ara?

Thank you, Jason, and thank you for joining us as we update you on our progress against our mission. Our growth formula is simple. We deliver real ROI to our customers. helping them further their success and reach even greater financial outcomes. And this allows them to grow their businesses, which drives more technicians and GTVs on our platform and leads to higher subscription and usage revenue for us. As they realize the value of our software, they buy more pro products, which continues to drive our growth and allows us to reinvest in more high ROI solutions. I am humbled, by the way, that our team, in partnership with our customers, performed this order to get us off to a good start in FY26. Year over year, we delivered 29% subscription revenue growth, 27% total revenue growth, and record operating margins, which improved 560 basis points. Our sales team delivered consistent performance Our product and engineering teams are executing well on our roadmap, and I am pleased that several of the largest and most strategic accounts, both residential and commercial, went live this quarter. Against the backdrop of economic uncertainty, this quality and breadth of execution underscores our opportunity to transform the lives of every hardworking contractor in the trades. Our focus on delivering ROI and obsession with the financial outcomes of our customers extends from the sales process to implementation and go live and to ongoing customer success. Our customers are our most important partners, and I'd like to today share two customer stories to demonstrate how our customer success translates into our own success. In 2016, Our software had not yet been built for the garage door industry. And then I received a call from Tommy Mello, who was ready to take A1 Garage Door to the next level. We worked together to augment Service Titan for the needs of garage door customers, optimizing workflows that are unique to the trade. Tommy took an early risk on Service Titan, but the bet paid off. A1 doubled revenue to almost 20 million in its first year on the platform and hasn't looked back. With the full capabilities of the service titan, A1 Garage has expanded into 22 states with hundreds of technicians and nine-digit revenues. After recently deploying Dispatch Pro to simplify and automate dispatching, A1 took its most recent step forward in efficiency. And with Dispatch Pro, A1 told us they added another 150 technicians to the platform without adding a single additional dispatcher. This allowed A1 to nearly double its tech to dispatcher ratio from around 10 to 1 to 20 to 1, while also improving lead conversion at the same time. As a result of this most recent success, A1 shared with us in February that they had just surpassed 21 million in monthly revenue for the first time. Quote, ServiceTitan has been a game-changing partner in our success, Tommy shared. This is our model as we extend into new trades. We're pulled by customers, we create outsized value as we build trade-specific workflows on our platform, and that attracts a new industry onto ServiceTitan. The current breakout success of Guild Garage demonstrates this maturity. Shield Garage is a national residential garage door services platform founded in 2024 by three young entrepreneurs who saw an opportunity to consolidate what they perceived to be a large, fragmented, and recession-resilient market. The team shared the quote, the decision to use service-tightened products across the entire platform was a no-brainer. Service Titan has been our secret weapon since day one." End quote, since like faster growth with higher margins. Bill shared that in 2024 alone, the team completed 14 acquisitions and has since grown to over 20 operating companies, 700 employees, 400 managed technicians, and is on track to surpass 250 million of revenue in 2025. Service Titan enables Guild to not only fully integrate their partner companies in less than 60 days, but also continue to achieve high-teens organic growth as the platform has scaled. The team shared that they standardized all operations and all workflows on Service Titan across all portfolio companies, which allows them to streamline operations to drive growth, improve decision-making, strengthen the technician experience, and enhance the customer experience. Guild has deployed pro products wall-to-wall. Capabilities like Ads Optimizer deliver ROI that dynamically optimizes marketing spend across multiple campaigns for all portfolio companies. With a centralized marketing platform and a model that combines the benefits of local autonomy with centralized leadership, it's no surprise that Guild is one of our fastest growing customers. from zero to 200 million in less than 18 months is truly inspirational. But we know that the team is only just warming up, and we can't wait to watch what they'll do next. These types of business transformations are all that we care about. I receive texts and calls daily from our customers with similar stories. To build on the foundation of the success, we're building a series of stacking S-curves that will put us in a position to continue to deliver transformative customer outcomes. Last quarter, we outlined our four primary areas of focus for this fiscal year to further expand our enterprise capabilities, to further expand pro-product adoption, to go deeper in commercial, and to grow in roofing. We are executing well against each priority, which has established a strong foundation for service Titan to begin FY26. I'll now pass it to Vaya, who will share more details on our progress.