INTA - Earnings call transcript Q4 2022

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Operator

Good day, and thank you for standing by. Welcome to the Intapp Fiscal Fourth Quarter 2022 Webcast. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. to Trone, conference Relations. Senior like speaker to now David today, Vice would hand over the your I President, Investor go ahead. Please

David Trone

XXXX Thank quarter Intapp's to financial year-end you. results. fiscal Welcome and fourth

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

hand forward-looking any we we financial to discuss statements. in today's GAAP on A conversation obligation call, non-GAAP to Intapp furnished will certain any to to except These difficult During implied earnings in other be and are may assumptions can made which for statements our materially of forward-looking is understanding business, expectations, differ as publicly forward-looking the over SEC guidance prior the described law. an this of provided statements including full-year release, anticipated the with aid and to on With regarding available comparable today's found expressed management's we of that results date results. by documents and to and that from metrics statements, I'll by required certain forward-looking the those the of call, predict various are trends, the call. fiscal performance quarter such and Further, disclaims revise believe first our XXXX. also in or course to conference subject on available views our based filings update our as reconciliation and make risks that, our as strategies could and metrics are or and SEC those actual including uncertainties, X-K cause John. current website today's exhibit Form this to

John Hall

us. you Good afternoon, David. you, Thank for Thank joining everyone.

first We you We XXXX. year-over-year. platform fantastic beat We of full-year are fiscal we added pleased as quarter which enter tremendous with systems with it's proud fourth unique released the specifically specialized business, professional's quarter. be traditional underserved We of targets our in and AI partnership because a by and financial cloud our our had highly company every results existing purpose-built each expertise. this technologically clients, services firms I'm ERP guidance professional knowledge cloud bring to these applied fiscal a CRM and $X with market Intapp model, year new including the year that public trillion XXXX new and to the our for ARR industry. model share grew differentiated is our and say momentum. results our that here designed the their our highly platform industry unique across clients, XX% of strong growth from clients fiscal market is great cloud driven on business to applications and

professionals risk requirements of these order operate greater to with their highly to across the all to enables firm specialized efficiently managing their better industries. and platform in compete arm the generate full more regulated returns profitably revenues while firms knowledge and collective professional to Our the these marketplace compliance in and

demonstrate to strong demand solutions industry platform. firms and fundamental cloud our continuing across our target are for Our markets purpose-built

our our for results strength demand at our and platform clear the Looking is proposition year XXXX, resonating for competitive that our and of it's remain value for and QX strong. fiscal solutions

million, year-over-year. XX% XX% XX% of target up of support $XX.X year-over-year of and $XXX.X of We firms $XXX.X million, total our which fiscal $XX.X more serving up X,XXX revenue verticals. earlier up to SaaS is In As and million, premier year ended the our we quarter, year-over-year. XX% total our ARR million. now our XX% ARR than revenue in across I Cloud grew noted cloud earned QX, represents

products. with Starting Okay.

XXXX year for up fiscal innovation and growth in fuel continued continued year XXXX, us fiscal set beyond. helped product and throughout Our leadership

add to value each product of cloud capabilities valuable platform our increase to enables to our client. the to continue This We platform. us industry

this landed XXXX, clients. we year fiscal captured During many value we as new

driving We retention. revenue also to captured this value by clients, our cross-sell and expanding net through upsell existing

also example, client-led as the we our in cloud innovation, us, to capabilities opened directly DealCloud new markets investors. the new launched platform. In estate we extended of needs of solution our for Our complex unique functionality support one real

