INTA - Earnings call transcript Q2 2022

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Operator

Good day, ladies and gentlemen. Thank you for standing by and welcome to Intapp's Second Quarter Fiscal Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. To ask a question during the session you will need to press the star then the One key on your [Indiscernible] If you require operator assistance, please press star then zero. instructions]. [Operator like conference now speaker to hand host. to would over the your I Vice Relations. of Trone, President David Senior Investor

David Trone

Thank you. Welcome XXXX Earnings to Intapp's Second Call. Quarter Conference Fiscal Year

On Officer. Hall, are Intapp, me Steve the CEO and Financial and of John Chief Robertson, call with Chairman today

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

John Hall

solutions. people, calendar data second corporate and and better afternoon, our you our their processes, for Thank enable quarter professional everyone. XXXX joining dedication welcome software Good ended through firms Thank financial David. And We our team, and to To AI-powered you. fiscal the to with connect mission. us. services to year continued

on to XX who you As our has a more than new those for team sector be reminder our this for story, years. may of focused

differently been year. global underserved and make industry $X has firms the by every is trillion in that large functional needs financial Our technology in fees than Traditional clients clients or were functions. large departments and market. firms their technology their specialized up Their as organized the data the In This the careers because leveraging and work that a But to employees that developing grow services traditional partnerships. organized and organized brings industry traditionally sales, into professionals be its contrast, knowledge finance, those whom professional we corporations and the it overlooked about are who the rest tend or workflows are in of are to domain. chosen individually specialized IT. the like expertise corporate serve by professional

industry. market these global, and reputation and recommendations. including for financial market workflows help our Today, industry Cloud AI cloud Intapp understands product insightful, to their and to firm's more expertise revenue these market our solution their execute total the is by drive with their of success We've more to own clients and of the unique and serving our over of architecture. and of and trusted were year retain globe. We and ERP We model our business clients, from up or global better, judgments With up million, and second of XX build traditional and strategy, of that Cloud then a competitive day industry-leading The and build professionals specialized focus purpose-built revenue respond on now career changes. is department XX% year-over-year these our due firms $XXX.X We've professional, sales data-driven, Improving their and Cloud grew market support arms our financial the broader SaaS earned operations million adopting for services more these quarter brand make evident. to the Cloud firms. of technology X,XXX for professionals with which leveraging their of in intelligence, with Intapp’s of investor XX over. and success years our client workforce Unique and directly built In and the power the demand countries great returns deliver ecosystem. area are them firms. in every on our industry on a these to systems several projects. results designed professional modern working to those to wide data, ended and leading greater $XX.X for professionals access to Our year-over-year. connecting that XX% represents transformation that and to acceptance range and rapidly and $XXX and develop of seeking up reasons, based knowledge build XX% ARR around Cloud XX% December we the relationships, $XX workflows them firms million different traditional ultimately key to develop and modern deep working CRM Cloud grow agility total markets has over established is their expertise for. XX% are our better services focused cloud million. ARR

critical organization interact During our Today, we of about prospects illustrate to I'll bit needs and to clients drive a directly success. demand of deliver client our go-to-market with how better and our how November our they call, address solutions technology and I unique several share for our outlined capabilities the clients.

entire own based clients enabling organization, our continued we and revenue moved professional a evolved the to to growth This industry serve is adoption firms. accelerating transformation unique our model both and our and this SaaS business work of its retention. to virtuous the net our drives on model, focus advisors investors our go-to-market decades to has shift these Cloud digital on outcomes have of who in a and to make the improving industry for target the are cycle go-to-market Cloud. X our We Leveraging which

and have sector who deep banking, capital, themselves, knowledge experts consulting specific legal, markets. private industry the include teams client-facing to Our accounting, investment

at marketing and drive level pipeline programs cross-selling lead and sales the through industry growth inbound predictable both repeatable programs. integrated generation and Our

to expertise pipeline each account resources Our and go-to-market surround team this applies both solution to expertise opportunity.

