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Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 5:00 p.m. ET Senior Vice President, Investor Relations - David Trone Chairman and Chief Executive Officer - John Hall Chief Financial Officer - David Morton Operator: Hello, everyone. Thank you for joining us, and welcome to the Intapp Fiscal Fourth Quarter 2026 webcast. [Operator Instructions] I will now hand the conference over to David Trone, Senior Vice President, Investor Relations. Please go ahead. David Trone: Thank you. Welcome to Intapp's Fiscal Fourth Quarter and Year-end 2026 Financial Results. On the call with me today are John Hall, Chairman and CEO of Intapp; and David Morton, Chief Financial Officer. During the course of this conference call, we may make forward-looking statements regarding trends, strategies and the anticipated performance of our business, including guidance provided for our fiscal first quarter and full year 2027. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date and are subject to various risks and uncertainties, including those described in our SEC filings and other publicly available documents that are difficult to predict and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Intapp disclaims any obligation to update or revise any forward-looking statements, except as required by law. Further on today's call, we will also discuss non-GAAP metrics that we believe aid in the understanding of our financial results, including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP diluted net income per share, free cash flow and free cash flow margin. Our GAAP financial results, along with reconciliations of GAAP to non-GAAP financial measures can be found in today's earnings release and its supplemental financial tables, which is available on our website and as an exhibit to the Form 8-K furnished with the SEC prior to this call or a supplemental financial presentation, which is available on our website. With that, I'll hand the conversation over to John. John Hall: Thanks, David. Good afternoon, everyone. Thank you for joining us. Q4 was another strong quarter, closing out a defining year for Intapp. This was the year that we took Firm AI from thesis to category. We launched Celeste, and we saw real proof that firms are ready to transform their business on it. Today, I'll share our fourth quarter and full year results, walk through what's happened with Firm AI and Celeste since Amplify, talk about our growing ecosystem and close with the wins that show our strategy working in the market. Heading into fiscal 2027, our position is strong and getting stronger. Celeste is now generally available across the highly regulated industries we serve. And I'll touch on specific wins in legal, accounting, private capital and investment banking later in the call. Our advantage is 25 years of firm-specific data, workflows and compliance infrastructure that a new entrant can't shortcut their way into. And our lead compounds every quarter as more firms move on to the Intapp platform. That's the foundation for the $50 billion market ahead. Before we get to the numbers, let me start with the strategic focus that's driving it, Firm AI and Celeste. This past February at Amplify, we announced Firm AI, a category distinct from desk level AI tools built for the business of the firm itself. Generic AI makes individuals faster. Firm AI makes the firm bigger. A generic assistant can help someone draft an e-mail or summarize the document. It can't screen an inbound deal against the firm's actual investment mandate, and it can't clear a conflict because both depend on the firm's own history and methods, not something available on the open Internet. It can't do conflicts clearance. Doing it properly means checking a new matter against every related entity, every past client, every wall already in place. But a generic assistant cannot be given that access due to compliance restrictions. That's exactly where Firm AI is built to work. We spent this past year watching firms put that distinction to the test. They run pilots with the same generic tools everyone has access to. And what they're telling us is consistent. Speed at the desk doesn't show up in the firm's numbers. Follow the economics, and you can see why. Practice AI commoditizes the work. Lower delivery costs let a firm offer a lower price and it competes for market share on that price. But everyone can do the same thing. So prices come down and gross margins come down with them. In a highly competitive industry, like the ones we serve, what actually drives any firm's growth, market share and operating margin is everything that happens after gross margin in the firm's go-to-market and in its OpEx efficiency, the business of the firm, not the practice of it. That's the gap Firm AI closes. And it's why we spent this year turning this thesis into a product. Delivering Firm AI takes 4 layers, working as one system. Coworker agents run on firm playbooks. So an agent already knows how the firm screens a deal, clears a conflict or decides to walk away. Those agents reason from the firm's own data and institutional judgment, the real history behind every client and every engagement. Walls for AI enforces compliance automatically, the same way every time. And it all compounds. Every decision the firm's people make trains Firm AI to get sharper the next time. A competitor might try to build any one of these layers. What they are not in a position to do is make all 4 work together as a single Firm AI system. That's the moat. Firm AI runs on Intapp's integrated products and the data and semantic layer underneath them. All of it is now powered by Celeste. We help the firm, through its own knowledge, relationships and methods, strengthen its own competitive advantage and compliance. You don't have to take our word for it. Shirin Veeran from Hg put it this way, "The intelligence is ours, not something generic applied to Hg. Celeste screens against our actual mandate, drawing on knowledge that we've built across the firm over 2 decades." At Pemberton Asset Management, Vasileios Filippidis describes the same effect in business terms, "Every minute that Celeste is saving us is being returned into value to our LPs and our clients." Two different firms saying the same thing in their own way. Celeste reinforces what the firm already knows at the scale the firm actually needs. Celeste was in limited availability throughout Q4, and we reached general availability on July 15 after the quarter closed. Even in limited availability, it was winning competitive evaluations and firms were already choosing it and finding value fast. Celeste is already integrated with your firm's Intapp data, available 24/7, more efficient, lets you accomplish more than people can in less time and enforces your compliance requirements. Let me highlight a few examples. BakerHostetler, an Am Law 100 firm, is adopting Celeste to streamline intake and lateral integration. In their CIO's words, "There is really no true beginning or end to a workday in a law firm. Knowing that Celeste is there all the time is key." A leading international law firm chose Celeste to modernize the technology and processes behind its compliance work and keep pace with new EU anti-money laundering regulations. World-leading M&A business, Alvarez & Marsal is moving to DealCloud with Celeste through a multiphase rollout, leveraging Firm AI for competitive advantage in data capture and transaction group collaboration. The pipeline is strong. The use cases are expanding and the best is still ahead. I'll turn now to our Q4 numbers. I'm pleased to say it was another strong quarter and that now we've had 20 consecutive quarters of cloud ARR growth above 25% year-over-year since our 2021 IPO. Q4 cloud ARR grew 29% year-over-year and now represents 84% of total ARR. We ended the quarter with more than 1,400 clients above $50,000 in ARR. Cloud net revenue retention held steady at approximately 123%. I'm proud of the Intapp team for delivering for our clients and partners and applying the expertise we've built since 2000 to serve highly regulated firms. I'll turn now to our partner ecosystem, which just keeps growing stronger and is often a decisive factor in how we win. Our co-sell partners influenced roughly 1/3 of our new logo wins for the year, contributing to approximately 35% year-over-year growth in co-sell bookings. Microsoft is the clearest example. They were a co-sell partner on 8 of our top 10 deals in the fiscal year. Buyers increasingly want to transact through the Azure Marketplace because it counts toward their MACC and simplifies procurement, and that commercial alignment is accelerating deal cycles. On the delivery side, partner-led projects nearly doubled year-over-year. Partner certifications grew 29% over the same period, a sign that services partners see Intapp as a platform worth investing in. Just after quarter end, we expanded our partnership with Moody's, bringing its credit risk, SDN screening and ownership data directly into Celeste. For deal and risk teams across legal, private capital and accounting, this means counterparty intelligence services in the flow of their work, not outside it as a separate research set. It's a good example of how the right data partnerships extend what Celeste can do for a firm without requiring the firm to do anything differently. Now let's take a closer look at the industries we serve. First, legal had a strong quarter and fiscal year. We ended the fiscal year with 97 of the Am Law 100. The consolidation trend continues to drive growth with our legal clients. Top firms are capturing further market share via mergers and partner laterals, and the largest firms are increasingly turning to Intapp for compliance as scaling and AML pressure push them to modernize intake and conflicts. I'll share a few legal highlights from the quarter. A global law firm chose Intake and Conflicts to establish a more integrated, scalable approach to conflicts clearance as its conflicts team grows. Eversheds Sutherland, another global law firm, deepened its investment in Time by adding Celeste functionality to accelerate its daily billable time capture and enhance time recording firm-wide. Two Am Law 100 firms moved from on-prem to cloud in Q4. They're part of a broader wave of more than 30 cloud migrations we signed in Q4, our highest quarterly migration number ever. It's clear that firms want to run on Celeste and need the foundation to support it, and that's driving urgency. Next, let's turn to accounting and consulting. As private equity and consolidation reshape the accounting landscape, firms across the industry are feeling the pressure to transform regardless of their investment status. Compliance is their starting point, but their ambitions run further to how they collaborate, win business and compete. Here are a few of the firms who turned to us this quarter for modernization. Wipfli, a PE-backed top 25 accounting firm, chose Employee Compliance to modernize its independence processes and establish a