person. capability streamline deal and Kayne Over us Anderson to Alternative we their solution into from across capability firm's year, real the metadata with Relationship increased launched the between taking properties, and over firm's capabilities real to analysis. of and into Microsoft the enabling this contacts, email new capabilities, Capital, under enhanced relationships cloud our platform. form entire across a capabilities we Hg management. estate in firm. a management and applied intelligence and software the makers pipeline Relationship this that the harness of CRM. billion gained solution Content competitive compliance map-based intelligence a DealCloud question, a to Extending competing continued DealCloud Office deal natively launched new AI In nurture better firm firm's and leverage governance estate that are day. to network $XX leading deal Intapp we business. night and entire security to the these grow we replace acquisition relationship support of get another this assets example, property identify solves what is complex with new told technology former for answer leverages advantage our through the They industry that this selected dozens investor Intapp's visualization and of to to combining to & billion market Repstor key expand and another Intapp's best platform. to In the to Teams, XXX key with firm see and execution intelligence uses navigate discovery employees international individual and is investor requirements. $X Already, under way the advantage capability to They their Collaboration fully the with including the and services of Intapp suite, the example, clients tools efficiency professionals meetings, using prospect

critical are of All to financial they Teams. and increasingly all of services firms and sizes, as Office issues professional XXX move which for

Okay.

to turn markets. new Let's

develop with opportunities us capabilities our estate Our the created our we multi-strategy the to new into the strength up along capabilities for estate markets part private and of expand client-led on during new strategy, platform, innovation large to as real capital real cloud platform. of define industry worked with Picking on valuable year. clients our

are estate investing, company acquisitions, is features firms, to clients many based is to GBL natural Washington to others. a in the real providing alternative We significant to estate addition real including serving support to a long-term new In equity investors a advisors investment and these in have opportunity Managers, D.C. of solution the target dedicated extension us private investment our real believe unique and municipal to private Investment the invests holding win new large who assets ecosystem enabled Sienna multi-strategy whole firm and the growing the among platform success, that industry. and

the sportswear & and Repstor legal of on in has Corporate faster. European-based them reach solution Finally, the of Legal Large teams documents the for solutions listed critical the across including and include matter departments. information, These in-house decisions entry intuitive a clients and Content market. manufacturer better legal insurance, a acquisition FTSE now the legal to us range have clients to May management June, enabling for our capabilities to multinational a biotech, Documents allow of Building streamline professional in-house more. company. launch of services, Intapp Collaboration We wide provided of XXX manufacturing, sectors, in-house deliver in-house subsequent we collaborative and insurance legal into suite, lifecycle in launched XXXX management and

Turning to partnerships.

fiscal our partner XXXX of expansion was in the ecosystem. accomplishment key Another

ecosystem with announced an and professional solutions to the solutions, partners every in combine firms amplifies purpose-built that includes a partnership value strategic market day. to long and Microsoft software our the February, data exciting cloud our the new Microsoft. history use our that our with we ability in decade clients. partner Our validates leadership provide We chapter who industry providers, new that services entered enhance our In we technology

We and between joint deeper securely have committed to cloud programs and with the platform solutions. support integration our to workforce clients to move Microsoft our help migration

cloud growing Intapp’s firms. scaled shared Then support make cloud in services cloud. of enable have successful. play our the and with in for them us role will expanded programs transformation digital investments Intapp's solutions critical to we we their move enthusiasm can clients global leverage services platform base transformation that partnership with clients and the own help to large April, industry to complex helping essential combined in with deliver capabilities to us joint their enterprise Microsoft to KPMG's Our our and continue KPMG class

of empower departments. firms recently KPMG global Microsoft partnership, highlighting both legal services our As law for ecosystem further an example future and legal to in-house of a Alliance announced Intapp the and

to M&A. Turning now

technology we XXXX, acquisition. cloud added to platform through industry fiscal During important two our capabilities

