INTA - Earnings call transcript Q1 2022

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Operator

Hello. Thank you for standing by, and welcome to the Intapp First Quarter Fiscal Year 2022 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Barry Hutton. Please go ahead.

Barry Hutton

everyone. Hello, Hutton, the Barry Group. Director Managing am Blueshirt of I XXXX Quarter Call. Welcome First Year Earnings to Intapp's Fiscal Conference With me today and Steve are John Hall, the Chief CEO company's Financial Officer. Robertson, of Intapp;

may other of expectations, assumptions conference strategies course entail the of are the our publicly to subject various certain can as forward-looking and SEC are performance related made or is filings today's Further, forward-looking in the reconciliation economic business. be anticipated with on and prior certain found statements in current results. With based our industry the documents, During on and and of call, we management's date regarding today's to update global revise John. make to available X-K uncertainties the this risks to those in also believe discuss trends, financial over this exhibit GAAP that, Intapp financial the any to including the call, an COVID-XX metrics, will These understanding website statements furnished described of our as and forward-looking SEC conditions. conversation metrics views impacts and our disclaims services on which we call. which the A Form comparable non-GAAP on available aid obligation hand statements. we to I'll today's our any earnings of to release and business,

John Hall

the and provided provided industry. AI-powered ended and June. our first solutions. which overview all and conference an everybody. I founder-led professional their unique time, XX. you completed, team afternoon, Barry. At services through for revenue our our we us will reported to services market to In our our outlined client Today, very mission for our model Thanks an software IPO opportunity, our enable financial We September fiscal strategy, data our connect industry in Good cloud Intapp's people, which you. we recurring of our that processes base, of call after public year, quarter, and Thank was our solid targeting financial ended vertical today. results joining and professional much, global we overview held first firms with call, solution, Shortly technology better that fiscal discuss our

we quarter, target with from see plan executed path and our consistency. business strong excellent to our along This serve We start made a had continued fiscal good our our demand to our to and better markets, we progress clients. year, we

our represents grew of -- million. reach XX% our Our XX% In That to million. which which total grew $XXX cloud-based foundation is cloud ARR, by offering $XXX to recurring now the XX% QX, of ARR XX% we and in more we earned firms $XX.X and serve up total than more XX% revenue million, now million, year-over-year; $XX.X support premier of year-over-year. revenue of And countries. X,XXX than XX SaaS up

execute clear it's go-to-market, that strategy our As cloud working. we our is

and is into needs. to order whole, technology. they markets of solutions business deeper to very professional Firms provide our so that preferring share serve a for that to clients. need exceptional unique specifically including industry are the and positioned take reasons, their model. are They're that from the financial uniquely their the why strategies Intapp now in their cloud-first to many traditional I common as serve doing require to purpose-built needs services experiences the Today, moving On clients offerings their cloud-based for dive in corporation. own, are acquire best clients, firms the differentiated for our we different their want In clients new target meet

with model. fields tried the multiple the product-centric to made from in of many technology, low-code experience that ERP experienced and differentiate history knowledge-based or teams. every firms their by be portfolio each working of a environments partner-led, or has up their for complexity their applying as depth That experience-oriented to of professionals. the widgets. or BXB as across use with practitioners fund finance, They're these that for resulted built a making been professional are This technology our knowledge and to together of service firms collaborative for experience firms organizations. do specific expertise our are understanding model the have company, core, expertise: organized model XX the to conflict business. and specific, but industry newly to use enable Traditional is require across teams contrast, develop clients and purpose-built was business system, very are by opportunity, capitalizing in type for experience of previous But investment and systems the successful of teams with business with knowledge-oriented leveraging issues totally working always CRM public oriented professionals their as which, professional relatively AI user graph specific, traditional partnership expert cases very built these serve knowledge deal. clients professional implement lines, to we areas and these transactions, designed identifying compliance These platform and match participate ERP across this firms of cloud the applied partnerships of XX of identifying strategy this to ability private team its set advisory credit, of by modern that specifically intellectual with firms expertise. to and commercial CRM a and complex Our and emerging a operate to and both and gap To selling from and company years. cases our well in professionals as restructuring the our multi-strategy M&A them. Today, expertise layer global Intapp area firms designed of our a Their company, deals, a win designed industry on expertise. areas and as years our focused Over litigation has data also portfolio, and the and to and property at as low areas not on as network each formation, arise financial intended services solutions systems user adoption aren't regulated of that over experience on bootstrap private like address relationships, client estate for configurable financial practice new in and corporate software unique in significant protection selling firm firms hinges different and who In economy. traditional of real way unique individual their many knowledge-based the their

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Okay.

