Intapp announces second quarter fiscal year 2026 financial results
PALO ALTO, Calif.--( BUSINESS WIRE)--Intapp, Inc. (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, announced financial results for its fiscal second quarter ended December 31, 2025. Intapp also provided its outlook for the third quarter and the full fiscal year 2026.
“I am pleased to report our strong second quarter which was supported by the addition of new clients and the expansion of existing client accounts,” said John Hall, CEO of Intapp. “Our results reflect our proficiency in serving enterprise clients, our growing partner ecosystem, and demand for our new AI-driven solutions in the highly-regulated industries we serve.”
Second Quarter of Fiscal Year 2026 Financial Highlights
Business Highlights
Fiscal 2026 Outlook
Third Quarter
Fiscal Year
(in millions, except per share data)
SaaS revenue
$105.0 - $106.0
$415.0 - $419.0
Total revenue
$143.8 - $144.8
$570.3 - $574.3
Non-GAAP operating income
$23.1 - $24.1
$99.9 - $103.9
Non-GAAP diluted net income per share
$0.27 - $0.29
$1.20 - $1.24
The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to the “Forward-Looking Statements” safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
The information presented in this press release includes non-GAAP financial measures such as “non-GAAP operating income,” “non-GAAP net income,” and “non-GAAP diluted net income per share.” Refer to “Non-GAAP Financial Measures and Other Metrics” for a discussion of these measures and the financial tables below for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
The guidance regarding non-GAAP operating income excludes known pre-tax charges related to estimated stock-based compensation of $28.7 million for the third quarter of fiscal year 2026 and $112.6 million for fiscal year 2026 and amortization of intangible assets of $2.9 million for the third quarter of fiscal year 2026 and $10.6 million for fiscal year 2026. The guidance regarding non-GAAP diluted net income per share excludes known pre-tax charges related to estimated stock-based compensation of $0.35 per share for the third quarter of fiscal year 2026 and $1.35 per share for fiscal year 2026 and amortization of intangible assets of $0.03 per share for the third quarter of fiscal year 2026 and $0.13 per share for fiscal year 2026. The Company has not included a quantitative reconciliation of its guidance for non-GAAP operating income and non-GAAP diluted net income per share to their most directly comparable GAAP financial measures, other than stock-based compensation and amortization of intangible assets, because certain of these reconciling items, including expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and income tax effect of non-GAAP adjustments, could be highly variable and cannot be reasonably predicted without unreasonable effort. This is due to the inherent difficulty of forecasting the timing of certain events that have not yet occurred and are out of the Company’s control and the amounts of associated reconciling items. Please note that the unavailable reconciling items could significantly impact the Company’s GAAP operating results.
Corporate Presentation
A supplemental financial presentation and other information will be accessible through Intapp’s investor relations website at https://investors.intapp.com/.
Webcast
Intapp will host a conference call for analysts and investors on Tuesday, February 3, 2026, beginning at 2:00 p.m. PT (5:00 p.m. ET). The call will be webcast live via the “Investors” section of the Intapp company website at https://investors.intapp.com/. A replay of the call will be available through the Intapp website for 90 days.
About Intapp
Intapp software helps professionals unlock their teams’ knowledge, relationships, and operational insights to increase value for their firms. Using the power of Applied AI, we make firm and market intelligence easy to find, understand, and use. With Intapp’s portfolio of vertical SaaS solutions, professionals can apply their collective expertise to make smarter decisions, manage risk, and increase competitive advantage. The world’s top firms — across accounting, consulting, investment banking, legal, private capital, and real assets — trust Intapp’s industry-specific platform and solutions to modernize and drive new growth.
Forward-Looking Statements
This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the third quarter and full fiscal year 2026, growth strategy, business plans and market position. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” “expand,” “outlook” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including: our ability to continue our growth at or near historical rates; our future financial performance and ability to be profitable; the effect of global events on the U.S. and global economies, our business, our employees, our results of operations, our financial condition, demand for our products, sales and implementation cycles, and the health of our clients’ and partners’ businesses; our ability to prevent and respond to data breaches, unauthorized access to client data or other disruptions of our solutions; our ability to effectively manage U.S. and global market and economic conditions, including inflationary pressures, economic and market downturns and volatility in the financial services industry, particularly adverse to our targeted industries; the effect on our customers of the imposition of additional tariffs, duties, or taxes, changes to existing trade agreements, and other charges or barriers to trade and any resulting impact to global stock markets, foreign currency exchange rates, and existing inflationary pressures; the length and variability of our sales cycle; our ability to attract and retain clients; our ability to attract and retain talent; our ability to compete in highly competitive markets, including AI products; our ability to manage the implementation of AI into our products and services and to comply with U.S. and global laws and regulations regarding AI; our ability to manage additional complexity, burdens, and volatility in connection with our international sales and operations; the successful assimilation or integration of the businesses, technologies, services, products, personnel or operations of acquired companies; our ability to incur indebtedness in the future and the effect of conditions in credit markets; the sufficiency of our cash and cash equivalents to meet our liquidity needs; and our ability to maintain, protect, and enhance our intellectual property rights. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.
