TTANHIGH SIGNALFINANCIAL10-K

TTAN delivered exceptional operational turnaround with operating cash flow surging 197% to $110M while dramatically reducing net losses by 33% despite substantial revenue growth of 25%.

This represents a material inflection point showing TTAN has achieved significant operating leverage, converting strong revenue growth into dramatically improved cash generation and profitability metrics. The combination of nearly tripling operating cash flow while simultaneously reducing losses by over $79M indicates the company has reached a critical scale threshold where its business model is demonstrating strong unit economics.

Comparing 2026-03-25 vs 2025-04-02View on EDGAR →
FINANCIAL ANALYSIS

TTAN showed remarkable financial improvement across all key metrics, with revenue growing 25% to $961M and gross profit expanding 35% to $674M, indicating strong pricing power and operational efficiency gains. The company dramatically improved its financial position with operating cash flow nearly tripling to $110M, net losses narrowing by $79M to -$160M, and total liabilities decreasing 30% to $220M, demonstrating excellent cash conversion and debt management. This comprehensive improvement across revenue growth, profitability, cash generation, and balance sheet strength signals a company that has successfully scaled past key operational thresholds and is positioned for sustained profitability.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+197.2%
$37.1M$110.1M

Operating cash flow surged 197.2% — exceptional cash generation, highest quality earnings signal.

Gross Profit
P&L
+34.5%
$500.9M$673.7M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Net Income
P&L
+33.1%
-$239.1M-$159.9M

Net income grew 33.1% — bottom-line growth signals improving overall business health.

Total Liabilities
Balance Sheet
-30%
$314.1M$219.8M

Liabilities reduced 30% — deleveraging improves balance sheet strength and financial flexibility.

Operating Income
P&L
+26.4%
-$230.0M-$169.2M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

Accounts Receivable
Balance Sheet
+25.9%
$44.5M$56.0M

Receivables grew 25.9% — monitor days sales outstanding for collection efficiency.

Revenue
P&L
+24.5%
$771.9M$961.0M

Revenue growing 24.5% — solid top-line momentum, watch margins for quality of growth.

Capital Expenditure
Cash Flow
+23.8%
$3.8M$4.7M

Capex increased 23.8% — ongoing investment in capacity or infrastructure for future growth.

R&D Expense
P&L
+15%
$263.1M$302.6M

R&D investment increased 15% — signals commitment to future product development, though near-term margin impact.

Current Liabilities
Balance Sheet
+10.7%
$153.1M$169.5M

Current liabilities rose 10.7% — increased short-term obligations, watch current ratio.

LANGUAGE CHANGES
NEW — 2026-03-25
PRIOR — 2025-04-02
ADDED
As of March 16, 2026, 82,610,069 shares of the registrant s Class A common stock were outstanding, 12,651,154 s hares of the registrant s Class B common stock, par value $0.001 per share, were outstanding, and no shares of the registrant s Class C common stock, par value $0.001 per share, were outstanding.
Words such as anticipate, believe, contemplate, continue, could, estimate, expect, intend, may, plan, potential predict, project, should, target, or will, or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
We cannot guarantee that our internal control over financial reporting will continue to be effective or that we will not experience material weaknesses in the future, which could result in an adverse opinion from our independent registered public accounting firm regarding the effectiveness of our internal control, affect the reliability of our financial statements, and have other adverse consequences.
Because of these factors, we are fundamentally able to turn insights into action, a foundation that is accelerated by our growing AI capabilities and that we believe positions us to create the agentic operating system for the trades.
This has helped and, we believe, will continue to help our customers grow and further professionalize their businesses, positioning them to accelerate revenue, drive operational efficiency and deliver a superior end-customer service experience.
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REMOVED
The registrant s Class A common stock began trading on the Nasdaq Global Select Market on December 12, 2024.
As of March 15, 2025, 76,732,506 shares of the registrant s Class A common stock were outstanding, 13,404,097 shares of the registrant s Class B common stock, par value $0.001 per share, were outstanding, and no shares of the registrant s Class C common stock, par value $0.001 per share, were outstanding.
In some cases, you can identify forward-looking statements because they contain words such as anticipate, believe, contemplate, continue, could, estimate, expect, intend, may, plan, potential predict, project, should, target, or will, or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions.
The material weaknesses in our internal control over financial reporting, which we first identified in fiscal 2019, were remediated as of the end of fiscal 2024.
While we remediated these material weaknesses, such remediation does not guarantee that our remediated controls will continue to be effective or that we will not experience other material weaknesses in the future, which could affect the reliability of our financial statements and have other adverse consequences.
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