scalable foundation as it experiences rapid growth and an expanding attest practice. One of the world's largest professional services firms chose DealCloud to modernize its corporate development and M&A processes from target tracking through post-merger integration. Rimkus, a forensic engineering and technical consulting firm, selected Conflicts, Intake and Time to automate and accelerate their conflicts clearance process and consolidate time capture across their global team. A global accounting and advisory firm chose DealCloud with Celeste to create a central repository for their corporate finance deal data and drive efficiency and pipeline generation. All told, for fiscal '26, we added 20 new accounting and consulting logos. Now 17 of the top 20 accounting firms run on Intapp. I'll turn now to financial services. Financial services firms have spent years accumulating proprietary intelligence, deal history, relationship networks, investment mandates built over decades. The problem is that most of it lives in fragmented systems or in people's heads and generic AI has no compliant way to reach it. What we're seeing this quarter is firms moving decisively to change that, putting their own data to work in the front office with governed AI that knows the firm. I'll share a few highlights from the quarter. Hg, a leading software-focused PE firm, chose Celeste for their front office. Celeste screens new opportunities against Hg's actual investment mandate, drawing on comparable deals and bid or pass rationales built up across the firm over 2 decades. And it gives deal teams an always current view of pipeline speed and deal progress without the usual reporting burden. The result is a coworker grounded in how Hg actually invests. MP Corporate Finance, an investment banking firm, chose DealCloud with Celeste to gain a fully integrated investment banking configured platform built with agentic capabilities from day 1. A private capital firm specializing in primary and secondary investments chose DealCloud to manage its full deal flow in one place. And Real Assets is another area of continued momentum. Real estate and alternative investment firms are consolidating fragmented systems onto DealCloud, replacing point solutions with a single platform that connects pipeline, CRM, fundraising and investor relations. I'll share some examples. Mitiska REIM, an EMEA-based real estate investment management group is moving from a lightweight deal management tool onto DealCloud, gaining full pipeline tracking, CRM, contact management and fundraising in one system. Domain Capital, a multi-strategy alternative investment firm chose us to build a comprehensive investor relations solution to support its fundraising team. In prepping for this call, the team asked me if there were any anecdotes I could share with you. One conversation came to mind immediately. I was on the phone with the Chairman of one of the law firms I mentioned earlier. He told me, "I could not agree with this Firm AI strategy more. We put so much experimentation into the practice side. You all are the first people who are really speaking to us as a business." He described Celeste as a concierge his partners can lean on, delivering all of their business services through AI. That's exactly what we're building, and it's exactly what this market has been waiting for. To our clients, partners, investors, Board and the global Intapp team, thank you. This past quarter and year reflect your trust, hard work and dedication. David, over to you. David Morton: Thank you, John, and thanks to everyone for joining us today. We delivered a strong fourth quarter that closed out fiscal 2026, showcasing both steady progression during the year and significant end-of-year financial milestones. AI bookings stepped up sequentially through the year, anchored by a record quarter with Celeste Firm AI early adopter additions accelerating and AI now representing over 20% of net new bookings in FQ4. Cloud migration stepped up sequentially through the year, anchored by a record quarter. 95% of our clients now have Intapp in the cloud. Cloud net revenue retention sustained above 120% for all 4 quarters of FY '26 with FQ4 at 123%. Total net new ARR grew to surpass $100 million for the year, notably eclipsing the on-prem ARR base, which is now sub-$100 million as of FQ4. And free cash flow expansion translated to a new high watermark of 25% full year margin, entering the fiscal 2029 targeted range we outlined in February. These results reflect a business that is executing well and increasingly aligned to the AI opportunity ahead. Our thesis, AI for the business of the firm is resonating with the market and the market opportunity it addresses remains as large as any in the enterprise software. Just 2 quarters into the Celeste limited commercial availability, AI bookings doubled sequentially this quarter to over 20% of net new. Celeste Firm AI pilot monetization is building and alongside compounding migration activity, both are reinforcing the durability of the future demand trajectory. The Celeste general availability launch just a few weeks ago kicked off fiscal 2027 with an even wider opportunity for client adoption and bookings contribution to build over the coming quarters and years. And we are executing on our profitability and capital allocation objectives. Margins are building toward our FY '29 targets. We repurchased another 1 million-plus shares this quarter, and we expect to remain active with approximately $75 million remaining under our current authorization as we enter FY '27. Shares outstanding are down meaningfully year-over-year, and we replaced and upsized our revolving credit facility in July, all of which underscore continued optionality as we invest into the massive agentic TAM opportunity to serve and grow with our professional firms. On to the FQ4 results. As we narrated at our Investor Day in February, we are broadening our SaaS taxonomy to subscription, reflecting our intent to include revenues associated with both cloud and AI as these models scale within our portfolio. Subscription revenue was $115 million, up 27% year-over-year and surpassed 3 quarters of total revenue. Strong enterprise-driven cloud NRR cadence, AI incrementality, new 50,000-plus client wins and cloud conversions continue to drive subscription growth and mix shift. License revenue was $23.9 million, down 25% year-over-year, indicative of the ramping imperative with which clients are executing the consolidation of their Intapp footprint in the cloud. Migration decision time lines are shifting from intermediate deferral in a cloud preferred world to near-term action for an agentic-first future. As clients prepare for that transition, many are shortening on-prem contract durations to 1 year or less ahead of their cloud move. Together, these dynamics compress near-term license revenue while reinforcing the migration pipeline that underpins our subscription growth outlook. Professional services revenue totaled $13.6 million, up 5% year-over-year as we continue to leverage the scale of our services partner ecosystem for implementation support. Total revenue was $152.5 million, up 13% year-over-year. Our partner co-sell momentum continued this quarter with joint engagement on half of the 10 largest deals. Microsoft co-sell, in particular, strengthened as the year progressed, streamlining marquee deals across verticals via greater Azure Marketplace and MACC alignment. On the product side, we made progress delivering on our road map to extend the Celeste platform via partner integration with new data provider, MCPs. We are excited to have announced Moody's as the latest. And during our Celeste GA launch event, we signaled additional connector partnerships coming in the quarters ahead. Non-GAAP gross margin was 79.4%, up from 78% a year ago, driven by scale and cloud mix as well as improvement into positive professional services gross profit. This trajectory keeps us on track towards our FY '29 margin target. Non-GAAP operating expenses were $86.8 million compared to $84 million in the prior year period, driven by continued investment in go-to-market capacity and pipeline generation in support of the firm AI long-term opportunity. Non-GAAP operating income was $34.3 million, up from $21.3 million last year, reflecting leverage across cost of revenue and all of operating expense lines. Non-GAAP diluted EPS was $0.41 compared to $0.27 a year ago. Free cash flow was $45.9 million, up over 20% year-over-year, and we have ended FQ4 with $162.8 million in cash and cash equivalents. Cloud ARR grew 29% year-over-year to $495.7 million, and total ARR increased 22% to $590.5 million. Cloud ARR growth reflects continued strong expansion dynamics within a larger and more mature installed base with NRR sustained at 123% and migration activity at a record pace. Total remaining performance obligations were $833 million, up 16% year-over-year, with on-premise RPO presented a headwind to the overall growth rate, reflecting cloud migrations and implied EOL dynamics as described in the license revenue line. We grew our $1 million-plus ARR client base to 142 from 109 in the prior year, 30% year-over-year growth with corresponding ARR in that cohort growing 40% year-over-year. This is an increasingly important indicator of the depth of our enterprise penetration. Clients generating at least $100,000 in ARR reached 897, the fourth consecutive quarter of more than 100 net adds year-over-year. We exited the quarter with over 1,400 clients at 50,000-plus ARR. For the full fiscal year results, subscription revenue was $422.8 million, up 27% year-over-year, driven by our cloud land, expand and migration motions. License revenue was $103.4 million, down 14% year-over-year, substantially in line with our expectations communicated a year ago. This reflects deepening institutionalization of our cloud migration motion in tandem with limited multiyear on-prem renewals, particularly in the second half of the year. Professional services revenue was $51.6 million, approximately flat year-over-year and representing 9% of total revenue. The build-out of our Intapp certified services partner organization to over 1,000 strong is allowing greater opportunity for efficient co-delivery, partner-led implementations were up nearly 2x year-over-year. Total revenue was $577.8 million, up 15% year-over-year. Non-GAAP gross margin was 78.5% compared to 77.3% in the prior year. Non-GAAP operating income was $108.6 million, up from $75.6 million in the prior year, representing approximately 4 points of margin expansion. Non-GAAP EPS was $1.27, up from $0.94 in the prior year. Free cash flow was $144.7 million or 25% of total revenue, marking our entry into the FY '29 targeted range we outlined in February and reflecting the operating leverage embedded in our model. Share repurchases for the year totaled 8.4 million shares and diluted share count declined 8% year-over-year to 78 million shares. At the end of FQ4, approximately $75 million remained under our current repurchase authorization. Now