Non-GAAP Financial Measures and Other Metrics
This press release contains the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted net income per share. These non-GAAP measures exclude the impact of stock-based compensation, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Stock-based compensation includes the net effects of capitalization and amortization of stock-based compensation related to capitalized internal-use software costs. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
Free cash flow is a non-GAAP financial measure, and a supplemental liquidity measure that management uses to evaluate our core operating business and our ability to meet our current and future financing and investing needs. It consists of net cash provided by operating activities less cash paid for purchases of property and equipment. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
Other metrics include total ARR, Cloud ARR and Cloud net revenue retention rate. Total ARR represents the annualized recurring value of all active SaaS and on-premise license contracts at the end of a reporting period. Cloud ARR is the portion of the annualized recurring value of our active SaaS contracts at the end of a reporting period. Contracts with a term other than one year are annualized by taking the committed contract value for the current period divided by number of days in that period, then multiplying by 365. Cloud net revenue retention rate is the portion of our net revenue retention rate, which represents the net revenue retention of our SaaS contracts. We calculate Cloud net revenue retention by starting with the Cloud ARR from the cohort of all clients as of the twelve months prior to the applicable fiscal period, or prior period Cloud ARR. We then calculate the Cloud ARR from these same clients as of the current fiscal period, or current period Cloud ARR. We then divide the current period Cloud ARR by the prior period Cloud ARR to calculate the Cloud net revenue retention.
We believe these non-GAAP financial measures and metrics provide useful information to investors as they are used by management to manage the business, make planning decisions, evaluate our performance, and allocate resources and provide useful information regarding certain financial and business trends relating to our financial condition and results of operations. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
Guidance for non-GAAP financial measures excludes stock-based compensation expense, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Non-GAAP diluted net income per share is calculated by dividing non-GAAP net income by the estimated diluted weighted average shares outstanding for the period.
INTAPP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data and percentages)
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
Revenues:
SaaS
$
102,458
$
79,976
$
199,982
$
156,852
License
25,449
28,017
54,636
56,509
Professional services
12,301
13,216
24,617
26,653
Total revenues
140,208
121,209
279,235
240,014
Cost of revenues:
SaaS
18,242
16,292
36,102
31,610
License
1,348
1,630
2,916
3,382
Professional services
15,480
14,549
31,248
29,413
Total cost of revenues
35,070
32,471
70,266
64,405
Gross profit
105,138
88,738
208,969
175,609
Gross margin
75.0
%
73.2
%
74.8
%
73.2
%
Operating expenses:
Research and development
39,283
33,325
80,217
65,752
Sales and marketing
46,691
40,791
95,477
78,551
General and administrative
26,341
24,808
54,907
48,746
Total operating expenses
112,315
98,924
230,601
193,049
Operating loss
(7,177
)
(10,186
)
(21,632
)
(17,440
)
Interest and other income (expense), net
1,915
(202
)
2,974
3,220
Net loss before income taxes
(5,262
)
(10,388
)
(18,658
)
(14,220
)
Income tax (expense) benefit
(672
)
171
(1,629
)
(517
)
Net loss
$
(5,934
)
$
(10,217
)
$
(20,287
)
$
(14,737
)
Net loss per share, basic and diluted
$
(0.07
)
$
(0.13
)
$
(0.25
)
$
(0.19
)
Weighted-average shares used to compute net loss per share, basic and diluted
81,048
78,118
81,465
76,861
INTAPP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
December 31, 2025
June 30, 2025
Assets
Current assets:
Cash and cash equivalents
