INTA - Earnings call transcript Q1 2025

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Operator

Good day, and thank you for standing by. Welcome to Intapp's Fiscal First Quarter 2025 webcast. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Trone, Senior Vice President, Investor Relations.

David Trone

Thank you. First 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;

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

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

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

John Hall

as I'm public expanded everyone. we've logos quarterly we the growth, of new Thank quarter. new that us fourth a again, you share world. around fiscal client results, share to first our Good for today Commencing accounts by company, and results our pleased joining partnerships, products, strong supported new as David. cloud ARR you, afternoon, achieved Thank once the year fiscal

new drivers capabilities I'll our million, our $XXX XX% $XXX throughout our We also year-over-year. added $XX select Cloud to In our Microsoft. of these XX% and to XX% of grew strategic SaaS growth cloud the ARR revenue million, In furthered total up year-over-year call. up XX% AI details applied platform now this with on of total million. share and ARR revenue partnership QX, we earned represents year-over-year. quarter, of up million, $XXX

our I'd map, vertical on from innovation, our applied like road to quarter. AI we're client first continued Now AI highlights fiscal adoption. how our and share executing practical with its applications start I'll increasing some specifically our

two we features Assist AI-powered First, new for introduced DealCloud. for Intapp

sourcing daily you identify their As organize and better as recommendations easier professionals Intapp help making search complex communications to and and firm And Intapp notes, make to them ideal helps now companies now to generative professionals, helping Assist AI data ideal apply. smart tagging Assist with such and candidates. aligned Intapp analyze strategy, target meeting provides investment to driving brings professionals remember, accuracy. speed work the apply intelligence Assist of help quickly professionals while may

clients. excited DealCloud is strategy are client AI our Assist for tangible our positive results Intapp applied to its capability adoption for of and outcomes rising validating We that and drive

every AI to giving makes been them feature comply can other be terms I it their Marketing reduces Director for But new for of terms Assist needed Clay, about has to in Second, process Communications and do DC thought to AI by companies commitment professionals the right general Microsoft client and client saying legal Intapp it example the for adoption quite to Teams. furthering reach easier and guidelines has with of day, This and DealCloud letter depth counsel their their the success. it the and to said, already immediate the Intapp by it's also can we brand questions Bank, research firm's Microsoft we time their in engagement at Serena availability the International And This lot Assist terms. product another significantly impressive." generative comply tools announcing demonstrated Advisory apps International contractual of answers Investment example, the professionals really how with road and outside expanded what "I a For which of think time are think performative. and they're commitments. map using easing

Carly Numrich, no Counsel right said, and document Byron Risk at or Intapp have and go As contact "Our Fredrickson with to staff search longer Terms the for question. a into me

with terms terms are Now payment client? Intapp questions much Copilot revealing share such firms as provides are trusted solution helps The they're apply the Copilot gaining Walls streamlined able secure, in my AI. we a it to It's use what And AI professionals for in manner while Assist protected the to that ask is process." answer. Teams excited traction look Microsoft up to And Intapp information. compliant this Microsoft avoiding pull more market as a and more

opportunity their our from see benefit and footprint and to commitments. compliance ethical firms to regulatory, continue help adhering We while client AI expand to

we from Copilot to Copilot us, application walls Mullins "Because can the point use across As want, pull These and we Torrie propel firm our Carrillo, are Intapp forward. Nelson and permission co-innovation is Microsoft capabilities I of examples access access." with told rules new networks applications, the great enforce Microsoft law wherever will our manager to helping has how and that features AI vertical to our user strategy from AI applied confidently only matters

our to and co-sell fiscal global be with partner prominent now I'll and our launched continues strong to of Microsoft most success. renewed to Microsoft, based activity We're how Microsoft share status are top-tier one expanding proud ecosystem ISV robust of partnerships growth. 'XX we go-to-market Speaking turn with partner on partners. drive to joint have and

marketplace of clients in volume through and in verticals number the for to Azure the grow and both transactions deals. applying to continue expand all our QX, and land We

For for its of this of of one largest capital mandatory investment for formation team increased roles DealCloud its use approval seats the DealCloud world's it number the significantly multinational quarter, and banks example, as specific processes. made