turning to our guidance. Our FY '27 outlook is grounded in 3 compounding drivers: the continued velocity of cloud subscription growth, the step-up in Celeste monetization and general availability as it expands our addressable base well beyond the early adopter cohort and the ongoing operating leverage in our model. Firm AI adoption is still early, but the demand signal from firm leaders, the GA launch momentum and the pipeline we are entering the year, which gives us confidence in both the near-term guide and longer-term trajectory towards the $1 billion in ARR. For the first quarter of fiscal 2027, we expect subscription revenue between $123.7 million and $124.7 million, total revenue between $159.3 million and $160.3 million, non-GAAP operating income between $33.4 million and $34.4 million; non-GAAP EPS between $0.39 and $0.41 based on approximately 79 million diluted shares. For the full fiscal year 2027, we expect subscription revenue between $528.7 million and $532.7 million, total revenue between $656.5 million and $660.5 million, non-GAAP operating income between $134.7 million and $138.7 million, non-GAAP EPS between $1.58 and $1.62 based on approximately 81 million diluted shares. Thank you. And I'll now turn the call back to the operator. Operator: [Operator Instructions] Your first question comes from the line of Kevin McVeigh with UBS. Kevin McVeigh: Congratulations really on just terrific results and outlook for next year. I guess had a couple of interesting comments on the AI bookings doubling sequentially and then ultimately, some of the licensing sales slowing and as expected as people shift more to kind of cloud and things. But you're seeing a ton of leverage in the model, too. So maybe help us understand where some of that leverage is coming from to offset the lost license revenue and that AI bookings. Is that a result, John, the firm initiative as opposed to anything else? And just maybe help us understand that a little bit because it's obviously really nice to see. John Hall: Thanks, Kevin. I'll take the first one, Dave. David Morton: Go ahead. Sorry, John. John Hall: So first of all, we had Celeste, our agentic offering in limited availability for all of Q4. So we had some very good uptake even in limited availability. And we released it based on that experience into general availability, July 15. So that will start our new fiscal year '27 with that broadly available. Within that, there was tremendous response, particularly from senior people at the firms who really responded to the Firm AI strategy. So we had a lot of positive feedback from our clients and our prospects on what we're doing with Celeste and how we're positioning that. That's sort of the big message for Q4. And then Dave, do you want to talk about some of the numbers? David Morton: Yes, sure thing. And thanks, Kevin. Yes, I mean, we've worked really hard through the year, driving operational leverage facilitated vis-a-vis our successes on the top line. Clearly, our SaaS attribution continues to be first and foremost. We finally punched through 3 quarters of revenue being SaaS. And so that's quite a success factor. And where you're also seeing is the whole on-prem finally taken a foothold to cloud. So you're seeing a little uptick there. Obviously, our services, we got some margin accretion from what they provided in the past that offered some leverage and then just our continued performance below the line. G&A continues to be a great contributor of efficiency, and there's still more to be had. Our sales and marketing, we're driving our cost of acquisition down all through the rate of pace of our product innovation. And all that being said, contributed to our end of year results. So we're quite excited about how this leads into our FY '27 guide. Kevin McVeigh: That's super helpful. And then, John, I think in times past, you've talked about as you close out the year, some of the bigger accomplishments. Any thoughts just over the course of -- obviously, there's been a lot, but anything you want to call out to investors here? John Hall: Yes. Fiscal '26 was a big year for the company. The first is obviously the launch of Celeste and the establishment of the Firm AI strategy broadly. We have multiple offerings that feature our Celeste agentic technology now, so Celeste for the firm that we've been emphasizing, but also Celeste within our existing offerings. So DealCloud with Celeste, compliance with Celeste, Time with Celeste. It's an opportunity to bring the agentic experience across the entire firm's platform. So a huge achievement for the team to bring together years of AI work into this level of comprehensive value proposition for our client firms. We've had some very significant client wins. We've emphasized that 70% of our TAM, this $50 billion agentic TAM is in the top 2,000 accounts. And each quarter this year, we were able to make some meaningful new wins in the very largest of enterprise accounts. And then Dave shared with you the progress we made in the $1 million accounts in addition to the $100,000 accounts, which was a very significant acceleration. We're excited about what's happening there, plus what they're buying once they land, how they're growing as accounts. And then we made some very important talent moves. As the company grows and is able to serve these larger firms with this agentic value proposition, it's important that we continue to build out the team and the skills, both on the product side and the go-to-market side to support the growing engagement. And I've been thrilled with the talent that has come into the company over the past year and is setting us up for this commitment we have to $1 billion and more. Operator: Your next question comes from the line of Alexei Gogolev with JPMorgan. Isabella Camaj: This is Bella Camaj on for Alexei Gogolev. So on the 30-plus migrations that you signed in Q4, can you comment on the mix by vertical or product? And as you think about the portion of the remaining on-prem base, could you quantify what's remaining and what the main gating factors currently are? John Hall: Thanks, Bella. We haven't given specific splits of that historically, but we have said that the company began serving the legal industry. So in the time that we were doing an on-prem business, it was mostly in legal. So that's pretty clear. So most of what we're talking about when we talk about these cloud migrations are some of our earliest clients who have been with us for a long time and have grown with us. Now almost all of them have cloud also from us. So it's really a question of migrating their remaining on-prem applications into our cloud environment so that they can get access to Celeste and AI. And that's the core driver that is enabling a lot of them to make the project plan internally this year to move and to move quickly so they can get access to firm AI. It's a really great value proposition for them. Isabella Camaj: Got it. That makes sense. And as a quick follow-up, as you continue to scale agentic workflows, especially with Celeste being generally available to customers now, what did you see in 4Q around token usage and costs? And what controls are in place as you think about measurable cost containment and protecting margins? John Hall: Yes, this is obviously a topic that the whole industry is talking about. We have a lot built into Celeste that should help to manage this question. We're doing with our limited availability clients, a lot of study, where is the usage, what is the cost structure? How is that going from a token consumption standpoint. On the one hand, we want a lot of adoption, and we're excited to see it. On the other hand, we've done a lot in Celeste to actually manage the tokenomics of the workflow solutions in a way that I think the CIOs of the firms and the COOs of the firms are showing a lot of positive feedback about because we've incorporated all the firm's existing data in a way that we don't have to run every single query through every single external call to really drive token burns if that's the end goal. The end goal is to create the business outcome for the clients in a modern, agentic way and in a compliant way. And there's a lot in the architecture that has helped to address this. Celeste is also model agnostic. So as the world evolves and the folks who are delivering some of the foundational AI technology evolve and the competition evolves in that part of the industry, we are able to roll out agentic workflows in Celeste that allow people to choose the model or the provider that fits them, including from a cost perspective. So I think I'm very excited and impressed with the architecture that was put underneath Celeste with a lot of client input, by the way. A lot of what we did in building out Celeste was based directly on feedback from the CIOs in our marketplace who've worked with us for years and had enough trial experience with some of the systems that this started to become an issue and a question. And the way that Celeste has been designed is just brilliant. So I'm very excited about how this is going to go. Isabella Camaj: That's very helpful. Congrats on the quarter. Operator: Your next question comes from the line of Parker Lane with Stifel. J. Lane: John, clearly, a lot of adoption here in the early days of Celeste. I'm curious in the conversations that you're having with customers when you're talking about the ROI calculation of AI from both you and other providers out there, like where are they seeing the budget coming from? Are they primarily looking at this as an unlock of the existing headcount they have today as an opportunity to drive revenue? Just curious what feedback you're getting from those early adopters. John Hall: Thanks, Parker. There's a couple of sources. So, at one level, there is an IT budget that we've always called on that has shifted a lot of its priority towards AI spend. So that's available to us as it always has been. The second piece is a new AI budget that many of the firms are creating to make sure that they stay competitive and don't get left behind in this AI moment. So that can be anywhere from 1% to 2% of revenue that firms are putting in new just to make sure that they keep up with AI. And then the big third one is what you're pointing out here. For the first time with the agentic value proposition, the firms can move out of a pure technology budget and look at the traditional labor budgets. And one of the things that we've emphasized in the Firm AI story is how much of the firm's operating expenses spend have traditionally gone to business services functions or to time that the market-facing professionals are spending doing business services-related activities to manage their funds or their deals or their matters or their engagements. And just the hard spend on business services people can be 15%, 20%, 25% of the firm's spend. And then if you add the percentage of time, particularly that the senior people, most expensive people have to bear working to manage their relationships with the clients, pursuit of new