sales engineering solution and operations compliance. key development, coverage such finance, relationship management, marketing risk as management, and experts business on and Our use deal and focus management, cases

and to high proposals, to Our is advantage in our unique ability all the business a rates clients demonstrations, leaves markets. win cases deliver significant of competitive our and

and recently group over administration team our services strategic EQ, example, $XXX under global IQ of billion. assets a investor For won over opportunity at a with employees X,XXX leading

for of management to both technology our use configure teams help was winning relationship Our services solution and capabilities of platform will IQEQ our critical of the firm. to the enhance unique cases ability the IQ The The success the will expanding to and expanded driving the and team better of support relationships new client business help the capture firm-wide support knowledge the to clients. to EEQ into client. needs platform information sharing, visibility

for This over Our bring presales IQ, this this to represents own life in industry known are many market expertise, know advantage clients EQ. like and years competitive market a and services deep our unique investment Intapp. of a who team in bench in experts building for sustainable

around Cloud. enabling Our we offer and grow functionality. industry sizes. platform at successfully its with of full bring out operations the firms go-to-market solutions to firm firms generally smaller And its engage developed has as with strategy users we our and build new ways our We the different suite client to also firm

clients. U.K. our potential the a sales, collaboratively a platform deal, Relations and meetings important recently creation, series cases leading firm's our Capital, now After example, teams efficiency boost supported our of the we're of the mid-market to with is strategy, with Cloud sales leaders. those. and teams. marketing, private value for We the by marketing our sales good process technical example showcased the in engagement For firm's equity and of Investor client. of This prioritize program, use to engineering discovery selected firm, deploying their technology the are of most Graphite the and a that Working integrated

will over with adopting a global with the firm phased firms an to to them We employees. over grows. onboarded needs recently cloud Larger advisory platform. often firm business to approach Intapp their the time X,XXX select support as independent continue evolving We work

sales in complex on identified discovery to specific around use intake their improved business a the requirements During some case process compliance focus a process, regulatory Europe. we support with

of more pursuit solve technical with EU to strong our IT adoption time. collaboratively new regulations, both opportunity Working with a their and over strategy. cross-selling and with set we cloud deep understanding additional immediate their requirements strategy for sophisticated the our integration demonstrations, up existing the to required adoption with growth platform firm solutions. identified we We upselling and a clients enterprise a expand as Our significant for experts, within firm's see

both opportunity billion to we client in our we believe As relationship is delight SX, client We expansion invest and alone. to in we XXX in ensure in our top clients revenue our over expressed clients. support that continue management $X there

global requirements. example, move client client and adherence a will modernize to their intake, for intake, multiple Intapp's solutions them They Intapp's risks and For conflicts, approach soon regulatory overall cloud law faster business complex handling large recently using which full Intapp and management. long-standing needs risk firm solutions, will sought a deploy allow to to to to while support ensuring

the this also to solutions are part Intapp migration accelerate industry we helping their As our firm on-prem project, cloud cloud. of for

registered is a people, and and discussions data. by a hosted includes clients and they industry guests engages teams, go-to-market can to than annual professional a their specific function discussed and harvest two-day keynotes experts the how and our changing solutions examples peers and processes, sectors better the on also the just build XX that rely adopt in continued how financial right go-to-market few Intapp to we way sessions Over advantages. connects drive led program event In modernize QX, outcomes. and conference. client more key Intapp program. better multiple connect marketing around These one This knowledge go-to-market our Our our strategic from XXXX industry. illustrate and opportunities, our strong find attended user Leaders period, landscape services in

First, to each our be served without each low-code platform the for custom is needs allowing and unique industry, configurable for is client's code. requiring firm, designed

help in cases specific client. in technology Next, who with experts how and supports experience industries can the of our showcase investment use meet industry and our the each identify requirements these for

Next, just client deployment, our but successful ecosystem not along with focus our services adoption successful partner solutions. on teams and our of success

unique of the go-to-market Finally, the that in have a approach special meets developed we needs XX clients these partner-led our over concert firms. with years, past

developed reputation today a community. network through have new within our as this community. generate within we business effects well-earned often provider a client And trusted We

needs between long-standing long-term Our act believe significant move opportunities industry to new us our for as professionals sustainable, serve this advantage. We model specific the competitive as firms. unique designed go-to-market is a of relationships client of driver a

the across with working the firm the the and support technology are that themselves. teams professionals leaders Our firm departmental and

Cloud, our these constituents of will take the the to As advantage our move teams guide industry to best accelerates its transformation. on how all

