INTA - Earnings call transcript Q3 2024

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Operator

Good day, and thank you for standing by. Welcome to the Intapp Fiscal Third Quarter 2024 Webcast. [Operator Instructions] I would now like to hand the conference over to your first speaker today, David Trone, the Senior Vice President of Investor Relations. David, please go ahead.

David Trone

Thank you. Third Financial Fiscal Intapp's to Quarter Results. XXXX Welcome

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

required forward-looking conference During of our quarter business, or documents are for the forward-looking call, and statements actual such provided those of regarding guidance believe fiscal aid the financial revise we available Further, anticipated also the publicly other performance trends, could materially except this law. may or our course and will we expressed including to statements. full cause Intapp our and strategies XXXX. make forward-looking fourth year various on assumptions and management's risks in we made described certain SEC call, are statements, statements non-GAAP and views to forward-looking are from differ those that that current update subject results. uncertainties, based discuss and and on difficult as to of by including understanding in as disclaims filings of by entail predict any These implied today's metrics results date today's any to certain obligation expectations our

all for remaining discuss we financial our are non-GAAP, and today except reminder, figures performance a revenue As growth of revenue and will total obligations.

conversation exhibit the on John. which is With available hand that, along an its as to financial website. and supplemental tables, Our call to to prior non-GAAP available of release and our presentation, over the in financial X-K results, supplemental or reconciliations website GAAP financial financial found Form GAAP furnished with the which a this SEC with our to earnings I'll measures can today's be on is

John Hall

quarter us We share the specialized In afternoon, target provider for with we and Intelligence hosted We our Day. delphai, you for filled you recap partner of for results as held generative exciting we our today. of and events We Applied quarter. Thank you, of needs everyone. successful had AI designed announcements and markets. I'll Thank Investor an our David. new AI that acquired we capabilities client AI our Good updated fiscal third the release QX, inaugural the We branding. Applied events. joining announced

We up results of year-over-year up support of logos million. new and million, XX% up XX% accounts represents our and In quarter, $XX.X acquisition the revenue also revenue expansion million, Cloud QX, our now the and total ARR through $XXX.X the world. drove strong of grew existing XX% ARR we earned the In our XX% cloud around to year-over-year. of year-over-year. $XXX.X million, total $XXX.X of of SaaS

combination to TDI within applications. domain of collaboration optimize We're Before International, Data team into copilot. last groundwork partner solutions advanced have builds pleased facilitating by and of quarter I deeper Intapp expertise AI Microsoft and TDI's a the Intapp. will just week, may that announced We collaboration enterprise believe the implements and highlights, technology. in acquisition go we that long our seen you of for tools more welcome time third clients' our the tap Transform use the to the work laying

unveiled room-only QX we in Marketplace the opening commitment our further I'll innovation. New the celebrated which followed strategy, product standing markets to York. strengthens day ringing highlights, Now Applied event. to serve. AI our Intelligence client at Investor There, Applied turn our Intelligence February, beginning we bell, vertical launch NASDAQ In a by Day, leading After we for with held we

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attended leaders with partnership world's ways. accounting, to prominent other Summit in Our some law technology continues Redmond. and CIO Microsoft consulting most add second from annual our firms, in In the of value March,

behaviors today, innovation, were move enthusiastic into and as era. leaders Microsoft face our management market innovation event, development with executives at to of understanding potential generative both connecting our help new be their Attendees and We findings to the business identified change revealed to they activator support activators, these last daily a business the drive partner-led networks practices their dug the AI signals. using launched key best we this Insights. about firms. part be studied successful conducted X-day we experience their strong CIOs, needed and activities. originated each developed Using research for event During more event. continued to who data solution as solution consistent successful year and Returning behaviors including initiative and into behaviors issues that habits this and The success the that in The AI-powered the habits tend between the DCM these development Intapp to more and we The organizations. markets we behave who launch from facilitate professionals in research people for last most professional with in helps conscious with DealCloud research, make firms. and professionals habits to

