• Service Titan S-1 filing for IPO Review

  • Dec 12 2024
  • Length: 27 mins
  • Podcast

Service Titan S-1 filing for IPO Review

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  • Summary

  • ServiceTitan, a vertical SaaS company for the trades recently filed their S-1 and went public on December 12, 2024. Dave "CAC" Kellogg and Ray "Growth" Rike discuss many details regarding the S-1 including the basic enterprise value creating performance metrics and some very interesting aspects of the IPO structure.

    During this episode, Dave and Ray discuss several aspects of the S-1 and IPO measured against industry benchmarks including:

    • ARR Growth Rate
    • Rule of 40
    • Net Dollar Retention Rate
    • CAC Payback Period
    • Gross Margin
    • S&M as a percentage of revenue
    • R&D as a percentage of revenue
    • ARR per FTE
    • Revenue breakdown by category (Subscription, Gross Transaction Value, Services)
    • Down round from last rounds of funding as a private company
    • Compounding IPO Ratchet
    • Different classes of stock and voting rights


    One of the sources of information used for this episode was the Meritech Capital S-1 breakdown which can be read here.

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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