As last larger, mentioned we TAM. out growing year our we integrated in large our function on the pursue past go-to-market a have and call, to building invested over

We as continue move to the remain to will cloud. as continue on capitalize to we see the our and market as new in these opportunity of particularly invest for opportunity to make growth, front aggressively in are hires the ensure QX, that hired leader will that clients help we the to We us. we bullish long us

turn sticky continues financial over As will to further drive of our Steve results. to adoption the now I call able our subscription to to revenue. long-term and growth grow, cloud we're discuss expansion through the

Stephen Robertson

everyone thanks and for John us Thanks today. joining

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

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

Fiscal of year-over-year, our ARR XXXX, ARR XX% grew grew quarter cloud total second year-over-year. XX% our the For and

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

Okay.

and solutions, XX% by $X.X Moving cloud renewals clients up QX year-over-year, was primarily professional compared continued and existing XX% $XX.X strong of for revenue to was our solid $X.X as in and new primarily cross-sales of the support on-premises another Total as new quarter Cloud numbers. in million sales revenue. Subscription follows. revenue to period, Intapp our sales million was year well $XX revenue prior strong million, driven as growth purpose-built year-over-year, upsales licenses. to up services SaaS reflecting by license clients both solutions. Intapp of million to reflecting subscription was

from quarter of prior XXX COVID-influenced to is continue the line to $X.X which revenue ending year $X.X basis. of period. and prior X,XXX ARR was As somewhat year more in model, we the variable in period. a as more noted clients, compared new execute as had of Professional previously, normalized revenue services to land market compared quarterly up expand software than XXX item the Overall, our million reflecting prior the year period, $XXX,XXX with implementations than this million a more in on

we months our and existing range XXX% such clients XX rate retention a XXX% row. quarter net cross-sold trailing up-sold to the of that addition, second in expected was revenue our our In above for

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

and reminder, shift our the margin reflecting results, can along release in year with XX.X% non-GAAP XX.X% between a GAAP in its reconciliation prior compared As the be earnings as a our Gross found a to and period. mixed tables. GAAP slight was in supplemental current results period, financial financial press

we growth. $XX.X continue Operating was a in increase recurring year-over-year development sales, our million support as margin product our to modestly expenses invest revenue For year-over-year were and to gross to solutions, $XX.X up XX.X%. marketing, million,

in investments of the as still the we increase R&D pattern roadmap. COVID Second of capture was the As the head $XX.X markets. X.X of spending million, as prior in were product XXXX as a expense reflects million was expenses Sales head managing new and year in of operating compared a was G&A quarter, to our with $X.X operating was XXXX our $X.X a our well with compared and commission year million million, to when million increase made increase more profit than prudently company, company. million count. Quarter traded in year-over-year of spend traded just discussed. marketing primarily as non-GAAP reflecting publicly to year's second as net business loss per expense expense ‘XX increase and expenses fiscal share count year-over-year was interest year-over-year FY second quarter fiscal million function XX.X Quarter million, line over average increased sales this we being $X.X pandemic. $X.X a associated publicly fiscal loss expense a a normalized $XX.X share increased an primarily a year-over-year investments in growing being during compared the uncertainty a expected reflecting count non-GAAP the in $X.XX of the reduction fractionally in a the increases of and increase XXXX, loss to operating negative in of as quarter weighted expense Second

and strong of X Accounts go-to-market the from we line of In million last equivalents, the $XX.X Turning with QX. expected did hiring invest second that in and forward we was receivable million end $XX.X outstanding. we balance cash end of in since and so of quarter debt in increase fiscal seasonality our the an million would XXXX, cash told to sheet, we the decreased XXXX, fiscal the through quarter, growth, collections. and $X.X you billings during our ended

invest expect raising factor in opportunities T&E further we and to for R&D of expenses time. forward Omicron temporarily trend will However, QX, we drive marketing because hires Because these and growth, guidance and and reduced a to somewhat start we abate January dates QX. their sales, at number profitability marketing, QX pushed to to our a our are related continue our to factors, in see of moderately this program

for our the expect positive previous running the cash line modest with guidance losses quarters. for flow manage We business to free few in while next operating

Now turning to guidance.