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are compliance as whole. our clients in workflow the directly this embed critical a professional for for that industry Solutions and capabilities

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transformation the accelerates. overall and embrace move move as core In to we see the business these as cloud winning markets Our growth our to continue particularly the that and strong attractive to continue in we momentum reason in their markets cloud. cloud is unique our to firms in continue history, positioned are digital ARR highly to so experience vertical understanding business with growing these summary, well strong and and

investments significantly our serve platform. aided go-to-market to this we by to the through and cloud their in We our lead the We will purpose-built believe in making our are needed industries products our move clients business transformation. that be the

our clients' a more solutions Finally, forward, our and more integrated increasingly business and integral partner. making strategy operations, rolls as strategic long-term our land-and-expand into Intapp critical, become and

it in building with to more us to a our you for reliable sticky, turn growth our as over base to CFO, I'll a our over revenue a strategy. quarter's you. provide Robertson, are about opportunity performance. We details Steve, differentiated we Steve execute large some now market

Stephen Robertson

for us joining Thanks, everyone, John, and thanks, today.

like I to financial few go I'd Before through the a quickly our fundamentals review model. numbers, of

cloud our of consistent As solutions. makes annual our solutions, our customer We adopting are and wins firms good Today, XX% the financial and John are discussed, recurring we that approximately ARR nearly all software rapidly of total cloud revenue of professional up serve are growth XX% believe revenue. new the purpose-built and for of metrics to recurring cloud total ARR indicators business.

first quarter grew cloud total and ARR our our XX% fiscal the year-over-year. 'XX, John grew ARR year-over-year, of mentioned, as For XX%

ratably revenue, recognition, our contrast, terms episodically as generally On-premises revenue, of subscription revenue it revenue predictable in is In or upfront time recognized Because recognized renewal. at will of as a XX% be or and because renewal; revenue sale subscription SaaS recognized more are is renewed. the the quarter-to-quarter subscription in new or support XX% and vary license Cloud X recognized included ratably can is is quarter-to-quarter. and ARR when support as sale SaaS support parts: it following ratably, delivered SaaS licenses In ARR revenue initially and as recognized line. revenue license the revenue recognized

Okay.

to XX% solutions by up revenue. as by support XX% Moving million, as up year-over-year, quarter revenue our $XX.X $XX.X professional was professionals. was subscription $XX of trend solid and follows. on. growth revenue for was our SaaS renewals in reflecting as of million purpose-built QX strong and period, increased ongoing Total Intapp's a sales those million, $XX.X marketplace in cloud of cloud as revenue year-over-year, primarily million prior solutions license business. Subscription sale driven services in compared was of year license well the solutions on-premises the adopting the reflecting specifically

quarter million year compared compared of noted reflecting in normalized new item as As to year a software to on line this a prior as to basis. market $X.X period, the $X our as revenue is in and somewhat that which clients our trailing our XXX%. prior rate period. range quarterly expected XX our revenue implementations to of execute ended services model COVID-influenced million X,XXX revenue XXX% was XXX ARR to more continue land-and-expand than was more retention net such variable Professional more the we months' than earlier, of we Overall, $XXX,XXX, be have clients, of upsold the with expected above we

Before results will non-GAAP I going please forward. discussing expenses and that gross discussing note margins, profitability, be

results, and release financial financial GAAP our found reminder, with be and a a supplemental our reconciliation between in results tables. along its As non-GAAP can press earnings GAAP

from a margin and revenue modestly as support XX.X% $XX.X shift lower million on slight company. margin become incurred our was year gross million, was down the increase margin Operating year-over-year. a product solutions reflecting expenses XX.X%, in Gross period, were quarter, to to period. invested we first in in a services expenses publicly slightly current mix year-over-year traded to the up professional required marketing $XX.X our revenue For prior recurring sales, growth and development the

