ServiceTitan Shares Slide on Soft Revenue Outlook

The business-management platform for trade contractors anticipates third-quarter revenue between $285 million and $287 million. Analysts had pegged their expectations slightly higher at $287.9 million. Despite this shortfall, the company adjusted its full-year revenue guidance upward, now projecting a range of $1.139 billion to $1.144 billion.

Financial results for the second quarter painted a more optimistic picture. ServiceTitan reported revenue of $292.8 million, a 21% increase that beat analyst consensus of $285.9 million. The company also successfully narrowed its losses to $24.9 million, or 26 cents per share, compared with a $32.2 million loss, or 35 cents per share, during the same period last year. Shares hit $65.48 following the announcement, reflecting investor anxiety over the upcoming quarterly performance.