we million. million $XX between to and million support third of in For SaaS the range and million expect the revenue of of total and Fiscal’XX, $XX $XX quarter revenue $XX

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

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

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

Operator

first [Operator coming Now Instructions] from Jackson gentlemen and Ladies the of Ader. question our line

line is open Your

Jackson Ader

guys. Great. questions, our Thanks taking for

first The logo growth. on is new the one net

So XX if could quarter, us top you we XX you sense for the new that logos? of that to the that at markets end the contribute are look maybe so some a what or give added in

Stephen Robertson

our logos we to And some there. of opportunity our to sales real and to are of you fewer nature much an new new let than business logos that. have Jackson, and numerous services per banking where we've There segments both have the cross-sell our where in a financial business we clients. today. longer, Well, and and tends or other markets professional where up-sell me of good generally good momentum to more of financial in capital quarter been and are them take we investment Thanks, tend be driven private hear Most se. services new logos -- have in in

Jackson Ader

retention adding driving this, are question, XXX? law What lines business this -- which XXX second the was that range. existing firms be to to other is being new actually you the than Okay. expected? driving at is Perfect. And upside net the about products revenue that XXX really that previously services above into professional of leads might or of they existing really or had faster adding a the geographies, What's rate the

Stephen Robertson

working And seeing balanced it. that sign of people opportunity functionality. In elsewhere, well financial services, motions of achieved people and have success and it's cross-sell of typically lots legal to professional we're some in typically the additional where pretty users, the product in there's good across what in really more for towards want sales Well, it's And And services implementation. board. is there. upsell leans up additional

both. a two yes, range row. been it's in our fairly balanced from better contribution So And than it's here, quarters

So to we and at that look pleased it. continue are with

Jackson Ader

for my question. Okay, great. Thanks taking

Stephen Robertson

Yeah.

Operator

Now our the next question line from coming Koji of Ikeda.

Your line is open.

Koji Ikeda

John taking my to wanted Hey, I quarter. for great question build and Thanks last Jackson. Really on that from questions. Steve. really

Okay.

the So NRR be range? second sort of any was so then above When would feel bit XXX digging that helpful. NRR, was And there, quarter a raising XXX on it quarter more, So there you straight color for range quarter? last than comfortable maybe this that to higher news. great in little would

John Hall

if Sure. I revising this, see -- we if of just we we kind quarter, would sustained last last chance to honest. this than we next quarter. good changing think next Well, Koji. better be success were somewhat that consider there's a where quarter, were We right We to slightly were by were it's say around not as fair quarter,

right quarter the board. optimistic quarter, and now good across it business that. but the cylinders be just firing see out we're we with And So really to on here, want about all careful works trends we to

Koji Ikeda

more and financial from Got it. coming XX% about thinking for plus the the on from there the for new logos then quarter. Thanks And Cloud you. straight the on the AAR color ARR, services, thinking side. I But this, growth services. like growth second Thank in specifically -- I services be from and more guess the ARR how strength growth? where sounds OnePlace at versus maybe financial that mean, professional or coming about we is Cloud is DealCloud that should coming from it

John Hall

Well, you balanced dollar between will. if an on now the pretty really it basis absolute is X,

growth before, where their in a on bit and business think and forth, quicker based of as and parts started we little so said just size that the I history the X growth rate pretty good pretty contribution in and basis. Cloud than from But a part sort both getting services on the professional services of we're a financial of as percentage growth. balanced there's

those engines, they're As new you are the if Cloud, all twin from sales you coming X will. know,

Koji Ikeda

Appreciate Thanks Got it. it. taking for questions. Thanks Got it. guys. my

John Hall

bet. You

Operator

next Our from McVeigh. coming question Kevin of line the

is line Your open.