Canada, firms firm's with rapid Marketplace reputational Next, a business of manage Azure risk Cassels Brock growth. in largest the process, & adopt Intapp from the Conflicts Blackwell, conflicts the can one its clearance to scale and law that solution purchased

the share partners now with partners program now have I'll about We in to and data, target grow existing gain and new that We're last in are X bring updated Additionally, additional partners markets. who QX cloud cloud the excited robust which already traction sets integration clients also migrations turn to to examples our technology partner how new in continues data wins base, to we're our launched platform. year X to a DealCloud clients, continuing of migrate and of some services quarter, XXX our partners expand and ago client program. program our joined markets. another attract the

equity-backed of for systematize its and share that to clearance we're professional through firms, and selected new the firms. process to network services which private continuing pleased simplify conflicts of PA, addition a centralize, member I'm clients, the accounting grow Intapp including Crete First, to Conflicts

area private which as this examples. advisory trend through investor a checking restructuring and its continue firms new investor Conflicts capabilities Next, growth focused see acquisition. support venture a these chose accounting as need We In and management. increase and for both the that a its here Intake U.S., for pipeline financial growth Intapp. We compliance to top-ranked nationally robust growth capital Intapp significant of all as firm the to some And recognized verticals, for acquisitions firm, revolutionary CRM by we and equity our clients are in internationally, growing chose and reporting on vertical. tracking, domestically through technologies Intapp as win chose DealCloud illustrations for investment across

client states, effectiveness, program leading improve cross-selling to firm new across internationally, account TGS a and Baltic structure Next, Baltic, identification the DealCloud drive opportunities. law improve commercial chose sales its operating of and

our expanded examples Additionally, notable Compliance Intapp. personal uses relationship leveraging recently team continue advisers' upselling which Forvis complex Employee and A firm, consulting retention. capital cross-selling Mazars, to strong revenue The its Intapp independence in net CPA existing support now to deals success national few and with accounts drive include by manage and its to firm manage efficiently. added AI DealCloud to more

chose of risk our firm a solutions equity compliance private to and multinational team. Next, support DealCloud its long-time and user law

client efficient performance growth the XXX%. a its conclusion, we're increased and progress migrations, management advisory, by billing, firm And continued its and of our profitable Next, interim we as investment moving seats opportunities. of satisfaction. and York-based a steady number about New we're Am cloud, processes. And increased DealCloud chose its XXX Time fast-growing here in almost to matter its cloud on achieving banking and had business migrate including streamline quarter, supporting so of internal AI Law In the which gain of migrate firm, management it latest quarter, compliant strong instance solutions Law X the the compliance to more XXX to its goals to more to Am proud cloud, and to Intapp could and this time Intapp chose access Honigman, first applied finally, well firm optimistic our

durable cloud value AI platform and TAM our to expanding we and continue capabilities. We're to by broad by grow a our compliance model, new platform enterprise with serving shown, and reach. market a across revenue clients global has performance existing QX to add subscription deliver our our go-to-market increasing continued our within We new applied capabilities to industry-specific and client and adding greater opportunity base. both see As end

cloud growth adoption we drive modernization We opportunity all to have industries a serve. the AI, across great and

like Board teamwork dedication. global their Thank our for much. I'd clients, our all and investors, thank always, As Intapp our our and very partners, team you to our

over to you. David, Okay,

David Morton

expanding strong joining you, Thanks, quarter SaaS extend exciting and first in market to leadership revenue achievements I'm operational and enhanced a driven everyone, efficiency. John, base Together, opportunity pursue thank we these solid and us pleased by position an performance as report beyond. QX growth fiscal today. XXXX for our to client us and

will cloud our fourth public cloud business February, growth we the support in over cloud announced and and business. our our offerings. SaaS disclosures metrics. to revenue highlight strategic in focusing trajectory our separates Accordingly, SaaS our this began a revenue fiscal As income on on-premise year better shift company, from quarter, a Starting statement as service now highlight on-premise we

revenue of driven products client the SaaS and year-over-year, on-premise QX, $XX.X migration XX% expansions fiscal million, to acquisitions, For contract up was by cloud. the new

one fiscal our adopted of XX% cloud module. least have clients As of at QX,

previously of this up our by aligns cloud also support. to License appeared in $XXX.X contracts. in We driven and revenue up these the revenue, on-premise clients revenue. revenue disclosure new of our and where portion previous XX% to our and deferring contract upselling Professional services primarily through taxonomy, solutions. report fiscal to was price us includes increase million, driven license reflecting reminder, our our that of services a help of which support subscription focus sales by by strategy the now overall on-premise were partners, of $XX.X up previous clients revenue license down the cross-selling QX, and XX% client upfront $XX.X with SaaS As year-over-year, in migrations sales on support expansion X% initiatives. FQX portion and satisfaction. included deemphasize cloud. million, concentrate This revenue SaaS million, approach on functions expansions Total totaled year-over-year, to allowing more existing X% the year-over-year, bridge million as our $XX.X offset was To to totaled year-over-year,

