Intapp NASDAQ: INTA reported fiscal second-quarter results that management said were driven by new client additions, account expansions, and continued migration to the cloud, alongside growing demand for the company’s applied artificial intelligence capabilities in highly regulated industries.
Second-quarter results show continued cloud transition
Chairman and CEO John Hall said Intapp delivered “strong quarterly results,” citing momentum with enterprise clients and an expanding partner ecosystem. Cloud annual recurring revenue (ARR) rose to $434 million, up 31% year-over-year, while cloud represented 81% of total ARR of $535 million.
For the quarter, Intapp posted SaaS revenue of $102.5 million, up 28% year-over-year, and total revenue of $140.2 million, up 16% year-over-year. CFO David Morton said SaaS now accounts for 73% of total revenue, reflecting “strong demand and a continued shift toward our cloud offerings.” License revenue was $25.4 million, down 9% year-over-year, and professional services revenue was $12.3 million, down 7% year-over-year, which management framed as consistent with the company’s cloud strategy and partner-led implementation model.
Margins, cash flow, and key metrics
Morton emphasized margin expansion and cash generation during the quarter. Non-GAAP gross margin was 78.1%, up from 76.7% a year earlier, which he attributed to favorable mix and cloud efficiency gains. Non-GAAP operating income rose to $27.7 million from $18.9 million in the prior-year period, and non-GAAP diluted EPS was $0.33.
Free cash flow was $22.2 million, and Intapp ended the quarter with $191.2 million in cash and cash equivalents, reflecting the impact of share repurchases during the period.
Operationally, the company highlighted:
- Cloud net revenue retention rate of 124%.
- Remaining performance obligations (RPO) of $777.1 million, up 26% year-over-year.
- 834 clients generating at least $100,000 in ARR, up from 728 a year ago (30% of the total client base).
AI roadmap and product updates
Hall said the company is executing a “vertical AI roadmap” intended to increase adoption of AI in the industries Intapp serves. He described Intapp’s AI approach as automating rote tasks while also providing actionable insights derived from a firm’s proprietary information, enriched with Intapp’s industry graph data model and third-party sources.
Among product highlights, Hall pointed to a recent release of Intapp Time that includes “major new AI features” aimed at faster and more accurate timekeeping. He said the release has been a catalyst for cloud migrations, citing Buchanan Ingersoll & Rooney and “multiple Am Law 100 clients” moving time instances to the cloud. He also said the release is attracting first-time buyers, naming Seyfarth Shaw and Burr & Forman.
Hall added that Intapp delivered more than 70 new AI capabilities and enhancements to DealCloud, including features intended to save time, surface personalized insights, and support information security by monitoring data access in real time.
Partner ecosystem and Microsoft co-sell momentum
Management repeatedly highlighted the role of partners, particularly Microsoft. Hall said Intapp’s ecosystem includes Microsoft and more than 145 curated data, technology, and services partners, and he noted that partners were directly involved in seven of the company’s 10 largest deals in the quarter.
Hall said more than half of Intapp’s largest wins were jointly executed with Microsoft, and in several cases Microsoft contributed Azure investment dollars to accelerate deals. In the Q&A, Hall said Azure Marketplace agreements have tended to skew toward enterprise firms, can shorten sales cycles for customers with existing Azure spend commitments, and have supported cloud migrations for existing clients.
Morton also said participation in the Microsoft Azure Marketplace increased meaningfully year-over-year and called the motion “durable” and “repeatable,” particularly for larger enterprise deployments. He added that service partner certifications rose 35% year-over-year.
Vertical demand trends and capital allocation
Hall detailed demand drivers across Intapp’s verticals. In legal, he cited large U.S. firms adopting AI-powered compliance solutions and cloud-based intake and conflicts modernization. He referenced Ropes & Gray selecting Intapp compliance solutions in the cloud via the Azure Marketplace, as well as continued DealCloud adoption for business development and relationship management. He also cited global anti-money laundering and know-your-client regulation trends as a factor behind wins, naming Reed Smith, Holding Redlich, and a Netherlands-based firm.
In accounting, Hall said private equity investment and mergers are driving modernization. He cited a large U.S. public accounting firm expanding its use of Intapp Employee Compliance, as well as BKL and Gravita replacing legacy systems with Intapp Collaboration. In financial services, Hall described investment banks replacing horizontal CRM systems with DealCloud, and cited Meridian Capital and a “prestigious boutique investment bank” adopting DealCloud after a pilot.
Hall also pointed to traction in real assets, saying the April 2025 acquisition of Termsheet has helped attract new clients. He cited Neuberger Berman moving from a legacy CRM to DealCloud, along with wins at a mixed-use and multifamily housing developer and Smith Douglas.
On capital allocation, Morton said Intapp’s board authorized a $150 million share repurchase program in August 2025 and that the company repurchased $100 million, or about 2.3 million shares, in Q2. Combined with first-quarter activity, he said the authorization was fully utilized, totaling about 3.4 million shares repurchased. In January 2026, the board authorized an additional $200 million repurchase program.
Looking ahead, Intapp guided for fiscal third-quarter SaaS revenue of $105 million to $106 million and total revenue of $143.8 million to $144.8 million, with non-GAAP operating income of $23.1 million to $24.1 million and non-GAAP EPS of $0.27 to $0.29 based on about 83 million diluted shares. Morton said the outlook includes incremental marketing spend tied to the upcoming Intapp Amplify product showcase and targeted investments to increase the pace of delivery on the company’s AI suite.
For the full year, Intapp projected SaaS revenue of $415 million to $419 million and total revenue of $570.3 million to $574.3 million, along with non-GAAP operating income of $99.9 million to $103.9 million and non-GAAP EPS of $1.20 to $1.24.
Management also pointed investors to an upcoming Investor Day in New York City followed by the Intapp Amplify event, where the company plans to share additional AI-focused updates and product announcements.
About Intapp NASDAQ: INTA
Intapp, Inc, headquartered in Palo Alto, California, is a leading provider of cloud-based software solutions designed to meet the unique needs of professional services firms, including law firms, accounting practices, and financial institutions. The company's integrated platform connects front-office business development with back-office risk and compliance functions, enabling organizations to streamline workflows, improve collaboration and enhance client service.
Intapp's suite of applications—such as Intake, Conflicts, Risk, Open, Time and Flow—addresses the entire client lifecycle.
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