As across their clients Teams. market in over in and we our XXXX. better target We and demand from successfully past integrated investment XXX acquired business I the this June seeing mentioned, are Repstor increasing to leverage year Office

teams. on firms, billing We hundreds our needs. client big derive solution the operations platform, on we delivering our finance eliminates called we clients we to workflows. technology seen manual our collaboration. clients cloud delivery Intapp of enabling a In four from work. strong clients of critical and the are of greater billing industries modern allows steps, who our value profitable purpose-built extends technology vision are Integrated Billstream seeing operations a accounting automates workplace even June, finance the industry Billstream and that adoption for across improving where already addition acquired more achieve dramatically rely serve, We've for platform. to us the particularly Billstream including all their into interest, The from this

industry industry our third-party to fiscal validation recognition. in XXXX, for of several innovation awards. Turning the In form came

won the recognized, technology. solution DealCloud Deal Awards was award DealCloud two U.S. Wire European Awards Private the best origination and with XXXX Wire honors Equity Origination Private best and Best for deal at Our Equity winning fundraising XXXX top

XXXX tech National solution our named OnePlace Finally, Journal. was by the legal trailblazer Law

XXXX fronts. of can on a year many was you As expansion Intapp for see, fiscal

industries people the we with support differentiation part the we culture we leadership. our pleased new on experts our to front, team and continue and are clients as members client that that to many welcomed On Intapp of true that to our growing recognized is serve An in are base. have build people important our

Inovalon, R. General director. challenges. Counsel our And Chief cloud-based and of welcomed We also we're February, Board. new healthcare platforms In Allen, at of empowering address regulated a understanding Board. industries possesses we our Beverly and Compliance data-driven proud Privacy a client deep her on expanded Beverly to unique designed to as cloud-based provider complex Officer a leading and their platforms, have

And many the private so sizable logos world who expanded include see increased Intapp the the to selected agreement performance to who firm deals and XXXX, year, large efficiency our added business On the Relations driving accounts, DealCloud private improve existing fiscal a a ADV private one Asia compliance which expand regulatory we management, who are some boost capabilities based at a Australia globally across Pacific, is list our new a and continued X,XXX business have the Investor launches Partners, into new to And we've and like manage front, opportunity multiple and Snellman, are presence our OnePlace in the we've of Europe global intake complex also net compliance. risk adding DealCloud and client the and selected we leading value Hannes to equity region. law client firms in with Capital, us growth In their in our to strong locations. upselling equity proud employees independent our and U.K. of revenue who Hong we Kong A Singapore creation XXXX Investor logos, over excited in mid-market to strong advisory long, who for while Nordic to environment. deal based of with Asia-Pacific examples And now in firm DealCloud. signed firm, European Relations. firm is pursue solution go-to-market using cross-selling largest momentum. implement conclusion, throughout The retention. in Graphite in equity but to turned significant

cloud extremely market differentiated are serving industry We deeply with an durable end our platform.

our and a predictable, expand and continued existing across clients model value see opportunity within to revenue subscription is add to both base. Our greater new broad deliver to TAM highly client significantly we

dedication global led adoption We have as Thank employee growth to whose especially and team very great cloud drive first public you our a thank clients, year much. our investors, our to teamwork all all modernization our across and industries. opportunity like and our successful these partners, to such Board, I'd a company. a

Steve, to Okay, you. over

Stephen Robertson

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

another strong year-over-year and noted, our John ARR ARR XX% cloud of we year-over-year. with our As XX% had up quarter total

reminder, ratably, of through parts: revenue as Before revenue few XX% a as SaaS in quickly on our to or subscription XX% is recognized new the financial go ratably our I can at Because in revenue, and is upfront support and fundamentals financials, quarter-to-quarter, time the vary our of a or revenue sale recognition. recognized revenue review revenue predictable I'd as SaaS revenue ARR it SaaS included timing revenue, renewal, recognized support and license is recognized sale and ARR as support of recognized more line. the two model. renewal. while following On-premises based license rateably in a recognition subscription like is Cloud

Okay.

