Financial Data and Key Metrics Changes - In Q1, cloud annual recurring revenue (ARR) grew to $401 million, up 30% year-over-year, representing 80% of total ARR of $504 million [4][16] - SaaS revenue reached $98 million, up 27% year-over-year, while total revenue was $139 million, up 17% year-over-year [4][17] - Non-GAAP gross margin improved to 77.7%, up from 76.3% a year ago, reflecting cloud efficiency gains [19] - Non-GAAP operating income increased to $20.9 million from $15.1 million in Q1 of the previous year [19] - Free cash flow for the quarter was $13.2 million, with cash and cash equivalents at $273.4 million [19] Business Line Data and Key Metrics Changes - SaaS now contributes 70% of total revenue, up more than five points year-over-year [17] - License revenue totaled $29.2 million, up 2% year-over-year, while professional services revenue decreased by 8% year-over-year to $12.3 million [17] - The company saw strong demand for cloud solutions, driving total revenue growth [17] Market Data and Key Metrics Changes - The company reported a cloud net revenue retention rate of 121%, indicating strong retention and upsell among existing cloud clients [20] - The number of clients with ARR of at least $100,000 increased to 813, up from 707 in the previous year [20] - Total remaining performance obligations (RPO) reached $715.2 million, up 30% year-over-year [19] Company Strategy and Development Direction - The company is focused on expanding its vertical AI capabilities and cloud adoption, leveraging partnerships, particularly with Microsoft [4][9] - The strategy includes enhancing compliance capabilities and integrating AI into workflows to differentiate from competitors [6][31] - The company aims to drive AI, cloud adoption, and modernization across all industries served, with a focus on enterprise-class firms [15][62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth opportunities, citing strong demand for cloud solutions and AI capabilities [15][16] - The company is navigating macro trends such as digitalization and compliance-driven demand, which are expected to support sustained, profitable growth [16] - Guidance for Q2 fiscal 2026 includes SaaS revenue between $100 million and $101 million, with total revenue expected in the range of $137.6 million to $138.6 million [20][21] Other Important Information - The company authorized a $150 million share repurchase program, repurchasing $50 million in Q1 [18] - The partner ecosystem is seen as a critical component for long-term cloud growth, with co-sell growth remaining strong [18] Q&A Session Summary Question: What drove the net revenue retention of 121%? - Management attributed the retention to successful upsell and cross-sell efforts, along with low churn rates and strong product adoption [24][26] Question: How is GenAI impacting client behavior? - Management noted that clients are experimenting with various AI tools and are excited about the potential ROI from GenAI, which is driving interest in cloud migration [28][30][32] Question: How much of the ARR acceleration is due to industry-specific changes? - Management indicated that trends such as consolidation in law firms and private equity investments in accounting firms are contributing to ARR growth, alongside macro tailwinds [35][36] Question: What are the common reasons for clients remaining on-premise? - Management highlighted regulatory concerns and the need for trusted partners as key reasons, but noted that AI is capturing attention and could accelerate cloud adoption [41][42] Question: What is the international opportunity for the company? - Management stated that about 30% of business is international, with growth opportunities in regions like Europe and Latin America, supported by partnerships [66][68] Question: What are the key execution levers for reaching the billion-dollar revenue milestone? - Management emphasized the importance of client success, cross-sell and upsell opportunities, and continued innovation as critical factors for growth [60][62]