greater revenue business fiscal up Revenue the U.S. platform present continues from strong, a operations international ago. year expansion approximately international in utilization to remained QX, from opportunities of and total comprising growth Our for XX% XX% our beyond

and once markets, technology, we our data, about and partners, have capabilities their accreditations XXX continue and in a Intapp's expand around increase. remain our now our AI alliances attracted deal additional As quarter. discussed Assist service optimistic new these ongoing partner a new Walls ecosystem again for generation, With a enhance ago, across data contributed in and offerings, we elevating recent quarters, this year and XX% enablement, our impact. totaling Intapp. in implementation, invest vertical Since partner target and we SaaS technology program Copilot partners and investments to year-over-year

ahead $XX.X operating gross efforts. expenses in and in our our in prior in non-GAAP about million This margin compared period, year still client our beyond. development reflecting pipeline continued growth we was margin provisioning, XX.X%, optimization growth. by totaled is Non-GAAP XX.X% million product-led period. prospects services are investment to early improvement it XXXX $XX.X year the driven mix and was product and the cloud prior excited While fiscal rollout, up the in from QX

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

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

Our our ability reaching business rate retention with net XXX% clients, grow cloud to in revenue QX and 'XX. cloud FY highlights retain existing steadily

Now our outlook. to turning

fiscal quarter and SaaS we between million. of revenue For $XX.X expect XXXX, the million of $XX.X second

revenue of EPS million. diluted newly the Total $X.XX shares outlook of providing the common in income million to metrics, XX%. million the range $XXX.X of approximately provided are and a also $XX outstanding. As count and $X.XX between weighted and $XX growth and for $XX the XX% million $XXX.X operating in non-GAAP year-over-year of these quarter share range using we outlook are non-GAAP million, revenue implied of results

year full we million fiscal $XXX.X the SaaS of between XXXX, For $XXX.X million. expect revenue and

metrics, $XXX.X $XXX.X year-over-year revenue between XX%. XX% As these of the and are are outlook of growth million and implied range newly provided outlook revenue we in also Total providing million. the

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

Operator

[Operator instructions] Citi. question comes our Enders Steven first from of And

Steven Enders

on in there Okay. just kind update be deal guess, get to in year you that thinking given about to, an I of how start, maybe would I some the some change the the in if of out financial past been or or you're the services side, any of the macro helpful you're maybe softness particular, environment so? guess in saw what there's it and seeing there

John Hall

a strong. Thanks, been Steve. in No, deal change has we the Demand have not seen environment.

have year you to services experience Our the time pipeline that talked side, in we've about from given financial strong. do we've time. the is particular, even not quite great. anything been We macro of so But of in that's softness the in as deals, seen related some saw to there lumpiness past in the large or

Steven Enders

guess to I Okay. differently. little maybe a ask bit

line ARR to the of maybe on your I get year up guess of be would some And good it billings of kind is past? timing we of a expectations kind seen of characterize this might just versus you you perspective year your maybe from might and would with have what the take this -- how what from getting on view kind of question kind the think and how the here. if you just place in I investors shaping we're how view might or dynamics in kind

John Hall

Sure.

We were and really with enterprise-grade set the at we've little larger in years discussed interest from as had had very features done investment beginning a of fiscal new previous that success bit, had strategic we because some We develop getting larger 'XX. was And QX accounts. strong. a the our team model good 'XX. to we So up over

here, of the team more we named to advantage sellers both We're we've account, as an brought that at the team start the given we And pursuit into that clients So take enterprise. board it same that moved on model in all our upsell cross-sell, of 'XX management, accounts strategics. new existing logo a of calling to tier. and account new of more

good that definitely has sales there. accounts So time move the to had the the QX team success is we that

have SAM -- at went. accounts. the talked We year how as we Investor well XX% that of last in our is about point also there's proof X,XXX top our And from Day, of

good is the which like accounts, evidence we us to right the sure up did and billion and the we in accounts. for that did see see pipeline $X ever large the Also, And So allocation we anything resource to about make macro. gives been. quite strongest closing has going mid-market We that that's want ourselves in those the the not put been pause it's commentary some strong set more. well, of the the but

Operator

next of comes question UBS. from Our Kevin McVeigh

Kevin McVeigh

to sense is of today continues and we so just of of where that a can be time? percentages kind what be Difficulty] [Technical kind get and over broadly it more enhanced

John Hall

Kevin, this of is your John. beginning I apologize. The question was...

