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1. Company Snapshot

1.a. Company Description

Intapp, Inc., through its subsidiary, Integration Appliance, Inc., provides industry-specific cloud-based software solutions for the professional and financial services industry in the United States, the United Kingdom, and internationally.Its solutions include DealCloud, a deal and relationship management solution that manages financial services firms' market relationships, prospective clients and investments, current engagements and deal processes, and operations and compliance activities; and OnePlace, a solution to manage various aspects of professional services firms' client and engagement lifecycle.The company's solutions enable private capital, investment banking, legal, accounting, and consulting firms to realize the benefits of modern AI and cloud-based architectures for their critical business functions without compromising industry-specific functionality or regulatory compliance.


It sells its software on a subscription basis through a direct enterprise sales model.The company was formerly known as LegalApp Holdings, Inc.and changed its name to Intapp, Inc.


in February 2021.Intapp, Inc.was founded in 2000 and is headquartered in Palo Alto, California.

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1.b. Last Insights on INTA

Intapp, Inc.'s recent performance was positively driven by its Q1 2026 earnings beat, with quarterly earnings of $0.24 per share, surpassing the Zacks Consensus Estimate of $0.19 per share. The company's strong fundamentals and attractive entry points have been highlighted by Bank of America as a standout opportunity. Institutional investors, such as AlphaQuest LLC and Teacher Retirement System of Texas, have also shown confidence in the company, purchasing shares. With a consensus rating of "Hold" from nine brokerages, Intapp's growth prospects remain promising.

1.c. Company Highlights

2. Intapp's Strong Q2 2025 Earnings Reflect Robust Cloud Growth and Operational Efficiency

Intapp delivered a stellar fiscal Q2 2025, showcasing strong financial performance and operational momentum. The company reported total revenue of $121.2 million, a 17% year-over-year increase, with SaaS revenue growing 27% to $80 million. Cloud Annual Recurring Revenue (ARR) surged 29% to $331 million, now accounting for 76% of total ARR, which stood at $437 million. Non-GAAP gross margin improved to 76.7%, while non-GAAP operating income rose to $18.9 million, translating to a non-GAAP diluted EPS of $0.21. Free cash flow was a healthy $25.2 million, and the company ended the quarter with a strong cash position of $285.6 million.

Publication Date: Feb -27

📋 Highlights
  • Cloud ARR Growth Accelerates:: Cloud ARR surged 29% year-over-year to $331 million, now accounting for 76% of total ARR, demonstrating strong adoption of Intapp's cloud-based solutions.
  • Revenue Growth AcrossSegments:: SaaS revenue grew 27% to $80 million, while total revenue rose 17% to $121.2 million, reflecting robust demand for Intapp's products and services.
  • Improved Profitability:: Non-GAAP gross margin expanded to 76.7%, and non-GAAP operating income climbed to $18.9 million, with non-GAAP diluted EPS of $0.21, showcasing enhanced profitability.
  • Strong International and Client Growth:: International revenue grew 24% year-over-year, and cloud net revenue retention remained healthy at 119%, with notable client wins and expansions across industries.
  • Confident Guidance for Q3 and Full Year:: Intapp provided upbeat guidance, expecting Q3 SaaS revenue of $84-$85 million and full-year SaaS revenue of $328.8-$332.8 million, reflecting optimism in its growth trajectory.

Operational Highlights and Strategic Progress

Client momentum was broad-based, with new wins such as Alvarez & Marsal, Milsted Langdon, and Armanino adopting Intapp solutions. Existing clients like Troutman Pepper and Blank Rome expanded their use of the platform, while several firms migrated to the cloud for enhanced integration and compliance. International revenue grew 24% year-over-year, and cloud net revenue retention remained robust at 119%. The enterprise client base continued to expand, with over 2,650 clients, including 728 generating at least $100,000 in annual recurring revenue.

Guidance and Management Commentary

Management expressed optimism about growth opportunities, driven by strong demand for AI, cloud adoption, and modernization across its target industries. David Morton highlighted the company's overperformance in service gross margins, emphasizing profitability and customer satisfaction. John Hall noted progress in enterprise account go-to-market motions, with continued investments in sales and marketing planned to support growth.

