INTA - Earnings call transcript Q2 2025

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Operator

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

David Trone

Thank you. Second 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;

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

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

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

John Hall

I'll everyone. happy $XX and growth afternoon, call. In to ARR year-over-year. XX% as of results total $XXX quarterly Good ARR partnerships, year-over-year. accounts AI total revenue $XXX the us drivers expanded share migrations I'm Thank Thank In these earned our details again, the you, you share cloud supported results our we've our of million, Cloud new world. strong million. we ARR, to once today on David. client year-over-year XX% cloud logos, share new quarter. this joining up cloud represents capabilities, up QX, new we of and around that up on second by revenue for fiscal the million of XX% million, grew SaaS quarter, now XX% $XXX of achieved

ongoing share second success to continued highlights applications AI our its quarter. AI in from practical start road with applied vertical map, like some I'd specifically executing workflows. and I'll innovation our professionals in our daily our on Now fiscal

now ability This to This deal work. Using and sets deal across quarter, data to to DealCloud, their Assist discover intelligence professionals for to query, questions. intelligence apply applying firm-wide within are complex professionals even language together answer helping professionals. we of natural more multiple client of types analyze information able AI introduced a new generative daily Intapp work AI-powered the more search bring more easily feature broader sophisticated to cloud and is

their We back continually seamlessly Outlook more Outlook, forth. deepened to DealCloud switch boxes work Microsoft with also integration even needing DealCloud's perform professionals and without helping with in from directly

for eliminating allows the relationship to need Calendar integration also market. created manual and Gmail, functionality and DealCloud's We intelligence of a app switching within our that entry data new Google for users segment which leverage

data. to comprehensive Copilot assessment include Finally, we expanded Intapp Walls for risk

clients potential alerts among and is the we're over of compliance data sharing security also each strengthening enabling for professional, the for previously of surface the now giving secure control Microsoft. authorized the addition firms to way and the unknown solution on our partnership over to that identifies another OneDrive. continually In adoption stored AI Copilot teams access to that documents thousands in risks and firm It's our across with

ecosystem our partnerships, company's our of and to be launching Since of Intelligent our alliances continues the XXX number Speaking and higher an cornerstone our at partner XX% ago program beginning partnerships, data, in Intapp partners. and seen of important a year updated technology partner strong expanded is our Cloud. last and fiscal growth with a now year, we've than of services which strategy

to and onboarding Marketplace. for managers continues Passthrough, partnerships investors capital. Meanwhile, formed our we Intapp add notable including partners Both quarter, the We partnership real capabilities management SaaS-based business. differentiator with additional of helped lever Proms, investor platform. of these several integration growth new to purchase through for be our commercial a and Microsoft last new private integrate and in clients Intapp fund Azure real our data several In a platform solutions a and QX, estate estate DealCloud

cloud significantly the some the now acquire pre-committed banks a new their This clients DealCloud partnership to expansions allowed deal the one QX is this as investment of contract their Marketplace of as to of availability Microsoft Azure to our expanded our great Intapp value solutions of our adds the example, way Intapp of client largest on For The migrations. part world's well renewal their adoption for quarter. use technology. clients. I'll and wins, spend example as Microsoft of turn both

across we're new firms share accounting new First, I'm of pleased continuing clients. to grow and solutions addition adopting the consulting, product to offerings. In are through our that

finance manage & example, consulting pipeline workflows. expanding sales group to a deal DealCloud and For Intapp Marsal, Alvarez firm global origination, corporate selected its help practice

governance U.K.-based gain a control firm, collaboration. and Collaboration structure accounting and around workspace chose Intapp automate to greater Langdon, Milsted Next,

robust set. top solution chose I'll our legal Next, clients also Intact highlights. new while similar experience solutions aims enhance partner during efficient seamless intake management. new compliant more and Intapp identify Skadden trend leveraging interest. We're this the shows Armanino, establishing to in of accounting Skadden intake productivity Conflicts enhance seeing in U.S., workflows and risk share conflicts with By XX more processes. the the its also a solution technology, Intapp resolve clients support and in position leading maintain firm advanced centralized process to its as solutions law business a industry, to to accurately to few a and and quickly choosing its a across delivering firm efficient