Kevin McVeigh

congratulations much. well. as me so Thanks And let add my

client you're the follow like client been Just size over the employees seems a in you of today that's over clients of and percentage trending how us they up couple last larger to where are XXX,XXX, help what understand it success, of on average can terms quarters? is capturing the

Stephen Robertson

the I our see the but and employees if an sure not have clients, average $XXX,XXX in you'll ARR you there. plus is over you average the there's divide I'm of so size Well, X,XXX terms ARR by just a for spread for obviously, business that

you terms you don't In there. you. employee number have a hazard I size, add for may to want John, would color of some

John Hall

maybe range a employees. the client capital Well, XX people from sell of just the private people to go the to firms, XXX today investment are that which could or firms base the including Four, have a global end. firm, that at our advisory on Big to count at handful out firms And largest small we XXX,XXX the started five we of

provide that the level and to the world of supports scale. Cloud We've it of to firms and a down the firms. just way platform benefit being in then in AI the able largest built So smallest the power capability does get started that we

firm go-to-market we depending engage And size. is scale bit industry, chunk professional little firm by address overall, by of financial the able So the to the the organized we're a of big services but globally. differently also but market our on

because So it of into we're winning of these the the we're the excited shows market. the sizes business that about potential making growth and clients progress different

Kevin McVeigh

great. seems us I given kind the revenue, that overall from related of just pull-forward, maybe Not given really or dimensionalize any fair? spend just great. in perspective. like help a That's then continued implementation mean, Is And That's COVID acceleration client the it. it acceleration. the

Stephen Robertson

the that's forward certainly from from COVID asking. there quarter, COVID are our if some related pull you're -- And no what there's really -- comparisons. next yeah, Well,

but a pretty you and mostly environment back quarter-over-quarter right That's If looking in now. here, what normalized you're go at business good full-year, executing that we're on. pretty we're

Kevin McVeigh

Great. Congrats again.

Stephen Robertson

Thanks.

Operator

Our coming line of the from of Peterson Raymond James. next question Brian

Your line is open.

Brian Peterson

congrats echo strong And gentlemen. I'll thanks, the Well, on my results.

can one, in customer or few the I'm John, So kind may of developments pipeline next of curious, in first or terms conference. conversations any share you out user that host that from Anything over years. play how pipeline of terms the

John Hall

same Thanks, was X,XXX fantastic Brian. came shared event The out how Intapp from on. event. challenges with were and We grappling one, was of call professionals different for a the same business bit a had the attend we these common firms but the all each across grappling the have a that are support little folks services X that teams Connect’XX interesting the the sub things that the verticals firms issues. the and that are with of specialty, it of issues

common to So technology on together discussing across opportunities the a verticals there of for lot transformation. sub was work enthusiasm

digital real was a better on that also was of the eyes hybrid So came to these a that theme big it. cloud, to of the firms COVID out discussion dispersed opening to of workforces. enabling transformation, of or There impact

their digital so these is firms reinforcing been environment. in we've what have of shifted experiencing, focuss to a of some enablement their lot were conversations COVID and better compete transformation for changed towards And technology which the people through a

new not our people that well was it lot as had and coming for very event a lot to about a get discussion the referring base there's installed met before, of A we a question us. too. each as So other To successful lot of attendees that of pipeline, into to community. about Intapp your

through doing the seeing what think there. I we're some by of you're the encouraged results. of it some flow for enthusiasm we're And So out to

Brian Peterson

going to off hear the mentioned some we'll to in to do or know we're effort, you those, great we expect years guys. thinking intensity that quarter investments a here. start as and start good maybe benefits think to the see third How of we years? follow-up continue couple some about in those out, investment in hiring for forward, that go-to-market we maybe should efforts a about I kick see Steve. should That's especially coming of a and of Thanks,

Stephen Robertson

Yes.

when forward we to invest in continuing are can We and sales marketing.

said this continues. we've success quarter, we've that far and last year some As here so had

marketing since our are now, and look We there's adding moment. And hiring and the continue we up of resources to going to rate And of right opportunity to that to on at mix. so see do we're annualized north so I sales the that's time part XX% that. growth ramp think much and

So we see opportunity better. and that us. productivity do improves continue as after this front forward it someone gets we'll optimistic But in and to going market we're of starts

Brian Peterson

Thank you.

