Shares of ServiceTitan (TTAN) tumbled 11.83% in after-hours trading on Thursday following the release of the company's fiscal first quarter 2026 results and updated full-year guidance. The software platform provider for the trades industry reported mixed results for the quarter but lowered its revenue outlook for the full fiscal year 2026.
For the first quarter, ServiceTitan reported total revenue of $215.7 million, up 27% year-over-year from $170.3 million. The company's platform revenue, which accounts for the majority of its business, grew 27% to $208.0 million. Despite the strong top-line growth, ServiceTitan posted a GAAP loss from operations of $49.5 million, narrowing from a loss of $53.4 million in the same period last year.
However, investors appeared more focused on the company's updated guidance. ServiceTitan now expects full fiscal year 2026 revenue to be between $910 million and $920 million, which is lower than previous expectations. The company also provided second-quarter revenue guidance of $228 million to $230 million. While these figures still represent significant year-over-year growth, they may have fallen short of investor expectations, leading to the sharp sell-off in after-hours trading.
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