our SaaS Professional the revenue services and new prior cloud upsells million clients in on-premises was revenue growth year existing $XX.X year $X.X clients $X.X was numbers. the implementations plan $XX.X $XX.X both period, Intapp's to prior software migrate XX% million compared Moving was as line over period sales to to and to revenue and license to to clients the up purpose-built million in solutions. support cloud our reflecting in Subscription the of with our time. to million QX million compared of cross-sells year-over-year. year-over-year, reflecting

revenue total year-over-year. million result, a $XX.X As XX% up was

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

fourth relative Non-GAAP new and headcount $XX.X Non-GAAP in year-over-year, investments expense including a million its well business the in prior quarter, product increased business and a of million profit program fiscal margin high in license a XX.X% marketing was line period, investments marketing, invest gross of the the fourth loss as markets. results, in GAAP planned expected traded increase non-GAAP a our to reconciliation a and gross we million, reduction the XXXX, with results, non-GAAP in in XX.X% average was as as travel was operating expense as Non-GAAP compared and increased expense financial and the sales, and in to $X.XX increased decrease and our being operating interest of in as cloud fourth in loss Non-GAAP company. services associated year $X.X growth. quarter capture in factors, our earnings a year-over-year compared as in our found increase expense year-over-year development our sales the per $XX.X of fiscal R&D and with increase Non-GAAP the expense spend fiscal growth $X.X loss million a margin along share between XXXX reminder, $XX year-over-year, primarily primarily a year-over-year reflecting growing roadmap. As weighted the headcount absolute to $XX.X quarter in a our our the function non-GAAP increases million, XXXX and business. operating was as expense Non-GAAP decline count. on-premises net of to compared due million, can of publicly $X.XX increase use an function for was the was reflecting made as expense G&A quarter we release increase $X.X product margin compared million of share quarter. in $XX.X business, the the as increased to to million $X.X be with tables. GAAP supplemental of million, several to $X.X as support our continue million marketing to a was Total press financial subcontractors

Cloud XX% ARR XXXX, XXXX. ARR At XX, year-over-year our grew the ARR and million. shift cloud XX% to up for to $XXX.X $XXX.X business June to full-year year-over-year our total ARR Moving market's cloud. cloud-first million. Total the reflecting to our year-ago, represented grew of ongoing from a results focus fiscal XX% XX%

and up at which XXX land expand than year $XXX,XXX more our had prior of the in and XX, from of to we XXX than had clients, ARR XXXX, period. execute X,XXX continued model We more June a

XX% the XX the XX fiscal of ARR we the of XXXX revenue more clients with average more million at to from subscription adoption This year decrease continued in of renewals an than was from increased increased the motions, year-over-year our year reflecting modest line to increased revenue year, cross-sell strategy rate license and XXXX. we primarily ready. solutions. end Due cloud when revenue revenue $XXX addition, in in steady $XX.X and up cloud license than Subscription from year-over-year in upsell net and average our increase $XX.X strength of up to in to fiscal achieved fiscal of $X a of than million our of Professional more retention in total XXX% clients XXXX. SaaS $XXX.X migrate at year-over-year million to was to and end sale ARR million, revenue had are business. an XX% million. XXX% the services year-over-year support In legacy XX% they fiscal reflecting the clients

profitability, gross full-year be note I results. discussing margins, non-GAAP Before please and that will expenses discussing now

support, services of a absorbing as the cost support subscription million, going mix our resources and a of the revenue. and in million and of invested the $XXX.X growth we while As prior $XX.X operating increase was non-GAAP change year-over-year in in Overall, results, along GAAP release from between results, be was gross and the year XX.X% GAAP margin financial and supplemental with Non-GAAP financial our as its non-GAAP earnings XX% result reminder, tables. a found can a in press the of reconciliation of public. down business, license SaaS our a the expense of variety

operating in interest net was to per average fiscal the operating a million in share $X.XX $X.X loss to XXXX, year. the fiscal weighted reflecting in and XXXX increase as fiscal prior primarily as loss share result, profit account. expense reduction an an in non-GAAP million a compared compared was $X.XX $X As in year-over-year Non-GAAP

the fiscal with equivalents XXXX. to fourth $XX.X compared million Turning ended of balance the end at and $XX.X to quarter sheet. cash as million in We cash the

committed of basis cash we as in flow, XXXX for XXXX growth free terms the cash cash business. In an free million for was our on positive fiscal $X.X annual flow fiscal remain investing compared as to unlevered while million flow $XX.X Intapp’s of to

