Intapp Announces First Quarter Fiscal Year 2027 Financial Results
Intapp, Inc. (INTA) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Intapp Announces First Quarter Fiscal Year 2027 Financial Results • First quarter subscription revenue of $125.5 million, up 29% year-over-year • Cloud annual recurring revenue (“ARR”) of $515.3 million, up 28% year-over-year • Trailing twelve months’ cloud net reven
How this was made
The 30-second read
Why it matters
The company delivered higher subscription revenue and ARR growth while narrowing GAAP losses, and it issued guidance for the next quarter and full year, indicating an improving operating trajectory.
Market read
The earnings beat and forward‑looking guidance provide fresh data for traders; the positive metrics may drive short‑term buying pressure.
What to watch
Potential headwinds from AI competition and macro‑economic slowdown could temper the rally.
First quarter subscription revenue of $125.5 million, up 29% year-over-year; total revenue of $161.3 million, up 16% year-over-year; and Cloud ARR of $515.3 million, up 28% year-over-year.
Subscription revenue grew 29% year-over-year, Cloud ARR grew 28% year-over-year, GAAP operating loss narrowed to $(1.1) million, and non-GAAP operating income increased to $35.4 million. The company also reported stronger operating cash flow and free cash flow while guiding to further revenue and non-GAAP operating income in fiscal 2027.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Subscription revenueGAAP | $125.5M | – | 29% |
| License revenueGAAP | $23.03M | – | – |
| Professional services revenueGAAP | $12.74M | – | – |
| Total revenuesGAAP | $161.3M | – | 16% |
| Subscription cost of revenuesGAAP | $19.60M | – | – |
| License cost of revenuesGAAP | $1.16M | – | – |
| Professional services cost of revenuesGAAP | $14.89M | – | – |
| Total cost of revenuesGAAP | $35.66M | – | – |
| Gross profitGAAP | $125.6M | – | – |
| Gross marginGAAP | 77.9% | – | – |
| Non-GAAP gross profitnon-GAAP | $129.7M | – | – |
| Non-GAAP gross marginnon-GAAP | 80.4 % | – | – |
| Research and development expenseGAAP | $40.82M | – | – |
| Sales and marketing expenseGAAP | $57.78M | – | – |
| General and administrative expenseGAAP | $28.06M | – | – |
| Total operating expensesGAAP | $126.7M | – | – |
| Non-GAAP research and developmentnon-GAAP | $31.05M | – | – |
| Non-GAAP sales and marketingnon-GAAP | $45.32M | – | – |
| Non-GAAP general and administrativenon-GAAP | $17.87M | – | – |
| Operating lossGAAP | −$1.06M | – | – |
| Non-GAAP operating incomenon-GAAP | $35.43M | – | – |
| Net lossGAAP | −$1.31M | – | – |
| Non-GAAP net incomenon-GAAP | $34.40M | – | – |
| Net loss per share, basic and dilutedGAAP | $(0.02) | – | – |
| Non-GAAP net income per share, dilutednon-GAAP | $0.44 | – | – |
| Cloud ARR as of September 30, 2026other | $515.3M | – | 28% |
| Cloud ARR as a percentage of total ARR as of September 30, 2026other | 85% | – | – |
| Total ARR as of September 30, 2026other | $607.1M | – | 20% |
| Trailing twelve months' cloud net revenue retention rate as of September 30, 2026other | 123% | – | – |
| Cash and cash equivalents as of September 30, 2026GAAP | $147.7M | – | – |
| Net cash provided by operating activitiesGAAP | $28.42M | – | – |
| Free cash flownon-GAAP | $28.09M | – | – |
| Deferred revenue, net, currentGAAP | $288.1M | – | – |
| Deferred revenue, noncurrentGAAP | $2.28M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| SubscriptionSubscription revenue was reported as $125.5 million, a 29% year-over-year increase. | $125.5M | – | 29% |
| LicenseNo revenue-growth driver was disclosed for the license revenue line item. | $23.03M | – | – |
| Professional servicesNo revenue-growth driver was disclosed for the professional services revenue line item. | $12.74M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Second Quarter Fiscal Year 2027 and Fiscal Year 2027 outlook
- RevenueSecond Quarter Fiscal Year: Subscription revenue $129.1 - $130.1; Total revenue $158.8 - $159.8. Fiscal Year 2027: Subscription revenue $530.5 - $534.5; Total revenue $658.2 - $662.2.