Next, Colin Biggers its work cloud-based efficient to Time professionals. Intapp modernize timekeeping & Paisley and chose more enable processes practices for

enterprise management Sackers, Intapp DealCloud its for Next, powerful relationship selected capabilities.

away one horizontal America. information, Intapp banking investment quarter improve in new Wins from banks processes. continue services to included financial reduce to the and the largest onto solutions move this centralize legacy DealCloud manual CRM Additionally, and their firms of arm of utilization

firm, private this firm. area European for management growing and We growth a Cartesia, a significant Asset see equity trend as Intapp.

continued Intapp consolidated to including strong This clients success CRM, and some quarter, in retention. needs. to solution cloud Trautman a notable our X chose system the management existing DealCloud development in and DealCloud for Pepper I'll event revenue cross-selling Law its firms examples. ERM, AmLaw Lock stack, add business drive XXX. share their accounts net continue single upselling to as

CRM and moved and Assist Next, a for firm improved capabilities. functionality its with DealCloud onto Global XX AI law legacy CRM Intapp access off

of to technology. development cloud the synergies and long-time is data a Rome, platform. business prebuilding enhance added and as solutions modernize and marketing, strategic Intapp to integration across Intapp to The DealCloud Intapp users Blank migrating firm maximize also compliance the Next, part time and BuildStream the portfolio its its of initiative existing

consulting and streamline add added share also Large entertainment of I'll to and solutions. accounting and Aprio firms a reduce manual compliance. Intapp continued gifts reporting to few. conflicts tracking operations, improved

scalability. firms replaced X compliance big consulting one with its the Next, of employee Intapp compliance automation software increase and legacy to

global firm solution. Intapp the engagement-centric and large XXX compliant added Walls Microsoft use a into Microsoft a platform Collaboration and transform collaboration of to facilitate consulting the Intapp Next, compliance Teams firm's

is Venesh well to success both is and X Intapp An to Intapp to its firm key their as to Intapp processes. with deal-making X to to collaboration. Time adding professionals And as BillStream DealCloud streamline cloud Time migrating global and further client share big quarter. enable cloud client we're more lawyer notable a Intapp plans. cloud expanded legal clients choosing migrating Additionally, this the more I'll solutions now and XX examples. Ireland to migrate the firm firm finally, And the adding Intapp efficient further, in DealCloud centralize Intapp seeing AmLaw

proud second be quarter to strong about continue and our conclusion, optimistic of we performance, In the we're growth opportunities.

by adding to As by our performance growing go-to-market value new expanding increasing QX our a to and greater client within our new and existing TAM add reach. we both global enterprise capabilities across opportunity broad are shown, has see deliver continued base. clients We

model. serving with and market a our industry-specific capabilities. cloud and durable We're subscription AI end applied compliance revenue platform

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

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

to over you. Okay. David,

David Morton

John, strong second us thank driven and Intapp's a for everyone today. quarter base pleased across offerings you operational report client and cloud performance, expanding and continued vertical-specific by adoption Thanks, to enterprise in improvements efficiency. robust joining to I'm

we levers As drive positioned to multiple half on XXXX, of we and scale. fiscal at are well second enter profitability the growth capitalize sustained

by Let's begin acquisitions, and $XX with year-over-year, the to contract new was the of revenue expansions the fiscal million, migration cloud. client products QX up on-premise XX% results. driven SaaS

approximately was clients December fiscal our which of $XX flat revenue, at License revenue, represents had least the on-prem of module. in As cloud year-over-year. XX, adopted QX, X XX% combined million

these were the client up While services offset totaled increases reflecting contract cloud, million, transition $XX.X price year-over-year. positively, migrations revenue by our ongoing expansions contributed the to SaaS offerings. Professional and to X%

of greater solutions. provide pipeline Our long-term XX% generation this for strategic by our more QX. revenue revenue was driving sales to has XX% and opportunities. objectives. Total partners of to cloud enhancing International growth supporting us on almost revenue driven X/X international to activities up decision our million, $XXX.X continues satisfaction operations grew to our client place our year-over-year, co-sell from allowed growth accounted total outsource emphasis Revenue year-over-year and quarter in primarily

our in recent and alliances to continue expand ecosystem quarters, and invest Intapp. partner around highlighted we As in

