Core Insights - Intapp Inc (NASDAQ: INTA) experienced an 11.1% increase in stock price, reaching $41.02, following better-than-expected fiscal fourth-quarter results and an upward revision of its full-year revenue forecast, driven by growing cloud revenue [1] - The company announced a $150 million share repurchase program, indicating confidence in its financial position [1] Stock Performance - Prior to the recent rebound, Intapp's stock had been declining since mid-June, marking its ninth consecutive weekly loss, and is down 36.4% year to date from a record high of $77.74 on February 14 [2] - Analysts have mixed opinions on the stock, with UBS lowering its price target to $72 from $83, while Barclays raised its target to $47 from $44 [3] - The 12-month consensus price target stands at $61.43, which represents a significant premium over current stock levels [3] Options Activity - Intapp's stock has seen an increase in options trading, with daily options volume reaching eight times its usual amount, indicating heightened interest [3] - The August 45 call option has emerged as the most popular, with new positions being opened [3]

Financial Data and Key Metrics Changes - In Q4, cloud ARR grew 29% year over year to $383 million, representing 79% of total ARR of $485 million [5][29] - SaaS revenue reached $90 million, up 27% year over year, while total revenue was $135 million, an 18% increase year over year [5][26] - Non-GAAP gross margin improved to 78% from 76.1% a year ago, reflecting operational efficiency [27] - Free cash flow for the quarter was $37.5 million, or 28% of total revenue, with cash and cash equivalents ending at $313.1 million [28][29] Business Line Data and Key Metrics Changes - SaaS revenue for the full year was $331.9 million, up 28% year over year, driven by new client acquisitions and ongoing cloud migrations [30] - License revenue totaled $120 million, up 2% year over year, while professional services revenue was $52.1 million, down 3% year over year [31] - The number of clients with ARR over $1 million increased by 49% year over year to 109 [6][29] Market Data and Key Metrics Changes - The cloud net revenue retention rate was 120%, indicating strong retention and expansion among existing cloud clients [29] - The company ended the fiscal year with over 2,700 total clients, with significant growth in the number of clients in various ARR brackets [29] Company Strategy and Development Direction - The company is optimistic about its applied AI strategy and vertical SaaS platform, which are seen as key growth drivers in a large addressable market [8][21] - Strategic acquisitions and partnerships, particularly with Microsoft and Snowflake, are integral to expanding the product portfolio and enhancing market presence [12][13] - The focus on enterprise sales and the strategic accounts program has led to a 49% growth in million-dollar accounts year over year [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to leverage AI for growth and compliance, which is increasingly important in regulated markets [9][52] - The outlook for fiscal year 2026 includes expectations for SaaS revenue between $411.4 million and $415.4 million, with non-GAAP operating income projected between $96 million and $100 million [33] Other Important Information - The company reported a total remaining performance obligation (RPO) of $719.7 million, up 27% year over year [29] - The partner ecosystem closed FY '25 with 145 active partners, contributing significantly to the company's largest deals [27] Q&A Session Summary Question: Can you elaborate on the 120% net revenue retention rate? - Management noted that low churn and strong execution in upselling and cross-selling contributed to the high retention rate, especially as the company moves further upstream into enterprise accounts [35][36] Question: What is the contribution of the term sheet acquisition to ARR? - The contribution from the term sheet acquisition was described as relatively immaterial, accounting for less than 5% of the incremental ARR in the quarter [82][84] Question: How does the partnership with Snowflake enhance the company's offerings? - The partnership with Snowflake was established to ensure interoperability and meet the demand for integrated solutions among enterprise clients, enhancing the overall value proposition [48][50] Question: What are the expectations for capital allocation and share repurchase? - The board has authorized $150 million in share repurchases, reflecting the company's strong financial performance and commitment to returning value to shareholders [101]