Kevin McVeigh

that. about sorry John,

how we of time? Just does how about today? over And should that over percentage can revenue And is what of of that kind that Or alliances? enhance time? more kind think the scale

John Hall

their partnership The for of gone and increased with and Copilot Microsoft announcements the Walls activities. is good largest We've and of had around Intapp Obviously, throughout have amount one, fiscal a Assist co-selling 'XX our obviously. 'XX very product progress continued co-marketing products. is available first the fiscal quarter the in part The commission the marketplace sales and can Azure entire they the and Intapp sell Azure of their Azure with firms when on our well. relationship MAC Microsoft relief us where quota now receive because spend, very spend reps agreement minimum portfolio

are us be co-selling. to for components the aligned all So

very the in we're field. important for forth, ISV we're about. good back lead and places. sharing We top-tier and excited even very which status, account large we've requalified global also and some collaboration in several have We important co-selling going got status And Microsoft's

It very prepared the coming partners market with gave and the little data on to to lot reach in of lot growth. a of about in remarks, I a developing internationally, of parts in stats progress. Microsoft, partnership excited of our to program good expand get some but partners that Microsoft. but services takes then I'm helping have the while addition really well. board, the So going, a a strong lot relationship we partnership And is different

Kevin McVeigh

upside, that. success And particularly of then as just you're on how of you're driving you up terms to does as to follow Or to margin literally to lot flow to outsized seeing that margin line? the relative then number that to a the the opportunity? what's And opportunity Any that guiding. on more the thoughts philosophically, and AI bottom an Obviously, continue in of Gen one? do use capture reinvest

John Hall

I'm one? to your Kevin, that want answer to on just Dave, sorry, take margin. question you do

David Morton

continue the not have when still will. that We've I Yes, you We'll continue been and operations scale scale, our we efficiency, you. question. line, but go some only opportunity well to still continue in as continue productivity margin work Kevin, gross invest want to bring thank team to the below invest. that as to continued as opportunity on I our then company. And Thank there. clearly, there's on we only to our not publicly going beyond within great altogether. the working, and We've cloud to to to neutral, services we're

as So as absolute been sales and G&A. our this you been productivity seen in reduction. both our scale well marketing hasn't has where in But have an

front, well ahead our leads the excited this that. so which see question your our you and the entail continue engineering within back of in product-led to an narratives to as where of growth to that of about you'll will and that orientation road specifically continue our and where how more fiscal what in AI stay to continue us teams, of And product think invest year. other organization, and that's on when half map gets as Gen Very about we

Operator

Our next comes from question Alexei of Gogolev JPMorgan.

Alexei Gogolev

that XQ. share fiscal the confirm year the suggesting It Maybe second share half there or might half of lower be? outlook in versus you're some seems why color for SaaS John, revenues of like revenues may the I XXXX? a of David, of implied the guidance back might slightly those be in

David Morton

question? or at could and you repeat looking Sorry, the SaaS Were pure you the support or... SaaS just

Alexei Gogolev

XX% pure SaaS XX% full or closer for disclosing year, thereabouts, in you're Well, you're now. to guiding almost and And XX%. XQ,

trying or expecting Just understand assumption? you're the a some mix this change revenue is in conservative to if just

David Morton

No. metrics. We're on being prudent the overall

a we've in we've revenue We talked an uptick as time have both an that about about. as happens and in putting evolution some and that I get well balance do license associated think SaaS what we've as more in you'll talked the pickup we cloud, evolutions is the effort well continue when as total as see you as total. shift to is which

of it's So it's when. just not if, a matter

we to also impact. grow balancing So balancing services satisfaction, that's how want but to is on our our only focus And then other and customer impact continue also articulate continued partner the more one then not the we've to economy. portion that

balancing a think we prudent very so been results. in that's act about so deliver of our which as expected to can the And our be to all continue continue we is guide, eyes, respective and

Alexei Gogolev

And new us net additions upsell you is you forward? ratio the Great. outlook what that and can versus going anticipate on your cross-sell, customer remind

