INTA — Intapp, Inc.

Summary of Intapp Q1 2026 Earnings Call

1. Key Financial Results and Metrics

• Total Revenue: $139 million, up 17% year-over-year.
• SaaS Revenue: $98 million, up 27% year-over-year.
• Cloud ARR: $401 million, up 30% year-over-year, representing 80% of total ARR ($504 million).
• Non-GAAP Operating Income: $20.9 million, up from $15.1 million in Q1 2025.
• Non-GAAP Diluted EPS: $0.24, compared to $0.21 in the prior year.
• Free Cash Flow: $13.2 million.
• Cloud Net Revenue Retention Rate: 121%, indicating strong client retention and expansion.
• Total Remaining Performance Obligations (RPO): $715.2 million, up 30% year-over-year.

2. Strategic Updates and Business Highlights

• Intapp launched new AI capabilities, particularly in its Intapp Time product, enhancing timekeeping with generative AI features.
• The company expanded its partnership with Microsoft, which has been a significant growth driver, with over half of the top Q1 wins executed jointly.
• Intapp's vertical AI strategy is gaining traction, with strong client adoption and positive feedback on new product releases.
• The firm is focusing on expanding its partner ecosystem, now including 145 curated data technology and services partners, enhancing go-to-market execution.
• Notable client wins included major law firms and financial services firms adopting Intapp's solutions, indicating strong demand across verticals.

3. Forward Guidance and Outlook

• Q2 2026 Guidance: SaaS revenue expected between $100 million and $101 million; total revenue between $137.6 million and $138.6 million; non-GAAP operating income between $21.4 million and $22.4 million; non-GAAP EPS between $0.25 and $0.27.
• Full Year 2026 Guidance: SaaS revenue expected between $412 million and $416 million; total revenue between $569.3 million and $573.3 million; non-GAAP operating income between $97.7 million and $101.7 million; non-GAAP EPS between $1.15 and $1.19.

4. Bad News, Challenges, or Points of Concern

• Professional services revenue declined 8% year-over-year to $12.3 million, indicating potential challenges in that segment.
• The company is experiencing some volatility in quarterly billings, which may impact revenue predictability.
• While cloud migration is accelerating, some clients remain on-premise due to historical regulatory concerns and budget prioritization, which could slow overall growth in that segment.

5. Notable Q&A Insights

• The strong net revenue retention rate of 121% is attributed to successful upselling and cross-selling strategies, particularly within enterprise accounts.
• There is optimism about AI's role in driving client behavior and adoption of cloud solutions, with firms increasingly looking for compliant AI tools.
• The company is cautious in its guidance, emphasizing a prudent approach to forecasting amidst ongoing market dynamics.
• Intapp's international expansion is supported by partnerships, particularly in Spanish and Portuguese-speaking markets, but requires careful planning and pacing.
• The relationship with Microsoft is enhancing deal sizes and speed, with co-selling opportunities becoming more prevalent, contributing positively to the sales funnel.

Overall, Intapp reported strong financial performance in Q1 2026, driven by cloud growth and strategic partnerships, while also facing challenges in professional services and client migration from on-premise solutions. The outlook remains positive, supported by robust demand for AI-driven solutions.