significant playing their partners, our client which partners, implementation acquisition year-over-year now network in includes growth. integrations. XXX value-added and expertise co-sell and an pivotal increasingly are our in grew retention and XX% Our role technology Notably, service through and data, reflecting QX,

program ongoing strategy. deal partner optimistic of generation, growth about impact our capabilities and and bolsters we on enhanced their data Our technology, remain implementation,

term Copilot offerings now the in continue quarter. SKU our strategy, product-led we our Intapp new to include and AI Walls our Assist, featuring contributions Intapp continue make emphasize vertical for As to SaaS growth

gross pipeline compared in million $XX.X investment that our the top operating prior totaled expenses breakeven to toward period, the relative million continued optimizing line Non-GAAP margins our professional and client year business. While margin contribution the year reflecting up reflecting from about services product-led and prospects excited growth period, from in we product early $XX.X the growth. progress was in of remain we in gross the ahead. QX non-GAAP still prior development are XX.X% stages provisioning, rollout, XX.X%,

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

Turning Cloud total year-over-year. million, $XXX.X XX% while obligations to up XX% remaining metrics. Total up year-over-year. year-over-year, was performance was key XX% our up were ARR ARR

these, with on from strategy the over we new revenue quarter XXX had the year. sales an least in XXX landing go-to-market annual $XXX,XXX, at remains Of up Our logos focused X,XXX recurring previous clients. and of ended

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

turning Now outlook. our to

'XX, fiscal expect million. $XX between of revenue we of quarter third the $XX million SaaS and For

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

growth For and expect $XXX.X revenue year-over-year of $XXX.X revenue and of million $XXX.X million. between between range million. and full fiscal as outlook in revenue Total the are newly metrics, implied And XX% million 'XX, of also outlook we're $XXX.X the these providing SaaS XX%. provided we the

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

Operator

from comes Gogolev question with Alexei Our Instructions] JPMorgan. [Operator first

Alexei Gogolev

to Congratulations were for Do in now the in demand guide can it feel think philosophy. last provide the of that and wondering recall of your you've and been I have more strong during there very accurately? still color past, beat. more more great you Because significant to any results. could on you Is the the And more maybe call, remarks? suggested John, if earnings there visibility you said environment, strongest is top case? seen has I in prepared like the that on guidance your some history. what you was pipeline the demand terms that that seems if And you is change the

John Hall

talked quite very of The through can And I'll back-end loading strong. Dave, pipeline bit the We a Alexei. then the of did was Thanks, about we brought we deals. quarter and in we few a large what Sure. in was guidance address a some saw you that the strong, little take organizational quarter. change The beginning, last is of and the deals. questions. actually go

for had in December been being very of lot very DealCloud good. adopted with new OneDrive we were Intapp Outlook, we taken well is is So to some and rapidly have this some capabilities all is which Walls up that integration talked a very overall, strong, areas, extend We other received. about AI very with base. client Assist well. capabilities by The deals quarter. But The demand and to announced the Copilot

the to about philosophy? we do So Dave, talk I'm where you optimistic stand. about want

David Morton

that. of with convert. to the that Very itself, then being guide echo a Yes. visibility thing. of to have provide very we enable in. into the a that And quarter the impressed Yes, same I guide lot prudent we convert the continue with pipe a able to would came respect lot We Thanks, and just teams to John. with of

may could with on have back-end a were at instance in that cases, We that also getting revenue many times, the have date. in slim of start specifically loaded, so of to that SaaS X have is you it's there remember And signed revenue some only if a X/X or day none. actually that been 'XX that yield deals to or be

on correlates to triangulating it attribute SaaS well deferred quarter that billings, our on, team kind look and you public start revenue on metrics see that you back the And could having of our against. you when current RPOs, strong at a executed and our different company, as of step a our and same and very the RPOs, all the very

Alexei Gogolev

very And a was as have trajectory quick quarter service that with you do them sequentially Where It can any gross us midterm because follow-up were now you on in profitable service your I you the improving margins gross if see of margins. have It improving share margins. seems well. gross you quarters that like strong another appears X sequentially. midterm? wondering

David Morton

profitability to on has breakeven. below yielded to metrics So been we and haven't just get has acknowledge line. the team formal overperforming our stemming updated to I on that from that will the

clients top but our from satisfaction foremost how -- up been been even versus from has or that. line the we've it customer again, leverage and and gotten our a so about serving some profitability always a has more economics lined center first growth And applied, it's