a in new to million, commission first $X.X R&D function quarter business the G&A our we of invested for million increased expense and our business road as product in marketing growing our year-over-year count markets. head capture in a invested investments and a Non-GAAP a our performance a impact expenses new preferred public operating becoming sales fiscal compared share profit expenses increase in the year-over-year in of million capture the the $X.X count. first of manage quarter as of those million result million our $XX.X on was as year-over-year of as $XX.X the $X.X 'XX, markets. in loss a operating first year-over-year to marketing revenue compared in quarter as growing cumulative share portion first just to discussed. in a increase expenses COVID fiscal We quarter in million, reflecting quarter quarter map. $X.X the an $X.X interest primarily as a fiscal was of of to well of weighted per dividends million, the accrued expense pandemic. first was were increased was expenses Non-GAAP increase the As company. increase are $XX.X a million, average the reminder, comparison reflecting of Sales was in to and 'XX, increased fiscal related constrained loss primarily head uncertainty of at the $X.XX the count loss time and $X.XX which for and in operating reduction pre-IPO as year-over-year, 'XX of a to expense to net increase

the balance of Turning the in the both sheet. decreased current fiscal quarter We million $XX.X an $XX.X cash with ended collections the and from million, equivalents, of receivable particularly our Accounts and fourth seasonality cash by quarter. $XX.X increase the reflecting first quarter in 'XX. million billings to strong of

X Our was pay debt use reduced to as our from it to the off. IPO proceeds we

Turning now to our guidance.

while results, unchanged Given continued to growth our are for invest of guidance opportunities revenue profitability our the 'XX strong QX relatively our FY in leaving we see as guidance we FY raising 'XX the business.

million. second revenue revenue the million expect of range the $XX between million For $XX and we $XX in total support $XX and million of of fiscal 'XX, quarter to SaaS and

using of of basic $X expect the We billion range $X.XX non-GAAP of loss shares XX billion and share a the outstanding. count non-GAAP to range share a approximately common net $X.XX, $X in per loss a million to operating in

expect fiscal $XXX to revenue year and and million. and 'XX, $XXX of million of $XXX between full SaaS $XXX the revenue total range we support the For in million million

to million share loss weighted 'XX and basic count to per non-GAAP operating of the also With $XX a shares We your share that, million million $XX and forward non-GAAP of look for to the range XX in $X.XX, using year approximately outstanding. a common in range John fiscal taking a I $X.XX of loss net questions. expect

Operator

[Operator Instructions].

Koji Ikeda Our of America. comes first from question Bank with

Koji Ikeda

commentary you this this was wondering legacy? little Steve. cloud And cloud about talk John bigger pretty year-over-year. net hit or I logos of logos? could to mean could maybe good quarter, sort unpack nice revenue of Is coming wanted I there. Really, And growth bit. Really good a growth it Is where it's that from. from? it from any where if lot of that XX% here, and side really really growth the qualitative on conversion new spectacular new is on there, we I expansion was coming a the so

Stephen Robertson

Yes. from it little professional We think both to logo, sales, balanced our both clients honestly. across contribution fairly really upsell and quarter contribution pretty this Well, perhaps, And but was balanced. addition, the from new and fairly bit in new Koji, equal. board, had this more I only. cloud capability balanced logo new the A from a services pretty upselling financial services, cloud quarter

say, now particular, just momentum So in the really the business. right the I marketplace in reflecting across board, nothing whole than, other we're across the would seeing

Koji Ikeda

Is one John Got it's and that of aware flat guidance, this? it. then of Or like kind for on could puts here. help midpoint with Got it. on-prem for some Steve, us related midpoint, support else follow-up takes the is there support the there. be QX. a model help here there the QX of revenue flat or would understand here, It essentially uniqueness be anything we you if looks about And causing causing I of XX.X% looking which Can guide. the at should the the be QX some the for at may, that SaaS and sort

Stephen Robertson

variable our Well, business is as on-premises said bit quarter-to-quarter. we've yes, little a before,

SaaS support guiding little from pulled up one we're the We've is to, we past bit SaaS have support here. guidance Our this and business a is small versus had quarter before might portion for a and of some support. in the

this of a honestly, that, you color forward. at have more point. think any feel And I we numbers trying good set that going give don't we're I about that So to on

Koji Ikeda

a great on Congrats quarter.

Stephen Robertson

you. Thank

John Hall

Thanks, Koji.

Operator

Credit comes with question next from Kevin McVeigh Our Suisse.