Now turning guidance. to

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

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

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

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

Operator

Our from question line first from Suisse. Kevin Instructions] McVeigh the [Operator of Credit will come

open. line Your is

Kevin McVeigh

discretionary at I if some It the powering the much revenue you XXX%. exceptional congratulations sure that, what's because that. things interesting, Hey. the about think with I the more up law like could if and obviously from slowed came are folks just like clearly tie the really like the around just numbers, in you And of retention, Thank picked right. a IPOs, firms net you things I'm or and on through parts up bit seems maybe that have business XXX% little so start that would wonder some of and talk maybe M&A, in – it results but just of outlook.

start maybe understand what's a that if driving So help us we could little bit there?

Stephen Robertson

Sure. Kevin. that I'll take

were all, of little yes, of a First we north XXX%. actually

we a as range And was the more quarter our than averaged said bit we for year. or two raised we what a XXX% you think little remember, ago. may I

it's of the business, I I right set both users. of of new get it's We've of good now. cross-sell mean, in is the we really sides of financial a think two. business, and a we functionality. strategy the in upsell typically in well business the the sign. but I upsells drivers of cross-sell pretty have it least services driving feel motions a in and and land is And working in in professional recently, lot both services balanced that's leading The and is that – part the of new capability just at terms about some more both are those expand think what's strong And business. business, this those people typically

Kevin McVeigh

what queue. mean, really that about little Really, we And gap then, terms that? I of of of the then think the can a from with talk billing that. one acquired IPO, parts from I existing in there and be remember associated any I'll a Is and way Billstream revenue can was back extrapolate you across the ultimately exceptional. things then you bit about think the potential to when the And was as base? I your offering just and client that there get it that the into like then

John Hall

Kevin. take… I'll Thanks,

Stephen Robertson

John. ahead, Go

John Hall

you're that we and client do and right. This numbers. prior development area that But we was generally was we and closest services had really you that, take of Steve, partners then identified I'll very we ours speaking, from to had the can actually client-driven. that for, model the who an IPO knew some acquired one concept, in to this demand similar our technology a

clients they're of what history we're process, recording for are call We've – figure this one step the which how very It the moves very pre-billing finance the recording they down the the AI firms – to the get helps line towards their us and in bills supported Intapp category. this. out And about extends capabilities time long the to using going paid. professionals present operations time excited the had who the area. being strong platform So a us and in of

very expansion capability So it's land concept. our it's of consistent with expand existing and and an an

Stephen Robertson

a just would add, modest Kevin. acquisition, Yes. I And it's relatively

near-term In We've the this, good are would we this about for our terms the and impacts of we size, thinking it. the some from it's down from yes, into expect combination. positive things baked and optimistic but our guidance, road,

Kevin McVeigh

Thanks and just job. again, you. great Thank

Operator

you. from Koji Thank America. the of Bank Ikeda line from come next of [Operator will question Instructions] Our

line open. Your is

Koji Ikeda

John. Hey, Hey, the fiscal on Thanks here. questions. in finish on for giving guidance you confidence, Steve. Congrats in the year wanted the I ask question taking what's that to confidence nice the to XXXX. a really a for the guidance

You of the that fiscal the macro recession fears data into all you did out midpoint? talk But growth logos, guidance XX% in rate new prepared and a deals out hitting there on not to great points essentially remarks lot expansion momentum the issues an the even XXXX. only you underlying in and giving absolute the what number, there, your at raised confidence from the but is given

Stephen Robertson

do I better the truly look happy we're visibility seeing it across some strong opportunities mean, out everyone Koji, John, of the are put subject feel in about our us. the to in the adopt in chains. in yes, there's a I equation that could and board. is, maybe start recession, really business oil year for We we shocks supply We of clients to business and make themselves has some terms the concerns our pipeline world logistics, well and I'm them as doing the you are Well, our affirmed. – is And looking certain and particular, understand. are, have field the to and really into and parts solutions we're not pretty our But aren't in factor

of good about happen a pretty across in balanced certainly guidance. scenarios this really we're We board. So opportunities good just feel do. might about the directions what run lot and seeing We

Koji Ikeda

Great.