cutting-edge collected, and structured is that where the shared We more vertical our is talent. as response, critical models even form AI Berlin-based applies was we Intapp data moment Judging is ensuring has believe with rich and AI already AI a Reinforcing to provenance. the take era Delphai provenance Applied foundational of it Intelligence generated, next help its and presented delphai's generation professionals in acquiring engineers our requests. and conversations strategy. reinforces is understated AI a who that big and creating AI interest be this AI and organization to across a AI an accuracy data can't our The who in delphai, Finally, and firmographic are how positioned critical, our activity, only to step public demonstration augment we advantage Intapp's positioning tech will well. our further offerings of brilliant strong day. and make and base of was content AI well led that data day. clients meetings new groundswell Applied AI spurring brings already an Day In more and forward big delphai researchers Applied was The of promises a acquisition each industries for significance our more through a Launch from team client foundation. scientists, for active of strategy. data, stack trust

Okay.

I'd our like how to we're Turning reach. a to base few examples now just client expand share and wins. client grow to continuing our global of

are sprawl, They planned including we collaboration to asset collaboration go-live manage consulting with and I'm They LatAm European now across a automate thousands is purchased pleased streamline and exceptions governance American Intapp to now APAC, and SharePoint solution. Teams North live team share new logos, First, projects the and EMEA help their within archiving. this with our client on our teams grow on to selected base proposals, year. leading continue and of managing firm who Intapp seats that

and workflows. Private of several DealCloud selected to clients after and our to Additionally, specific became legacy who to specialized equity few Ford, investment firm, out-of-the-box CRM DealCloud purpose-built horizontal and coverage, use their ease assets manage industry-specific DealCloud other examples focus investments the asset who their industry DealCloud in out their over having Capital, legacy use due and use Generate of and firm's industry management Fengate, for who deal brand firm, meet their -- centralized firm system professionals new to our of to team. and real ability DealCloud needs Flexpoint their intelligence. this: on replaced features tried with which to QX, its selected lacked. investor market-leading unsuccessful. capital CRM of has that support expertise firms the needs, based won solutions markets ease A the and proved a previous

success continued Additionally, cross-selling accounts revenue upselling net in drive to retention. existing and our

banking Perella compliance already conflict activity sensitive requirements. around investment added Intapp Weinberg, security solution to information, create to For and client who user SharePoint and example, will firm, barriers our the live were and use manage regulatory Walls permissions firm's track own now Walls. and necessary The firm maintain on risk

with a to As Director and Warner's conflict nurturing with relationships with the growth and the support of & current and to law firm that a also deepen innovation solution ], of Marketing, partnership of solution Microsoft of like as with the time-consuming, we Tom navigation Intapp investment [ the and Norcross will its upselling, Judd, networks attorneys to to Development example the automate part Previously, error-prone innovation second performance, our their strategy, they their our Smanik, clients, of firm-wide added business. will work while And clients third accounting the strategy. long-time ], across encourages specific of we're easy-to-use employee intelligence relationship one management, firm, and outreach the we're Microsoft cross-selling platform. by points attorneys new their In are DealCloud time strong lawyers tools how included course DAC align systems with largest shared the use its they of our growth achieved user Director capabilities, deliver their existing third DealCloud. XXX and duplication, attestation on in process Warner, the of modern in believes require They Business example, that continued compliance collaboration Beachcroft added better drive data that facilitate help looking had IT will to auditor quarter stack is of source Time Intapp He AI U.K.-based firm, its which a law selected ] firm. David the to [ legal leverage firms Aird, to Intapp providing partners solution And poor Intapp and DealCloud that all [ firm's to and firm already our pleased multiple our help example, believe and client process. in meaningful over is doing one data Copilot. the large independence relied world's the quality. offering in innovations proud quarter. entry Microsoft and touch work believe level safely investors manual conclusion, final said

also poised and thank our we teamwork Board are our AI opportunities our Applied Intapp Intelligence vertical and our dedication. AI that the in the you to our capabilities. our interest their about are all and for optimistic leader our very new always, with Applied pleased With We industries much. Thank continued the global to response be and with strategy, we team like growth we Intelligence well investors, clients, partners, our believe serve.As I'd them. for

to Dave, over Okay, you.