Kevin McVeigh

the G&A wonder expense investment coming on some is some overperformance, my well. I the of the of beyond cloud in if sales and amazing could And that of versus transition, where be Let there's broadly growth of sense of would give as from amount add me you to the congratulations going. just disaggregate versus could like incremental terms those stepped-up a us obviously, Because R&D it some maybe how be investments had where an marketing? you and seems much revenue of side. incremental

John Hall

strong, and of the obviously. one of think can is we want that you of to time want positioned focused a process. quarter. how do little to you that front I this And the that key marketing, be market advantage sales a bit talk pretty and we're is of to Steve, see areas to from So The make through color time proving things we sure that on opportunity add one demand been us. take lot any gone We about as the That's in we've did of about talking this in public we're Steve, to there? that. we've

Stephen Robertson

Yes.

I primarily, we'd investment. sales think and think highlight I marketing

fair We to the amount marketing going see. hired are we already expense a and And headcount -- were year. that adding fact, that in to of the in hire sales people the and we've for we momentum capture

to as So of we people of the productive, back start And middle of towards ramp expect up productivity fully they more quite the in and a the to become good going so marketplace. be to sort end the opportunities in the than It's folks, expensive the in forward. some those year And year. we've spend. of or we because bit of a of seen that's the part little here bit that hire QX do front-loaded

marketing. the quarter in there, and primarily opportunities took sales first in we here So

Kevin McVeigh

-- XXXX. picked lot balanced incremental obviously market overall coming down from? is job That sense. opposed sequentially mix, growth. terms And it of nice like of where client sense kind a as quarter the and as just is there since obviously, And professional? to makes between and the And XX a of then up Any pretty XXX you almost more Because client dynamic the over legal is client additions as seems well a mid? it it in the of

John Hall

so at there can that of Steve, good had good sizes the all firms doing things there in down We've a smaller, we've add the are chain. get are far. quarter. you and that? firm more are more you'd up But some to to so Obviously, been job those results

Stephen Robertson

with do more finance I tend think many, a reasonably we for medium many and on more we more I done in we've add Yes. logo a there's often larger firms more balanced but bit every new to where years. services services professional little across, new to services and large Fairly in opportunity upsell quarter. tend clients at in No, some mean than in it's little do business the financial there's the services sales balance balanced. bit in small, deals professional revenue And firms,

Kevin McVeigh

again. Congratulations

Stephen Robertson

you. Thank

Operator

Our next question comes Raymond from Brian Peterson with James.

Brian Peterson

Congrats on here. strong a quarter really

size market? So currently you real management market. you the us estate in potential you launched in And are opportunity. investment something replacing go that Maybe really when what help that in and customer win a

John Hall

categories universe. of also important the of one funds, X specialists A We're they're we've replacing several about. that real is talked in that they as firms the multi-strategy classic we an obviously estate estate strategies segment within capital models but to. So selling several are private across they're lot the think overseeing include we're investment real that where this

more for this style we've Salesforce, the solutions some very important try of generation necessarily the solutions, our not this period these we'll that done of with made on-premises to companies purpose-built business. in to And players, provide a And in-house it is folks. solutions large been have of of some to with for So lot that legacy advances But horizontal from time, relatively time compete have to AI like potential in the out some they undercapitalized more geographic cloud capabilities. their to analysis estate-oriented deal features do help and capabilities that build example, firms to in data and the go for real needs, particular, estate the more real segment opportunities might firm, as differentiated space. those And in a a our quite multi-strategy are capabilities, when -- firm from firm get a is or from you single CRM whether the of strategy what portfolio. platform, embedded traditional larger bringing platform types

Brian Peterson

like really in move you XXX% on about Okay. expectations guys of narrative hear could you XXX% Maybe Does recurring is It just just that they going the Like forward? Obviously, lot maybe on about range upsell came follow-up, to sounds a still quick Or that NRR. well. should the that of we going motion that think target? up? is we to outperforming a above great. The bogey that the investments. a XXX% That's just have XXX%.

Stephen Robertson

honest, talking we watch momentum. were to There's that to retention. do sustainable this that revenue be something possible see feels line. it's And look, that I pattern revisit net performance You're don't do want Yes, well we yes, might if to come to we we did think going we we're that, and here, very could the we good that. about, -- back but that pretty quarter, on a down there, the carefully. a quarter's better

Brian Peterson

to Nice gentlemen. hear. job, Good

John Hall

Thanks, Brian.

