Intapp Inc
NASDAQ:INTA
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Intapp Inc
Intapp Inc. began its journey in the intricate world of professional and financial services, carving out a niche for itself by addressing the unique needs of firms specializing in law, accounting, investment banking, and consulting. Recognizing the complexities and compliance issues these sectors face, Intapp provides a suite of software solutions designed to streamline operations, enhance collaboration, and ensure adherence to regulatory requirements. Their flagship products include tools for intake management, timekeeping, and business acceptance, all connected through a robust cloud-based platform. By tailoring its software to fit the specific demands of professional service workflows, Intapp enables its clients to improve efficiency and ensure that critical tasks are managed smoothly, from client onboarding to engagements.
Intapp's business model thrives on the SaaS (Software as a Service) paradigm, generating steady revenue through recurring subscriptions. This model not only provides the company with a predictable income stream but also allows continual updates and seamless integration improvements for their clients. Furthermore, through strategic acquisitions and partnerships, Intapp has expanded its offerings to add data-driven insights and advanced AI capabilities, further enriching the decision-making processes for its clients. This synergistic approach positions Intapp as a critical partner for firms navigating the evolving landscapes of compliance, risk management, and operational excellence, ensuring that they stay competitive while adhering to industry regulations.
Intapp Inc. began its journey in the intricate world of professional and financial services, carving out a niche for itself by addressing the unique needs of firms specializing in law, accounting, investment banking, and consulting. Recognizing the complexities and compliance issues these sectors face, Intapp provides a suite of software solutions designed to streamline operations, enhance collaboration, and ensure adherence to regulatory requirements. Their flagship products include tools for intake management, timekeeping, and business acceptance, all connected through a robust cloud-based platform. By tailoring its software to fit the specific demands of professional service workflows, Intapp enables its clients to improve efficiency and ensure that critical tasks are managed smoothly, from client onboarding to engagements.
Intapp's business model thrives on the SaaS (Software as a Service) paradigm, generating steady revenue through recurring subscriptions. This model not only provides the company with a predictable income stream but also allows continual updates and seamless integration improvements for their clients. Furthermore, through strategic acquisitions and partnerships, Intapp has expanded its offerings to add data-driven insights and advanced AI capabilities, further enriching the decision-making processes for its clients. This synergistic approach positions Intapp as a critical partner for firms navigating the evolving landscapes of compliance, risk management, and operational excellence, ensuring that they stay competitive while adhering to industry regulations.
Cloud Growth: Cloud ARR reached $401 million, up 30% year-over-year, now representing 80% of total ARR.
SaaS Revenue: SaaS revenue was $97.5 million for the quarter, up 27% year-over-year, with SaaS now 70% of total revenue.
Total Revenue: Total revenue was $139 million, up 17% year-over-year, driven primarily by strong cloud demand.
Profitability: Operating income and margins improved, with non-GAAP operating income of $20.9 million and non-GAAP gross margin rising to 77.7%.
AI & Product Innovation: New AI features, particularly GenAI in products like Intapp Time, drove strong customer interest and adoption.
Partnerships: The Microsoft partnership was a key growth driver, supporting several of the largest deals and facilitating cloud migrations.
Guidance Raised: Management raised full-year and Q2 guidance for SaaS and total revenue, though noted the outlook remains prudent.
Client Expansion: Net revenue retention rose to 121%, with strong upsell and cross-sell activity, especially within enterprise accounts.