David Morton

Investor thanks, this Thanks, all also in our listened who and for participated gratitude inaugural past to Day or joining John, my us February. to everyone, to express today. want I

clients the $XX.X base at embark revenue cloud QX further collectively quarter on-premise year-over-year, renewals. for and We on ARR that extend $XX.X end, us year-over-year, that this large in fiscal third achievements and strong To and future company. within new from support was clients performance, due both X as up of the opting million, I'm largely customer opportunity clients pleased our cross-selling have XX% least a reflecting expanding our exciting to market enhanced report clients and cloud of about motions. XX% sales are thrilled and strong was our to million, XXXX up These operational With existing quarter. growth multiyear XX% driven of to trajectory by of an and said, efficiency solid leadership couple we SaaS upselling module. our to revenue beyond. sales and license expansion Subscription position

to growth our was with deliberate will We marking year-over-year rate transition work the a clients we multiyear coming our cloud services Professional increase. temper year. as our to shift aligns revenue strategic process. on-prem $XX.X This X% to continue in million, to renewals deemphasize their with value and XX% year-over-year, by professional ongoing growth license The time solutions to was an our expedited success Total million, further our revenue of services. of quicker through industry of $XXX.X primarily to sales contributes clients solutions revenue. subscription up implementation realizing cloud driven

of presents Revenue a utilization to invest platform opportunity Our remained U.S. XX% international revenue growth our business expand approximately for and QX. accounting total for from of the in operations fiscal robust, generated beyond our international

our traction is further pleased and Our of partner network. our onboarded recently influence sourcing gaining partner motion significant new co-sell enriching have the of I'm that some partners by to driven adoption and products. we announce partner X our

in margin year was total. Non-GAAP in Additionally, prior as to XXX invest period. we million, as compared our were million to growth. the ecosystem to year-over-year $X.X our partners, expenses an non-GAAP increase existing QX XX.X% with further continue our development market strengthened product support even in we to X and XX.X% have operating go-to enhancing $XX.X relationships gross

or cash quarter year revenue. which third for the and XX% $XXX.X million in in exited operations flow we equivalents. $XX.X to million cash the million diluted focus defined EPS of $X.XX flow, the continue efficiency, our was operating Free to of less total was fiscal period. from as We with $X.X our compared $X.XX period. capital quarter As of to non-GAAP year compared prior as Non-GAAP on $XX.X expenditures, prior was the is XXXX cash profit the as our in operational cash third million quarter

of up Cloud to Turning total up ARR previous annual XX% executing year-over-year, Total we model, XXX performance million, X,XXX obligations was $XXX,XXX, quarter had our those, XX% and were key was our from least XXX and year-over-year. the clients. recurring year. to expand committed remaining the up remain XX% over year-over-year. land revenue among Overall, metrics. ARR in up concluding And $XXX.X with at

and ability XXX%, to within expand range retain to our revenue business XXX%. This metric continues our steadily with existing a retention track to XXX% customers. was net which rate key Our underscores of

in QX NRR FY was cloud Our 'XX XXX%.

to turning Now outlook. our

weighted to profit 'XX, total support in For $XX.X the SaaS million, of a results fiscal range $X.XX count $XX.X expect the non-GAAP and million; diluted of non-GAAP of million $X.XX EPS $XX.X revenue million common in share million shares of the outstanding. quarter $XX.X million of to quarter and approximately we range XX between and fourth for $XXX using million $XXX of operating revenue and the to