Operator

Our next with from Securities. Truist Terry comes Tillman question

Connor Passarella

Connor the curious, Passarella benefits both just quarter. services? you've financial is of for brand And the and are professional on congrats in resonating and To on IPO? awareness what Terry, that some since seen the you've kind customers with to This start, seen of been what's

John Hall

They a They of that companies also community more. scale more response to visibility might referral had clients very have working a They have an have little network We've good bit. on-premises to option. come a more can an little into of alternative The as the our that public our able to our into up visibility appreciate seen bit our with has and smaller as some as more been have they can the transition our get private scale. actually a position. are contrast organization. We company us

what of lot already doing. a there's folks think starting benefit talk to we're I to So about

in investing gives company as as about and that the them. markets our scale things confidence a which of that our And think long-term be them. excited an have and the for of partner positive, a as of secure independent to I to there flow cash stability one people feel an path important we're for access they is going a us also the is capital we organization, lot that them are

Steve, it's to has been do for to ahead add So the there's excited And I'm very us IPO about to very a company, the want obviously, long a far. you road what move. but anything? I done continue so grow positive think

Stephen Robertson

No, I think that's right.

that seeing, developed I think awareness because of is business. now the for on interest real have margin, we're people the the

Connor Passarella

Yes, a makes quick follow-up. as And sense. of that a just lot definitely then

curious business, particular So demand any been banks, pretty across you I'm forward coming maybe the that just law I affect demand if could of consulting segments or maybe you've balanced. a shift. firms, trends if firms, going has that the from emerging and any seen said cause different know sectors

John Hall

firms, from the we've one segment firms, about strong riding benefit with It's amount trend markets private that, very of of talked services positioned been along are that growing a doing area. the industry. The Well, how a providing we're segment. an secular growth advisory the well that as growth to a industry. is professional in has things capital But that to

our effect the that that excited that, about we're So pull whole has and business. on advisory

an happening it's exciting So given what's the time in world. wider

Operator

Schwartz question comes with Brian Oppenheimer. from next Our

Brian Schwartz

Real here, nice Steve. John to the year start and

say, how what's much that. the It's Just behind funnel? want from the John, to moving end throughout they're up you're filling the and cycles. at the markets? cycles momentum, is as is way Are bit compressing coming dive of of wave there their it computing getting into the just bats bookings faster, whether of funnel, more top digitization maybe out the little permeates your a through it's versus, the cloud

John Hall

we're an into did of lot a both. so say -- the when relative when back acceleration there's pause definitely to COVID would hit, that. I looking Yes, first these year There's COVID and firms yes, definitely

really of create of a better. that generally, along. years think together enabling to portion more operations informed forward trend, of improve of the and us firms digital IT-oriented priority city more flexibility to and fantastic the their a to environment broader be the a in allows are their part that whole work COVID the a set estate work doing and advantage having high And putting that, we're where coming that for to are I better the technology like that the firms own marketplace people of forces and and a are important take these in theme. investing transformation in traditional compete collaborate for more revised out of from and Many of ours I shifted work-from-home real more some A work industries to pulling at benefiting have approach some their of own trend cloud there's and their lot rate systems or is centers spending from are It's think culture. effectively. big

funnel We're excited we're buy seeing to So question. to about excited we're cycles. what's seeing the also market is happening. some sales shorter in We're that opportunity the your There good strength answer parts about for some in that. of

Brian Schwartz

markets big buying with current for with the kind the Do about that market, a XQ? And the question Is it me leads here, seasonality quarter is in they them. know similar up with similar enterprise your the quarter December buying a end. end your typically, have end markets? I Do have software of seasonality? next into the enterprise QX quarter

John Hall

and business populations might States, are that Well, of do might several outside so different so some We countries. inside there different year-ends I our some are target financial think different have market XX% our in seasonality. United have seasonality or the

Some that cash basis of the a sell themselves. firms operate on we to

there's so that market is of year-ends, but or March parts or important, often And April. different our June December other in have

anything serving, argue So target markets also the argue there's seasonality, you across could do pretty distributed. that some that it's Steve, could we're you have well there? but you

Stephen Robertson

No, that's I think right.