David Morton

new you, call XX% logo ACV Yes. se. net We the that to from, But you've as being motion. on XX of specifically dollars I expand tell can responded they it, have as and -- far anywhere historically, don't XX% about I'll seen guide per then

to into on time in fall just ranges. this well. that half got place then as $X do in we beyond just it's about billion of those how So we billion fiscal on we're upsell, logos. thinking our not you of only XXXX, cross-sell net opportunity we front $X as continue know, have motion and deliver also, our of opportunity the the to a year as we've But wonderful But going back and to and for -- new us

Operator

of Koji from question next Our Bank Ikeda America. of comes

Koji Ikeda

listen really it all and has on decelerating. grew really, really strong question It I things it really, out to pipeline, But I elongation just cloud there ARR. performance, bit considered. a And do be But a it of sounds look listen deal commentary had been to I like also at might XX.X% which there, I strong. sounds -- little too. the the on then

potential the guess be would is question drivers is, cloud that? the from the next over here? several I accelerate what this So metric for for growth ARR quarters the And to what

John Hall

Thanks, Koji.

anything I'll like. it core up So you percentage we add then now, the overall in points can of But some of is all reported know, you give we and cloud, the that. moving sell Dave, the steadily you cloud business as the and we're

additions So growth. all the add the to cloud new

We and and more have is also new so clients do existing cloud. logos that the we quarter to all acquire each we that cross-sell upsell

of And is cloud, that the fundamental also base so components remaining about a our growth the migrate a ARR cloud movement the business the talk to bit. and client of in little number. that There's we existing to

not I go, saw we some opportunities when large million are only we in those of land to larger QX move very up when think they're deals when as and the $X them, firms large you expand as clients, opportunities well. the reported we large as numbers ARR the far firms, but we number as

quarter-to-quarter. see come talked time, for in when of as we deals. in, exciting opportunity lumpier, you're results. a us larger the going which they tend allocate from an market about They exciting and can to So pursue to here same have I some top to resources bring we've be to really we as At do 'XX the think the the more of, to accounts at do named more more, X,XXX in move we've our made

are components. the So major those

Koji Ikeda

quarter new here. just X%. Last qualitative quarter, products you follow-up could gave And a qualitative was you quarter, commentary there's was AI updated -- could, of at What that an please? in if this maybe coming quick versus from I I yes, or know number. some a wondering ACV the it. we remarks, Got last if net number, prepared but that percentage get

David Morton

around on in Yes, one it's leadership a We and to we're quarter thought periodic but kind and insight a last we're thunder know updates, just kind quarterly of to of That some as brought more basis. metric. Koji, how so that continues, rolling that. going we to out we'll it give not and just an continue annual provide monetizing provide of Dave.

Operator

of comes question Raymond Alex next Our James. from Sklar

Alexander Sklar

in you Dave, just sales bit curious you or to? changes And that gave you spoke team can of was changes? terms the you the When the the any much did John on to the improvements QX impacted? elaborate beat. and that make take How some more up go-to-market team a account seen if above in full to market you've large year I'm visibility October that team guide productivity in those of

John Hall

Alex. Thanks,

the out significant portion top we we team comp I'm of of a at tested excellent very saw territories 'XX gave We we new plans the 'XX the some So market, and results. the the moved model at the the very of in appreciative excellent beginning fiscal team's for when work. year. of

to folks a very to help collaboration accounts area. have in We long-standing was lot team each there and members who are move experienced in this of industry,

But which on focus just can billion we followed logos across on also existing from or also a number into put accounts new get significant the board through we and for accounts, team Investor us to go that. of more to doing $X model to more the was or at what because $X there's have We entire a discussed billion Day, to when continue we new this accounts we to of into needs logo of came market cross-sell number we for the the and us QX opportunity that portfolio to both sure the upsell meet so cross-sell a underserved investment those way. from wanted The in management and accounts, right acquisition whole showed huge large the had million-dollar the business. make drive to there's and new we through account

moved well proven. here I on that choice think was resource allocation So we the

everybody going the think shape. handed with in chance opportunity good them deals to a going were advancing and and accounts get that to new pipeline have development their meet pipeline as advancement, had are I over forward now talk the people to and

the And so the we're year. rest excited of about

Alexander Sklar

then a And Dave. you, Okay. follow-up maybe for

number Just drivers are of this And total can you separately, growth in market to by disclose quarter, quarter? between this NRR going in the end -- for type? expansion or you terms solution then NRR cloud any changes the