- NoteSecond Quarter Fiscal Year non-GAAP operating income: $31.8 - $32.8.
- NoteFiscal Year 2027 non-GAAP operating income: $136.8 - $140.8.
- NoteSecond Quarter Fiscal Year non-GAAP diluted net income per share: $0.37 - $0.39.
- NoteFiscal Year 2027 non-GAAP diluted net income per share: $1.64 - $1.68.
- NoteGuidance regarding non-GAAP operating income excludes estimated stock-based compensation of $36.6 million for the second quarter of fiscal year 2027 and $138.1 million for fiscal year 2027, and amortization of intangible assets of $1.9 million for the second quarter of fiscal year 2027 and $7.4 million for fiscal year 2027.
- NoteGuidance regarding non-GAAP diluted net income per share excludes estimated stock-based compensation of $0.46 per share for the second quarter of fiscal year 2027 and $1.73 per share for fiscal year 2027, and amortization of intangible assets of $0.02 per share for the second quarter of fiscal year 2027 and $0.09 per share for fiscal year 2027.
Capital returns
- For the three months ended September 30, 2026, Intapp repurchased 0.6 million shares of common stock for an aggregate amount of $25.0 million.
- Repurchases of common stock were $(25,000) for the three months ended September 30, 2026, compared to $(50,022) for the three months ended September 30, 2025.
- Payments related to tax withholding for vested equity awards were $(16,802) for the three months ended September 30, 2026.
What drove it
- Cloud ARR was $515.3 million as of September 30, 2026, up 28% year-over-year, and represented 85% of total ARR compared to 80% as of September 30, 2025.
- Total ARR was $607.1 million as of September 30, 2026, up 20% year-over-year.
- Intapp reported a trailing twelve months' cloud net revenue retention rate of 123%, citing upsell and cross-sell activity among existing clients.
- The company cited the general availability of Intapp Celeste and the introduction of Compliance with Celeste and Time with Celeste.
- Intapp expanded strategic collaborations with OpenAI, Moody's, and Legora and launched the Intapp Profitability Network.
- As of September 30, 2026, Intapp served more than 1,400 clients with contracts greater than $50,000 of ARR, including 908 clients with contracts greater than $100,000 of ARR.
Concerns
- License revenue was $23,030 compared to $29,187 in the prior-year quarter.
- Cash and cash equivalents were $147.7 million as of September 30, 2026, compared to $162.8 million as of June 30, 2026.
- Deferred revenue, net, current was $288,134 as of September 30, 2026, compared to $315,113 as of June 30, 2026.
- The company reported a GAAP operating loss of $(1,062) and a GAAP net loss of $(1,306).
- The company stated that certain unavailable reconciliation items could significantly impact GAAP operating results.
What to watch
- Execution against second-quarter fiscal 2027 subscription revenue guidance of $129.1 - $130.1 and total revenue guidance of $158.8 - $159.8.
- Execution against fiscal 2027 subscription revenue guidance of $530.5 - $534.5, total revenue guidance of $658.2 - $662.2, and non-GAAP operating income guidance of $136.8 - $140.8.
- Cloud ARR growth, the percentage of total ARR represented by Cloud ARR, and the trailing twelve months' cloud net revenue retention rate.
- The adoption of Intapp Celeste, Compliance with Celeste, and Time with Celeste within client workflows.
- The scale of stock-based compensation excluded from non-GAAP guidance: $36.6 million for the second quarter of fiscal year 2027 and $138.1 million for fiscal year 2027.
Balance sheet and cash flow
- Cash and cash equivalents were $147.7 million as of September 30, 2026, compared to $162.8 million as of June 30, 2026.
- Net cash provided by operating activities was $28.4 million, compared to $13.8 million for the three months ended September 30, 2025.
- Free cash flow was $28,089, compared to $13,237 for the three months ended September 30, 2025.
- Purchases of property and equipment were $(330), compared to $(558) for the three months ended September 30, 2025.
- Net cash used in investing activities was $(2,318), compared to $(5,851) for the three months ended September 30, 2025.
- Net cash used in financing activities was $(41,353), compared to $(47,220) for the three months ended September 30, 2025.
- Net decrease in cash, cash equivalents and restricted cash was $(15,119), compared to $(39,672) for the three months ended September 30, 2025.