$
191,152
$
313,109
Restricted cash
200
200
Accounts receivable, net
119,318
89,667
Unbilled receivables, net
15,465
19,462
Other receivables, net
3,991
5,866
Prepaid expenses
11,426
11,971
Deferred commissions, current
17,844
15,605
Total current assets
359,396
455,880
Property and equipment, net
24,715
23,157
Operating lease right-of-use assets
17,713
18,139
Goodwill
326,101
326,260
Intangible assets, net
34,962
40,699
Deferred commissions, noncurrent
20,873
20,761
Other assets
11,419
9,265
Total assets
$
795,179
$
894,161
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
16,402
$
16,497
Accrued compensation
36,885
51,654
Accrued expenses
7,169
12,647
Deferred revenue, net
283,073
256,994
Other current liabilities
15,193
12,066
Total current liabilities
358,722
349,858
Deferred tax liabilities
1,420
1,716
Deferred revenue, noncurrent
4,011
2,002
Operating lease liabilities, noncurrent
14,836
16,114
Other liabilities
5,941
4,706
Total liabilities
384,930
374,396
Stockholders’ equity:
Common stock
81
82
Additional paid-in capital
1,085,919
1,025,712
Accumulated other comprehensive loss
—
(630
)
Accumulated deficit
(675,751
)
(505,399
)
Total stockholders’ equity
410,249
519,765
Total liabilities and stockholders’ equity
$
795,179
$
894,161
INTAPP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
Cash Flows from Operating Activities:
Net loss
$
(5,934
)
$
(10,217
)
$
(20,287
)
$
(14,737
)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
4,649
4,372
9,221
8,839
Amortization of operating lease right-of-use assets
1,517
1,278
2,947
2,558
Accounts receivable allowances
361
273
828
823
Stock-based compensation
30,697
25,411
57,984
45,400
Change in fair value of contingent consideration
—
—
500
(1,004
)
Deferred income taxes
(138
)
(26
)
(297
)
(74
)
Foreign currency impact from dissolution of subsidiary
—
—
799
—
Asset impairments
—
—
1,351
—
Other
38
38
76
76
Changes in operating assets and liabilities:
Accounts receivable
(58,714
)
(23,742
)
(30,150
)
6,465
Unbilled receivables, current
2,126
(1,009
)
3,997
(486
)
Prepaid expenses and other assets
1,167
(2,433
)
1,868
(5,001
)
Deferred commissions
(2,860
)
(1,832
)
(2,351
)
(165
)
Accounts payable and accrued liabilities
2,577
185
(19,292
)
(7,875
)
Deferred revenue, net
47,863
32,784
28,088
15,509
Operating lease liabilities
(1,764
)
(1,344
)
(3,085
)
(2,675
)
Other liabilities
1,296
1,501
4,479
2,032
Net cash provided by operating activities
22,881
25,239
36,676
49,685
Cash Flows from Investing Activities:
Purchases of property and equipment
(664
)
(62
)
(1,222
)
(416
)
Capitalized internal-use software costs
(2,117
)
(1,915
)
(4,411
)
(3,449
)
Business combinations, net of cash acquired
—
—
(9
)
(897
)
Purchase of strategic investments
—
—
(2,990
)
—
Net cash used in financing activities
(2,781
)
(1,977
)
(8,632
)
(4,762
)
Cash Flows from Financing Activities:
Payments for deferred offering costs
—
—
—
—
Proceeds from stock option exercises
5,332
9,666
8,134
32,584
Proceeds from employee stock purchase plan
2,153
1,970
2,153
1,970
Payments related to tax withholding for vested equity awards
(8,558
)
—
(8,558
)
—
Payments of contingent consideration and holdback associated with acquisitions
(1,236
)
(1,023
)
(1,236
)
(2,410
)
Repurchases of common stock
(100,046
)
—
(150,068
)
—
Net cash (used in) provided by financing activities
(102,355
)
10,613
(149,575
)
32,144
Effect of foreign currency exchange rate changes on cash and cash equivalents
(30
)
(2,091
)
(426
)
194
Net (decrease) increase in cash, cash equivalents and restricted cash
(82,285
)
31,784
(121,957
)
77,261
Cash, cash equivalents and restricted cash - beginning of period
273,637
254,047
313,309
208,570
Cash, cash equivalents and restricted cash - end of period
$
191,352
$
285,831
$
191,352
$
285,831
INTAPP, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited, in thousands, except per share data and percentages)
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP financial measures for the periods indicated below:
Non-GAAP Gross Profit
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
GAAP gross profit
$
105,138
$
88,738
$
208,969
$
175,609