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

range the We $XX.X to in $XX.X of you, for diluted $X.XX the operating million profit operator. also fiscal range million and non-GAAP call share non-GAAP be the XX $X.XX approximately and common outstanding.Thank I to turn million to year to 'XX weighted expect count in of back EPS now shares using will a of the

Operator

will At you. America. question The the with session. Ikeda this Thank conduct we comes question-and-answer [Operator from Bank time, Instructions] Koji first of

Natalie Howe

I done sales Koji. is you to have your wanted levers guys expansion and ask because This the Congrats a on for marketing. really job Howe especially nice in on margin for about Natalie quarter. there,

and Going forward, will investing in margin expansion? AI you how with balance the platform

John Hall

the a of excellent team how launch moment an platform. AI more this to February in come far have And moment the was strong communicate this and throughout to bringing we that market advantage think had AI take we Applied generally. Natalie, that opportunity the I to generative AI in in executed

helping quarters I'm team special proud can we do Applied the of saw the so there, and for what AI. thankful this the communicate and to market with so for really product and launch You clearly team quarters us and work culmination of

So, to and strategy out capabilities ongoing applied see continue of more the under you're the throughout Applied going to bring products. beginning generative roadmap more and Intelligence that an AI as to all this of AI

Assist In you talked additional about also platform. fact, talked about that product for Intapp we Intapp brand, in see but of the components Assist the DealCloud, we future, Assist will Intapp the for -- fact the

we talk a do to the technology grow I said, a Applied we're Day So, getting reasons. increasing bit as this could continue model moment going Dave, demonstrate capability using leverage. throughout variety committed as and about roadmap little platform. this being you That good we're AI at think the we we're of scales. to that a to more shared Investor for And of whole some that of

David Morton

No, you're our enhancing we absolutely continue to diligently $X really correct, we that respective as We've John. billion own on the just XX. within attributes February operational working teams, scale to efficiency been the discussed

marketing So, key as Fin well product G&A. P&L, sales engineering, all that you it our of can [ type, across view as and ] across be the whether and

to pricing what really have product feature With as So there's we we forward FY respective come that respective our more monetize can this with hard as in to our well current we've working processes. sure into make to sets levers and there respective the and manage that packaging quarter and respect 'XX. those these and you here we brought teams as offerings, been on own

Operator

The next UBS. question Kevin at comes from McVeigh

Kevin McVeigh

opportunity. KPMG? alliances the comes to as I this just how way seems well. we which [ a my if well quarter? of to any but really maybe Microsoft nice wanted Add who the work some you is the to the as a as scale, obviously, David, you could. there And helping like some think is Alliance be in was to leverage revenue starting and from there know continue ] the for, don't congratulations through there, Because drive see are I them implementation KPMG start much And we the terrific outcome revenue. frame should it today? is on leverage go that of saw

David Morton

Yes, for sure.

this But just about we respective a and more, become starting But talked we that haven't as opportunity we'll us. early to but the that to use very we're and they pipe know innings. it an continue or accelerator partnerships motion as discussed absolute is like more these forward. the We for enhanced going still brought,

So...

Kevin McVeigh

then that, Gen And when given we the to timing going opportunity about how on Great. a more are has think think AI Okay. the on-prem I broadly? you Gen you AI perspective, guess, just been about from how with there balancing on-prem should how much those emphasis those renewals,

David Morton

It's a... balance. it's nice Yes, a

technology you fact, want to In access cloud. need newer you in the the to if be

motion scenes, just and back But around clients that team into provide And some is or line accelerate what pull to that as that so, and motion. supporting more very and specific FY respective in narrative that provide annual the more more it operationally, with know to 'XX, come item. trying it's behind means hard push insight the a the When working FQX their into will go guidance our cloud. to we