So pleased. very, very

Operator

next question Parker with Our from comes Stifel. Lane

J. Lane

call. quarter's John, the big and working been go-to-market last a couple emphasis on motion over was last the account years, you've that enterprise of the on

in and really on shifting whether Just or around if been large any opportunities? wondering additional them assisting resources on those or hiring centered of there's been sort it's those deal and folks incremental are how any update there's getting mostly there not

John Hall

quarter, middle firms. team very And update change that the that through enterprise accounts emphasize account those large by We more still QX, were continue for to and successfully within but going to among the of so clients in people way some Thanks, some December, expanding the working there's to good there in from us accounts pursue the on, the make there wanted done, organization. much there we TAM the new in and together. Parker. group with did results I'm coverage went both because that go transitions saw to we was that very pleased were existing landing the everything QX. In

sales to the have invest We and continued in organization. marketing

of we us, good lot significant But doing of have successes we that very and also growth We so ahead we're of on the have about that. we're that to and be going the conscious there results people and work folks the field, a grateful seeing to very had from some in December. the in hard really I'm put that

So I'm proud very group. of the

J. Lane

of of principle talked sort like at points it you being guiding set David, little Day, expansion a year Analyst to you I It above that forward? you're and think of some last year what of that going basis margin even this XXX was we this puts looks just guide. run about expectations have to XXX the here. at talk expect the the there the midpoint of takes delivering you ahead Can about and should

David Morton

sooner We're obviously, Thanks, organization. a and breakeven has slight intended. of growth with a really the positive will top to with than we had set we Yes. that everybody, then to product-led continue on to just a G&A able continue optimize lot where coming our to that originally to yielded be Parker. And invest reminder function opportunity services

that on continue amount functions will engineering so when scale in our invest continue to to those that would. of x we we'll long-term well XX opportunities, we our and as lot that And see dollars in it of billion see in product we a continue where back model opportunities. And February go-to-market drop since towards as to and $X functions articulated we as we

Operator

Bank with America. Ikeda Koji Our next question of hcomes from

Natalie Howe

is for This Koji. Natalie on Howe

I does products partnerships And partnerships, from you ask, that hear traction AI here? how healthy to into you see marketplace know there. that I are AI in strategy your how mentioned in evolving good wanted that some also especially to it's Microsoft. there come your there's play? with So the were those

in potentially it momentum accelerate that? will So

John Hall

with the so have Natalie. much many of relationships that we of Thanks, past over Yes, core been few strategy the great be our partners alliances the the expertise strategic part that's them is business a a the with of have by how the technology of the that this is in years to in an relationship the obviously, doing AI we Microsoft, work in lot ecosystem, verticals. we have ecosystem do opportunity increasingly extremely that We've can firms. positively available influenced investing on we to the all develop of apply in each in market, to us. market particular, these problems largest been specific of partners

users but a applied positive is a clients. And that in firms client the confidence of together, helping out, And us to enterprise-grade so from in directly Assist reaction have and team Intapp deploy co-demonstrate could relationship, us up. with for this Copilot Walls them the for that solution to CIOs technology is also Microsoft additional with capabilities the the coming and will bring we've because else those that marketplace. for can we the opportunities. is the their we our clients with have Terms and we or very unavailable closeness Assist really that had specific particular us anywhere the or not of working software deploy of bring the lot only strength create we very value them gives relationship helping market our as applications we all sure with in DealCloud our it of the roll partner It's then Intapp into Copilot of system solutions our that the or firms actually the co-sell them, an And executives and and of engineering in for make importance be

about So we're ecosystem very excited strategy. that

Operator

from comes with next Our Tillman Truist question Securities. Terry

Terrell Tillman

quarter? there John, seasonality Dave XQ on-prem is be and is the just larger of Is question, kind follow-up. to and maybe ARR, And anything by some and kind of a is off probably And question on kind converting Cloud customers of that the expectation on some the first David, strength lumpiness there's extrapolating fourth maybe just of that an of strongest going first then in to I baked in of the quarter? related your have kind there some that.

