INTA — Intapp, Inc.

Intapp Q3 Fiscal 2026 Earnings Call Summary

1. Key Financial Results and Metrics:

• Total Revenue: $146 million, up 13% year-over-year.
• SaaS Revenue: Nearly $108 million, a 27% increase year-over-year.
• Cloud ARR: $459 million, growing 31% year-over-year, representing 82% of total ARR of $560 million.
• Non-GAAP Operating Income: $25.7 million, up from $20.3 million year-over-year.
• Non-GAAP EPS: $0.29.
• Free Cash Flow: Record $63.4 million.
• Cloud Net Revenue Retention Rate: 123%.
• Remaining Performance Obligations: $791.4 million, up 27% year-over-year.

2. Strategic Updates and Business Highlights:

• Intapp launched Celeste, an AI-native platform tailored for professional firms, which is expected to enhance operational efficiency and compliance.
• The company reported strong engagement and demand for Celeste, with 15% of net new bookings in Q3 attributed to this offering.
• Intapp's partnership with Microsoft continues to strengthen, enhancing deal velocity and client trust.
• The company is expanding its addressable market by integrating AI into existing workflows, moving beyond traditional software budgets to capture a larger share of personnel budgets.
• Notable client wins include Ropes & Gray and Mauldin & Jenkins, showcasing the demand for AI-driven solutions.

3. Forward Guidance and Outlook:

• For Q4 FY2026, Intapp expects:
  • SaaS Revenue: $113.1 million to $114.1 million.
  • Total Revenue: $149.1 million to $150.1 million.
  • Non-GAAP Operating Income: $28.4 million to $29.4 million.
  • Non-GAAP EPS: $0.36 to $0.38.
• For the full fiscal year, guidance includes:
  • SaaS Revenue: $421 million to $422 million.
  • Total Revenue: $574.3 million to $575.3 million.
  • Non-GAAP Operating Income: $102.7 million to $103.7 million.
  • Non-GAAP EPS: $1.22 to $1.24.

4. Bad News, Challenges, or Points of Concern:

• License revenue declined 22% year-over-year, reflecting clients' migration to cloud solutions.
• Competitive pressures from well-funded startups and established players in the AI space are increasing, necessitating a strong differentiation strategy.
• The market's shift towards AI solutions creates a risk of ungoverned information and compliance issues, which could impact client trust if not managed properly.

5. Notable Q&A Insights:

• Celeste Feedback: Initial feedback from clients on Celeste has been overwhelmingly positive, with many firms expressing interest in its compliance capabilities.
• Hiring Plans: Clients are cautious about staffing changes, preferring to deploy AI to enhance efficiency rather than reduce headcount significantly.
• Competitive Landscape: Intapp is seeing competition from venture-backed startups but maintains a strong position due to its established trust and compliance framework.
• AI Contribution: AI solutions, including Celeste and Assist, are becoming significant contributors to new bookings, indicating a growing acceptance of AI in professional services.

Overall, Intapp's Q3 results reflect strong growth and strategic positioning in the AI market, despite facing competitive pressures and challenges related to client transitions to cloud-based solutions.