Operator

next the And Enders Citi. with Steve from comes question

Steven Enders

maybe you're quarter? as And in of with guess, to the of guess and environment. it Okay. we I SaaS I this changed the financial weakness line then, in like execution Great. seen I services guess, environment kind out I the would just made versus maybe guess deal think hearing what what more the you're line there. start, support well, it's and there last and maybe hear be And of the in how typically kind to I good some seeing macro

that there kind impacted to just that to the of may -- quarter anything out in here? have So line call

John Hall

or not underserved investment not that because and so, their benefit type is are of organized working basis Yes. other selling with benefited the transformation deals do they from at look in a the but way opportunities that on they expertise. work industry widgets a through market these Steve, as partnerships developing of because Salesforce, the are a clients and the we did that movement opportunity industry traditionally meaningful special digital as every firms

TAM think we of things across firms that and script grow pretty significant expanding as And people new think client meaningfully to Investor this significant are really talked we space examples and and business. got we very one driver to so, for them is of the some now, us excellent client expansion. and we grow is are how overlooked. of of be the here about the platform, the have strong I a kind in acquisition for going Day SAM here emphasized our underserved us for the space that both We've in And that's the their growth footprint on

In more are terms we this. successfully bootstrapped about think sell the that if And well. the variability macro, have for you of talked recession buy call that well. through business We market services firms some have a potential about other and stable the and actually our us, in and there's do turbulent I survived some on. that. the talked law we it's there times, probably last with talked always accounting that some through any always very investment professional more is We all all well we've we're script business. areas the a the them banking, and of place firms on than of very the there them we come shared working The turbulent way very lot firms that that to did us. one the for through More the said of of But still we've XXXX about here firms because periods do of actually

event brought highly how they way them we're but think Applied recipe their conversation I empowered trying do to with very these And for I setup growth story Intelligence professionals tell. in good got And pretty for a How out. try works to they cautious we've be far that are their as launch prudent, how as their forward. we really out for We're put as marketplace, we so goes it's that going a always, to of to and actually this firms looking AI do it? continue of to specialized with in many that's us So, that take to whole to industry us a into do get roll good AI advantage think and regulated. Applied figure a a

So, we're encouraged.

Steven Enders

guess or you are Okay. are Great. coming products -- kind event, seen I increase That's off see off interest that of interest most any there. And you're context I to seeing coming customer of And particular have in an of there groundswell the I helpful think then a that you of guess, the where solutions conversations. kind beginning most of mentioned and that event?

how or of I the conversations line you're impact time of potential way of So, any guess kind viewing converting? to frame those kind

John Hall

Yes.

the AI has the about one helped or everyone is surprise, about I has the whole that a in the potential of where more, practical things generative of kind a excited with us, of So do obligations. super and really is not regulatory and talking think world year but and trusted for out this that's a been consumer This industry the and we're trick bring set it take their is a looking real way. because they've with our compliance do in to specialized us experiences. they suppliers gotten industry here users in this to try you bring in the opportunity is a What and a trusted the the for this out consistent and the we they of finding of these real AI solution can for get really practically strategy people value that industries generative and firms of like are of that advantage blueprints the data how our is to knowledge workflows how way answers

are a of more having out very provides exciting of Walls which helping DealCloud, we've These this. think is conversations across for with you'll different had response. across different do. the are central the firms and all strong to we're And applied DealCloud, a our roll And that the aspects Intapp as continue rolling for capabilities conversations fact, across the we for data response, it or the development. out, to what And multiple foundation the Intapp aspects firms platform, experience of very lot same Intapp firm seen board, component the AI trying we're which bigger these business activator of the AI I applied Assist so we've of in bigger solution, it's that a with see whether areas solution, good Copilot become

this standpoint. times these biggest the just had awesome. be a of one exciting marketplace. was release us for did I very So get the all products bringing was to can't team from quarters to about we out. into the It what enough ever It say

Operator

comes Lane from Parker Stifel. next The at question

Parker Lane

Yes.

