Intapp, Inc. (INTA)
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Earnings Call: Q3 2025

May 6, 2025

Operator

Welcome to the Intapp Fiscal Third Quarter 2025 webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To participate, you will need to press star 11 on your telephone. You will then hear a message advising your hand is raised. To withdraw your question, simply press star 11 again. Please be advised that today's conference is being recorded. Now, it's my pleasure to turn the call over to the Senior Vice President of Investor Relations, David Trone. The floor is yours.

David Trone
Senior VP of Investor Relations, Intapp

Thank you. Welcome to Intapp's Fiscal Third Quarter 2025 financial results. On the call with me today are John Hall, Chairman and CEO of Intapp, and David Morton, Chief Financial Officer. During the course of this conference call, we may make forward-looking statements regarding trends, strategies, and the anticipated performance of our business, including guidance provided for our fiscal fourth quarter and full year 2025. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date, and are subject to various risks and uncertainties, including those described in our SEC filings and other publicly available documents that are difficult to predict and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Intapp disclaims any obligation to update or revise any forward-looking statements except as required by law.

Further, on today's call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results, including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP diluted net income per share, and free cash flow. As a reminder, all of our financial figures we will discuss today are non-GAAP except for revenue and revenue growth, cash and cash equivalents, and total remaining performance obligations. Our GAAP financial results, along with reconciliations of GAAP to non-GAAP financial measures, can be found in today's earnings release and its supplemental financial tables, which are available on our website and as an exhibit to the Form 8-K furnished with the SEC prior to this call, or a supplemental financial presentation which is available on our website. With that, I'll hand the conversation over to John.

John Hall
Chairman and CEO, Intapp

Thank you, David. Good afternoon, everyone. Thank you for joining us today as we share the results of our fiscal third quarter. I'm happy to say that once again we've achieved strong quarterly results driven by the launch of new solutions and AI capabilities, an exciting new acquisition, new partnerships, and an expanding client base around the world. In Q3, our cloud ARR grew to $352 million, up 28% year over year. Cloud now represents 77% of our total ARR of $455 million. In the quarter, we earned SaaS revenue of $85 million, up 28% year over year, and total revenue of $129 million, up 17% year over year. Now, I'd like to share some key innovations and growth drivers from our fiscal third quarter.

In February, we hosted our premier product event, Intapp Amplify, in New York, which was attended by leaders from more than 400 of our client firms. We previewed our latest advancements in alignment with our growth AI strategy, and we demonstrated our ongoing commitment to tailored innovation. First, we announced the general availability of Intapp GeoCloud Activator, a research-backed, AI-enabled growth platform that gives professionals the tools, insights, and coaching they need to build, scale, and apply the most successful business development behaviors. We previewed our transformed Intapp Time product scheduled for release this summer. The new Intapp Time uses generative AI and a modernized user experience to make timekeeping faster and easier for professionals. Complete and accurate time entries help firms grow and better realize revenue while making clients happier by reducing errors and non-compliant billing.

We introduced Intapp Walls for AI, which offers protection against the oversharing of confidential data by AI tools, letting firms confidently deploy AI no matter the provider. We also added three new features to Intapp Assist for GeoCloud. First is an origination capability that uses applied AI to deliver search results based on users' investment criteria and preferences, helping to uncover more opportunities faster than ever before. Next is a smart tagging capability that further automates data capture and enhances organization, ensuring that firm intelligence like client activity, deal status, and prospective opportunities is easy to find, understand, and use. We delivered a prompt studio feature that helps investors' advisors tailor their AI to generate highly personalized insights specific to their role, giving them even better performing AI for their unique investment and client strategies in pursuit of growth.

Zach Poli, an associate at Alterna Equity Partners, told us, "Intapp Assist enables us to include more information on intermediaries and target companies. With smart tagging and AI suggestions, information is inputted faster than ever with 100% accuracy, allowing us to include more and get more done in a shorter timeframe." Following the success and client response to Intapp Amplify in New York, we are looking forward to bringing the event to London this May as well. We are also pleased to be continuing our success in real assets. A key win from this quarter is with a large U.S.-based real assets firm. They recently replaced a legacy horizontal CRM with GeoCloud to access better investor relationship data and accelerate fundraising as they establish new investment lines. We are continuing to grow and enhance our real assets offering through the strategic acquisition of TermSheet, a software provider for real estate teams.

Bringing together GeoCloud and TermSheet adds additional capabilities and expands our ability to serve new personas within real assets. Combined, GeoCloud and TermSheet will deliver a powerful operating system tailored for every aspect of the real assets investment lifecycle. One of our clients told us that this strategic move differentiates Intapp from more narrow deal management solutions, validating that we've chosen a partner who will innovate to help us grow. We're pleased to welcome the TermSheet team to Intapp, further building our unparalleled team of industry experts. Our partner ecosystem also continues to be an important cornerstone of our company's strategy. We're continuing to achieve strong growth, signing eight new partners this quarter and bringing our partner ecosystem to more than 140.

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