Financial Data and Key Metrics Changes - In Q4, the company's cloud ARR grew 29% year over year to $383 million, representing 79% of total ARR of $485 million [4][22] - SaaS revenue reached $90 million, up 27% year over year, while total revenue was $135 million, an 18% increase year over year [4][25] - Non-GAAP gross margin improved to 78% from 76.1% a year ago, reflecting progress toward breakeven gross margins in professional services [26] - Non-GAAP operating income was $21.3 million, up from $13.5 million in Q4 of the previous year [27] - Free cash flow for the quarter was $37.5 million, or 28% of total revenue [27] Business Line Data and Key Metrics Changes - The number of clients with ARR exceeding $1 million increased by 49% year over year, reaching 109 [5][28] - SaaS revenue for the full fiscal year was $331.9 million, up 28% year over year [29] - License revenue totaled $120 million, up 2% year over year, driven by on-premise price increases and multi-year renewals [30] Market Data and Key Metrics Changes - The company ended the fiscal year with over 2,700 total clients, with a cloud net revenue retention rate of 120% [28][29] - The partner ecosystem closed FY '25 with 145 active partners, contributing significantly to the company's largest deals [26] Company Strategy and Development Direction - The company is optimistic about its applied AI strategy and vertical SaaS platform, which are seen as strong foundations for sustained growth [6][20] - Strategic acquisitions have expanded the product portfolio and R&D capabilities, enhancing the company's competitive position in highly regulated markets [5][6] - The focus on enterprise sales and partnerships, particularly with Microsoft, is expected to drive future growth [12][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunities presented by digitalization, cloud adoption, and compliance-driven demand [22][23] - The company anticipates continued broad-based adoption of its AI offerings, supported by a growing client base and a healthy pipeline [25][32] - Management highlighted the importance of understanding compliance requirements as a key differentiator in the market [50][51] Other Important Information - The company achieved over $500 million in annual revenue for the first time, generating well over $100 million in free cash flow [23][32] - The acquisition of Termsheet is expected to enhance the company's capabilities in the real assets market, which is seen as a significant growth opportunity [13][96] Q&A Session Summary Question: Can you elaborate on the 120% net revenue retention rate? - Management indicated that low churn and strong execution in upselling and cross-selling contributed to the high retention rate, particularly as the company moves further upstream into enterprise accounts [35][36] Question: What is the rationale behind the collaboration with Snowflake? - The partnership with Snowflake was established to enhance interoperability and meet the growing demand for integrated solutions among enterprise clients [47][49] Question: How does the company view the contribution of the Microsoft partnership? - The partnership with Microsoft has been pivotal, with significant contributions to large deals and a streamlined sales process due to existing agreements [88][89] Question: What is the expected contribution of the Term Sheet acquisition to ARR? - The contribution from Term Sheet was described as relatively immaterial, accounting for less than 5% of the incremental ARR in the quarter [81][82] Question: How does the company plan to allocate capital moving forward? - The company plans to invest in product development, pursue strategic acquisitions, and utilize the newly authorized share repurchase program [102][104]

[Company Overview and Executive Summary](index=1&type=section&id=Company%20Overview%20and%20Executive%20Summary) Intapp, a global AI-powered solutions provider, announced its Q4 and full FY25 financial results and provided its FY26 outlook [Company Introduction](index=1&type=section&id=Company%20Introduction) Intapp, a leading global provider of AI-powered solutions, announced its Q4 and full fiscal year 2025 financial results and fiscal year 2026 outlook - Intapp (NASDAQ: INTA) is a **leading global provider of AI-powered solutions** for professionals at advisory, capital markets, and legal firms[1](index=1&type=chunk) - The company announced financial results for its fiscal fourth quarter and fiscal year ended June 30, 2025, and provided its outlook for the first quarter and full fiscal year 2026[1](index=1&type=chunk) [CEO Statement](index=1&type=section&id=CEO%20Statement) CEO John Hall praised a strong FY25, attributing success to AI solutions, client growth, partnerships, and cloud migration, anticipating continued momentum - CEO John Hall reported a solid fourth quarter, capping off a **strong and exciting fiscal year 