Looking is to tracking you naturally bigger the ahead. last guys reflective more that ARR product year, you. customer customers expanding just come initially? looks the compared who you're adds long-standing are from with landing it Or at of is majority larger or to like either continue with John, that clients $XXX,XXX of slightly

John Hall

Well, both. it's little a of

to that We a up ours been longer they're bit bigger enterprise you of deals. also of move with longer a number have accounts. and firms. take running, to They and happened. to But deals. even a we little little that is larger influenced they landing fact into the they of land by lot And platform that bit class when upsell bigger go larger there, take some of and the conscious the but cross-sell a component one are strategy are It's land

you'll will account, we land and move $XXX,XXX under at and and can too. So, number, expand over change that the see it that within

both of So, a that in bit you get little increase.

Parker Lane

deemphasizing over sort as you one Dave, in that. services of professional What's then, services, you a mind the percentage mix you of total that sort the revenue I real to your for mid- guys know business? the going of are ideal And quick. component Professional of long-term Understood. the forward do

David Morton

say should in would term, XX% of longer it range be the the I over or less. Yes.

we'll and zone, of here future to between where kind that that headed. obviously get but navigate facilitating the clients our continue we and that's we're As first, in

Operator

question Kalia, Barclays. Saket next The from comes

Saket Kalia

if commensurate and late, of joined apologies cloud recovery softer. the on dip of I XX talked new I'll being that in we've sort Great sort maybe a were little ARR in days that what call in postmortem that the just think what on kind in back QX. of I maybe we've of QX, had apologies kind that, bank investment I for to asked. net net you. new back these we maybe advance, so QX. as Anything to vertical of drove a John, the about here mean, see we look And seen then I'm ARR learned bounced what you've on saw sort to curious, compared

John Hall

we we came about budget some and the looking the of were deals And year, what some well, that the at carefully. is talk saw the fact Saket, management of that end pushed that doing did people in.

in So, help. that. cycle, bigger story, excited transition. have see deals, to come when the our making become we're can in, they as more particularly variability they but those earlier people for was large very to sign this are to they that committed little a part a It good their a really point, of bit And

So making the we're excited about good progress generally. that And it's a think there. more we're sign I

Saket Kalia

for of have net think us us Dave, of great seasonality here you just June my models? launches about for kind or new here ARR. to sort as great. I you'd sort the there don't maybe way there in you. of QX, that net or whether ARR fine-tune That's guide But brushes hear. new that quarter is to follow-up are our sort any That's know ARR it's in we give product we of that -- broad any or

David Morton

I monetizing Yes. John new one our we're history We're releases of on, had biggest was of Intapp. probably at in it looking narrated still as offerings, ever our how lot a the product think of

there but and market the of only the 'XX not about a us of for opportunity as as also FQX think And as lot us in and really we ahead client as FY need. so enter galvanize opportunity we there's well

lot days. a see and and succession to of seeing this continue But that or a what market to and in learned we puts XX of you're really off that. takes embarking come think into build more of ahead taking next kind there's so, is I us And and where

And so we put very we're again, be then going forward also to today. to here continue but plan as towards the drive prudent,

Operator

The next with Sklar James. from comes Raymond Alex question

Alexander Sklar

for John, you. the first one

Just TDI product acquisition, the collaboration on bolstering the suite.

in or large forward? you And delphai or You any of with product thought kind from on just penetration that more customer terms then, collaboration had acquisition what here? collaboration revenue the Is of the going does tell broadly? kind in maybe fourth annual quarter a contribution your TDI driving of color nice Dave, the this quarter. win financial of this us Can