the I that's in services than services, think But professional there's been more in think now. seasonality Tom. right, see financial some traditionally, right we I

Brian Schwartz

I'll the and hop me, question into Last for then queue. Okay. back

intelligence a throughout You announced platform. the have the capability, the analytics functionality new release press that you in relationship

your more think Just trying hopefully there as we improving should to with Or capabilities? forward? about is proposition the value a strengthening we and path it win as understand, move that monetization rates

John Hall

Well, it's latter. certainly the

the clients and really new this we our sales meet wow, and way are and go the AI process, that bring purpose-built we saying, into that understands a works. applied system organization and more more As the of people capabilities of is more more

a them, base. land-and-expand opportunity we with for model many have I think a our of also and several install year, we an releases We do have lots of ahead. opportunity

we far road map. sold with that we on through fact XXX about as the of and top whole platform could we S-X clients, that as talked our upsell I $X the achieve if think we thing just have billion the back one our

about take that of So excited and of capabilities relationship our we're map intelligence AI. applied road advantage

helps the coaching becomes more deploy better looks opportunity intelligence footprint that better and and advantage for huge the lot individual organization's we take areas understand great system. client grows deals us need whole see the actually. to care areas is the the capable, to can development a of and more over at client professionals firms platform the been have new and overall And firm's relationship and a them our that a relationship applied as help, us where As capability relationship they're of years, and really they if new strategically pursuing helping do they

seeing excited across So and the we're about both in existing market, one, that good interest some new and we're clients.

Operator

next Our Stifel. from comes Tom with question Roderick

Thomas Roderick

the on nice Congrats results.

question, looking have a with only to So another up customers think above point And solutions, of more back I'm of $XXX,XXX XX. your I success. revenue like to looking at few that range. these the and metrics, which been bumping I'm me seems customers bigger, brings ARR, the retention net the the buying at point highlighted earlier they're the it customer might over highlight Brian not it getting traditional it's

more the you they're services then investment onboarded doing community a professional to your helping your partner with and made how teams, you. that along. manner. hear you from you've What talk is and that's practices have of building do how new coming customers own that a bit getting about and customers clearly perspective from little around love implementation in that And successful hiring You're the I'd is

John Hall

Yes. Thank you, Tom.

lot may with firms people very been working that grown struck the to Intapp up history our So their important itself own who has years some build and strategy. client the with working on successful partner partner our a these have many part over of cultivated of ecosystem or Intapp firms has of of with and out us, have an

mixed a have strategy. We

about we own clients and options ecosystem. make that how our success approach our teams client We have also with our engage have clients And And choice with work they sure client are that that. a successful and partner platform. they services a with and our

We grown got success as we've as are who from supporting a over happy to record we've then have of reputation grown, successfully a or X But to done because think clients referrals business. a more strong improving they're have providing also with And I the lot, in clients years also and clients us, client always and strong and across our ecosystem the in to the that our growth do. X organization. very working There's and in clients our of are success invest past lot who existing we've our also us are from were their environment. the partners interested strong that a existing coming we is board referring

So for there's us. lot opportunity a of

you guys and out reached population a had incredible public. "You And about going knowledge asked public us hiring our are very people the who potential to We've the internal For raised about, have to recruiting and particular has excited of about us skills a have said, market visibility. reaction I've lot been in that this company.

us deep very part think is some the the expertise the to I We has one us on also IPO And true sign think that quickly. team." level. that to something be industry but growing for to at helped team is bring want significant It's of reinforcing really the You're talent good the at about level, I a the pillars true of apart. technology very sets company's that it's start

well differentiate us. forward, and it from from so to And clients, of ecosystem itself, we're that from help to continue us our partners, going think the expertise for bodes lot I our a bringing

Thomas Roderick

front. that hear Great Fantastic. on to

to touch U.K. Second has question I bit I always in you. international wanted more for detail. a very on for little know market been me, just strong a

rising been has and a particular, emerging in kind of APAC, think I sector.

reopening slowly pretty more strong been software others, the demand love opens those regions you the has going the been regions for I'd looking to in parts slower of a little some end lately. than seemingly instance, how in in for those pockets hear Europe, As has world across is how is demand and up as APAC but reopening

there. those across dichotomy maybe the what hear love you're regions, to X I'd So seeing