2025**[2](index=2&type=chunk) - Fiscal year 2025 results reflect hard work in launching **innovative new AI solutions**, expanding the global client base, forging new partnerships, and helping firms move to the cloud[2](index=2&type=chunk) - The company is excited to enter the new year with momentum[2](index=2&type=chunk) [Financial Performance Highlights](index=1&type=section&id=Financial%20Performance%20Highlights) Intapp demonstrated robust financial growth in both the fourth quarter and full fiscal year 2025, driven by significant increases in SaaS revenue, total revenue, and profitability [Fourth Quarter Fiscal Year 2025 Highlights](index=1&type=section&id=Fourth%20Quarter%20Fiscal%20Year%202025%20Highlights) Intapp reported strong Q4 FY25 growth, with SaaS revenue up 27% to $90.2 million, total revenue up 18% to $135.0 million, and Cloud ARR up 29% to $383.1 million | Metric | Q4 FY25 (Millions) | Q4 FY24 (Millions) | YoY Change | | :-------------------------------- | :----------------- | :----------------- | :--------- | | SaaS Revenue | $90.2 | $70.8 | +27% | | Total Revenue | $135.0 | $114.4 | +18% | | Cloud ARR | $383.1 | $297.0 (implied) | +29% | | Total ARR | $485.4 | $404.5 (implied) | +20% | | GAAP Operating (Loss) Income | $(4.2) | $0.3 | - | | Non-GAAP Operating Income | $21.3 | $13.5 | +57.8% | | GAAP Net Loss | $(0.5) | $(0.6) | - | | Non-GAAP Net Income | $23.0 | $11.9 | +93.3% | | GAAP Net Loss Per Share | $(0.01) | $(0.01) | - | | Non-GAAP Diluted Net Income Per Share | $0.27 | $0.15 | +80% | - Cloud ARR represented **79% of total ARR** as of June 30, 2025, compared to 73% as of June 30, 2024[4](index=4&type=chunk) - Trailing twelve months cloud net revenue retention rate as of June 30, 2025, was **120%**[3](index=3&type=chunk) [Full Fiscal Year 2025 Highlights](index=2&type=section&id=Full%20Fiscal%20Year%202025%20Highlights) For FY25, Intapp achieved 28% SaaS revenue growth to $331.9 million, 17% total revenue growth to $504.1 million, and non-GAAP operating income more than doubled to $75.6 million | Metric | FY25 (Millions) | FY24 (Millions) | YoY Change | | :-------------------------------- | :---------------- | :---------------- | :--------- | | SaaS Revenue | $331.9 | $259.3 | +28% | | Total Revenue | $504.1 | $430.5 | +17% | | GAAP Operating Loss | $(27.4) | $(32.2) | - | | Non-GAAP Operating Income | $75.6 | $38.7 | +95.3% | | GAAP Net Loss | $(18.2) | $(32.0) | - | | Non-GAAP Net Income | $78.9 | $36.4 | +116.8% | | GAAP Net Loss Per Share | $(0.23) | $(0.45) | - | | Non-GAAP Diluted Net Income Per Share | $0.94 | $0.45 | +108.9% | | Cash and Cash Equivalents (End of Period) | $313.1 | $208.4 | +50.2% | | Net Cash Provided by Operating Activities | $123.5 | $67.2 | +83.7% | [Business Operations and Strategic Developments](index=2&type=section&id=Business%20Operations%20and%20Strategic%20Developments) Intapp expanded its client base and strategic partnerships while maintaining strong revenue retention, reflecting increased AI adoption across its target professional services industries [Client and Revenue Retention Metrics](index=2&type=section&id=Client%20and%20Revenue%20Retention%20Metrics) Intapp expanded its client base to over 2,700, significantly increasing clients with over $1 million ARR, and maintained a strong 120% cloud net revenue retention rate - As of June 30, 2025, Intapp served **more than 2,700 clients**[7](index=7&type=chunk) - **795 clients** had contracts greater than **$100,000 of ARR**, and **109 clients** had more than **$1.0 million of ARR** (up from 73 in the prior fiscal year)[7](index=7&type=chunk) - The trailing twelve months' cloud net revenue retention rate as of June 30, 2025, was **120%**, indicating successful upsell and cross-sell to existing clients[7](index=7&type=chunk) [Strategic Partnerships and Market Insights](index=2&type=section&id=Strategic%20Partnerships%20and%20Market%20Insights) Intapp expanded its client base and partner ecosystem with MSCI, Snowflake, and SUBSCRIBE, while a study showed 72% AI adoption among professionals in its target industries - New clients and expanded existing accounts include law firms Blank Rome, Colin Biggers & Paisley, and Sills Cummis & Gross[7](index=7&type=chunk) - New or expanded partnerships were announced with MSCI, Snowflake, and SUBSCRIBE[7](index=7&type=chunk) - The 2025 Technology Perceptions study found **72% of accounting, consulting, legal, and private capital professionals are using AI at work**, up from 48% in 2024[7](index=7&type=chunk) [Financial Outlook](index=3&type=section&id=Financial%20Outlook) Intapp provided an optimistic financial outlook for fiscal year 2026, projecting continued growth in key revenue and profitability metrics, while detailing non-GAAP adjustments [Fiscal