Operator

Our next Parker from question coming the Lane. line of

line is open. Your

Unidentified Analyst

seeing what Hi and guys, bit is there a logos, net And Really into of being Parker. want from into on that XX%. impressive keeping different to with mix client segments. look for you're on a migration quarter of of professional of time some from that From Kicker the first Matthew length I Cloud services this those for get ARR all a interest segments is of that great you services, I the mentioned? well, but little maybe each more does gave they're specifically, north it those And like? platform, of numbers, to the the the timing detail as way new when breaking on-boarding financial added each bit with process based point-of-contact down

John Hall

us long Matthew. So The thanks, take to them? win question when does it clients new is, we onboard how

Unidentified Analyst

services logo. and net if exactly new versus financial different or cloud it's migration or services professional versus Yes,

John Hall

Yeah.

you it's the average, across takes scenarios, which on all if is it's and smaller because look weighted the So they're that firms, a ones. six for firms process, integrating longer whole for into. it the larger the obviously, month nine faster, On larger to more client towards base we're complex environments about

to smaller XX days we base. and rapid across up experience getting you're organizations, client whole to can X the smaller that the the in very firms for months something a there's like For on but do XX we're it at running, average, X so looking

Unidentified Analyst

sales your it based any go-to-market, affect capacity? you then whether little that's then, it's Okay. that those a but were how that the on does great segments And does four And the And bit on does how in differ investing touched mentioned? -- info. you're of

John Hall

In go-to-market investing the team? how we're of in terms

Unidentified Analyst

Yeah.

John Hall

firm By or size? segment

Unidentified Analyst

Yeah, exactly. How does that teams? breakdown affect in how you're those investing different

John Hall

relationship. growth we the are of we the people a consistently firm also success bring see and adding pretty have strong, before, new teams we segments. we growing support lot Obviously, and we're sizes new that client client balanced clients on for to different Yeah, the support across as didn't because

make you'll in see a the accounts there of bit sure the to them client, position care and win So are a we that little from there. to not grow in to of investment just but waiting take

it's where we're So new clients. balanced some pretty with winning emphasis

Unidentified Analyst

Thank great. you. Okay,

Operator

coming Our next Tillman. from question Terry of the line

line Your now open. is

Terry Tillman

financials transformational well. with some bigger companies million these debt, public is some Yeah. I definitely two are me firms? see? large firms. into have doing then services David. congratulations first I have really that you further bit and months public, deals, they three question Steve, you out I'm about company, services deal you're within on activity got and there, the had go how past. Thanks professional you've you I've interesting Hi a And some questions. What about to $X of Now this footholds what larger and little financial from the follow-up. like curious etc. in being don't You a I guess John, I -- think John of asked have with and benefits all That was as a public, kind

John Hall

Terry. Thanks

that public client us IPO with that given visibility in I regard. And We winning this some were visibility gave in couple large wins, continues It examples help think quarter. has us. the that of are that We a larger really clients. the helps the quite pleased of including to

won existing We some company growth levels also in IPO, visibility our as to are had that we private clients helping but we us. now. organization seeing of before have the that's And a higher

we're lay a to But For the to for what future. increasingly in we're that Cloud it the excited clients them larger progress about map. these bringing cloud takes Obviously, on of and the larger transformational for firms. out deals time our means we're making bunch and that the type for first our consistent transformations in them longer working pretty areas, for road

Terry Tillman

And or look an legal Thank there's quite with side. more guess market. those mouth, tend the whether Does the the software just you That time on just knows things create do kind up? not activity. what this see your Or capital your If or down fees. service, of to when services looking some even more do of sounds goodness doing wane fee as the and in end be question where to not wanes financial the of some going has but we're to thinking? law correlation as at about What volatility actually that the opportunity wishful or I are if of or an putting the stretched the how trying education little and in kind that maybe business to bit slow need And and And -- follow-up, am at rest markets is just it's for business, starts much firm that they're me? out just that there goes, and year good. understand professional correlation who words slammed you. start going with those and I just drawing a industry on might been banking investment with

John Hall

Yes. Thank you.

market this we like on. internally that shift business that these the their reasons firms strategies and XXXX we today are that choose tend their to interesting make firms back that One XXXX can business to from they those infrastructure. going pursue obviously of in and the practices strong cycle did the recession. markets occur. to time meaningful investments as look And the examples pretty multiple to But We're of is they that benefiting have one is end

to firms grew You from will the last litigation mentioned right and and that doing firms, doing deals thing. financing switch of law law we that And recession. we found restructuring sort and through

other of that but So this better anything handle market might the take on a maybe well-positioned predicting we're lot things we're go companies not than think economy, to I it a end with background hit. harder as