John Hall

legal, expertise to and collaboration very us working we're Alex, the in several was have have time, developed long us. in technology about They including been of for a team solutions with from TDI excited they particular so, a joining actually markets, end partnership ours. for very our their with work

this in a segments. strategically market capabilities specific example platform our to great of is the bring So, expand that quickly of selectively using M&A really can to some

law Microsoft leverage XXX private the much to to way. which well. features our has and our firm an need over capabilities the helping goal get to or their your content professional really and market in a your firm just the a bring partnership successfully as organized is a Microsoft absolutely compliant investment clients that matches This of to out XXX as and very investment, bank that's and about that taken most a start capital manage So Microsoft firm the services knowledge you or in or

And we grow to so, our of us that really strategy. it's a very close acquisition component as help should that continue

Alexander Sklar

And guess Okay. Dave. Great. then for you, I one

the there over to whatever Just on been time -- puts takes frame XX other NRR, just year about and on is kind want I or a -- kind right to the to to range of since And you over and over NRR been XXX still aware based about you now the as what's look pipeline that XXX to any of months [ next you it's of? that it's other are for think think -- updated be ]. range just think

David Morton

and operationalized Sorry, XXX, about think But very unmute I much that's to the the puts within takes, those we XXX button. the as company. didn't

the on we're that math because real continue the think more is I behavior candidly to focused that's cloud and drive that NRR set. motion the quite

conversations lot of us our our additional existing so, that as facilitate an there as a or move we'll And gives opportunity well as to on-prem with -- on-prem broader our yes, to clients. portfolio cloud,

our of suites all offer we to there's I that of all saturated. opportunity fully is an really And still product so, think across our clients nobody and

a guiding here we us to so, of transition as kind of a view and more more -- just cloud. for post And we the more that as

Operator

is Terry Truist with from Tillman Securities. next And question the

Dominique Manansala

Manansala This is on for Dominique Terry.

if considering using that concerns And using you've regulated with industries. voice gen or So, product so these any or Copilot you highly wondering how previously Walls on that considering far within -- affected hesitation? especially tone fears. have and AI, first previously I'm customers it's this heard could been those how feedback common thus firms just double-click on

John Hall

really Generative because way issue One AI that really AI the People everyone do reasons. interested Yes, that going aren't this excited. we're these the execute Thanks, very has and era X capabilities in debating the successfully is People systems big to discussion and order have happen. and new what that's are The And this. to areas. point, use governance going of enable kind need whether and information in going to to work. professionals excited their transform in Dominique. markets Generative of about what the how your people to is end believe security the to to compliance

for our information specifically And these hearing are that of in lot steeped professional very governance, of themes a so, compliance us and firms. history from you're specific

category for what the information the based you that's have system firms information line really And you heard enforce story. customers need need end of semantic information have a really [ for might then defined us. me that Walls governance semantically where We ] an kinds [ that the us really professional time. with horizontal of understands kinds those Walls. this area in great taxonomy they're to a markets. a solutions distinct portfolio ] for we of long barrier So, in working These talk reference of been is, the that that looking product the you acquisition type issue provenance, these delphai about markets is traditional from in a for this And security well-established very of see

the them how solutions bring it see AI Copilot them other a natural we can Generative and to out could AI that for us roll help as people the So, very successfully. for year-end, solution Microsoft generative was

don't firms had that we at can do of we've shortcoming say, live excellent like positive the and firms a to just start place solution roll board, the without information capabilities. have had technology. you having So, take very put within. to this governance, we in the regulatory way a this, the we the be Copilot of given conversations like look to to we they their out that It's obligations not Copilot have able across advantage that think It's Copilot if something

we're about So, excited go. where this can

Operator

VanVliet Matt comes BTIG. at question next The from

Matthew VanVliet

to lot Obviously, fully the releases. these recently, of launched AI on strategy a monetize curious Applied was sort just but planning you're of product how

within about premium there, SKUs what value are customers enhancing out stand-alone of existing that, sell this product about number to higher you're that that AI? customers as more being think should throughout wrapped Or to sort of is being offering of to Applied really the able and and on this sort NRR having able cloud now? this modules push more anticipating more the You're product to existing take the we of year