John Hall

add… only would I

Koji Ikeda

Oh ahead. yes, go

Sorry.

John Hall

past a add we looking market many as only the the would of the inflation I the relatively than and XXXX that the at effects grow did But better bootstrapped other business. in downturns we on XXXX, has is business. end recession and weathered through of This durable recession are industries. much possibility successfully

helps services think our positioning and I to towards industry situation. the part its us So the financial of that going it. professional We're in watch general

Koji Ikeda

services a Steve. gross bit Got plus, John but one of looks Thanks, a strong about like still margins little pretty and it. margins. thinking XX% drag here, margin, Okay. And subscription at services follow-up gross on just overall

So in kind we business forward about going guys. here? of think how do from Thanks margins services the

Stephen Robertson

to that for question, add important I’ll Koji, it year. a very in is ours focus coming the Actually Yes.

those will We better to year – going margins as are get the goes on.

very talked on a that's of built book we And are a about the services year in we expect much We business. place all of focused long having so to we do for margins and to now while that We've organization business capable drive and well. that. services and bigger big managing a feel are consecutively better at

So focus that's a key for us.

Koji Ikeda

Yes. Steve. Got it. Thanks, John and Thank you much. so

Operator

from come [Operator Matthew Kikkert the Stifel. next will from of question Instructions] Our line

open. line Your is

Matthew Kikkert

Thanks Parker. questions. for taking for a on Matthew is my This lot Hi.

want increase the X you saw NRR I past year. really to the basis continue point off, First over about nice that talking increase

are applications specific also mentioned and there of are products, but a as You majority that expansion? upselling or any that there, cross-selling drivers verticals driving

John Hall

Matthew. Thanks,

Stephen Robertson

John, to… – you I want Well, did

John Hall

Go ahead.

Stephen Robertson

think services. say, to I professional different let's financial is a of in places to different land actually it don't services call particular. and say as places. therefore I between was I know, I going a balanced in And wouldn't and in out tend we – just fairly would Yes. number anything then number of you expand

people ready it to valuable continue is to that the and market land as I makes little solution solutions anything bit as with particular. add easier do, sense to are of our but think their My to aggregate we and set us. an our view which sees and is and It I positive, an buy is that business maybe increasing our a quicker percentage call cloud out that to aggregate. wouldn't

Matthew Kikkert

pace secondly, cloud then And impacted I your clients, wondering been the any migrations it has the of of macroeconomic or any if steady? great. pretty conditions Okay, for was current have

Stephen Robertson

might Yes. more be some our number both pretty new some pretty to cloud business. when quarter-after-quarter at and functionality, is time what clients. buy the The want been we've had that's them ready that's some call and that discussions on-premises been But They see business, often steady we doing everybody, makes sense migrate They cloud migrations client hybrid have we the our some we cloud. and in a in have with expectations of to example, to clients cloud steady. modeling the cloud to and a for with are Typically, now everything buy continuing. the it which line

Matthew Kikkert

for Okay. quarter. questions the on congratulations answering and Thanks the

Stephen Robertson

Thanks.

John Hall

Thank you.

Operator

of next Our question Instructions] [Operator you. line comes Brian from from James. the Thank Peterson Raymond

is Your line open.