Year 2026 Guidance](index=3&type=section&id=Fiscal%20Year%202026%20Guidance) Intapp provided optimistic Q1 and full FY26 guidance, projecting continued growth in SaaS and total revenue, alongside increased non-GAAP operating income and diluted net income per share | Metric | Q1 FY26 Outlook (Millions) | FY26 Outlook (Millions) | | :-------------------------------- | :------------------------- | :---------------------- | | SaaS Revenue | $95.7 - $96.7 | $411.4 - $415.4 | | Total Revenue | $134.8 - $135.8 | $566.7 - $570.7 | | Non-GAAP Operating Income | $16.0 - $17.0 | $96.0 - $100.0 | | Non-GAAP Diluted Net Income Per Share | $0.18 - $0.20 | $1.09 - $1.13 | [Non-GAAP Guidance Exclusions](index=3&type=section&id=Non-GAAP%20Guidance%20Exclusions) Non-GAAP guidance excludes estimated stock-based compensation and amortization of intangible assets; other reconciling items are not quantitatively reconciled due to high variability - Non-GAAP operating income guidance excludes estimated **stock-based compensation** ($25.6 million for Q1 FY26, $109.4 million for FY26) and **amortization of intangible assets** ($2.9 million for Q1 FY26, $10.6 million for FY26)[10](index=10&type=chunk) - Non-GAAP diluted net income per share guidance excludes estimated **stock-based compensation** ($0.30 per share for Q1 FY26, $1.26 per share for FY26) and **amortization of intangible assets** ($0.03 per share for Q1 FY26, $0.12 per share for FY26)[10](index=10&type=chunk) - Quantitative reconciliation for certain other reconciling items (e.g., acquisition-related contingent liabilities, transaction costs) is not provided due to **high variability and unpredictability**, which could significantly impact GAAP operating results[10](index=10&type=chunk) [Corporate Information and Disclosures](index=3&type=section&id=Corporate%20Information%20and%20Disclosures) This section provides details on corporate communications, Intapp's business model, forward-looking statement disclaimers, and recent changes in revenue classification [Corporate Presentation & Webcast](index=3&type=section&id=Corporate%20Presentation%20%26%20Webcast) Intapp provides a supplemental financial presentation on its investor relations website and hosted a conference call for analysts and investors with an online replay - A supplemental financial presentation and other information are accessible through Intapp's **investor relations website** (https://investors.intapp.com/)[11](index=11&type=chunk) - Intapp hosted a conference call for analysts and investors on August 12, 2025, with a live webcast and a **90-day replay available** on its investor relations website[12](index=12&type=chunk) [About Intapp](index=4&type=section&id=About%20Intapp) Intapp provides vertical SaaS solutions powered by Applied AI, enabling professionals in advisory, capital markets, and legal firms to make smarter decisions and manage risk - Intapp software helps professionals unlock their teams' knowledge, relationships, and operational insights using **Applied AI**[13](index=13&type=chunk) - The company offers a portfolio of **vertical SaaS solutions** for accounting, consulting, investment banking, legal, private capital, and real assets firms[13](index=13&type=chunk) - Intapp's solutions aim to help professionals make smarter decisions, manage risk, and increase competitive advantage[13](index=13&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding future financial performance and strategy, subject to numerous uncertainties and risks including global economics, data security, and AI competition, with no obligation to update - The press release contains **forward-looking statements** regarding financial outlook for FY26, growth strategy, business plans, and market position[15](index=15&type=chunk) - These statements are subject to **numerous uncertainties and risks**, including global events, data breaches, market conditions, competition (including AI products), and the successful integration of acquired companies[15](index=15&type=chunk) - The company assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law[15](index=15&type=chunk) [Presentation Changes Related to Revenue Classification](index=5&type=section&id=Presentation%20Changes%20Related%20to%20Revenue%20Classification) Effective July 1, 2024, Intapp reclassified support services for subscription licenses into 'license' revenue, impacting presentation but not total revenues, operating income, or net income - Effective July 1, 2024, support services related to subscription licenses are now classified within **'license' revenue**, previously in 'SaaS and Support'[16](index=16&type=chunk) - SaaS revenues now include subscription fees from SaaS solutions, premium support services related to SaaS, and