Financial Data and Key Metrics Changes - In Q1, cloud annual recurring revenue (ARR) grew to $401 million, up 30% year over year, representing 80% of total ARR of $504 million [4][16] - SaaS revenue was $98 million, up 27% year over year, while total revenue reached $139 million, up 17% year over year [4][17] - Non-GAAP gross margin improved to 77.7%, up from 76.3% a year ago, reflecting cloud efficiency gains [19] - Non-GAAP operating income increased to $20.9 million from $15.1 million in Q1 of the previous year [19] - Free cash flow for the quarter was $13.2 million, with cash and cash equivalents at $273.4 million [19] Business Line Data and Key Metrics Changes - SaaS now contributes 70% of total revenue, up more than five points year over year [17] - License revenue totaled $29.2 million, up 2% year over year, while professional services revenue decreased by 8% to $12.3 million [17] - The company saw strong demand for cloud solutions, with notable growth in client acquisitions and contract expansions [17][19] Market Data and Key Metrics Changes - The company reported a cloud net revenue retention rate of 121%, indicating strong retention and upsell among existing cloud clients [20] - The number of clients with ARR of at least $100,000 increased to 813, up from 707 in the previous year [20] - Total remaining performance obligations (RPO) reached $715.2 million, up 30% year over year [19] Company Strategy and Development Direction - The company is focused on expanding its vertical AI capabilities and cloud adoption, leveraging partnerships, particularly with Microsoft [4][9] - The strategy includes enhancing compliance capabilities and integrating AI into workflows to differentiate from competitors [6][30] - The company aims to drive growth through new client acquisitions and expanding existing client relationships, particularly in the legal and financial services sectors [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth opportunities, driven by digitalization, cloud adoption, and compliance demand [16][21] - The company anticipates SaaS revenue between $412 million and $416 million for the full fiscal year 2026, with total revenue expected between $569.3 million and $573.3 million [21] - Management highlighted the importance of maintaining a prudent approach to guidance while capitalizing on market trends [38] Other Important Information - The company announced a $150 million share repurchase program, with $50 million repurchased in the first quarter [18] - The partner ecosystem is seen as a critical component for driving long-term cloud growth and client satisfaction [18] Q&A Session Summary Question: What drove the net revenue retention of 121%? - Management attributed the retention to successful upsell and cross-sell efforts, along with low churn rates and strong product adoption [24][26] Question: How is GenAI impacting client behavior? - Management noted that clients are experimenting with various AI tools and are excited about the potential ROI from AI integration [28][30] Question: How much of the ARR acceleration is due to industry-specific changes? - Management indicated that trends such as market consolidation in legal and private equity investments in accounting are contributing to growth [35][36] Question: What are the common reasons for clients remaining on-premise? - Management highlighted regulatory concerns and the need for trusted partners to navigate compliance issues as key factors [41][44] Question: How is the Microsoft partnership influencing deal dynamics? - The partnership has enhanced co-selling opportunities, accelerated deal sizes, and improved win rates due to integrated marketing and technology collaboration [76][80]

Financial Data and Key Metrics Changes - In Q1, cloud annual recurring revenue (ARR) grew to $401 million, up 30% year over year, representing 80% of total ARR of $504 million [4][15] - SaaS revenue was $98 million, up 27% year over year, while total revenue reached $139 million, up 17% year over year [4][16] - Non-GAAP gross margin improved to 77.7%, up from 76.3% a year ago, reflecting cloud efficiency gains [18] - Non-GAAP operating income increased to $20.9 million from $15.1 million in Q1 of the previous year [18] - Free cash flow for the quarter was $13.2 million, with cash and cash equivalents at $273.4 million [18] Business Line Data and Key Metrics Changes - SaaS now contributes 70% of total revenue, up more than five points year over year [16] - License revenue totaled $29.2 million, up 2% year over year, while professional services revenue decreased by 8% year over year to $12.3 million [16] - The company saw strong demand for cloud solutions, driving total revenue growth [16] Market Data and Key Metrics Changes - The company reported a cloud net revenue retention rate of 121%, indicating strong retention and upsell among existing cloud clients [19] - The number of clients with ARR of at least $100,000 increased to 813, up from 707 in the previous year [19] Company Strategy and Development Direction - The company is focused on expanding its vertical AI capabilities and cloud adoption, leveraging