David Morton

Terry, it's Dave.

initial comments quarters and can we and our with John me a there. Let seeing the some around form, are add then in June December respective seasonality take specifically and Yes, clients.

year actually last look ago, half And a feel do. of where half you at of year. off are this we ahead first able been to our we've even successful coming so year, very fiscal of And fiscal of our if first we

And to feel this fiscal previously, portends had revenue the started for best some a and cloud this the didn't up though to we That even work on-prem overcome ARR the of in as indicated in time for and next that continue see see then as and SaaS we cloud I've then we transition, months, line. the to respect that the year, in full we've out half will to the ratability our start quarter initiation. fiscal get X couple so we in well past us that as back in X flight what the off we'll the to XXXX. With you'll

-- but happening favorably the fiscal And as fiscal so you impact transitions we and back keep those to to XXXX. continue progress, to that of deals half and more we'll will of are more continue updated

Terrell Tillman

That's about and in DealCloud obviously, then question. variety then some moving great. And a you maybe to talked the wins of customers John, cloud. legal follow-up

stuff terms the the DealCloud, an you share you have kind cloud, investors mentioned to sometimes about or cetera? either side on AI, more what talked think whether the et the say, short-shifting bit could because growth you example, it's point curious of vitality line improving trend maybe side. in there's little and in past, of I'm slower of the legal time legal the about. curious business, if your is I on Just the their growth legal a of other an on inflection shift business, business, of all I'm I'm of the more in growth the kind part But part probably is I

John Hall

board, on and there really Thank the questions we in It consulting was accounting quarter that, because trends reason to been very Terry. you strong picking underlying years wanted across legal we this invest what business, a just up their have about but optimistic The activity exciting highlight this. pretends for as some about are next very firms. well. for And they're serving and technology are are that to the to in support they looking drive industries their that for doing themselves few will growth

And we've to trusted them industry-specific we're perfectly important cloud in positioned established Microsoft these and them over modern of of be bring to way, AI modern able a players industry-specific to reputation now firms an like systems the many to bring years partner in as solution. the and an to

end through important that do things there plays for think many in more generally. uptick markets I because I So us. think these of optimism, happening in And the of are

Operator

Our Kalia next Saket question Barclays. from comes with

Saket Kalia

which here QX. it journey activity you, conversion just Great. you how is about This right, that on-premise sort is Intapp that? about hitting to healthy going John, forward? the just of great, ARR healthy was like There seen you think that the that on-premise for in because declines changes in Can around maybe that any And for conversions. space activity. maybe making point we've of of sounds drive maybe talk conversion on sort was one bigger there's

John Hall

we've to business smaller the sell the of grow Day But an as place our to important a Thanks, in put smaller at intention Saket. done part our we and only talked our an important We program moving official about Yes. in that. plan. this of this part cloud to is fiscal clients cloud these February is operating continue and year, cloud Investor Obviously, business. and

group migration. make the to We firms helping focused have this an executive on a leading the that's law with

They go. to want

to is try One of many clients of already. have that the how we our cloud well as things emphasize

on was how projects they So technology to just side more AI this practical IT more addition various the their the in It's project that move. get it to that the eager that quarter. of the them about IT inside cloud among AI consolidation. the more to more are. bring firm, for how excited are working they this the to and business do support move to is the of XX% in to project the firms And own we number we're their attractive prioritize of program, a But various activities the receptive

helping think that, us many the number those. So use of agreements the an really increasing I our people that's have move too, of to firms, because and our of partnership MAC with part Microsoft now firms can is Microsoft

all a part us solution them become these help that and more people cloud. have of more the help is it's trend So that optimistic general the in modern we're with we move successful to going even

Saket Kalia

value maybe to Or economics deliver that a follow-up That on is there about it. Got bit of to for it. little you you're on-premise makes Got same conversions? think we sense. should SaaS? my just those Dave, mean, in conversion? additional able you just high-level about from for a that a talk Can topic. I the of sort conversion one-for-one being

David Morton

And started we've been XX% a we've this through that in compliance, and there XX last the days at what commenting either is Saket, the through then point Yes. obviously either opportunity is thus upside cross-sell. through contract experienced that far over we've nominal upsell time. value, seeing additional of

Operator

comes Steve question with Our Enders next from Citi.

