Intapp(US:INTA)2025-11-04 21:16Financial Performance - Total revenues for the three months ended September 30, 2025, were $139.027 million, a 17.0% increase from $118.805 million in the same period of 2024[16] - SaaS revenues increased to $97.524 million, up 27.0% from $76.876 million year-over-year[16] - The net loss for the three months ended September 30, 2025, was $14.353 million, compared to a net loss of $4.520 million in the same period of 2024[16] - Operating loss for the quarter was $14.455 million, an increase from the operating loss of $7.254 million in the prior year[16] - The company reported a comprehensive loss of $13.723 million for the three months ended September 30, 2025, compared to a comprehensive loss of $4.025 million in the prior year[19] - For the three months ended September 30, 2025, total revenues increased to $139.03 million, up 17.0% from $118.81 million in the same period of 2024[41] - The net loss for the three months ended September 30, 2025, was $14.35 million, compared to a net loss of $4.52 million in the same period of 2024[24] - Cash provided by operating activities was $13.80 million, a decrease of 43.5% from $24.45 million in the prior year[24] Expenses - Research and development expenses increased to $40.934 million, up from $32.427 million year-over-year[16] - Sales and marketing expenses rose to $48.786 million, compared to $37.760 million in the same quarter of 2024[16] - The Company reported stock-based compensation of $27.29 million for the three months ended September 30, 2025, compared to $19.99 million in the same period of 2024, reflecting a 36.5% increase[24] - Total stock-based compensation expense for the three months ended September 30, 2025, was $27,287,000, up from $19,989,000 in the same period of 2024, indicating a year-over-year increase of approximately 36.5%[72] Cash and Assets - Cash and cash equivalents decreased to $273.437 million as of September 30, 2025, down from $313.109 million as of June 30, 2025[14] - Total assets as of September 30, 2025, were $823.261 million, a decrease from $894.161 million as of June 30, 2025[14] - Total stockholders' equity decreased to $486.361 million as of September 30, 2025, from $519.765 million as of June 30, 2025[14] - Cash, cash equivalents, and restricted cash at the end of the period totaled $273.64 million, down from $254.05 million at the end of the same period in 2024[24] - As of September 30, 2025, the company had cash and cash equivalents of $273.4 million, held with multiple high credit quality financial institutions[155] Revenue and Client Information - U.S. revenues for the three months ended September 30, 2025, were $97.01 million, representing a 23.4% increase from $78.57 million in 2024[41] - No client accounted for 10% or more of the Company's revenues for the three months ended September 30, 2025, and 2024[36] - The Company operates in one reportable segment, focusing on AI-powered solutions for various professional services firms[33] Investments and Liabilities - The Company incurred $5.85 million in net cash used in investing activities, compared to $2.79 million in the same period of 2024[24] - Deferred commissions were $35.9 million as of September 30, 2025, compared to $36.4 million as of June 30, 2025[42] - Unbilled accounts receivable decreased to $17.7 million as of September 30, 2025, from $19.5 million as of June 30, 2025[43] - Deferred revenue, net, was $239.2 million as of September 30, 2025, down from $259.0 million as of June 30, 2025[43] - The company recorded a contingent consideration liability of $0.5 million as of September 30, 2025, related to the acquisition of Paragon Data Labs, Inc.[53] - Current operating lease liabilities increased from $6.5 million as of June 30, 2025, to $7.6 million as of September 30, 2025[59] - The company had no outstanding borrowings under the JPMorgan Credit Facility as of September 30, 2025, maintaining compliance with all covenants[67] Strategic Initiatives and Future Outlook - The company expects to recognize approximately $715.2 million from remaining performance obligations, with about 55% expected to be recognized over the next 12 months[45] - The company has not experienced any material losses related to non-payment of receivables during the three months ended September 30, 2025, indicating stable credit risk management[152] - The company has not engaged in hedging foreign currency transactions to date, although it may consider doing so in the future due to exposure to foreign currency exchange risk[151] - The stock repurchase program authorized by the Board of Directors on August 7, 2025, allows for discretionary purchases without an expiration date[79] - The company reported that inflation has not had a material effect on its business, but it remains cautious about potential future inflationary pressures[153] Other Financial Metrics - The weighted-average number of shares used to compute net loss per share increased to 81,878 thousand in 2025 from 75,604 thousand in 2024[78] - The total intrinsic value of stock options exercised during the three months ended September 30, 2025, was $11.8 million[70] - The company repurchased approximately 1.1 million shares of its common stock for $50.0 million during the three months ended September 30, 2025, leaving $100.0 million available for future repurchases[80] - The company has $221.9 million of unrecognized compensation cost related to unvested stock-based awards as of September 30, 2025, expected to be recognized over approximately 2.6 years[72] Impairments and Amortization - The company recorded impairment charges of $1.4 million related to its digital transformation initiative during the three months ended September 30, 2025, compared to no impairment charges in the same period of 2024[58] - Amortization expense related to acquired intangible assets totaled $2.9 million for the three months ended September 30, 2025[49] Goodwill and Intangible Assets - Goodwill decreased to $326.1 million as of September 30, 2025, from $326.3 million as of June 30, 2025[48] - Total intangible assets, net, were $37.8 million as of September 30, 2025, compared to $40.7 million as of June 30, 2025[49] - Capitalized internal-use software costs increased to $33.6 million as of September 30, 2025, from $31.6 million as of June 30, 2025[57] - Capitalized cloud computing implementation costs decreased from $7,599,000 as of June 30, 2025, to $7,067,000 as of September 30, 2025, reflecting a reduction of approximately 7%[58] - Strategic investments increased to $5.0 million as of September 30, 2025, from $2.0 million as of June 30, 2025[56]