Intapp, Inc. (INTA) Q2 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call summary reflects a positive sentiment with strong financial performance and optimistic guidance. The Q&A section reveals strategic partnerships and AI adoption as growth drivers, despite some concerns over guidance clarity. The market cap suggests moderate reaction, leading to a predicted stock price increase of 2% to 8% over the next two weeks.
Key Financial Performance
Cloud ARR $434 million, up 31% year-over-year. Growth driven by enterprise clients deepening their relationship with Intapp, stronger co-sell activity, and growing adoption of applied AI offerings.
Total ARR $535 million, with Cloud representing 81% of total ARR.
SaaS Revenue $102.5 million, up 28% year-over-year. Reflects strong demand and a continued shift to cloud offerings.
Total Revenue $140.2 million, up 16% year-over-year. Driven by strong growth in cloud solutions.
License Revenue $25.4 million, down 9% year-over-year. Decline consistent with stated strategy and ongoing cloud migration efforts.
Professional Services Revenue $12.3 million, down 7% year-over-year. Decline attributed to partner ecosystem supporting cloud growth through co-sell execution and efficient implementations.
Non-GAAP Gross Margin 78.1%, up from 76.7% a year ago. Improvement driven by favorable mix and cloud efficiency gains.
Non-GAAP Operating Income $27.7 million, up from $18.9 million last year. Reflects disciplined execution and margin expansion.
Non-GAAP Diluted EPS $0.33. Reflects strong financial performance.
Free Cash Flow $22.2 million for the quarter. Reflects strong cash generation.
Cash and Cash Equivalents $191.2 million at the end of Q2. Reflects $100 million share repurchase.
Remaining Performance Obligations (RPO) $777.1 million, up 26% year-over-year. Provides strong revenue visibility.
Clients Generating $100,000+ ARR 834 clients, up from 728 a year ago. Represents 30% of total client base.
You have reached the limit. Sign up to access full content
Get started
Operating Highlights
Intapp Time: New release with AI features for faster, easier, and more accurate timekeeping. Catalyzed cloud migrations and attracted new clients like Seyfarth Shaw and Burr & Forman.
DealCloud platform: Added over 70 new AI capabilities to enhance productivity, compliance, and actionable insights. Attracted clients like Meridian Capital and Neuberger Berman.
Legal vertical: Gained traction with Am Law 100 firms for AI-powered compliance solutions. Examples include Ropes & Gray and an Am Law 30 firm.
Accounting industry: Firms modernizing compliance and collaboration practices. Examples include a top U.S. public accounting firm and U.K.'s BKL.
Financial services: Firms replacing legacy CRMs with DealCloud for AI-powered relationship management. Examples include a boutique investment bank and Meridian Capital.
Cloud ARR: Grew to $434 million, up 31% year-over-year, representing 81% of total ARR.
SaaS revenue: Increased to $102 million, up 28% year-over-year.
Gross margin: Improved to 78.1%, driven by cloud efficiency gains.
Partner ecosystem: Expanded with over 145 partners, including Microsoft. Partners influenced 7 of the 10 largest deals in Q2.
Share repurchase program: Completed $150 million repurchase and authorized an additional $200 million program.
You have reached the limit. Sign up to access full content
Get started
Risk or Challenges
Regulatory Compliance: Evolving anti-money laundering (AML) and know-your-client (KYC) regulations are driving the need for modernization of intake and conflict processes globally. This creates challenges for firms to stay compliant and adapt to changing regulatory landscapes.
Competitive Pressures: The influx of private equity investments and mergers in the accounting industry has increased competition, pushing firms to modernize compliance practices and extend modernization to collaboration and business development.
Cloud Migration Challenges: The ongoing transition to cloud-based solutions, while beneficial, involves complexities such as migrating large firms' systems to the cloud and ensuring seamless integration with existing tools.
Economic Uncertainties: Economic uncertainties and disruptions in the financial services and real estate sectors may impact client investments in modernization and AI-driven solutions.