John Hall

Thanks, Matt.

a as mix. goes, far as So monetization it's

have of we some that we capabilities the So announced.

and it is vertical be including inside And and have we want the think our environment can on into that like the the them. we of we data because getting using we in strategic AI then firms a use leader run AI interest, analyze augment We advantage want are to company third-party for data to Intapp things AI AI information it's differentiator. to the with. Applied We and additional more in also help system. particularly to help that take with the We a firms their data that work bring think are

about At this prudent job make see, experience look, the We with across understand We a we've included.But sure with and -- working February, we and just that addition, to real. sort fast tradition are these is been references component that's to same get for the there's need early of goes. what right doing this continue a announced the we're in of to working our we components, exactly So, in the them, creating the want several we wins, of going right some SKUs And absolutely market. be clients the stand-alone all we like. that -- help the call great how ton is to rollout customers of this everybody but help early announced on some not on. with the wins got see announced of we We've of it's interest. a time, of to

So, we generally think support kind But it's launches that up the it's portfolio takes as other us speaking, normal us to that get great should folks like time a grow. a new rollout any I product and running. of for of

Matthew VanVliet

Do sales organization? need about the specialists of head All or more how count 'XX, I the right. Applied then Very specifically, kind add any helpful. go-to-market guess growth? to the AI the looking around of should we for at as And fiscal headcount think teams into fourth you as you're plus set. we feature planning growth kind quarter in maybe ahead go And here, year overlay

about sort So we of broadly? more think how headcount go-to-market should

John Hall

Yes.

to of be named We've of really good accounts conventions how our very continue of serve the coverage se. think at today each I to verticals any overlays opportunities. naming AI got thoughtful the not of we be and/or more we'll cost into we We're add about long productivity, that of whether our it Applied support tail per really acquisition. as across as well the look looking the

as as have year, it's out or be there'll to some in continue we but metric. this so, to going is, revenue point for any investments of not invest we yes, front being other growth be And my

Operator

next comes Company. The with Schwartz from Oppenheimer question Brian &

Ari Friedman

kind ]. I in the ] could net internally This at it? companies? the that type software is like do of some to like you if of IT and of Brian is and Schwartz. like is sell order [ [indiscernible] AI Ari wondering like or Friedman budget Or for other [ guys products, new monetization budget these sitting budget budget being in AI like you sort created the displace was AI double-click for on I wondering like was

John Hall

But have the have AI which the budgets initiatives are think who, both is to decided of do firms things. invest expect. of they they in There want exciting. is their innovation the I those answer that in absolutely innovation and many you through that's would firms, Ari, AI-based,

I capabilities all categories well, have long AI the served and of across As a traditional these we've markets for served application think in business time. increasingly key the that differentiators others are

for the so, generative integrated AI, industry-specific AI ability applied And recipe a firms. coherent to these bring to

environment. firms. is buying a I really differentiator They're a trust to going critical increasingly on rates be win of into think the modern and

market-leading this So, We professionals of don't for trying into to industry we're who for companies, potential really AI push the think, help the are way specific the best space. committed to and the expertise our maintain want advantage our that is make market technology new the competitive for industry in competitive really both. we And areas new we to workflows firms to have we applications sure do how this discover generally and to the the applied solutions, a innovators to as go blueprints, well. in to in whole and AI addition, continue platform really other because be want use understand to that

So, we're going to do both.

Operator

for it John like concludes question-and-answer I turn remarks. now session. over to This closing would Hall to our

John Hall

We you, questions. and Okay. attention your appreciate Well, everyone. your thank

of our a and forward proud Thank great We're quarter. look next to you we'll very to for what's your behind next. you and time, have us. we're excited coming accomplishments, QX all We again talking about

Operator

program. for conclude you participation conference. does today's again in Thank the This

disconnect. may You now

Intapp (INTA) 7 May 242024 Q3 Earnings call transcript