ServiceTitan Stock Plummets Over 30% Despite Strong Q2 Results
ServiceTitan (NASDAQ: TTAN) experienced a significant drop in its stock price, falling over 30% during Wednesday's trading session. This sharp decline occurred despite the company reporting better-than-expected second-quarter financial results after market close on Tuesday. The firm reported non-GAAP earnings per share of $0.40 and revenue of $292.8 million for Q2, both exceeding analyst expectations. The strong performance was attributed to robust demand for its AI-based operating system in the construction and home maintenance sectors as well as over $50 million in adjusted free cash flow. However, investors were disappointed by ServiceTitan's forward guidance. For the current fiscal quarter, it projected revenue between $285 million and $287 million—slightly below analyst estimates of $288 million. While management raised its full-year sales forecast to a range of $1.139 billion to $1.144 billion, some market participants viewed the near-term guidance as underwhelming.
Tickers: $TTAN
Topics: Earnings Results Guidance Market Reaction Stock Performance