updates to the subscribed service[16](index=16&type=chunk) - These reclassifications related to revenue and cost of revenues presentation did not affect total revenues, operating income, or net income[17](index=17&type=chunk) [Non-GAAP Financial Measures and Other Metrics](index=6&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Other%20Metrics) This section defines Intapp's non-GAAP financial measures and key operational metrics, including Free Cash Flow, Total ARR, Cloud ARR, and Cloud net revenue retention rate [Definitions of Non-GAAP Measures and Metrics](index=6&type=section&id=Definitions%20of%20Non-GAAP%20Measures%20and%20Metrics) Intapp defines non-GAAP measures by excluding items like stock-based compensation and amortization, and provides definitions for Free Cash Flow, Total ARR, Cloud ARR, and Cloud net revenue retention rate - Non-GAAP measures exclude **stock-based compensation**, **amortization of intangible assets**, acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, and the income tax effect of non-GAAP adjustments[18](index=18&type=chunk) - Free cash flow is defined as **net cash provided by operating activities less cash paid for purchases of property and equipment**[19](index=19&type=chunk) - **Total ARR** represents the annualized recurring value of all active SaaS and on-premise license contracts, while **Cloud ARR** is the portion from active SaaS contracts. **Cloud net revenue retention rate** measures the net revenue retention of SaaS contracts[20](index=20&type=chunk) [Condensed Consolidated Financial Statements (GAAP)](index=8&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(GAAP)) This section presents Intapp's GAAP condensed consolidated statements of operations, balance sheets, and cash flows for the reported periods, detailing financial performance and position [Statements of Operations](index=8&type=section&id=Statements%20of%20Operations) The condensed consolidated statements of operations detail Intapp's revenues, costs, gross profit, operating expenses, and net loss for Q4 and full FY25 compared to the prior year | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------- | :------ | :------ | :--- | :--- | | SaaS Revenues | $90,186 | $70,835 | $331,948 | $259,256 | | License Revenues | $31,831 | $30,254 | $120,024 | $117,386 | | Professional Services Revenues | $13,022 | $13,287 | $52,148 | $53,881 | | Total Revenues | $135,039 | $114,376 | $504,120 | $430,523 | | Gross Profit | $100,957 | $83,638 | $372,972 | $306,862 | | Gross Margin | 74.8% | 73.1% | 74.0% | 71.3% | | Operating (Loss) Income | $(4,215) | $302 | $(27,357) | $(32,191) | | Net Loss | $(528) | $(597) | $(18,217) | $(32,021) | | Net Loss Per Share, Basic and Diluted | $(0.01) | $(0.01) | $(0.23) | $(0.45) | [Balance Sheets](index=9&type=section&id=Balance%20Sheets) The condensed consolidated balance sheets present Intapp's financial position as of June 30, 2025, and 2024, detailing assets, liabilities, and equity, with increases in cash and goodwill | Metric (in thousands) | June 30, 2025 | June 30, 2024 | | :-------------------- | :------------ | :------------ | | Total Current Assets | $455,880 | $342,654 | | Total Assets | $894,161 | $732,999 | | Total Current Liabilities | $349,858 | $300,647 | | Total Liabilities | $374,396 | $329,761 | | Total Stockholders' Equity | $519,765 | $403,238 | - Cash and cash equivalents increased to **$313.1 million** as of June 30, 2025, from $208.4 million as of June 30, 2024[28](index=28&type=chunk) - Goodwill increased to **$326.3 million** as of June 30, 2025, from $286.0 million as of June 30, 2024[28](index=28&type=chunk) [Statements of Cash Flows](index=10&type=section&id=Statements%20of%20Cash%20Flows) The condensed consolidated statements of cash flows illustrate Intapp's cash movements from operating, investing, and financing activities for Q4 and full FY25, showing increased operating cash flow | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------------------- | :------ | :------ | :--- | :--- | | Net Cash Provided by Operating Activities | $38,343 | $27,079 | $123,529 | $67,231 | | Net Cash Used in Investing Activities | $(55,688) | $(12,883) | $(62,875) | $(19,828) | | Net Cash Provided by Financing Activities | $5,484 | $6,745 | $41,183 | $30,325 | | Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | $(10,097) | $20,944 | $104,739 | $77,385 | | Cash, Cash Equivalents and Restricted Cash - End of Period | $313,309 | $208,570 | $313,309 | $208,570 | - Cash outflows for business combinations, net of cash acquired, increased to **$51.8 million** in FY25 from $11.0 million in FY24[30](index=30&type=chunk) [Reconciliation of GAAP to Non-GAAP Financial Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section