ServiceTitan, Inc. Goodwill & Intangibles Disclosure
Intangible Assets
The net book values of intangible assets were as follows (in thousands, except years):
|
|
As of January 31, 2026 |
||||||||||||
|
|
Gross Fair |
|
|
Accumulated |
|
|
Net Book |
|
|
Weighted |
|||
Customer relationships |
|
$ |
208,733 |
|
|
$ |
(93,910 |
) |
|
$ |
114,823 |
|
|
7.0 |
Developed technology |
|
|
162,401 |
|
|
|
(100,649 |
) |
|
|
61,752 |
|
|
3.1 |
Tradenames |
|
|
6,753 |
|
|
|
(6,585 |
) |
|
|
168 |
|
|
0.7 |
Total |
|
$ |
377,887 |
|
|
$ |
(201,144 |
) |
|
$ |
176,743 |
|
|
|
|
|
As of January 31, 2025 |
||||||||||||
|
|
Gross Fair |
|
|
Accumulated |
|
|
Net Book |
|
|
Weighted |
|||
Customer relationships |
|
$ |
205,233 |
|
|
$ |
(73,248 |
) |
|
$ |
131,985 |
|
|
7.7 |
Developed technology |
|
|
159,001 |
|
|
|
(77,210 |
) |
|
|
81,791 |
|
|
3.8 |
Tradenames |
|
|
6,683 |
|
|
|
(5,507 |
) |
|
|
1,176 |
|
|
1.1 |
Total |
|
$ |
370,917 |
|
|
$ |
(155,965 |
) |
|
$ |
214,952 |
|
|
|
Amortization expense for intangible assets was as follows (in thousands):
|
|
Fiscal |
|
|||||||||
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
|||
Platform cost of revenue |
|
$ |
22,102 |
|
|
$ |
21,902 |
|
|
$ |
21,844 |
|
Professional services and other cost of revenue |
|
|
1,336 |
|
|
|
1,786 |
|
|
|
4,484 |
|
Sales and marketing |
|
|
21,741 |
|
|
|
22,237 |
|
|
|
22,489 |
|
Total |
|
$ |
45,179 |
|
|
$ |
45,925 |
|
|
$ |
48,817 |
|
As of January 31, 2026, estimated future amortization expense related to the intangible assets is as follows (in thousands):
Fiscal |
|
|
|
|
2027 |
|
$ |
38,916 |
|
2028 |
|
|
37,610 |
|
2029 |
|
|
35,101 |
|
2030 |
|
|
18,605 |
|
2031 |
|
|
15,870 |
|
Thereafter |
|
|
30,641 |
|
Total |
|
$ |
176,743 |
|
Goodwill
The changes to goodwill were as follows (in thousands):
|
|
Fiscal |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Balance, beginning of the year |
|
$ |
845,836 |
|
|
$ |
830,872 |
|
Increase in goodwill related to business combinations |
|
|
14,414 |
|
|
|
14,964 |
|
Balance, end of the year |
|
$ |
860,250 |
|
|
$ |
845,836 |
|
No indicators of impairment of goodwill were identified during fiscal 2026, 2025 and 2024, and accordingly, the Company has not recorded any impairment of goodwill during those periods.
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About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.