Steven Enders

want next of guess, quarters come as account changes like or the any catch-up in potentially broadly commentary effect? like we follow up could guess kind start, point of kind structure? to of some couple that there maybe Okay. Great. of kind here the is at secondarily, any of and I in the this spend on on that's I guess, -- those still through to changes still the some the having I impact the I of flow-through in changes And prior go-to-market are come into

John Hall

through. are December. folks did that a that X.X in we the positive great Thanks, and of saw change, No, working from Steve. were quarter, results with quarters, really us team and It accounts we took job the some making a

continue to to going generally. marketing and transformation, this we're And for invest are talk Dave, in can We sales done. you that particular but about

David Morton

Yes.

was Sorry, I just add to on. Steve, going

it adding whether as sales and to business, of ground start marketing course baked normal scaling to some about in through in our going ensuring the 'XX. invest obviously, FY be continue on feet As we to and and productivity more we're nominal increase marketing, thinking

Steven Enders

Perfect. should Okay. outlook like housekeeping. context. impact quarter? that the maybe how follow-up, quick in may helpful movements impacted? this a Either And be second think ARR or or Any the or billings half quarter just That's FX kind just of about we any

David Morton

some you we a nominal immaterial. is a Most December Intapp But very FX are about No, respect if broader done quarter. strong With do had be currencies. dollar. again, U.S. immaterial. a of quarter, have thinking very impact would in into it's We being contracts for in various to straightforward getting The theme just our will. local

starting then Alex's very question see of a outside at just evolving our the success that just across of to intimated revenue. as had KPIs more I broad-based is are You're lot to a some forward-looking, we pure kind seasonality. And of beginning, SaaS

context 'XX. revenue, this would X/X that So only year had RPO, but in half that calendar signed billings, were also when current back of also indicate to not a in strength some the deferred signed, of the were couple this there putting there calculated was quarter you start deals we go that some

Operator

James. Raymond next Our Sklar with from comes question Alex

Alexander Sklar

specifically How change pricing legal pipeline? is within between quarter on those John, quarter or retention cross-sell/upsell slide that of you that late-stage underpenetrated services big kind of were or second year-to-date? DealCloud you an the this that. how in quarter strong showing and NRR Dave on expansion quarter, nice cross-sell, and Investor then, John, of Really cross-sell some the that the And on base? any buckets Day cloud on this had DealCloud of opportunity at

David Morton

that make be first change for very we the dollars, to I'll opportunities Churn part. like overall kind Well, you, across cross-sell/upsell absolute up if GRR cohort. no how success There that all. Alex, tell material in continues the I'll from of we the answer you us will. view low was

that So for motion enterprise John? that to then And work well us. motion, very, continues very

John Hall

of at all Yes. scale markets. that Alex. have Investor absolutely was across we opportunity the of our cross-sell/upsell Day Thanks, The message

as talked model, We have a about. land and expand we've

price tried entirely to a or use business a unique these Salesforce excellent and of relationship software a For a legal, expertise advisory opportunity. it's professionals horizontal broadly, is then or widgets if in a that's have model. But legal in The for is each systems that specifically an in-house more than these firms services, and do, DealCloud who you professional engagement data the selling is their your apply CRM there built classic business DealCloud you services letter do huge they sell at which custom lot and the how that design have deal largest level, in in for from of different AI, each unique. list, the with model and that do model totally that different of to There's each a really now engagement going is some at what deliver planet. negotiating And level, is way custom firms global to professional AI economy the X% need that It's perspective. firms. on supercharge work, they're with the the these they're process user a at the the they businesses they

is which growth we So what these think a for facing a they're system that go-to-market supports massive purpose-built, firms, it's bring now. to opportunity

horizontal is gets so what a knowledge, not do. each set AI DealCloud of firm's knowledge and of is expertise the of that enable Now that full professionals exactly the themselves their CRM designed network each partners, benefit And full do. the it bring of these weight engagement collective firm's what to among is to expertise and with is client designed classic to to should the an capabilities the

understanding transformation It was, everybody we're what the and pick the So really the AI a little excited. took and references opportunity adopters the while starting to get up. but in get get to very it's us get early and

to names on go we the those were the excited call. so of list through very And

Alexander Sklar

in from productivity changes place? of higher think Or on the and trying And enterprise expectation then quarter comment December. more that as follow-up levels kind is Is kind and can to get around groups still bookings you some broadly make the you you're there productivity we before, before fourth some seeing improved color. Steve's even third about a the Great but back were just that question the exiting to changes of quarter? Okay. of territories at

