ServiceTitan: Usage And Max Make The Growth Story Stronger

ServiceTitan earns a Buy rating as its revenue growth broadens beyond customer additions, leveraging deeper platform monetization opportunities. TTAN currently captures only ~1% of $86B LTM GTV as revenue, with significant upside as take rates increase through payments, automation, and commercial workflows. The rollout of Max, TTAN’s AI-driven automation suite, is accelerating, with adoption doubling sequentially and >10% of jobs automated for ramped customers. Valuation upside is substantial: if TTAN doubles its take rate to 2%, market cap could approach $13B, nearly doubling from current levels.