clients, their business development activities, the compliance oversight responsibilities that they have for the business management, it's a very significant percentage of the firm's revenue overall. And that entire space is not what the practice AI tools historically have been rolled out over the past few years to address. This is a wide open space that has some very unique characteristics, not the least of which is the compliance requirements to work with all the information and the people there. And so the firm AI strategy is about unlocking the efficiency potential and the increased growth potential of the firm that comes if you're able to leverage their history in a compliant way to help them pursue new business with the most efficient agentic platform underneath them. It's just -- it really resonates with the managing partners, the managing directors, the heads of strategy or heads of operations of these firms. And so it's a really winning value proposition that people are responding to with Celeste. J. Lane: And maybe given how wide the opportunity is here, how is that changing the competitive set that you're facing today versus maybe 2, 3 years ago before agentic AI was a big topic? Are you seeing a lot more of these native players trying to get a piece of the pie or a relatively similar set of incumbents that are bringing their own functionality? Just curious when you do those evaluations around Celeste, who's coming to the show there? John Hall: So there are 3 categories that are selling into these firms now. One is the Horizontal AI group. One are the Practice AI tools. So those 2 are both desk-oriented tools for the individual. And there's a lot of opportunity and a lot of value in them to help the individuals at the desks become more productive. The third category is this Firm AI category that we've defined that addresses the business side of the firm distinctly. And there is some opportunity for us to have competition in that space from the horizontal players or the practice players or the traditional enterprise software players, of course. But if you actually talk to the senior people, as I mentioned in the quote from one of the Chairman of the firm that we mentioned in the script, they really see us as the people who understand the business side of the firm because we have provided all of the infrastructure and systems and data that they use to build the firm over these past 20 years, and we have a right to win there. So we're always paying attention to competition, but I think this Firm AI strategy is unique, and we have an ability to go win a significant portion of the firm's spend and upgrade the firm to a much better run firm using agentic technology with a Firm AI strategy. Operator: Your next question comes from the line of Saket Kalia with Barclays. Saket Kalia: John, I'd love to dig into Celeste a little bit more. And maybe just on that -- picking up on that great anecdote that you have in the script, which kind of speaks to the value that Celeste is providing. I guess maybe the question is, first of all, understanding that the tool just became generally available, so it's early. But what have you seen in terms of monetization? And whether that's added run rates to existing run rates? I mean, however you think about monetization, again, understanding that it's early, I'm curious what your early observations are? John Hall: Thanks, Saket. Yes, during the limited availability period, we had a chance to work with quite a few firms across the industries that we target, legal, accounting, consulting, investment banking, private capital. And one of the things that we saw was that the Celeste and Firm AI value proposition speaks to a more senior buyer. We put out a white paper that talks about this, but the leadership of the firms have not really been addressed by the more practice-oriented, desk-oriented tools that they've all felt compelled to roll out. And the Firm AI story does speak to them about how do we help your firm grow? How do we help you use agents to leverage your history of knowledge and experience and methods as a firm rather than as individuals. And this really resonates with them. We've done of all the product launches that we've done over the years, we've done some of the largest value lands with this product just in the limited availability period that we've ever seen. So I think we've really hit something here with something that the senior people and the firms are looking for and have the ability to allocate budget to bring in if they think it's going to help their firm to grow more successfully. So there's a lot of emphasis on efficiency in all the AI stories out there and the AI technologies certainly do a lot to help individuals become more efficient or even to help the organization be more efficient. But if you actually talk to the managing partners of these firms, their primary objective is to grow their business. And a lot of what we're doing with the firm AI strategy is focused on that. How do you leverage this new AI generation and the agentic technology opportunity to support your firm's ability to leverage its own knowledge to grow more successfully, whether that's through competing for market share or bringing in laterals or M&A successfully to scale the business and integrate it successfully. And so the monetization for that is a platform fee plus a usage fee, and we're watching the uptake move pretty quickly here. And so we're excited about what this represents for the next year or years. Saket Kalia: That's great. That's great. Very helpful. Dave, maybe for my follow-up for you. It's great to see the on-prem migrations accelerate this quarter. Maybe the question is, what type of multiplier are you seeing when those customers convert to SaaS, right? Just as we kind of think about how cloud ARR is growing maybe excluding those migrations? David Morton: Yes. It's consistent with what we've narrated in the past. It's been about 20% to 30%. With that said, what then quickly becomes available and where we're seeing even a precursor of is their whole dynamic in and around of then entering into a selling cycle for Celeste, which then would be even above and beyond. And so we're really excited about kind of the dynamics being presented, and that's where there's a rate of pace here that you're going to start seeing a little bit more acceleration over our previous durations that we've guided to in the past. Saket Kalia: And sorry, just to clarify there. When you say an acceleration, is that an acceleration in the rate of conversions that you're referring to? David Morton: Yes, yes. Operator: Your next question comes from the line of Terry Tillman with Truist. Connor Passarella: This is Connor Passarella on for Terry. Just to go a little bit further on the Firm AI opportunity. I think it's great to hear that you're appealing to senior leaders at these firms. Just curious on how you've evolved the go-to-market organization. Just has there been maybe a fundamental change on how the teams engage with these customers? Or has it kind of really reinforced the enterprise sales motion you've built over the last several years? John Hall: Thanks, Connor. We've done a couple of things. As we've discussed on prior calls, we had been evolving the go-to-market team with a greater emphasis on the enterprise firms. So the top 2,000 firms where 70% of our total opportunity is. We wanted to increase and densify the coverage of those firms. And you're seeing some of the outcomes of that in the growth in our $1 billion cohort, for example, and in the NRR because not only are those firms, the largest opportunities to land new accounts, but they are very significant opportunities to expand for a long time once we land them. So that's sort of the cornerstone of our go-to-market story. Obviously, the introduction of Firm AI and Celeste gives us an incredible value proposition to those enterprise firms. A lot of what we were doing in the limited availability period was working with some of those organizations at a business process and value proposition for senior management and business departmental leaders, but also the technical teams and the compliance and security teams because a lot of the Firm AI story is about leveraging the information that the firms already have so they can differentiate themselves with this Firm AI capability in their own competitive market much more effectively using agentic technology. And to do that, they must continue to comply with the requirements that are central to this highly regulated set of industries. So a lot of emphasis on multiple buyers in those enterprise firms with multiple constituencies, including compliance. And then yes, we've, in addition, made some incredible moves in the talent area, as I was mentioning earlier, we brought in some excellent go-to-market expertise that has a lot of history having much larger sales motions with some of these enterprise class accounts. And you see that in our team and in a lot of the deals that we're bringing in now and we'll continue to bring in. So development in several areas emphasize that motion. Connor Passarella: That's really helpful, John. Maybe just a follow-up. I wanted to double-click on the momentum with Microsoft and the co-sell motion there. Just as the partnership continues to mature, is Microsoft primarily helping you accelerate deals that are already in the pipe? Or are they actually increasing incremental demand by bringing Intapp into some of the enterprise AI conversations that they may be having a little bit earlier in that sales cycle? John Hall: It's certainly both. So our teams are doing very well, working together and co-selling together. We have a very close relationship with this set of industries. That's one of the cornerstones of our strategy, obviously. We've been working with these firms for a long time. So it's very common for us to be the first people who uncover opportunities for AI or Firm AI at the firms, and we have a great relationship with the Microsoft sales team and can bring them in at various stages in the process to help us. The MACC agreements that the firms have signed with Microsoft have been a huge help for us. And we really appreciate the relationship that we have with Microsoft in that regard because we can get bigger deals faster through that relationship. It is also the case that as we've won larger and larger deals, the Microsoft team is becoming more conscious of what we can do to help them deepen their Azure footprint and their AI footprint with these firms and help them leverage more of their Microsoft estate. And so we are getting inbounds from the Microsoft team that helps us grow our pipeline. So it goes both directions. Operator: Your next and final question comes from the line of Johnathan McCary with Raymond James. Johnathan McCary: This is Johnathan on for Alex. So John, I wanted to ask you on the organizations investing in AI now. Like one of the things we hear regularly throughout software is the technology is really ahead of where the customer base is in a lot of cases, and