John Hall

we I had through transformation, think the that one point that is conversation. so we're

after it did well off. too that actually is we've Another played we very that paid it and

about So we're that. excited

sure have in for we just we 'XX were make I that the opportunity 'XX those. we're and that to We talked we setting because performance such wanted here accounts. up covering strong in about large think

grow productivity large do as size So are those continue the is we deals very I into can do think good. accounts, more? to of that Can we significant. you

of very us here. same number. a see. itself And productivity that should very a of At a to pipeline by I'm there's that with outlook deals proud of time, help so did very we this land and bring really here I quarter bunch will work good say excited to large were in performance. the team's a They the ton

lot about So we've where of got headed. we're optimism a

Operator

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

Brian Schwartz

XQ up linearity following more what XQ seeing here are sales just reorganization? on saw in the revert the to last historical versus in you back you fiscal the trends from John, question,

John Hall

In Dave, are how quarters to describing terms linearity the do quarter, about of talk per you we want them? and

David Morton

Yes.

good if it's Brian, quarter, mean -- it's to the we're if within yes, start. I a So off

confident quarter, the very With everybody's and a just going with end start, of everything respect we there tell a I'll good year yes, And that but you the lot a And so to else about on lot in last the at and we've daily was we're that had life whatnot. came prudent deal given. of guide activity.

our were and this kind loaded versus we see So back-end that that pipe. we be I'm at glad where executed last team we plan that No, shouldn't the of in quarter December. March as converted at Do level?

Brian Schwartz

it of Good. of in out increase, lot deals deal you're sizes, because a terms there, And you too? average sizes sounds are deal like then seeing closing

John Hall

that up calculation. of large will some drag your land accounts, we average As the

land the to predict the in. harder Now quarters they're over quarter that we accounts larger said which going to are

end some as opportunity there's large inherent large more or shift more the business And of towards proportionally. in the So and we least TAM lumpiness. the at market

from year more numbers or you're where people deals So But that's significant. average, up where deals, yes, pick you see in is over you we're some TAM should landing. the because step look and going on that's back quarter-to-quarter large so or more, see a if put and really to and variability investing to

Brian Schwartz

Last your sense does hearing terms for to did people X from last the level in that months Is very me. we And it the -- what ago? more better high here of than just outlook. optimistic? John, you spoke seeing macro today it are question just from feel customers maybe time you're macro on

John Hall

in underserved Thanks, need have for for Brian. firms Well, all I and think for the world, and for still in-house, they it the successful the underlying them. have businesses yet see they this but trend somebody building horizontal enterprise solutions software is and for it systems as the the versus industry. cloud been they other there and historically AI and same not These classic they with want out digitalization us themselves built needed

workers valuable important very significantly advisory for the deal supported, work growth for little into But that better their through who the and us better highly technology. they highly corporate around actually is markets. clients market general the a people there the legal some is think work world, are are large I other that is compensated, automated selling doing it So trend extremely benefit of we're when the behind

in of world's for consolidation. There's footprint. is the in significant very order for larger there capital, as just trends legal as shift particular, of whole we That's alternatives. a accounting strong the That markets the clients, that want services being dollar market then sell global serve a lot one to Actually, being the more the to the to secular And they helping of but said, of to advisory business. industry are more have trends. have industry really that growth the supported in a us have us, private industry, corporate it's investment growth end each a some us fundamental that some also drivers

to firms themselves. and world. the larger collaborate and to software enterprise to there's And larger become providers enable solution drives class in larger class So larger natural and partners enterprise demand of and form a those firms for natural that incentive for those these around

lot So flowing thing we've this a to they're then from there's think reasons and heard true. our optimism also own mean I their through their clients, translating recent more that of structurally. is it with clients from I And business.

we're think a I spot in here. So good

Operator

any for John would to I over to the call back Hall remarks. now closing like turn

John Hall

everyone. thanks, attention Well, your questions. We Okay. appreciate your and

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

Operator

Thank for your conference. This participation. Thank you concludes the you.

may now disconnect. You

Intapp (INTA) 4 Feb 252025 Q2 Earnings call transcript