Strategic Execution Risks: The company is investing heavily in AI and cloud adoption, which requires precise execution to ensure ROI and maintain client satisfaction. Missteps in these areas could adversely affect growth.
Partner Ecosystem Dependencies: The company relies heavily on its partner ecosystem, including Microsoft, for co-selling and deal acceleration. Any disruption in these partnerships could impact revenue growth.
You have reached the limit. Sign up to access full content
Get started
Guidance & Outlook
Q3 Fiscal 2026 SaaS Revenue: Expected between $105 million and $106 million.
Q3 Fiscal 2026 Total Revenue: Expected between $143.8 million and $144.8 million.
Q3 Fiscal 2026 Non-GAAP Operating Income: Expected between $23.1 million and $24.1 million.
Q3 Fiscal 2026 Non-GAAP EPS: Expected between $0.27 and $0.29 based on approximately 83 million diluted shares.
Full Fiscal Year 2026 SaaS Revenue: Expected between $415 million and $419 million.
Full Fiscal Year 2026 Total Revenue: Expected between $570.3 million and $574.3 million.
Full Fiscal Year 2026 Non-GAAP Operating Income: Expected between $99.9 million and $103.9 million.
Full Fiscal Year 2026 Non-GAAP EPS: Expected between $1.20 and $1.24 based on approximately 83 million diluted shares.
You have reached the limit. Sign up to access full content
Get started
Shareholder Return Plan
Share Repurchase Program: In August 2025, the Board authorized a $150 million share repurchase program. During the second quarter, $100 million or approximately 2.3 million shares were repurchased. Combined with the first quarter activity, the authorization was fully utilized, resulting in approximately 3.4 million shares repurchased. In January 2026, the Board authorized an additional $200 million share repurchase program, reflecting confidence in the long-term value of the business.
You have reached the limit. Sign up to access full content
Get started
Key Q&A
Q:How is Intapp positioning itself in light of the news from Anthropic?
A:Intapp is not directly involved in the contract review space, which is the focus of Anthropic's new open-source plug-ins for corporate legal departments. Instead, Intapp focuses on professional and financial services firms, emphasizing areas like business growth, compliance, profitability, and talent management. Intapp sees its history and relationships with firms as a strong position to influence AI deployment in these industries.
Q:How does Intapp balance third-party partnerships like Decimal Point Analytics while safeguarding proprietary data?
A:Intapp has a significant investment in an ecosystem strategy, working with data partners to help firms manage and safeguard their proprietary information. The company focuses on enabling firms to differentiate themselves using their expertise while protecting their data. Intapp also provides proprietary data to firms and emphasizes compliance and information governance.
Q:What motivates customers to adopt Intapp Assist and AI offerings?
A:Customers are motivated by efficiency and the ability to access a universe of information that would be cost-prohibitive to assemble manually. Intapp Assist provides richer, clearer, and more comprehensive answers, enabling firms to gain a competitive advantage. The adoption is driven by both efficiency and the capability to compete in a more AI-powered world.
Q:Are customers experimenting with AI tools themselves or relying on vendors like Intapp?
A:While some firms are experimenting with AI tools, many prefer working with specialist providers like Intapp, which offer enterprise-grade, secure, and AI-enabled capabilities. Intapp encourages experimentation as it helps firms understand the value of professional solutions, leading to growth partnerships.
Q:How have customer conversations evolved regarding AI adoption and CRPO metrics?
A:Customer conversations have accelerated, moving from curiosity to experimentation and now to articulating business value from AI deployments. This has led to positive reactions and monetization opportunities. The CRPO metric has accelerated, reflecting increased adoption of AI products and a sequential step-up in NRR.
Q:Does the partnership with Microsoft help de-risk deal cycles or shorten time to close?
A:Yes, the partnership with Microsoft helps de-risk deal cycles and shorten time to close, especially for enterprise firms with Azure marketplace agreements. This partnership has led to larger deals, new customer acquisitions, and growth in cloud adoption.
Q:Is there a tailwind from M&A activity in financial services for Intapp?
A:Yes, M&A activity and trends like private equity investments in accounting firms are driving demand for modernizing technology infrastructure. Intapp is well-positioned to benefit from these trends, especially with its AI-forward approach.