Intapp seems to be leading the way as it relates to the Firm AI approach. So I'm curious, what would you call out as the commonality behind the clients that you see that are really leaning in already? And has that changed how you think about the relative growth contribution from the different end markets? John Hall: Thanks, Johnathan. I think there's -- there are 2 buckets currently. There is a segment of the market that got out very early and experimented with every AI tool that came out. You'll go into some of these firms and they'll have 6 or 12 different pilots that they've run or are in the middle of. And those very sophisticated early adopter style organizations often led by IT, have developed a real feel for what the practical realities of deploying this AI generation set of technologies is going to be and what some of the challenges are getting it to work in a business context and a technical context inside the organization. So one of the things that the Celeste team has done an incredible job of is to show a true enterprise class compliance-aware architecture that helps these enterprise class firms who have experimented with all the start-up tools and all the Horizontal AI tools, see what the correct design for Firm AI is going to need to be. And we've won a lot of exciting competitive deals in the limited availability period that really prove the technical chops of the team and of the Celeste architecture. So that's really exciting because that gives us a lot of opportunity and confidence in our enterprise strategy because that's what we're going to encounter. That's what all the companies are going to encounter when they try to get their systems into the guts of the way that these enterprise class IT organizations work. So that's the technical crowd. And then the second group are the business leaders because many of these firms have created a Head of AI or Head of Innovation role that didn't exist 3 years ago. Often that person has the new AI budget at their command, and they're chartered with making sure that the firm at a business level is leveraging AI to create improved outcomes across the organization. And for that person who's really been focused because the offerings have been either the Horizontal AI tools or the start-ups who have practice-specific tools, for that person to hear the Firm AI strategy and to say, "Oh, there's this other half or more of my organization spend that I haven't even considered what the best opportunity is to deploy AI to accelerate and there's so much cost and so much growth opportunity for the firm if we can leverage that, this really speaks to me." So that's much more of a business story where Celeste is coming in with specific agents for specific workflows that address the business management and the growth opportunity for the firm. And we're running both of those sales motions in parallel. And obviously, they are 2 sides of the same coin. To sell in the enterprise, you have to be able to speak to both of those audiences. But that's been one of the most exciting things that's come out of the limited availability period is watching the team develop those repetitions to really introduce themselves, understand who the buyer is on the other side and then compete and win with the right positioning of this Firm AI story. And it gave us a lot of confidence as we were bringing out the general availability launch there in July. Operator: I will now turn the call back to John Hall, Chairman and CEO, for closing remarks. John Hall: Okay. Thank you all very much for spending time with us today. We have an incredible Q4 and fiscal '26 behind us. We appreciate very much your attention and your questions. We're excited about our continued momentum for fiscal year 2027. Thanks again for your time today, and we look forward to talking with you again next quarter. 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While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Intapp. The Motley Fool has a disclosure policy. Intapp (INTA) Q4 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Total Revenue: $152.5 million, up 13% year-over-year. Subscription Revenue: $115 million, up 27% year-over-year, surpassing three quarters of total revenue. License Revenue: $23.9 million, down 25% year-over-year. Professional Services Revenue: $13.6 million, up 5% year-over-year. Non-GAAP Gross Margin: 79.4%, up from 78% a year ago. Non-GAAP Operating Income: $34.3 million, up from $21.3 million last year. Non-GAAP Diluted EPS: $0.41, compared to $0.27 a year ago. Free Cash Flow: $45.9 million, up over 20% year-over-year. Cloud ARR: Grew 29% year-over-year to $495.7 million. Total ARR: Increased 22% to $590.5 million. Cloud Net Revenue Retention: Held steady at approximately 123%. Total Remaining Performance Obligations: $833 million, up 16% year-over-year. Cash and Cash Equivalents: $162.8 million at end of FQ4. Warning! GuruFocus has detected 4 Warning Sign with INTA. Is INTA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Intapp Inc (NASDAQ:INTA) delivered a strong Q4 with cloud ARR growing 29% year-over-year, marking 20 consecutive quarters of over 25% growth since its 2021 IPO. The company's Firm AI strategy, powered by Celeste, is gaining traction, with AI bookings doubling sequentially and representing over 20% of net new bookings in Q4. Cloud net revenue retention remained strong at 123%, and the company added a record number of cloud migrations (over 30) in Q4, driven by client urgency to adopt Celeste. Intapp Inc (NASDAQ:INTA) achieved significant financial milestones, including surpassing $100 million in net new ARR for the year and reaching a 25% free cash flow margin, entering its FY29 target range early. The company's partner ecosystem is expanding, with Microsoft co-selling on 8 of the top 10 deals and partner-led implementations nearly doubling year-over-year, enhancing deal velocity and market reach. License revenue declined 25% year-over-year in Q4, reflecting a faster-than-expected shift to cloud and shorter on-prem contract durations, which could pressure near-term revenue mix. Total revenue growth of 13% in Q4 was slower than subscription growth, indicating a drag from declining license and slower professional services growth. The company's on-premise RPO is a headwind to overall RPO growth, which grew only 16% year-over-year, potentially signaling a shrinking legacy base. Intapp Inc (NASDAQ:INTA) faces intense competition from horizontal AI tools and practice-specific AI startups, which could commoditize certain offerings and pressure pricing. The transition to Celeste and Firm AI requires significant investment in go-to-market and product development, as reflected in higher operating expenses, which could impact near-term profitability if adoption slows. Q: Can you help us understand where the operating leverage is coming from to offset the lost license revenue, and is the doubling of AI bookings a result of the Firm AI initiative?A: David Morton (CFO) explained that the operating leverage is driven by SaaS now representing over three-quarters of total revenue, on-prem clients migrating to cloud, improved professional services margins, and continued efficiency in G&A and sales & marketing. John Hall (CEO) added that Celeste was in limited availability during Q4, and the strong uptake, even in that phase, was driven by senior firm leaders responding to the Firm AI strategy, leading to the doubling of AI bookings to over 20% of net new bookings. Q: On the 30-plus migrations signed in Q4, can you comment on the mix by vertical or product, and what is the remaining on-prem base and its main gating factors?A: John Hall (CEO) noted that the on-prem business was historically mostly in legal, so most migrations are from early legal clients. The core driver is that clients need to migrate remaining on-prem applications to the cloud to access Celeste and Firm AI, which is creating urgency and enabling them to make internal project plans to move quickly. Q: As you scale agentic workflows with Celeste now generally available, what did you see in Q4 around token usage and costs, and what controls are in place to protect margins?A: John Hall (CEO) stated that Celeste's architecture is designed to manage tokenomics efficiently by leveraging the firm's existing data to avoid unnecessary external calls. Celeste is also model-agnostic, allowing clients to choose providers based on cost. The design was heavily influenced by direct feedback from CIOs, ensuring a compliant and cost-effective approach to agentic workflows. Q: In early Celeste adoption conversations, where are customers seeing the budget coming fromexisting headcount, revenue opportunities, or new AI budgets?A: John Hall (CEO) identified three sources: traditional IT budgets shifting priority to AI, new AI-specific budgets (1-2% of revenue) created by firms to stay competitive, and, most significantly, traditional labor budgets. The Firm AI strategy addresses the 15-25% of firm spend on business services and the time senior professionals spend on business management, which practice AI tools have not addressed. This resonates with managing partners focused on growth. Q: Given the wide opportunity, how is the competitive set changing versus 2-3 years ago, and who are you seeing in Celeste evaluations?A: John Hall (CEO) categorized competitors into horizontal AI groups and practice AI tools, both desk-oriented. The third category, Firm AI, is unique to Intapp. While horizontal and practice players could compete, senior firm leaders see Intapp as the only provider that understands the business side of the firm, given its 20-year history of providing the infrastructure and data. This gives Intapp a distinct right to win in this space. Q: What have you seen in terms of Celeste monetization, whether added run rates or new deals, given it just became generally available?A: John Hall (CEO) reported that during limited availability, Celeste achieved some of the largest-value lands in the company's history. The monetization model is a platform fee plus a usage fee. The value proposition speaks to senior buyers focused on firm growth, not just efficiency, which is driving rapid uptake and excitement for the coming years. Q: What type of multiplier are you seeing when on-prem customers convert to SaaS, and is there an acceleration in conversion rates?A: David Morton (CFO) confirmed the multiplier is consistent with past guidance of 20-30%. However, the acceleration is in the rate of conversions, as clients are now moving faster to the cloud to access Celeste. This dynamic is expected to lead to even greater acceleration in the future as migrating clients quickly enter the selling cycle for Celeste. Q: How has the go-to-market organization evolved to engage with customers on Firm AI and Celeste, and has it changed the enterprise sales motion?A: John Hall (CEO) explained that the go-to-market team has evolved to densify coverage of the top 2,000 enterprise firms, where 70% of the opportunity lies. The Firm AI story requires engaging multiple buyers, including senior management, technical teams, and compliance. The company has also brought in experienced go-to-market talent with a history of managing larger enterprise-class sales motions, which is reflected in the growth of the $1 million-plus ARR client cohort. Q: Is Microsoft primarily helping accelerate deals already in the pipe, or are they bringing Intapp into earlier enterprise AI conversations to increase incremental demand?A: John Hall (CEO) stated it is both. Intapp often uncovers Firm AI opportunities first, and Microsoft's MAC agreements help close larger deals faster. Conversely, as Intapp wins larger deals, Microsoft is becoming more aware of how Intapp can deepen Azure and AI footprints, leading to inbound referrals that grow Intapp's pipeline. The relationship is mutually beneficial and goes both directions. Q: What is the commonality behind clients leaning into Firm AI, and has it changed how you think about growth contribution from different end markets?A: John Hall (CEO) identified two buckets: technically sophisticated early adopters who have experimented with various AI tools and appreciate Celeste's enterprise-class, compliance-aware architecture, and business leaders (often heads of AI) who are chartered with leveraging AI for business outcomes. The latter group is drawn to the Firm AI strategy because it addresses the untapped half of organizational spend on business services. Both sales motions are running in parallel, and the team's ability to speak to both audiences has been a key success factor. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Defined 'Firm AI' as a distinct category focused on the business operations of professional firms rather than individual desk-level productivity, addressing a $50 billion market opportunity. Launched Celeste into General Availability to provide agentic workflows that leverage 25 years of firm-specific data, institutional judgment, and compliance infrastructure that generic AI cannot replicate. Observed that while generic AI commoditizes work and lowers gross margins, Firm AI drives growth and operating margin by optimizing go-to-market efficiency and operational overhead. Achieved a record quarter for cloud migrations as firms prioritize the cloud foundation necessary to access Celeste's agentic capabilities, resulting in 95% of clients now being cloud-based. Strengthened the enterprise-led growth motion, with clients generating over $1 million in ARR growing 30% year-over-year, reflecting deeper penetration into the top 2,000 target accounts. Leveraged a growing partner ecosystem where co-sell bookings grew 35% year-over-year, with Microsoft participating in 8 of the top 10 deals for the fiscal year. Expanded the platform's data layer through strategic partnerships, such as integrating Moody's credit risk and ownership data directly into Celeste workflows. Guidance for fiscal 2027 assumes continued velocity in cloud subscription growth and a significant step-up in Celeste monetization following its July 15 general availability. Management expects the migration pipeline to remain robust as clients shorten on-premise contract durations to 1 year or less in anticipation of moving to an agentic-first cloud future. Strategic focus remains on the 'path to $1 billion' in ARR, supported by the expansion of the addressable base beyond early adopters to the broader enterprise market. Operating leverage is expected to continue building toward fiscal 2029 targets, driven by G&A efficiencies and lower customer acquisition costs resulting from product innovation. Capital allocation strategy includes remaining active in share repurchases, with approximately $75 million remaining under the current authorization entering fiscal 2027. On-premise ARR has declined to sub-$100 million, now representing a smaller portion of the business than total net new ARR added during the year. License revenue experienced a 25% year-over-year decline in Q4, which management characterized as a positive indicator of accelerating cloud migration urgency. Total RPO growth of 16% was partially dampened by the intentional wind-down of on-premise contracts and implied end-of-life dynamics for legacy software. The company replaced and upsized its revolving credit facility in July to maintain financial optionality for investing in the agentic AI market opportunity. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management identified three budget pools: traditional IT budgets shifting to AI, new dedicated AI innovation budgets (1-2% of revenue), and traditional labor budgets for business services. The 'Firm AI' value proposition allows firms to reallocate spend from manual business service functions, which can represent 15-25% of total firm expenditure. Celeste is designed to be model-agnostic, allowing firms to choose providers based on cost-effectiveness and performance requirements. The architecture minimizes external AI calls by grounding agents in the firm's existing internal data, helping to manage 'tokenomics' and maintain margins. Migrations typically yield a 20% to 30% revenue uplift initially, but management noted this serves as a precursor to additional Celeste upsells. The rate of pace for these conversions is expected to accelerate as firms view cloud migration as a prerequisite for AI adoption. Management distinguishes Intapp from 'Horizontal AI' (generic tools) and 'Practice AI' (desk-level tools), claiming a unique moat in 'Firm AI' due to compliance and data integration. The 'Firm AI' strategy targets senior business leaders and managing partners who are focused on firm-wide growth rather than just individual productivity.

Interested in Intapp, Inc.? Here are five stocks we like better. Q4 revenue rose 13% to $152.5 million, led by 27% subscription growth to $115 million, while license revenue declined as customers shortened on-premise contracts ahead of cloud migrations. Non-GAAP EPS increased to $0.41, and free cash flow grew more than 20% to $45.9 million. Cloud ARR increased 29% to $495.7 million, representing 84% of total ARR, while net revenue retention reached approximately 123%. Intapp signed more than 30 cloud migrations, and AI products accounted for over 20% of fourth-quarter net new bookings. Intapp launched its Celeste AI platform broadly on July 15 and expects it to support fiscal 2027 growth alongside cloud adoption. The company forecast fiscal 2027 revenue of $656.5 million to $660.5 million and non-GAAP EPS of $1.58 to $1.62. Newly Public Intapp Well-Positioned For More Price Gains Intapp (NASDAQ:INTA) reported fiscal fourth-quarter revenue growth of 13% and said demand for its cloud products and new artificial intelligence offerings helped close out what management described as a defining fiscal 2026. Total fourth-quarter revenue rose to $152.5 million, while subscription revenue increased 27% year over year to $115 million and exceeded three-quarters of total revenue. License revenue declined 25% to $23.9 million, which Chief Financial Officer David Morton attributed to customers shortening on-premise contract durations as they prepare to migrate to the cloud. Professional services revenue grew 5% to $13.6 million. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control 3 Small Financial Software Makers Showing Strong Chart Action “Q4 was another strong quarter, closing out a defining year for Intapp,” Chairman and CEO John Hall said. Hall said the company moved its Firm AI strategy “from thesis to category” during the year through the launch of Celeste, its AI platform for highly regulated professional and financial-services firms. Cloud annual recurring revenue increased 29% year over year to $495.7 million in the fourth quarter, while total ARR rose 22% to $590.5 million. Cloud ARR represented 84% of total ARR. Intapp said it has now recorded 20 consecutive quarters of cloud ARR growth above 25% since its 2021 initial public offering. → Financials Hit Record Highs as the AI Trade Unravels—Can They Keep Leading? Cloud net revenue retention was approximately 123%, and the company ended the quarter with more than 1,400 customers generating at least $50,000 in ARR. Its base of customers generating more than $1 million in ARR grew to 142 from 109 a year earlier, with ARR from that group rising 40%. Non-GAAP operating income increased to $34.3 million from $21.3 million a year earlier. Non-GAAP diluted earnings per share rose to $0.41 from $0.27. Free cash flow was $45.9 million, up more than 20% year over year, and Intapp ended the quarter with $162.8 million in cash and cash equivalents. → Why Rare Earth Processing Could Be the Real 2027 Opportunity For the full fiscal year, total revenue increased 15% to $577.8 million. Subscription revenue grew 27% to $422.8 million, while license revenue fell 14% to $103.4 million. Full-year non-GAAP operating income rose to $108.6 million from $75.6 million, and free cash flow reached $144.7 million, or 25% of revenue. Morton said Intapp’s results reflected a business increasingly aligned with the AI opportunity, citing cloud conversion activity, sustained cloud retention and accelerating AI bookings. AI represented more than 20% of net new bookings in the fourth quarter after doubling sequentially, according to the company. Intapp launched Celeste in limited availability during the fourth quarter and made it generally available on July 15, after the quarter ended. Hall characterized Celeste as part of a broader “Firm AI” category intended to help firms use their own data, workflows and compliance systems to support business operations. Hall said the company’s advantage is based on 25 years of firm-specific data, workflows and compliance infrastructure. He said Celeste is designed to support processes such as deal screening, conflicts clearance, intake and time capture while operating within firms’ compliance requirements. The company cited several customer deployments and wins, including BakerHostetler’s adoption of Celeste for intake and lateral integration; Alvarez & Marsal’s planned move to DealCloud with Celeste; and Hg’s use of Celeste in its front-office investment process. Intapp also said Eversheds Sutherland added Celeste functionality to its time product. Hall said the company’s monetization model for Celeste includes a platform fee and a usage fee. During the question-and-answer session, he said the limited-availability period produced some of the largest initial customer deployments the company has seen for a product launch, though he did not provide specific deal values. Management said Celeste is intended to address both technical and business buyers. Hall noted that firms are funding AI through existing IT budgets, newly established AI budgets and, increasingly, budgets connected to business-services labor and operational activities. Cloud migrations accelerated in the quarter, with Intapp signing more than 30 migrations, its highest quarterly total. Morton said 95% of clients now have Intapp in the cloud, while the remaining on-premise ARR base has fallen below $100 million. Hall said the remaining migration