provides detailed reconciliations from GAAP to non-GAAP financial measures, including gross profit, operating expenses, operating income, net income, and free cash flow [Non-GAAP Gross Profit Reconciliation](index=11&type=section&id=Non-GAAP%20Gross%20Profit%20Reconciliation) Intapp's non-GAAP gross profit for FY25 was $389.5 million (77.3% margin), up from $319.3 million (74.2% margin) in FY24, after adjusting GAAP gross profit for specific items | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------- | :------ | :------ | :--- | :--- | | GAAP Gross Profit | $100,957 | $83,638 | $372,972 | $306,862 | | Stock-based Compensation Adjustment | $2,356 | $1,474 | $9,909 | $7,322 | | Amortization of Intangible Assets Adjustment | $1,952 | $1,614 | $6,541 | $4,778 | | Restructuring and Other Costs Adjustment | $21 | $342 | $123 | $342 | | Non-GAAP Gross Profit | $105,286 | $87,068 | $389,545 | $319,304 | | Non-GAAP Gross Margin | 78.0% | 76.1% | 77.3% | 74.2% | [Non-GAAP Operating Expenses Reconciliation](index=12&type=section&id=Non-GAAP%20Operating%20Expenses%20Reconciliation) Non-GAAP operating expenses for R&D, Sales & Marketing, and G&A are presented after excluding stock-based compensation, amortization, and acquisition-related costs | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------------------- | :------ | :------ | :--- | :--- | | Non-GAAP Research and Development | $30,286 | $26,527 | $112,151 | $98,648 | | Non-GAAP Sales and Marketing | $35,800 | $29,005 | $133,710 | $115,234 | | Non-GAAP General and Administrative | $17,912 | $18,018 | $68,121 | $66,696 | - Adjustments to GAAP operating expenses primarily include stock-based compensation, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, and restructuring and other costs[32](index=32&type=chunk) [Non-GAAP Operating Income Reconciliation](index=12&type=section&id=Non-GAAP%20Operating%20Income%20Reconciliation) Intapp's non-GAAP operating income for FY25 was $75.6 million, a significant increase from $38.7 million in FY24, achieved by adjusting GAAP operating loss for specific items | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------- | :------ | :------ | :--- | :--- | | GAAP Operating Loss | $(4,215) | $302 | $(27,357) | $(32,191) | | Stock-based Compensation Adjustment | $19,971 | $10,604 | $88,086 | $59,895 | | Amortization of Intangible Assets Adjustment | $3,202 | $3,095 | $11,853 | $11,029 | | Acquisition-related Contingent/Deferred Liabilities Adjustment | $1,485 | $(1,565) | $481 | $(3,290) | | Transaction Costs Adjustment | $297 | $536 | $1,355 | $2,685 | | Restructuring and Other Costs Adjustment | $548 | $546 | $1,145 | $598 | | Non-GAAP Operating Income | $21,288 | $13,518 | $75,563 | $38,726 | [Non-GAAP Net Income Reconciliation](index=13&type=section&id=Non-GAAP%20Net%20Income%20Reconciliation) Intapp reported non-GAAP net income of $78.9 million for FY25, a substantial increase from $36.4 million in FY24, adjusting GAAP net loss for specific items and tax effects | Metric (in thousands) | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------------------- | :------ | :------ | :--- | :--- | | GAAP Net Loss | $(528) | $(597) | $(18,217) | $(32,021) | | Stock-based Compensation Adjustment | $19,971 | $10,604 | $88,086 | $59,895 | | Amortization of Intangible Assets Adjustment | $3,202 | $3,095 | $11,853 | $11,029 | | Acquisition-related Contingent/Deferred Liabilities Adjustment | $1,485 | $(1,565) | $481 | $(3,290) | | Transaction Costs Adjustment | $297 | $536 | $1,355 | $2,685 | | Restructuring and Other Costs Adjustment | $548 | $546 | $1,145 | $598 | | Income Tax Effect of Non-GAAP Adjustments | $(1,929) | $(766) | $(5,762) | $(2,502) | | Non-GAAP Net Income | $23,046 | $11,853 | $78,941 | $36,394 | | Non-GAAP Net Income Per Share, Diluted | $0.27 | $0.15 | $0.94 | $0.45 | [Free Cash Flow Reconciliation](index=13&type=section&id=Free%20Cash%20Flow%20Reconciliation) Intapp's free cash flow for FY25 significantly increased to $121.9 million from $64.8 million in FY24, calculated by adjusting net cash from operating activities for property and equipment purchases | Metric (in thousands) | FY25 | FY24 | | :-------------------------------- | :----- | :----- | | Net Cash Provided by Operating Activities | $123,529 | $67,231 | | Purchases of Property and Equipment | $(1,673) | $(2,457) | | Free Cash Flow | $121,856 | $64,774 | - Beginning with Q2 FY24, the free cash flow calculation excludes capitalized internal-use software costs and cash paid for interest, with prior periods recast to conform to this updated methodology[37](index=37&type=chunk) [Contact Information](index=6&type=section&id=Contact%20Information) This section provides contact details for investor relations and media inquiries [Investor Contact](index=6&type=section&id=Investor%20Contact) David Trone, Senior Vice President of Investor Relations, serves as the primary contact for investor inquiries - Investor Contact: **David Trone, Senior Vice President, Investor Relations, Intapp, Inc.**[23](index=23&type=chunk) - Email for investor inquiries: **ir@intapp.com**[23](index=23&type=chunk) [Media Contact](index=7&type=section&id=Media%20Contact) Ali Robinson, Global Media Relations Director, is the designated contact for media inquiries - Media Contact: **Ali Robinson, Global Media Relations Director, Intapp, Inc.**[24](index=24&type=chunk) - Email for media inquiries: **press@intapp.com**[24](index=24&type=chunk)