Analysis
Intapp reported first-quarter fiscal 2027 total revenue of $161.3 million, up 16% year-over-year, with subscription revenue of $125.5 million, up 29% year-over-year. The revenue mix showed subscription growth while license revenue was $23,030 versus $29,187 in the prior-year quarter. Professional services revenue was $12,744 versus $12,316. Cloud ARR reached $515.3 million, up 28% year-over-year, and total ARR reached $607.1 million, up 20% year-over-year.
The cloud mix continued to expand. Cloud ARR represented 85% of total ARR as of September 30, 2026, compared with 80% as of September 30, 2025. The trailing twelve months' cloud net revenue retention rate was 123%, which the company attributed to upsell and cross-sell activity. Intapp also reported more than 1,400 clients with contracts greater than $50,000 of ARR, including 908 clients with contracts greater than $100,000 of ARR.
Profitability improved materially. GAAP gross margin was 77.9%, compared with 74.7%, while non-GAAP gross margin was 80.4%, compared with 77.7%. The GAAP operating loss narrowed to $(1.1) million from $(14.5) million, and non-GAAP operating income increased to $35.4 million from $20.9 million. GAAP net loss narrowed to $(1.3) million from $(14.4) million, while non-GAAP net income rose to $34.4 million from $20.7 million. Stock-based compensation was $33,080 in the quarter and remains a principal exclusion in the non-GAAP presentation.
Cash generation strengthened, with net cash provided by operating activities of $28.4 million compared with $13.8 million and free cash flow of $28.1 million compared with $13.2 million. Intapp repurchased 0.6 million shares for an aggregate amount of $25.0 million. Cash and cash equivalents ended the quarter at $147.7 million, compared with $162.8 million at June 30, 2026, while current deferred revenue was $288,134 compared with $315,113.
The outlook calls for second-quarter fiscal 2027 subscription revenue of $129.1 - $130.1, total revenue of $158.8 - $159.8, non-GAAP operating income of $31.8 - $32.8, and non-GAAP diluted net income per share of $0.37 - $0.39. Full fiscal 2027 guidance calls for subscription revenue of $530.5 - $534.5, total revenue of $658.2 - $662.2, non-GAAP operating income of $136.8 - $140.8, and non-GAAP diluted net income per share of $1.64 - $1.68. Management framed the release around Firm AI products, including the general availability of Intapp Celeste, and further client movement to the cloud.
Management, verbatim
Professional firms need AI that’s governed, grounded in their own data, and built to run the business of the firm. That’s Firm AI, a category Intapp created and defined.
John Hall, Chairman and CEO
With Intapp Celeste now generally available and firms moving to the cloud, we’re confident in where we’re headed.
John Hall, Chairman and CEO
Not in the filing
stated, not guessed- Prior outlook or prior guidance was not provided, so no comparison of actual results with prior guidance is available.
- Debt balance was not reported in the provided filing text.
- GAAP operating-expense guidance was not provided.
- Gross-margin guidance was not provided.
- Tax-rate guidance was not provided.
- GAAP revenue guidance reconciliation for non-GAAP operating income and non-GAAP diluted net income per share was not provided beyond identified stock-based compensation and amortization of intangible assets exclusions.
- Revenue growth rates for license revenue and professional services revenue were not printed.
- Prior-year dollar amounts for Cloud ARR and total ARR were not printed.
- Prior-year or prior-quarter comparison for trailing twelve months' cloud net revenue retention rate was not printed.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Intapp is a Nasdaq‑listed provider of governed AI platforms for professional firms. The 8‑K filing contains its first‑quarter FY2027 financial results and outlook.
Ticker impact
Intapp reported Q1 FY2027 results with 29% YoY subscription revenue growth and issued guidance for Q2 and FY2027.
likely modest upside as the market prices in the issued outlook and issued ARR guidance
Revenue and ARR acceleration together with a narrowed GAAP loss suggest better operating performance, supporting a positive price reaction.
Market effects
Strong growth in governed AI for professional services may boost related SaaS and legal‑tech stocks.
North American tech sector could see a slight lift from the upbeat guidance.
Limited; primarily impacts US‑listed SaaS niche.
Counterpoint
If the market has already priced in the growth, the modest upside may be limited.
Key entities
- companyIntapp, Inc.
NASDAQ‑listed provider of AI solutions for professional services.