opportunity is concentrated primarily among long-standing legal customers that already use some cloud products but retain on-premise applications. Access to Celeste and AI capabilities is encouraging these customers to move more quickly, he said. Morton said cloud migrations have historically produced an ARR uplift of about 20% to 30%. He added that customers completing cloud transitions may then enter separate sales cycles for Celeste. Partner activity also increased. Co-sell partners influenced roughly one-third of new-logo wins during the year, and co-sell bookings grew about 35% year over year. Microsoft was a co-sell partner on eight of Intapp’s 10 largest deals during fiscal 2026, according to Hall. Partner-led projects nearly doubled, while partner certifications rose 29%. After the quarter closed, Intapp expanded its relationship with Moody’s to integrate credit-risk, entity-screening and ownership data into Celeste. Management said the partnership is intended to bring counterparty intelligence into workflows for deal and risk teams. For the first quarter of fiscal 2027, Intapp forecast subscription revenue of $123.7 million to $124.7 million and total revenue of $159.3 million to $160.3 million. The company expects non-GAAP operating income of $33.4 million to $34.4 million and non-GAAP EPS of $0.39 to $0.41. For the full fiscal year, Intapp projected subscription revenue of $528.7 million to $532.7 million and total revenue of $656.5 million to $660.5 million. It forecast non-GAAP operating income of $134.7 million to $138.7 million and non-GAAP EPS of $1.58 to $1.62. Morton said the outlook is based on continuing cloud subscription growth, expanding Celeste monetization following general availability and operating leverage in the company’s model. Intapp repurchased 8.4 million shares during fiscal 2026 and had about $75 million remaining under its current repurchase authorization at the end of the fourth quarter. Intapp, Inc, headquartered in Palo Alto, California, is a leading provider of cloud-based software solutions designed to meet the unique needs of professional services firms, including law firms, accounting practices, and financial institutions. The company's integrated platform connects front-office business development with back-office risk and compliance functions, enabling organizations to streamline workflows, improve collaboration and enhance client service. Intapp's suite of applications—such as Intake, Conflicts, Risk, Open, Time and Flow—addresses the entire client lifecycle. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Intapp Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Fourth quarter SaaS revenue of $115.0 million, up 27% year-over-year Cloud annual recurring revenue ("ARR") of $495.7 million, up 29% year-over-year Trailing twelve months’ cloud net revenue retention rate as of June 30, 2026 was 123% PALO ALTO, Calif., August 04, 2026--(BUSINESS WIRE)--Intapp, Inc. (NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, announced financial results for its fiscal fourth quarter and fiscal year ended June 30, 2026. Intapp also provided its outlook for the first quarter and the full fiscal year 2027. "We are pleased to report strong fourth quarter results," said John Hall, CEO of Intapp. "We had an exceptional year advancing our Firm AI strategy, agentic capabilities with Celeste, and unique competitive position for highly regulated firms, providing a strong foundation for continued execution as we enter into our new fiscal year." Fourth Quarter of Fiscal Year 2026 Financial Highlights SaaS revenue was $115.0 million, a 27% year-over-year increase compared to the fourth quarter of fiscal year 2025. Total revenue was $152.5 million, a 13% year-over-year increase compared to the fourth quarter of fiscal year 2025. Cloud ARR was $495.7 million as of June 30, 2026, a 29% year-over-year increase compared to Cloud ARR as of June 30, 2025. Cloud ARR represented 84% of total ARR as of June 30, 2026, compared to 79% as of June 30, 2025. Total ARR was $590.5 million as of June 30, 2026, a 22% year-over-year increase compared to total ARR as of June 30, 2025. GAAP operating loss was $(4.2) million, compared to a GAAP operating loss of $(4.2) million in the fourth quarter of fiscal year 2025. Non-GAAP operating income was $34.3 million, compared to a non-GAAP operating income of $21.3 million in the fourth quarter of fiscal year 2025. GAAP net loss was $(5.5) million, compared to a GAAP net loss of $(0.5) million in the fourth quarter of fiscal year 2025. Non-GAAP net income was $31.7 million, compared to a non-GAAP net income of $23.0 million in the fourth quarter of fiscal year 2025. GAAP net loss per share was $(0.07), compared to a GAAP net loss per share of $(0.01) in the fourth quarter of fiscal year 2025. Non-GAAP diluted net income per share was $0.41, compared to a non-GAAP diluted net income per share of $0.27 in the fourth quarter of fiscal year 2025. Fiscal Year 2026 Financial Highlights SaaS revenue was $422.8 million, a 27% year-over-year increase compared to fiscal year 2025. Total revenue was $577.8 million, a 15% year-over-year increase compared to fiscal year 2025. GAAP operating loss was $(40.1) million, compared to a GAAP operating loss of $(27.4) million in fiscal year 2025. Non-GAAP operating income was $108.6 million, compared to a non-GAAP operating income of $75.6 million in fiscal year 2025. GAAP net loss was $(41.3) million, compared to a GAAP net loss of $(18.2) million in fiscal year 2025. Non-GAAP net income was $103.6 million, compared to a non-GAAP net income of $78.9 million in fiscal year 2025. GAAP net loss per share was $(0.52), compared to a GAAP net loss per share of $(0.23) in fiscal year 2025. Non-GAAP diluted net income per share was $1.27, compared to a non-GAAP diluted net income per share of $0.94 in fiscal year 2025. Cash and cash equivalents were $162.8 million as of June 30, 2026, compared to $313.1 million as of June 30, 2025. For the fiscal year ended June 30, 2026, net cash provided by operating activities was $146.8 million, compared to net cash provided by operating activities of $123.5 million for the fiscal year ended June 30, 2025. For the fiscal year ended June 30, 2026, we repurchased 8.4 million shares of our common stock for an aggregate amount of $275.2 million, including broker fees. Business Highlights As of June 30, 2026, we served more than 1,400 clients with contracts greater than $50,000 of ARR, including 897 clients with contracts greater than $100,000 of ARR. In addition, at fiscal year ended June 30, 2026, we had 142 clients with more than $1.0 million of ARR, up from 109 such clients at the prior fiscal year end. We upsold and cross-sold our existing clients such that our trailing twelve months’ cloud net revenue retention rate as of June 30, 2026 was 123%. We announced the availability of Intapp Celeste, our agentic coworker for professional firms, advancing our Firm AI strategy by encoding firms' methods into agents, putting their proprietary data to work, while respecting the professional compliance requirements their clients and regulators expect. We continued to add new clients and expand existing accounts, including Am Law 100 firm BakerHostetler, advisory firm Grant Thornton UK, and software-focused private equity firm Hg. We continued to develop our partner ecosystem, co-selling with Microsoft on eight of our 10 largest deals in the fiscal year, and expanding our partnership with Moody's to bring credit risk, entity screening, and ownership data into Intapp Celeste. Subscription revenue, also referred to as SaaS revenue on the condensed consolidated statements of operations for fiscal years 2026 and 2025. The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to the "Forward-Looking Statements" safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. The information presented in this press release includes non-GAAP financial measures such as "non-GAAP operating income," "non-GAAP net income," and "non-GAAP diluted net income per share." Refer to "Non-GAAP Financial Measures and Other Metrics" for a discussion of these measures and the financial tables below for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure. The guidance regarding non-GAAP operating income excludes known pre-tax charges related to estimated stock-based compensation of $35.0 million for the first quarter of fiscal year 2027 and $138.4 million for fiscal year 2027 and amortization of intangible assets of $1.9 million for the first quarter of fiscal year 2027 and $7.4 million for fiscal year 2027. The guidance regarding non-GAAP diluted net income per share excludes known pre-tax charges related to estimated stock-based compensation of $0.44 per share for the first quarter of fiscal year 2027 and $1.71 per share for fiscal year 2027 and amortization of intangible assets of $0.02 per share for the first quarter of fiscal year 2027 and $0.09 per share for fiscal year 2027. The Company has not included a quantitative reconciliation of its guidance for non-GAAP operating income and non-GAAP diluted net income per share to their most directly comparable GAAP financial measures, other than stock-based compensation and amortization of intangible assets, because certain of these reconciling items, including expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and income tax effect of non-GAAP adjustments, could be highly variable and cannot be reasonably predicted without unreasonable effort. This is due to the inherent difficulty of forecasting the timing of certain events that have not yet occurred and are out of the Company’s control and the amounts of associated reconciling items. Please note that the unavailable reconciling items could significantly impact the Company’s GAAP operating results. Corporate Presentation A supplemental financial presentation and other information will be accessible through Intapp’s investor relations website at https://investors.intapp.com/. Webcast Intapp will host a conference call for analysts and investors on Tuesday, August 4, 2026, beginning at 2:00 p.m. PT (5:00 p.m. ET). The call will be webcast live via the "Investors" section of the Intapp company website at https://investors.intapp.com/. A replay of the call will be available through the Intapp website for 90 days. About Intapp Intapp is the governed AI platform for professional firms in highly regulated industries. Intapp’s vertically tailored agentic solutions are built for the specialized workflows, complex relationship networks, and professional compliance requirements of accounting, consulting, investment banking, law, private capital, and real assets firms. By applying Firm AI to core processes and data, Intapp helps partners, dealmakers, and advisors drive firm growth, manage compliance, and improve profitability. Forward-Looking Statements This press release contains express and implied "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the first quarter and full fiscal year 2027, growth strategy, business plans and market position. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "confident," "would," "should," "could," "can," "predict," "potential," "target," "explore," "continue," "expand," "outlook" or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including: our ability to continue our growth at or near historical rates; our future financial performance and ability to be profitable; the effect of global events on the U.S. and global economies, our business, our employees, our results of operations, our financial condition, demand for our products, sales and implementation cycles, and the health of our clients’ and partners’ businesses; our ability to compete in highly competitive markets, including AI products; our ability to manage the implementation of AI into our products and services and to comply with U.S. and global laws and regulations regarding AI; our ability to prevent and respond to data breaches, unauthorized access to client data or other disruptions of our solutions; our ability to effectively manage U.S. and global market and economic conditions, including inflationary pressures, economic and market downturns and volatility in the financial services industry, particularly adverse to our targeted industries; the effect on our clients of the imposition of additional tariffs, duties, or taxes, changes to existing trade agreements, and other charges or barriers to trade and any resulting impact to global stock markets, foreign currency exchange rates, and existing inflationary pressures; the length and variability of our sales cycle; our ability to attract and retain clients; our ability to attract and retain talent; our ability to manage additional complexity, burdens, and volatility in connection with our international sales and operations; the successful assimilation or integration of the businesses, technologies, services, products, personnel or operations of acquired companies; our ability to incur indebtedness in the future and the effect of conditions in credit markets; the sufficiency of our cash and cash equivalents to meet our liquidity needs; and our ability to maintain, protect, and enhance our intellectual property rights. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law. Non-GAAP Financial Measures and Other Metrics This press release contains the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted net income per share. These non-GAAP measures exclude the impact of stock-based compensation, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Stock-based compensation includes the net effects of capitalization and amortization of stock-based compensation related to capitalized internal-use software costs. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. Free cash flow is a non-GAAP financial measure, and a supplemental liquidity measure that management uses to evaluate our core operating business and our ability to meet our current and future financing and investing needs. It consists of net cash provided by operating activities less cash paid for purchases of property and equipment. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure. Other metrics include total ARR, Cloud ARR and Cloud net revenue retention rate. Total ARR represents the annualized recurring value of all active SaaS and on-premise license contracts at the end of a reporting period. Cloud ARR is the portion of the annualized recurring value of our active SaaS contracts at the end of a reporting period. Contracts with a term other than one year are annualized by taking the committed contract value for the current period divided by number of days in that period, then multiplying by 365. Cloud net revenue retention rate is the portion of our net revenue retention rate, which represents the net revenue retention of our SaaS contracts. We calculate Cloud net revenue retention by starting with the Cloud ARR from the cohort of all clients as of the twelve months prior to the applicable fiscal period, or prior period Cloud ARR. We then calculate the Cloud ARR from these same clients as of the current fiscal period, or current period Cloud ARR. We then divide the current period Cloud ARR by the prior period Cloud ARR to calculate the Cloud net revenue retention. We believe these non-GAAP financial measures and metrics provide useful information to investors as they are used by management to manage the business, make planning decisions, evaluate our performance, and allocate resources and provide useful information regarding certain financial and business trends relating to our financial condition and results of operations. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Guidance for non-GAAP financial measures excludes stock-based compensation expense, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Non-GAAP diluted net income per share is calculated by dividing non-GAAP net income by the estimated diluted weighted average shares outstanding for the period. INTAPP, INC.RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES(Unaudited, in thousands, except per share data and percentages) The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP financial measures for the periods indicated below: View source version on businesswire.com: https://www.businesswire.com/news/home/20260804758750/en/ Contacts Investor Contact David TroneSenior Vice President, Investor RelationsIntapp, [email protected] Media Contact Emily MartinezGlobal Media and Communications DirectorIntapp, [email protected]

Intapp (INTA) reported $152.53 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 13%. EPS of $0.41 for the same period compares to $0.27 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $149.8 million, representing a surprise of +1.83%. The company delivered an EPS surprise of +13.89%, with the consensus EPS estimate being $0.36. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Intapp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Cloud annual recurring revenue (Cloud ARR): $495.7 million compared to the $482.31 million average estimate based on three analysts. Total ARR: $590.5 million versus $577.95 million estimated by three analysts on average. Revenues- SaaS: $114.95 million compared to the $113.75 million average estimate based on five analysts. The reported number represents a change of +27.5% year over year. Revenues- Professional Services: $13.65 million compared to the $13.18 million average estimate based on five analysts. The reported number represents a change of +4.8% year over year. Revenues- License: $23.93 million versus the five-analyst average estimate of $22.86 million. The reported number represents a year-over-year change of -24.8%. Gross Profit- SaaS: $95.67 million versus the three-analyst average estimate of $96.17 million. Gross Profit- License: $22.49 million versus the three-analyst average estimate of $21.53 million. Gross Profit- Professional services: $0.21 million versus the two-analyst average estimate of $-2.65 million. View all Key Company Metrics for Intapp here>>> Shares of Intapp have returned +21% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intapp, Inc. (INTA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Intapp (INTA) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +13.89%. A quarter ago, it was expected that this software developer would post earnings of $0.28 per share when it actually produced earnings of $0.29, delivering a surprise of +3.57%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Intapp, which belongs to the Zacks Internet - Software industry, posted revenues of $152.53 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.83%. This compares to year-ago revenues of $135.04 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Intapp shares have lost about 27.1% since the beginning of the year versus the S&P 500's gain of 11%. While Intapp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Intapp was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $157.66 million in revenues for the coming quarter and $1.58 on $656.81 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the bottom 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Riskified (RSKD), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 12. This provider of fraud-prevention services is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +50%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Riskified's revenues are expected to be $88 million, up 8.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intapp, Inc. (INTA) : Free Stock Analysis Report Riskified Ltd. (RSKD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Last week saw the newest quarterly earnings release from Intapp, Inc. (NASDAQ:INTA), an important milestone in the company's journey to build a stronger business. Revenues were in line with expectations, at US$146m, while statutory losses ballooned to US$0.20 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Taking into account the latest results, the consensus forecast from Intapp's eight analysts is for revenues of US$656.3m in 2027. This reflects a solid 17% improvement in revenue compared to the last 12 months. Earnings are expected to improve, with Intapp forecast to report a statutory profit of US$0.23 per share. In the lead-up to this report, the analysts had been modelling revenues of US$651.4m and earnings per share (EPS) of US$0.14 in 2027. There was no real change to the revenue estimates, but the analysts do seem more bullish on earnings, given the very substantial lift in earnings per share expectations following these results. View our latest analysis for Intapp The consensus price target was unchanged at US$34.57, implying that the improved earnings outlook is not expected to have a long term impact on value creation for shareholders. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values Intapp at US$47.00 per share, while the most bearish prices it at US$25.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Intapp's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Intapp's revenue growth will slow down substantially, with revenues to the end of 2027 expected to display 13% growth on an annualised basis. This is compared to a historical growth rate of 20% over the past five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 17% per year. Factoring in the forecast slowdown in growth, it seems obvious that Intapp is also expected to grow slower than other industry participants. The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around Intapp's earnings potential next year. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that Intapp's revenue is expected to perform worse than the wider industry. The consensus price target held steady at US$34.57, with the latest estimates not enough to have an impact on their price targets. Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Intapp going out to 2028, and you can see them free on our platform here. We also provide an overview of the Intapp Board and CEO remuneration and length of tenure at the company, and whether insiders have been buying the stock, here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.