Core Insights - The article discusses the current market trends and potential investment opportunities within specific sectors, highlighting the importance of thorough analysis before making investment decisions [1][2]. Group 1: Market Trends - Recent market fluctuations have shown a significant impact on investor sentiment, with a notable increase in volatility across various sectors [1]. - Certain industries are experiencing growth, driven by technological advancements and changing consumer preferences, which may present lucrative investment opportunities [1]. Group 2: Investment Opportunities - Companies that are adapting to digital transformation are likely to outperform their peers, making them attractive targets for investment [1]. - The analysis emphasizes the need for investors to focus on companies with strong fundamentals and innovative strategies to navigate the current economic landscape [1].

Core Insights - The article does not provide specific insights or analysis regarding any companies or industries, focusing instead on disclosures and disclaimers related to investment positions and advice [1][2] Group 1 - There are no stock, option, or similar derivative positions held by the author in any mentioned companies, nor plans to initiate such positions within the next 72 hours [1] - The article expresses personal opinions of the author and does not reflect the views of Seeking Alpha as a whole [2] - Seeking Alpha's analysts include both professional and individual investors who may not be licensed or certified by any regulatory body [2]

Core Insights - Blank Rome is migrating its compliance and time solutions to Intapp Cloud Infrastructure, incorporating Intapp DealCloud and Intapp Billstream to enhance AI capabilities and data-driven insights [1][2][3] Group 1: Migration to Cloud - The firm is transitioning multiple Intapp products, including Intapp Time, Intake, Conflicts, Terms, and Walls, to the cloud to support core business and compliance processes [4][5] - This migration aims to improve the accuracy of work effort capture and facilitate client compliance during time entry and prebilling [4][5] Group 2: Enhancements through AI - The addition of Intapp Billstream will enhance prebilling and revenue recognition, improving collaboration between lawyers and billing teams [5][6] - DealCloud will provide a centralized platform for managing client relationships, enabling better tracking and forecasting of deals and pipeline [6][7] Group 3: Strategic Objectives - The integration of these cloud solutions aligns with Blank Rome's strategy to enhance access to collective knowledge, leading to improved client insights and operational outcomes [2][3] - The partnership with Intapp is expected to support Blank Rome's continued growth and strategic objectives through a unified data framework and modern AI-enabled technology [7]

Core Insights - Intapp has announced a strategic collaboration with Snowflake to enhance deal management capabilities for advisory, capital markets, and legal firms by unifying data and applying analytics [1][2][3] Group 1: Collaboration Details - The partnership combines Snowflake's data integration capabilities with Intapp's DealCloud, allowing firms to apply analytics to relevant deal data more efficiently [2][3] - This integration aims to eliminate data silos within firms, enabling better decision-making and embedding insights into key workflows [3] Group 2: Company Overview - Intapp provides AI-powered solutions that help professionals in various sectors, including investment banking and legal, to leverage their knowledge and operational insights [4] - The company's vertical SaaS solutions are designed to enhance decision-making, manage risk, and improve competitive advantage for top firms across multiple industries [4]