Adjusted to exclude the following:
Stock-based compensation
2,647
2,702
5,035
4,934
Amortization of intangible assets
1,710
1,509
3,421
3,080
Restructuring and other costs
—
53
74
62
Non-GAAP gross profit
$
109,495
$
93,002
$
217,499
$
183,685
Non-GAAP gross margin
78.1
%
76.7
%
77.9
%
76.5
%
Non-GAAP Operating Expenses
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
GAAP research and development
$
39,283
$
33,325
$
80,217
$
65,752
Stock-based compensation
(8,634
)
(6,800
)
(16,621
)
(11,424
)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(605
)
—
(1,680
)
—
Restructuring and other costs
(75
)
(113
)
(440
)
(162
)
Non-GAAP research and development
$
29,969
$
26,412
$
61,476
$
54,166
GAAP sales and marketing
$
46,691
$
40,791
$
95,477
$
78,551
Stock-based compensation
(9,284
)
(7,232
)
(17,177
)
(12,970
)
Amortization of intangible assets
(1,102
)
(1,268
)
(2,202
)
(2,536
)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(605
)
—
(1,680
)
—
Restructuring and other costs
—
—
(46
)
—
Non-GAAP sales and marketing
$
35,700
$
32,291
$
74,372
$
63,045
GAAP general and administrative
$
26,341
$
24,808
$
54,907
$
48,746
Stock-based compensation
(10,132
)
(8,677
)
(19,151
)
(16,072
)
Amortization of intangible assets
(57
)
(163
)
(114
)
(326
)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(57
)
—
(562
)
1,004
Transaction costs (2)
8
(530
)
(561
)
(664
)
Restructuring and other costs
(10
)
(64
)
(133
)
(236
)
Asset impairments (3)
—
—
(1,351
)
—
Non-GAAP general and administrative
$
16,093
$
15,374
$
33,035
$
32,452
Non-GAAP Operating Income
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
GAAP operating loss
$
(7,177
)
$
(10,186
)
$
(21,632
)
$
(17,440
)
Adjusted to exclude the following:
Stock-based compensation
30,697
25,411
57,984
45,400
Amortization of intangible assets
2,869
2,940
5,737
5,942
Expenses associated with acquisition-related contingent and deferred liabilities (1)
1,267
—
3,922
(1,004
)
Transaction costs (2)
(8
)
530
561
664
Restructuring and other costs
85
230
693
460
Asset impairments (3)
—
—
1,351
—
Non-GAAP operating income
$
27,733
$
18,925
$
48,616
$
34,022
Non-GAAP Net Income
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
GAAP net loss
$
(5,934
)
$
(10,217
)
$
(20,287
)
$
(14,737
)
Adjusted to exclude the following:
Stock-based compensation
30,697
25,411
57,984
45,400
Amortization of intangible assets
2,869
2,940
5,737
5,942
Expenses associated with acquisition-related contingent and deferred liabilities (1)
1,267
—
3,922
(1,004
)
Transaction costs (2)
(8
)
530
561
664
Restructuring and other costs
85
230
693
460
Foreign currency impact from dissolution of subsidiary
—
—
799
—
Asset impairments (3)
—
—
1,351
—
Income tax effect of non-GAAP adjustments
(1,425
)
(1,489
)
(2,549
)
(2,513
)
Non-GAAP net income
$
27,551
$
17,405
$
48,211
$
34,212
GAAP net loss per share, basic and diluted
$
(0.07
)
$
(0.13
)
$
(0.25
)
$
(0.19
)
Non-GAAP net income per share, diluted
$
0.33
$
0.21
$
0.57
$
0.41
Weighted-average shares used to compute GAAP net loss per share, basic and diluted
81,048
78,118
81,465
76,861
Weighted-average shares used to compute non-GAAP net income per share, diluted
83,254
83,910
83,848
82,724
Free Cash Flow
Three Months Ended December 31,
Six Months Ended December 31,
2025
2024
2025
2024
Net cash provided by operating activities
$
22,881
$
25,239
$
36,676
$
49,685
Adjusted for the following cash outlay:
Purchases of property and equipment
(664
)
(62
)
(1,222
)
(416
)
Free cash flow
$
22,217
$
25,177
$
35,454
$
49,269
(1)
Consists of incremental costs, which may include, fair value adjustments on contingent liabilities and compensation expenses related to compensation arrangements entered into concurrent with the closing of an acquisition that will become payable, if at all, only upon the achievement of certain performance milestones.
(2)
Consists of costs related to a legal settlement incurred in connection with an acquisition, acquisition-related transaction costs and acquisition termination costs.
(3)
Consists of impairment costs related to capitalized cloud computing implementation costs from our digital transformation initiative.