Terry Tillman

you. Thank it. Got

Operator

And our from coming the next Brian line question Schwartz. of

open. line is Your

Brian Schwartz

thanks takes John, this on call question Hi afternoon. about the puts taking afternoon. that and have the macro thinking John. Yeah. been question and you've of about for I you're here talking everything When my this all Steve for a

the you're aggregate in that you out the expecting look than this in would XXXX? weaker you or what If to environment had so year, say same you to demand XXXX, stronger, be

Stephen Robertson

that to a mean, Well, numbers we're it's showing. that environment. compared seeing we're definitely these calendar stronger XXXX, in I just

most line, services professional when what's the knowing firms Our period obviously going COVID. with came from paused, back a were really on not

made are and think about here significant and technology think a being of in really I technology here. quantitatively, importance professionals going to firms looking the XXXX in just strategically we we're through way, to in talked see Cloud always about I So said, That stronger switch sunk this pretty transformation, people to have clients. accordance a in forward, in a the that also these environment. past investing the Folks importance their it's firms, But XXXX. thinking the of seeing

good as what's about cylinders. Steve by firing on four ahead, business But We're encouraged excited looking what seeing. is we're So demand I all The really, there's happening. think we're said, for us.

Brian Schwartz

for Steve. then one had follow-up I And

Just a even these wondering if unpack a sales it you these -- further Is marketing? on provide towards bit, unpacked marketing it investments a where growth sounds little it going going to advertising, where color are they more Are you can the you lot. capacity? like markets? line. Could is investments. and are little increasing New bit you all growth just Thanks but increasing

Stephen Robertson

and John took really in out thing spent had and had we and sales as think ground, I here capacity pretty those. little what we're to because folks steam We good certainly, of we seeing, sales actually. a across big mean, the it to of we investing fall. weighted said, advantage have of conference opportunities related the the Yes, are sure. our -- on areas. the is marketing support want also take and We might Omicron in bit I And board,

QX. that there. we why quite But -- much so board see spending was the there's weren't we probably opportunities across in So

towards it's balanced say for support capacity weighted would a sales field. but it's bit and So I sales the efforts in

Brian Schwartz

much. Thank very you

Operator

And line question we Ader, open. your up is from have a follow Jackson

Jackson Ader

Great. Thanks.

then investment the know, funds, particular there sometimes how on in within small land of equity private the you Just a Like customers? debt just a someone's land Will you and market, are and talking these potentially banks, -- larger the capital equity? it quick capital of that land Thanks. beyond. can or these Does Even go by be markets within sometimes will of team larger small private follow-up equity to it upsell does answers of one earlier. some the we fund within question gave don't about within, how fund one I go? go

Stephen Robertson

Yes. I'll it a that, take people. expand maybe or land, XX a elaborate. small of could think John division we or that be we be of then at as can a one can a part can said, unit John firm, and shot Jackson, And there. I could from there. section And

on what elaborate seen that, So And enough, relatively we've success it good can effective way if you obviously. bit that, but that often can would that. are relatively, John also enough be to a small, land quite consider our and we I that's for speaking, we go. generally a to, can that think than bigger and we is us And efficient like

John Hall

firms their some we particularly There's that and are advantage. show to they Yeah, bigger independent history can decision-making, with influential partnership own very of footprint and call partnerships. that some Because institutions, to bring can that success small in. groups of a win strongly on the firms ones what lot as have these the start make our in a success, actually in plays as improve

doing that's of about is finding to the and that a successful, So different And overall organization very rest from we're environment, start that strategy. the to grow. we're starts our once existing how of it's part we pragmatic see it what and we're the key

Jackson Ader

Yes.

ton Okay, a Thank makes you. sense. That great. of

Operator

no questions Mr. time. I like am Hall for I call this over to any closing at back showing the now remarks. would to turn further

John Hall

Okay. excited Thank to to appreciate us. QX. the again We of about looking talking us and We're time, in your all we're you for always. joining opportunity forward front as in you

Operator

conference Ladies Thank and your gentlemen, participation. that ends you for for today. our

may disconnect. now You

Intapp (INTA) 10 Feb 222022 Q2 Earnings call transcript