David Morton

of Any a to which monetize garner drivers? Analyst They big seen mean, those respective cross-sell teams and each wonderful even back continue the and years it's they and opportunities, that success No, to the going those cohorts do continued expands, job how right? continue to February of doing I of on be. you've XX, can our key the upsell Day

NRR, everyone But just that's that garnering are the XX-Q, that. that XXX% continuation And as of provide of more XXX% to more want be I over specifically to off-prem, going obviously, those cloud is to from to on-prem can't we're as on transition those it's as a I metrics was and going change a primary cohorts attribution reconciliation when because well to and forward. and total support some focused get to ones approximately motion on investment expand to continue into our XXX%. you our disclose thereof, really going so right? within that of don't range we'll we're So well, the to in respective to how it want of that because go the I attention just and

go. you there anyway, So

Operator

next comes of Kalia Saket from question Our Barclays.

Saket Kalia

can think we Can of around sort bit existing And AI. the things of John, of of is and SaaS? think that Where to them customers you examples new on-prem are just in sort entice prepared are do over. to are sense? around a to Gen move here great question. maybe you you you what Maybe speak in mean of that? for journey in you, I journey? do in going make broader that to change Does remarks that where and a lot there a 'XX to customers fiscal of a those lot around the converting we

John Hall

at talked but fiscal more 'XX, you, looking doing to little that a the that. We had that the Investor and we Day along, we historically ways. Thank bit option, starting move doing fact been client's in in about firms definitely were we're We're few a be to at Saket. encouraging

that these way The AI and fact, of their is lot of work that they modern first the coming experience AI in new even them can they more across all in capabilities the to get advantage professionals and take a firms pressure cloud. you from a to create capabilities. inside fundamentally the the there's for more capabilities these organizations And more the only of Generative for broadly want

a that to to I pull obviously AI lot in. gives excitement there's there, was but that pull always So people think of natural a

demand IT from don't kind the working that the need. to Microsoft have the and the us there's environment scalability Azure just scalability have spend get with because the just conclusion security that real around and scale firms the partnering to can they and of they basically and into cloud firms to that of create move correct reliability Secondly, a security. Firms come with right

the showed I a have hurdle over there's benefiting then platform Day specifically, cloud to client get of lot And to of through variety doing remaining it we absolutely the their Dave boy, and of up. is so cloud pressure in some that in to picks of your launched And expansion to rate Investor now themselves, from get those help it a slides, ways 'XX that. to environments expansion really the the think go program we're worth onto account and firms on-prem remaining in about get to we and to his the we're their firms some move off have at because firms on-prem as because them each what fiscal point that component have a

choices to received. a judicious There cloud an making know about excited So practical there. they of techniques out each every to prudent variety question, a get positively be line is we're help not that's area their in how there through the to to remaining make And up a we're I'm the firm firm case do how they IT just get should schedule cloud. that. argument They I'm need the all on-prem. to on do sorry, they be -- It's that making

Saket Kalia

postmortem, had terms quarter of when we there just QX, the Got at question it. as net for of you fall how Dave, is, at sense. sort look of in sort the point of is strength in being looking mind was about keep quarter, the versus need you, just a anything total thinking maybe ARR to earlier this timing the other? lot new course. the to Intapp ARR lumpy, That deals year-over-year new around But of that net in that makes maybe maybe one down in

David Morton

pull into nominal we the to, year anything fiscal think a from the and and out to getting or alluded $X seasonality. and about accounts forward really sales to necessarily and do or so billion years, Not on. as I going kind get and we've think coming mid-market and John in how we're kickoff even this or opportunity push like a the of and and on how that organized new so where aligned of as is seeing success all the named previous articulated from the teams

the gen, earlier quarter as I as we the pre-shopping, more cohorts on our lot into as maybe think hype of been own kind think for haven't pipe a strong about shopping, seen of land. And pipe time point, and kind analytics, those in John's spending us, where history coming others, opportunity we've of to we our time. this

it's monetize those about for excited opportunities, convert we're us those and and so and And to over. go

to like half starting we year. play but out fiscal here, well the so how QX also as back the only as into of is And not

Operator

Our of next Parker question from Lane comes Stifel.

Parker Lane

talked on generative how you've impressions particular those the you the customers a I What of your around sort of pricing? early guys of the are could opportunity. Has some you had solutions. was any around development lot changes way around of But packaging your there been being pricing if any You or learnings excitement and received? and it's touch are with go-to-market in wondering the about discussions AI

John Hall

Thanks, Parker.

