Intapp Announces Fourth Quarter and Fiscal Year 2024 Financial Results

Core Insights - Intapp, Inc. reported strong financial results for the fourth quarter and fiscal year ended June 30, 2024, highlighting significant growth in revenue and cloud annual recurring revenue (ARR) driven by the adoption of AI solutions [1][2][3] Financial Highlights - Fourth quarter SaaS and support revenue reached $85.0 million, a 25% increase year-over-year [2] - Total revenue for the fourth quarter was $114.4 million, reflecting a 21% year-over-year growth [2] - Cloud ARR stood at $296.7 million as of June 30, 2024, marking a 33% increase year-over-year and representing 73% of total ARR [2] - Total ARR was $404.2 million as of June 30, 2024, a 22% increase year-over-year [2] - GAAP operating income was $0.3 million, a significant improvement from a loss of $(12.4) million in the same quarter last year [2] - Non-GAAP operating income for the fourth quarter was $13.5 million, up from $3.0 million year-over-year [2] Fiscal Year 2024 Overview - For the fiscal year 2024, SaaS and support revenue totaled $316.0 million, a 25% increase compared to fiscal year 2023 [3] - Total revenue for the fiscal year was $430.5 million, a 23% increase year-over-year [3] - GAAP net loss for the fiscal year was $(32.0) million, improved from $(69.4) million in fiscal year 2023 [3] - Non-GAAP net income for the fiscal year was $36.4 million, compared to $8.3 million in the previous year [3] Balance Sheet and Cash Flow - Cash and cash equivalents were $208.4 million as of June 30, 2024, up from $130.4 million a year earlier [4] - Cash provided by operating activities for the fiscal year was $67.2 million, compared to $27.5 million in the previous year [5] Business Highlights - As of June 30, 2024, Intapp served over 2,550 clients, with 698 clients having contracts greater than $100,000 of ARR [6] - The company achieved a net revenue retention rate of 116% as of June 30, 2024 [6] - Intapp expanded its client base and partnerships, including notable law firms and private equity firms [6] - The company acquired Transform Data International to enhance its Microsoft 365-based capabilities [6] Outlook for Fiscal Year 2025 - The company provided guidance for the first quarter of fiscal year 2025, projecting SaaS revenue between $75.3 million and $76.3 million [7] - Total revenue for fiscal year 2025 is expected to be between $493.0 million and $497.0 million [7] - Non-GAAP diluted net income per share is projected to be between $0.59 and $0.63 for fiscal year 2025 [7]