partnerships, particularly with Microsoft, to drive growth [4][8] - The strategy includes enhancing compliance capabilities and integrating AI into workflows to differentiate from competitors [5][25] - The company aims to capitalize on macro trends such as digitalization and compliance-driven demand [15][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth opportunities, citing strong performance in Q1 and the potential for further client expansion [14][15] - The company anticipates SaaS revenue for Q2 to be between $100-$101 million, with total revenue expected in the range of $137.6-$138.6 million [19][20] - Management highlighted the importance of maintaining a prudent approach to guidance while focusing on cloud and SaaS growth [30] Other Important Information - The company authorized a $150 million share repurchase program, repurchasing $50 million worth of shares in Q1 [16][17] - The partner ecosystem continues to play a crucial role in driving growth, with co-sell activities showing strong year-over-year growth [17] Q&A Session Summary Question: What drove the net revenue retention of 121%? - Management attributed the retention to successful upsell and cross-sell activities, as well as a low churn rate [21][22] Question: How is GenAI impacting client behavior? - Management noted that clients are exploring various AI tools, and there is a strong belief in the potential of GenAI to enhance operations [23][24] Question: How much of the ARR acceleration is due to industry-specific changes? - Management indicated that trends in legal and accounting sectors, along with macroeconomic factors, are contributing to the growth [27][28] Question: Is the guidance conservative given the strong ARR? - Management emphasized a prudent approach to guidance, considering various moving parts in the business [30] Question: What are the common reasons for clients remaining on-premise? - Management highlighted regulatory concerns and the need for trusted partners to navigate compliance issues as key factors [31][32] Question: How is the Microsoft partnership influencing deal dynamics? - Management described the partnership as enhancing deal size, speed, and win rates through co-selling and marketing efforts [50][51]

Financial Performance - Intapp's total Annual Recurring Revenue (ARR) reached $504.1 million in Q1 FY26 [87, 93] - Cloud ARR grew by 30% year-over-year in Q1 FY26 [87, 93] - Cloud Net Revenue Retention Rate (NRR) was 121% as of Q1 FY26 [87, 17] - The company had 813 clients with over $100,000 ARR [87, 15] - Non-GAAP operating margin was 15% in Q1 FY26 [87, 109] Growth Strategy - Intapp is focused on expanding its offerings through new solutions, geographies, and client sub-verticals [10, 32, 37] - The company aims to accelerate its ecosystem through acquisitions and partnerships [10, 42, 47] - Cloud migration is a key driver for current and future growth [10, 23] Cloud Transition - 80% of Intapp's ARR was cloud-based in Q1 FY26, up from 69% two years prior [26] - 93% of Intapp's clients have some portion of their business in the cloud [26] Market Opportunity - Intapp operates in a growing multi-billion dollar addressable market, estimated at approximately $31 billion [78, 79] Client Base - Intapp serves 2,750 clients as of September 30, 2025 [15, 81]

Core Insights - Colin Biggers & Paisley, a leading Australian law firm, has selected Intapp Time to modernize its timekeeping practices, aiming to enhance efficiency and client outcomes [1][2] - The adoption of Intapp Time aligns with the firm's strategy to leverage innovative technology for improved operational efficiency and compliance in the legal market [2][4] Company Strategy - The firm prioritized replacing its legacy timekeeping solution with a cloud-based system to enhance operational efficiency [2][3] - The goal is to provide lawyers with technology that saves time and allows them to focus on high-value client work [3] Technology Features - Intapp Time offers AI-powered data capture, enabling lawyers to record time more accurately and improve efficiency [3][4] - The solution includes configurable templates, seamless integrations with financial systems, and flexible timekeeping methods to simplify processes and increase accuracy [4] Benefits - The modernized timekeeping approach is expected to streamline billing processes, reduce disputes, and enhance client satisfaction, ultimately increasing the firm's revenue [5] - Advanced reporting and dashboards will assist firm leaders in evaluating resources and tracking time against budgets to optimize utilization and profitability [5]