Unidentified Analyst

are is seen Congrats This was just Brian. to any end upgrades, you start a or office. back how the great take bigger returning quarter. couple guys week your projects of kind to on on there's or I banks on migrations thinking if to of cetera? they're that's that they're looking whether curious the impact kind bigger [Chase] get this office announcing on if banks for level, expansions, and to guys. high of out Hey We've et

John Hall

Yes. That's question. an interesting

come the effect their asked experience of mobile adjusted that days how say started support needed some a will the hybrid that change to home their seen highly to think week. have a in far. them folks' whole have to We COVID a buying of technology patterns even five don't really frequently the environment going work ourselves. so from in back the I a we've folks And in or experience. obviously of office more to I ripple banks expectations

a modern we're just had for chalk a of of because that people home is not to from get firms to they and lot lot to from mindset working still they industries. infrastructure a getting across coming sizes their had instantly ago change the the to a demand the all these few cloud, of so this was years of the that satisfactory And get

see a to model think generally asking the the as shift seen I so but we've whether to trend. that's helping to all the demand And work us the are way. has, so And or from total board, full far, in very hybrid of across back people time go going regardless we'll what people home strong back office potentially a

Unidentified Analyst

remarks. prepared motion that fiscal I Got you then about Thanks. in hiring And was curious it. one the year? had sales in you're initial the Singapore how to Makes you sense. thinking [indiscernible] building your target out just go-to-market mentioned follow-up,

John Hall

think don't So I specific breaking out there. numbers we're

been referrals, Singapore serving more word that from continued has the we've for of place to mouth And was way business some our a has and us Asia, the to grown of which past Australia, decade, Asia-Pacific have general is to. in of as parts market other We over expand that office and natural the the encountered Sydney, into grow.

put We've So clients there we've won some there group office. opened office opened our before an we've we and actually a there.

And us. of serve across region, now location. demand And we've to helped for that going So got from the part is we're Asia-Pacific that's us. good exciting which

Unidentified Analyst

to guys. on Congrats Thanks, hear. your Good quarter.

Stephen Robertson

Thanks.

Operator

Tillman the comes question Thank [Operator next Terry Our of Instructions] line from you. Truist. from

line Your is open.

Terrell Tillman

Yes. Can me? all hear you

Stephen Robertson

Yes.

Terrell Tillman

had from and as and John, me Steve Hey, Yes. congrats two well. David, I questions.

pipeline, ARR that And year, that. of to step your expanded continuing there the First got should seasonality? you've the question from cloud we products, think you're a going with numbers, step XX%? larger the share follow-up had with cloud the up obviously given but just you a what after have think related growth, the ARR, deal about cloud to could have XX%, market And is of the law is up, ARR, about, about tremendous the and momentum then continued can anything to kind I any the how through nice opportunities, to how

a think I became three-part that question.

Stephen Robertson

will modest any forward. as there's meaningful I'm a those to that, there's every XX up top seasonality. continue regularly. The And and We're will some year on from Well, we keep bit. happy mean, step quarter I of I new don't up migrations think little discussed. cloud regularly all selling and doing every we've start. as moving go percentages we're then

the a of sequentially seasonality large we're you cloud may the yes, say, And have pretty business. had momentum numbers, law but a professional of little anything We don't sales bit in history generally having than march pretty services, speaking, other this as the should now in see we stopping of you as remember, regularly.

expect good there. So we would continued pretty pretty reasonable – progress

Terrell Tillman

it serving real And been today mean, but hear new Got be share Can kind just this legal they potentially asset going things and I opportunities of with some into flagship brand have rank product you. ARR? just of Okay. area markets estate and real kind and Thank I've to you maybe those relates as on, major different it. in-house investments you two two kind individually impressed how about markets, could stack market. of to cloud then us, needle moving