Q:Why was the full revenue beat not reflected in the guidance?
A:The company continues to prioritize a cloud-first strategy, with shifts in revenue mix due to migrations and investments in partner ecosystems. The guidance reflects these strategic priorities and ongoing success in cloud adoption.
Q:What is the forward plan for the buyback program?
A:The buyback program is focused on anti-dilution measures and offsetting forward dilution. The company has confidence in its balance sheet and plans to continue using the buyback program strategically.
Q:Are firms dedicating distinct budgets to AI, and how is Intapp investing in AI?
A:Some firms have specific AI or innovation budgets, while others integrate AI into traditional IT budgets. Intapp has been investing in R&D for AI for several years and is preparing for a significant product release in February, focusing on applied AI to drive success for firms.
Q:What pricing models is Intapp exploring for AI offerings?
A:Intapp currently uses per-user and firm-based pricing models. The company is open to exploring consumption-based or value-based pricing models to align with client value perception and is experimenting with these approaches.
Q:What are the drivers behind the notable step-up in NRR?
A:The step-up in NRR is driven by the success of the enterprise motion, partner ecosystem, and increased upsell and cross-sell opportunities. Larger initial deals and expansions have contributed to this growth.
Q:How is Intapp tracking the progress of AI SKUs and their impact on ARR growth?
A:Intapp is monitoring the direct ARR and attach rates of AI SKUs, with updates expected at the upcoming Investor Day. The company is pleased with the uptake of AI offerings and their contribution to growth.
Q:Review of Unclear Management Responses
A:Management avoided directly addressing the question about why the full revenue beat was not reflected in the guidance. The response focused on the cloud-first strategy and revenue mix shifts but lacked specific details or clarity on the exact reasons for the guidance decision.
You have reached the limit. Sign up to access full content
Get started
Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
AI Ford
AI capability
AI enterprise
AI modernization
AI relationship
AI solution
AML solution
Australia accounting
BKL Graviton
Buchanan Ingersoll
Burr Forman
CRM reporting
CRMs AI
Capital visibility
Douglas legacy
Examples Burr
Ford Law
Intapp AI
Law firm
Microsoft investment
access
addition
advisory
compliance solution
dollar deal
employee
firm compliance
firm investment
insight
intake conflict
intelligence
investment dollar
legacy system
non income
partner network
process
response
win
INTA Transcript
Intapp, Inc. (INTA) Q2 2026 Earnings Call Transcript
Positive2-3
The earnings call summary reflects a positive sentiment with strong financial performance and optimistic guidance. The Q&A section reveals strategic partnerships and AI adoption as growth drivers, despite some concerns over guidance clarity. The market cap suggests moderate reaction, leading to a predicted stock price increase of 2% to 8% over the next two weeks.
Intapp, Inc. (INTA) Presents at UBS Global Technology and AI Conference 2025 Transcript
Neutral12-2
Intapp, Inc. (INTA) Q1 2026 Earnings Call Transcript
Positive11-5
The earnings call indicates strong SaaS and total revenue growth, optimistic guidance, and a strategic partnership with Microsoft. Despite some volatility in billings and conservative full-year guidance, the focus on AI, cloud adoption, and shareholder returns suggests a positive outlook. With a market cap of around $2.65 billion, the stock is likely to experience a moderate positive reaction, falling within the 2% to 8% range.
Intapp, Inc. (INTA) Q4 2025 Earnings Call Transcript
Positive8-12
The earnings call highlighted strong SaaS revenue growth, improved margins, and positive free cash flow. The Q&A session revealed optimism about partnerships and AI adoption, despite some uncertainty in guidance specifics. The market cap suggests a moderate reaction, leading to a positive stock price movement prediction.
INTA Slides
INTA Report
Frequently Asked Questions
Where does this earnings call transcript come from?
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
How soon is the transcript available after the earnings call ends?
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
Is the transcript edited or altered in any way?
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
Why do some answers appear as “Unclear” or “Inaudible”?
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