John Hall

Yes.

well seen, has your in overall our to from Pacific. in East, as of in with So in demand It's Europe excited Europe, about of and other question, the East, XX%. Asia Pacific. both Middle various We're Singapore, Also that. winning we're Asia good line parts our XX%, parts of as business international the in about parts Middle growth We've been growth. in Japan,

So that point something I or positive huge has that home work would impact up don't from on as had I to us. opening or the a issue know the negative

option business and work-from-home firms in from any enable of people. a work they've entire and lot actually a well up format been the haven't work to done We're from COVID of period. that enable would better seen negatively gotten because how more as starting through I to we've lot And hybrid lessons we have we've give really to open folks in a the the think demand the to But particular I of side, learned say. looking to ourselves. office area, the effect themselves

Operator

with Ader And our JPMorgan. comes last Jackson question from

Jackson Ader

the people size reasons either catalysts of actually to for are it If of to people of market their off the depending platform? we ready think the make or -- horizontal the the some probably customer pull switch a vary about jump the does on to end and your platform, for trigger

John Hall

size or So for on the the the a is, to question choice. based there catalysts do people are end make the catalysts depending on -- vary market

Jackson Ader

Correct.

John Hall

the right using people on larger style firm. size. have organizations and front, it's So far the for some of actually end size platform been doing of We're the good with the new at firms, some interesting there's who think our that I now starting know of business their answer an are who

of where the firms small and have reputation need just off the have the growing we those firm services, "This platform. system that business that raise a our So the that a about funds and people is the new ground." people brand trust start our firms we is to have in We're say, grow the of or because we and new and sign that new excited get it's part that

the it. highest the a organizations, who, one the very of of firms most not end to starting time. a a to catalyst. with "We're so long actually I've sort switching say, had to they're policy So It's the been much end they're at of something large year other firms excited on-premises for still off a going At that's strict as of some at as the ago, see the market, be very prestigious end,

cloud-only months, We that the have in some said the they're in and past cloud." top about the a made And these questions going firms cloud-first, XX in time. COVID to the of switch just reasonable have through XXX-degree period world of

converted COVID very So have the some the from I of market. think, have last that catalysts, the there pull top of period been the serious outs at

that the When this and industries melting optimistic the ours cloud trend, the And them, to transformation needs. confidentiality now. the making cloud drove are and and go that there some other And are specialized firms a logic I'm didn't the the of ready need like through So actually and firms are have capabilities digital switch. the of platforms transformation they're that trend away. some to meet really impediments these the security of compliance same

size. So that's

past to and what? there. the it's ready flipping go, over historically, ways bit firms then capabilities a been client law of interest who changed. lot that a far goes, a around they responsibility to lot themselves firms from it's I firms the the the "You So the now. are We're had mean like had that's As their think some of folks of think had don't as little manage years. make there's information. cloud-first banks the And switch." to that really This more how one in most compliance, or industries probably know conservative X a of market but mysterious, about has, already, I technology are I have rules were the I think said, has lot X The

Jackson Ader

maybe that and we margin, That is services. about we the When services and cost follow-up move we negative great. level either rest the should how Steve, revenue look on at year? professional of that gross think through both professional as of a maybe quick

Stephen Robertson

is a normalized think is back. Well, was a kind year-over-year of This quarter. I services COVID quarter. Last quarter

numbers. a going that's services. forward, And in good grow will this difference those part So the of business

are have. we built we've services infrastructure an to for look, size probably business. think, close into the I twice It's we that growing a

we So over margins track on some the to we're better into and feel truly continue of business, we part of It should generate software that be services does support as pretty our well time. our grow efforts.

over of that's us. equation, better we the we're with get for to and time happy So But are part expect too, where here.

Operator

this John to closing remarks. questions time. at turn any further would any to now back showing over not the I I'm for call And Hall like

John Hall

questions. Okay. of work all continues Well, Intapp supporting thank team We great I'd everyone. to go quarter appreciate your to and attention clients. all a that and for our the the into like thanks,

momentum. Thank We off the looking next to for to today, excited have you QX kick continued great all your quarter. us and forward behind you and a we're we're time about talking year, to the

Operator

you. concludes conference This Thank participating. Thank today's call. you for

now You disconnect. may

Intapp (INTA) 13 Nov 212022 Q1 Earnings call transcript