Intapp (NASDAQ:INTA) Releases Earnings Results, Beats Expectations By $0.04 EPS

Intapp (NASDAQ:INTA) posted its quarterly earnings data on Tuesday. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04, FiscalAI reports. Intapp had a negative return on equity of 3.30% and a negative net margin of 7.15%.

Here are the key takeaways from Intapp’s conference call:

• Celeste adoption is accelerating: Intapp said its qualified Celeste pipeline increased approximately 2.5 times sequentially, with Firm AI representing more than 40% of net new bookings in Q1. Demand is reportedly coming from senior firm leaders, existing-client expansions, and new logos across legal, accounting, consulting, financial services, and real assets.
• Cloud momentum and financial performance remained strong, with subscription revenue up 29% year over year to $125.5 million, cloud ARR up 28% to $515.3 million, 123% cloud net revenue retention, and free cash flow more than doubling to $28.1 million. Non-GAAP operating margin expanded to 22% from 15% a year ago.
• Intapp is expanding its AI ecosystem and monetization opportunities through integrations with OpenAI, Anthropic, Harvey, Legora, Microsoft, and other partners. The company expects to monetize Firm AI through existing-customer upgrades, Celeste-led new sales, and governance of third-party AI tools via Walls for AI.
• The transition from on-premises licensing to cloud is pressuring near-term reported results, with license revenue down 21% year over year and second-quarter total revenue guidance implying a sequential decline. Management also acknowledged that Celeste deployment demand is currently exceeding its implementation capacity, creating a potential near-term execution constraint.

Intapp Stock Down 8.9%

NASDAQ INTA traded down $4.20 during trading hours on Tuesday, reaching $42.95. The company’s stock had a trading volume of 1,271,390 shares, compared to its average volume of 959,434. The firm’s 50-day moving average price is $39.92 and its 200-day moving average price is $30.28. Intapp has a 1 year low of $19.01 and a 1 year high of $48.19. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -82.60, a PEG ratio of 18.53 and a beta of 0.34.

Analyst Upgrades and Downgrades

INTA has been the subject of a number of recent research reports. Truist Financial boosted their price objective on Intapp from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Zacks Research upgraded shares of Intapp from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Wall Street Zen raised shares of Intapp from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Barclays upped their price target on shares of Intapp from $29.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, October 12th. Finally, Piper Sandler increased their price objective on shares of Intapp from $25.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.14.

Insider Buying and Selling at Intapp

In related news, insider David Harrison sold 40,284 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $45.26, for a total transaction of $1,823,253.84. Following the completion of the transaction, the insider directly owned 15,599 shares of the company’s stock, valued at approximately $706,010.74. This trade represents a 72.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John T. Hall sold 3,000 shares of Intapp stock in a transaction on Monday, October 19th. The shares were sold at an average price of $44.35, for a total transaction of $133,050.00. Following the completion of the sale, the chief executive officer owned 5,814,808 shares in the company, valued at approximately $257,886,734.80. This represents a 0.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 146,184 shares of company stock valued at $6,126,106 in the last three months. 11.87% of the stock is currently owned by corporate insiders.

Intapp Company Profile

Intapp, Inc develops cloud-based software for professional and financial services firms. Its platform is designed to help organizations manage client and relationship data, business development, risk and compliance processes, collaboration, time tracking, billing, and operational workflows.

The company’s product portfolio includes solutions for relationship management and deal management, professional-services time and billing, conflicts and compliance, document and information management, secure collaboration, and workflow automation.