John Hall

Thanks, Terry. of both We're them. excited about

some equity just get many over the of equity On And you years, that's classic started mainly in of category firm real private of the of largest to when the the equity DealCloud those. enter firms, up market, estate investing estate side, firms. another real strategies different private which the historically, and is moved we've got adjacent. you the one And doing a is private up business

help similar asked some you we model graph us in of really And from as and investing estate the too? it, with the real have us, how we can for as supporting industry it that we looked the data real estate at strategy with that we differentiates whole the data architecture the built is, model And specific largest clients that discovered industry was our the well. into perfect system CRMs traditional them coverage

space real in it's investing capital. private solution, a to information we for a to So geographic once huge specifically their had a the of these to estate information, create to able that capabilities And example, estate in. at look that like enter firms multi-strategy to invest of to don't have, some more able more including in real we bring the had able business. estate we map firms real with were do generally, We whole And we change specific the but equity private we large some to category were that. component well-rounded were and some data serve

private equity area So is fantastic is that. of it's the a serves asset that just a way markets. for private have public management system that model growth the we And traditional versus model growth a

of we forward. So there's to itself, and is within that, more Private we growth still a that time. a long there's for going lot equity growing there be going think can build out

legal the long careers circulation lawyers in-house. section here of and excited on law then working firm. there's an very had Can and deals use over on that we've us. corporate demand legal, firms, we're So to And working said, large a disputes. folks. that's in in-house expansion professionals firms a the that large And deals, – more serving the very more a from And the as have departments people about these in back advising turns history law referrals it in-house are partnerships too? the legal of who we oh, law of it out and the deals from And and I Intapp my I used for

the underserved years. and a good And expansion specific we're one have to so architecture industry that's this been this a the reasons actually market in why that the about working industry adjacency. examples professionals And a advising client-led And space we deal types where we're areas. both of because they're quite over we're that underserved chasing it's data a significant natural SAM just deal on market whole think serving, advisors professionals working second them getting of these the and TAM range these of the excited where the is on across of types

of markets to So those we're can that we the started each in do in addition about we what in. optimistic

Terrell Tillman

color. That's great. for the Thanks

Operator

Instructions] [Operator from you. Oppenheimer. question And next from of Brian Schwartz our Thank line the comes

Your line open. is

Brian Schwartz

Steve. then for in this just you specifically, thought the seeing just three talk I the of formulated one when cadence John, then more facing for a was it the you entering year? of months pushed half kind just you're given regards kind bit to that guidance or Hi, issues Steve. of guidance. in for then And Steve the about the emerge of pipeline Thanks. and for you number pipeline wondering if your curious more what what opportunities Yes. calendar of potential just say, taking year. you're of as projects in the and or top of coverage, my wondering that questions Thank you John the conditions you question here John earlier the ago One the if little given this for all the seeing funnel, same even if that macro about the the second is saw we're evolution are you afternoon. guidance was could the I

John Hall

Brian. Thanks,

So we're pipeline watching the carefully.

otherwise. but haven't not seen a Obviously months impact far your number change specific see we is cycles there's so or have gives seen watching confidence strong the the deals three to fundamental on happens, everybody change here. and an us some of sales some that question, macro in the and it last from We or economy we'll demand no, what

Stephen Robertson

here that in in And guidance, terms anything don't Yes. terms we think I coverage. of Brian, pushing are more no, of

guidance some here and – we feel is we've develop. more pipeline pipeline said, been that John more we've are which are it's to opportunities think and is business just comfortable I the starting for way balanced. while, new with got here as seeing that a perspective in moving why we for seeing momentum part our And

to So, comfortable we landed we pushing think at a and of about out there but not feel we've thought here and We've all. definitely, – in no, certainly look, place so think, with, macro we've work scenarios. tried necessarily I issues run the – through some

right feels way business the Just this the it is is how now. running

Brian Schwartz

you. Thank

Operator

turn in for further to are I'd There call John you. remarks. any the questions the no Hall like to closing over Thank queue.

John Hall

Well, especially a kicking all you team forward to weeks you eight us. public just in spending some the helping to to and to again QX be say for successful whole talking company learning first look us year XXXX for thank covering you time fiscal off as with We're at and time about report. spending like with all here. some some us We'll to us. execute, momentum excited strong to for I'd thanks the

Operator

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

a now disconnect. may great You day. have Everyone

Intapp (INTA) 8 Sep 222022 Q4 Earnings call transcript