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Call sheet · Q2'27

ServiceTitan (TTAN)

Q2'27 earnings call · held September 8, 2026 · compared with the Q1'27 call · management-credibility review
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Disclosure score
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Financial quality
Bottom line
ServiceTitan is funding a larger AI opportunity while maintaining growth and raising profit guidance. The harder underwriting issue is not whether Max attracts demand, but whether implementations scale profitably while customer activity moderates. Strong liquidity buys time; SBC-heavy earnings, expanding service losses and collection-related cash absorption make billed cohort economics the next decisive evidence. [1][3][4]

What changed this quarter

MetricQ1'27Q2'27Change
Revenue$242.123 million, Q2 FY2026$292.756 million, Q2 FY2027Growth of 20.9%; subscription and usage gains outweighed declining professional-services revenue. [3]
GAAP net income / EPSNet loss $32.225 million; basic/diluted EPS -$0.35Net loss $24.921 million; basic/diluted EPS -$0.26Loss narrowed by $7.304 million year over year. [3]
Management-adjusted earningsNet income $32.845 million; diluted EPS $0.33Net income $39.724 million; diluted EPS $0.40Adjusted net income rose 20.9%; the new 18% non-GAAP tax convention affects comparability. [3]
Operating cash flow / free cash flowQ2: $40.340 million / $34.300 millionQ2: $57.989 million / $50.455 millionCFO rose 43.8% and FCF 47.1%; YTD figures are $56.424 million and $40.875 million, respectively. [3]
FY2027 guidanceRevenue $1,130-1,140 million; non-GAAP operating income $142-147 millionRevenue $1,139-1,144 million; non-GAAP operating income $152-154 millionMidpoints increased $6.5 million and $8.5 million, respectively; implied second-half revenue fell modestly after the Q2 beat. [1][2][3]
Max locationsQ1 FY2027 ended with just over 100 enrolled locations, clarified on current callManagement reports exceeding Q2 doubling goal; target above 700 enrolled locations at FY2027 endThe exact Q2 count and enrolled-to-live conversion remain unavailable. [1][2]

Accountability tracked

6 prior promises scored
Inside the full report
The complete write-up covers the full promise ledger with kept/missed calls, disclosure-quality scoring, the metrics-vanished check, verification items, and the questions to ask next quarter.
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Scores, kept-promise rates, and flags on this site reflect the author's opinion, applying a stated methodology to statements management made on public earnings calls. Informational and educational purposes only - not investment advice, a recommendation, or an offer to buy or sell any security. Sources believed reliable but not guaranteed; the author may hold positions in the securities discussed.

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