I the one X past think on whole everybody over AI we, has, hand. or as year from Gen benefited have the buzz

world for the users to has the potential the done even professional there's this its something educate work like market down So that out there. the to

these is a people it idea. specific old from we're in proposition get the app the concept where brings happen moving have is promise the user we're into this world. opportunities beginning an the very the their their help It's and strategy, coverage general shifts generational think I pull is and What going the somewhere or Intapp you immediate generations hitting end to argued which specific just the applications do these for technology the about Teams of which AI the that killer applications. that's that in conversationally Assist build of about into some working Terms client. through it and that I And sourcing this the launch, generation some potential Intapp can is that's to that's about in our Gen talk phase origination obviously, one the world benefit Difficulty] when And clients our end to compliance with inside and client the real user. across of we applications very whole need that and made on partners to trick oriented the really in particular answers of looking the firm's and capabilities professional promises to whole early [Technical very that susceptible think companies, Assist they new market excited firm for with to questions we, how value understand specific promise vertically the opportunities, know cross-selling with else other very base the

to a able with of value little down some a will those. of So bit pricing these It over pressure. done I the from the nail good standpoint the cases. we've clients standpoint, with those more packaging to and Gen real taking more got time, very to And because pricing be to up. the for go-to-market is has a those success I'm fantastic richer great specific have some individual a more being from of firm's We've they've are in value seen able when Obviously, grow, richer grateful the Intapp to era are And a and will generic in really the defend been team even and and think trick getting job. and leadership. of the and users use platform. we'll and this it done winning systems marketing propositions. isolate work we've that AI to Assist applications But specific really

Operator

of Our Tillman Terry next question from Truist comes Securities.

Terrell Tillman

I'm on ask not I'm focus to ARR. going KPMG. to going about

win, in think across I last -- of network quarter, the terms pretty all global I think, you a had important of businesses. the

say about in signed, deal I linchpin product more And Has can you So to concluded win being what your secondly, collaboration been was situation. with Azure business? marketplace an that maybe that deal that after general? then think a

cetera? what and done credits, And et of that in is getting so deals doing terms reducing friction terms of in like leveraging the

John Hall

Terry. Thanks,

go network financial the you're for us analogous We opportunities very across are KPMG there us market. Generative like and had they this end us, services vertical about were the that a announcement. professional by case, the have whole player So excited AI bringing underserved we're that gives right. in to It access with in market, across Historically, been opportunity firms haven't and before. just a an that platform cloud and to these purpose-built

we it firms working have where in that. about it requirements With works professional and on, they So specifically, the the Microsoft this Microsoft teams and understands the product of are partnership compliance engagements really the is through those also that the that projects firms work that as XXX way to advantage enabled the firms SharePoint understands and XXX, a matters deals and that take and together. in and we're because closely excited regard Office collaboration Teams help Microsoft most is

a in have the example, And a has example in KPMG gotten collaboration it's We're the great think, have underserved other lot is solution confidence We've in few been really had so because historically. an firms think there. a have uptakes a that accounting on future but interesting accounting uptake excited market, we quite in we more So way the about that us it. our come taking markets, lot I gives accounting. they is about seeing but of of fit. KPMG new one up a

super So that. we're happy about

friction. Microsoft Microsoft regards with stuff. they're to the on marketplace question, firms for going benefits a reducing that a is signed contract the year to this Azure with dollars think spend has already I One of couple it X have

fit not think you And their I if the once you? go can it them spend they've like IT and And at with I But trying spend MAC across relationships. done collaboration for capabilities Azure and show already for also that their priorities so in agreements. with that simplify portfolio. scale want that, the is think vendor the people that promised they've firms argument those supply needs to that to simplest money, their to work can the marketplace why are are that's They

the the them that we're And Microsoft them of helping partnership spend and get the existing and on value Intapp them Office as out well. their Microsoft simplify the most so really Teams really helps helps fact environment XXX

one are response you this And is field asks agreement? we you questions the the So positive is, team used a people work a the Azure engage have do buying MAC now, of is with Can getting we it. it very generally the to that marketplace? relationship that the loves prospect on because you When Do the first here? have way.

