Intapp(US:INTA)2025-02-04 21:07Revenue Growth - Second quarter SaaS revenue reached $80.0 million, representing a 27% year-over-year increase[4] - Total revenue for the second quarter was $121.2 million, a 17% year-over-year increase[5] - Cloud annual recurring revenue (ARR) was $331.1 million, up 29% year-over-year, accounting for 76% of total ARR[5] - Total ARR increased to $437.1 million, reflecting a 20% year-over-year growth[5] - Total revenues for the three months ended December 31, 2024, increased to $121.2 million, up 16.5% from $103.9 million in the same period of 2023[27] - SaaS revenues reached $80.0 million for the three months ended December 31, 2024, representing a 26.7% increase compared to $63.1 million in the prior year[27] Profitability - Non-GAAP operating income for the second quarter was $18.9 million, compared to $7.6 million in the same quarter last year[5] - Non-GAAP net income was $17.4 million, up from $8.8 million year-over-year[5] - Non-GAAP gross profit for the three months ended December 31, 2024, was $93.0 million, reflecting a gross margin of 76.7%[32] - Non-GAAP operating income for Q4 2024 was $18,925 million, compared to $7,606 million in Q4 2023, reflecting a significant increase of 148.5%[34] - Non-GAAP net income for Q4 2024 reached $17,405 million, up from $8,765 million in Q4 2023, marking a 98.5% increase[35] - Free cash flow for Q4 2024 was $25,177 million, compared to $11,822 million in Q4 2023, indicating a growth of 113.5%[37] Expenses - Operating expenses for the three months ended December 31, 2024, totaled $98.9 million, an increase of 17.5% from $84.2 million in the same period of 2023[27] - GAAP research and development expenses increased to $33,325 million in Q4 2024 from $27,981 million in Q4 2023, representing a 19.3% increase[33] - Non-GAAP sales and marketing expenses rose to $32,291 million in Q4 2024 from $28,985 million in Q4 2023, a 7.5% increase[33] - Non-GAAP general and administrative expenses decreased slightly to $15,374 million in Q4 2024 from $16,133 million in Q4 2023, a decline of 4.7%[33] Cash and Assets - Cash and cash equivalents stood at $285.6 million as of December 31, 2024, up from $208.4 million as of June 30, 2024[8] - Total assets grew to $800.6 million as of December 31, 2024, compared to $733.0 million as of June 30, 2024[29] - The company reported net cash provided by operating activities of $25.2 million for the three months ended December 31, 2024, compared to $12.0 million in the same period of 2023[31] - The company reported net cash provided by operating activities of $25,239 million for Q4 2024, compared to $12,035 million in Q4 2023, a 109.9% increase[37] Guidance - The company expects third quarter SaaS revenue guidance of $84.0 - $85.0 million[9] - Total revenue guidance for the fiscal year 2025 is projected to be between $498.5 - $502.5 million[9] Deferred Revenue - Deferred revenue, net, increased to $235.0 million as of December 31, 2024, compared to $218.9 million as of June 30, 2024[29] Net Loss - The net loss for the three months ended December 31, 2024, was $10.2 million, compared to a net loss of $9.2 million in the same period of 2023[27] - GAAP net loss per share for Q4 2024 was $(0.13), consistent with $(0.13) in Q4 2023, while non-GAAP net income per share increased to $0.21 from $0.11[35] - Total GAAP operating loss for the first half of 2024 was $(17,440) million, an improvement from $(25,047) million in the same period of 2023[34] Methodology Change - The company adjusted its free cash flow calculation methodology starting Q2 2024 to exclude capitalized internal-use software costs and cash paid for interest, aligning with industry standards[38]