Core Insights - Gadens, a leading Australian law firm, has selected Intapp's compliance solutions to enhance its compliance with new anti-money laundering (AML) and counter-terrorism financing (CTF) regulations in Australia [1][4]. Group 1: Modernization of Business Processes - Gadens is modernizing its business intake and conflict management processes in response to new AML and CTF regulations [2]. - The firm aims to use Intapp's consolidated tool to improve its new business intake and onboarding processes, enhancing data integrity and reducing risk exposure [2][3]. Group 2: Compliance and Risk Management - The new AML legislative reforms will necessitate improved client onboarding processes, including comprehensive information gathering and verification methods [3]. - Intapp's solutions will assist Gadens in achieving compliance with the AML and CTF framework, which involves complex information gathering, monitoring, reporting, and recordkeeping [4][6]. Group 3: Technology and Data Management - Intapp's compliance solutions enable secure collection of sensitive information that integrates into the firm's review processes, verifying client identities through proprietary and third-party data [5]. - The software continuously monitors active clients for evolving risk factors, alerting risk professionals to potential issues and centralizing records for easy access [6]. Group 4: Strategic Impact - The partnership with Intapp is expected to transform Gadens' risk and governance framework, positioning the firm for long-term growth and operational excellence while simplifying AML and CTF compliance processes [7].

Summary of Intapp (INTA) Update / Briefing June 12, 2025 Company Overview - **Intapp** is a leading global provider of cloud-based industry-specific solutions for professional and financial services firms, focusing on the private capital sector [4][5] - The company serves over **2,650 clients** worldwide, with more than **1,700** from the financial services industry [4] - **DealCloud** is described as an AI-powered platform designed for the complex needs of partner-led financial services firms, functioning as a centralized hub for relationship and business intelligence [4][5] Core Discussion Points Origination in Private Capital Markets - **Origination** is identified as the lifeblood of growth in private capital markets, crucial during fundraising, investing, and exiting phases [10][11] - The fundraising phase involves identifying and engaging investors, with a trend towards consolidation where larger firms gain market share [12] - After capital is raised, deal teams must source between **8 to 15 deals** per fund, necessitating a disciplined approach to deal origination [13][14] - The exit phase focuses on maximizing returns, with current trends showing muted IPO activity and increased strategic buyer exits [16][18] Importance of AI in Origination - AI-powered origination can optimize processes across the investment cycle, leading to larger funds, shorter fundraising cycles, and better deal identification [21][22] - The use of AI helps reduce cognitive burdens on investment professionals, allowing them to focus on data analysis rather than data mining [23] - Relationships in private capital markets are critical, and systematic tracking of these relationships can minimize dependency risks and enhance collaboration [24][26] Market Context - The private capital market is at an inflection point, with increasing competition and a flight to quality among investors [28][29] - The operational complexity of large firms is growing, necessitating efficient fundraising and capital deployment strategies [30] - Technological advancements, particularly in AI, are transforming the landscape, providing commercial value propositions to private capital firms [30][31] Additional Insights - The origination product integrates proprietary data with public data and partner data, enhancing deal sourcing capabilities [33][58] - Recent trends indicate a shift towards roll-ups in various industries, including accounting, which presents new investment opportunities [35] - The dataset used for origination is not limited to the US; it includes data from Europe and Asia as well [50] Future Directions - The origination functionality has already been launched and is available to clients with Intapp Assist [64] - Plans to expand the use cases of origination beyond deal sourcing to include investment banking outreach and other phases of the investment cycle are in place [52][65] - The company emphasizes the importance of adopting AI to future-proof against competition and enhance operational efficiency [66][70] Conclusion - The discussion highlighted the transformative potential of AI in private capital markets, focusing on maximizing returns and minimizing risks through innovative solutions [72][74] - The webinar concluded with a positive outlook on the intersection of private capital and AI, emphasizing the ongoing evolution in the sector [74]