Operator

question comes Our Ramnani Sandler. Piper Arvind from next of

Arvind Ramnani

equation which I has AI important wanted terms of to ask kind the obviously your of a been Microsoft, about with your in part kind of of of really strategy. partnership kind

of your but is So keeping kind in from -- partners? Microsoft open as sort to of still of kind the are thing space? is there kind any pushing and and And of leader may the question this one of its there the change of second kind sort is is, of be risk like its mean, keeping your are it's kind options perspective, evolve like you of that kind its of way, of continues AI with Microsoft kind I new cost cost clearly, kind flexible? takes kind options you technology the position a leadership a leading to of increase

John Hall

Thanks, Arvind.

point, about Day, one we than the first AI other company. we've technology capability Investor in as talked the calls on have On do more at

with in structured of to have you in AI should XX that because in AI have while AI-based But it's specialized in bill out a this the sense had what more information And years. we've with to the most of and time shared product XX purpose-built time news for for over productive now our market years technology that at a been figure for. such particular, grown market or everywhere. an XX technology team way. and kind technology for end unstructured the generative some our they the this been technologies or ago of use the applications helped firms techniques with line As we the first is we there's quite we XX lawyers opportunity market help vertical and in of We AI make developing years, example, recent all, AI

So other we're technologies we yes, big believers it. do inside the platform. working have And in

but this So in Microsoft-oriented end the technology. The being we're particularly time Microsoft not also departments, said, their exclusive firms, with AI more a That in environment. firms, very is spend Microsoft market on market. financial end IT all professional the generally, their

be very same have that with this is actually us say I the And very plan. and strategic partnership for also technology companies It's important. gives versus yes strategy. to aligned to don't firms these sure their the Microsoft's So with make we alignment think us real that IT can a advantage

are kinds around about question options your a flip of think kind that. all technologies. elsewhere world out tremendous is also there's there. things And There of has Microsoft kinds all certainly progressing of but position, side of AI in I and open-source the the cost

effective go advantage as think most from So solutions AI going AI bring benefit well as take you get to to idea out. industry market to cost of best And that forward. we're Intapp whole But do you the firms the it see around right enable I the can that going is plays I very how we're really up. to at take how well the positioned world on we think to this structure and to

Operator

question from comes of Brian Oppenheimer. next Schwartz Our

Brian Schwartz

I'm is very deal activity get in what you up maybe or John, just the Do related? -- was think Curious robust what was curious than it that's is couple I large seen had to last quarters. on the commentary pipeline take seasonality? just because of strong. that, was election maybe less the is to the it on hoping a your commentary business just macro that that. Or follow your

John Hall

Brian. Thanks,

did X,XXX the performance at the I factor resources put of we such against in think mid-market 'XX The is the beginning business. to main more consistent we've fiscal that because realignment seen our enterprise accounts.

do Whether it probably would the think, I do main has But the market appropriate question. to in started seen that's And about the we I who year from resources that year if assignment to election to good the generally, and generally scale us. with think did, knows could the we is speaking, for driver. mid-market something accounts the I did of last large proof with significant. think the opportunity have point a that what the

sales and meet make pipeline And want And to the got $X billion, to want sure do all what we do firms in professionals saw company before it. build got get so got this who I and to team we've the is been and the to have we set the we've they quarter. that's advanced, to through go up and first their

against resources large to set comfortable I'm we've go. and opportunity very So that we're here, the a right put up

Brian Schwartz

Appreciate just maybe you. it. one David, with

In your X the you that's growth thinking since end months market ago, terms changed about underlining given curious from segment of for that the any have guidance. activity? demand how in what capital assumptions I'm guidance? maybe Are thinking you're just the were markets how interest maybe you expecting change gave last you maybe rates

David Morton

Thanks, Brian.

But been we about we've financial relatively broad-based, had some saw that one candidly. quite you year commented We in aberration end us, For a if ago we think markets healthy healthy has been when approximately specific have with everything services. commented that specifically overall one group our really headwinds, on. within

our drive about in got pipe what We're been very everything they're has to nobody purpose-built this platforms who's We and us avid so believe our the from we're And platform. for and for. of looking believers execute specific to able product, conversion. one just

to it on. And whether of of capital other go rates, the going so market some of election outside be it's for execute things us interest cycle, outside

Operator

at like to no further questions remarks. to closing are John There back for time. this Hall turn it I'd

John Hall

We appreciate questions. your Okay. Thanks, attention everyone. and

a We next talking us, time look our again behind to your great and 'XX. we're today. continued QX fiscal Thanks to We forward excited quarter. about have momentum for all throughout you

Operator

call. disconnect. you today's concludes may Thank conference for now This you participating, and

Intapp (INTA) 4 Nov 242025 Q1 Earnings call transcript