Valuation Analysis

Intapp's strong financial performance and growth prospects are reflected in its valuation metrics. The company currently trades at a price-to-sales (P/S) ratio of 11.13, which is elevated but aligns with its high-growth profile. The free cash flow yield of 1.72% suggests healthy cash generation, while the enterprise value-to-EBITDA ratio of -715.41 reflects the market's confidence in its long-term profitability. Given the strong execution and favorable industry trends, the stock appears fairly valued for investors seeking exposure to cloud-based legal and professional services software.

3. NewsRoom

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Intapp, Inc. (INTA) Presents at UBS Global Technology and AI Conference 2025 Transcript

Dec -02

Source: seekingalpha.com

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Connor Clark & Lunn Investment Management Ltd. Has $1.71 Million Stock Holdings in Intapp, Inc. $INTA

Nov -17

Source: defenseworld.net

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Bank of America highlights 5 stocks that can run up post earnings

Nov -08

Source: invezz.com

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Intapp DealCloud named Deal Origination Solution of the Year: Credit at the 2025 Private Equity Wire U.S. Awards

Nov -07

Source: businesswire.com

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Intapp, Inc. (INTA) Q1 2026 Earnings Call Transcript

Nov -05

Source: seekingalpha.com

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Top 10 Quant Stocks Of 2025 Up 45%

Nov -05

Source: seekingalpha.com

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Here's What Key Metrics Tell Us About Intapp (INTA) Q1 Earnings

Nov -05

Source: zacks.com

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Intapp (INTA) Beats Q1 Earnings and Revenue Estimates

Nov -05

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.67%)

6. Segments

Software-as-a-Service and Support

Expected Growth: 10.55%

Intapp's 10.55% growth in Software-as-a-Service and Support is driven by increasing demand for cloud-based solutions, expansion into new markets, and high customer retention rates. The company's focus on innovation, strategic partnerships, and operational efficiency also contribute to its growth. Additionally, the rising need for professional services firms to digitize their operations and improve profitability further fuels Intapp's growth.

Professional Services

Expected Growth: 11.67%

Intapp's Professional Services segment growth of 11.67% is driven by increasing demand for cloud-based software solutions, expansion into new markets, and strategic partnerships. The company's focus on innovation, customer satisfaction, and operational efficiency also contribute to its growth. Additionally, the rising need for professional services firms to digitize and automate their operations fuels demand for Intapp's solutions.

Subscription License

Expected Growth: 10.27%

Intapp's Subscription License growth of 10.27% is driven by increasing demand for cloud-based software solutions, expansion into new markets, and strategic partnerships. The company's focus on innovation, customer satisfaction, and competitive pricing also contribute to its growth. Additionally, the rising need for professional services automation and risk management solutions in the financial and legal industries further fuels the segment's growth.

7. Detailed Products

DealCloud

A cloud-based platform that provides deal management, pipeline management, and relationship management capabilities to private equity firms, investment banks, and corporate development teams.

Intapp Workflow

A workflow automation platform that streamlines business processes, automates tasks, and provides real-time visibility into workflows.

Intapp Time

A time tracking and billing solution that helps professional services firms to capture time, manage expenses, and generate invoices.

Intapp Experience

A client experience platform that provides a 360-degree view of client relationships, enabling firms to deliver personalized experiences and improve client satisfaction.

Intapp Risk & Compliance

A risk and compliance platform that helps firms to identify, assess, and mitigate risks, ensuring compliance with regulatory requirements.

8. Intapp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Intapp, Inc. is medium due to the presence of alternative software solutions in the market, but the company's strong brand reputation and customer loyalty mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is low for Intapp, Inc. as the company's software solutions are highly specialized and customized, making it difficult for customers to switch to alternative providers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium for Intapp, Inc. as the company relies on a few key suppliers for its technology and infrastructure, but the company's strong relationships with these suppliers mitigate this risk.

Threat Of New Entrants

The threat of new entrants is high for Intapp, Inc. as the company operates in a rapidly evolving industry with low barriers to entry, making it easier for new competitors to emerge.

Intensity Of Rivalry

The intensity of rivalry is high for Intapp, Inc. as the company operates in a highly competitive industry with many established players, leading to intense competition for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 16.53%
Debt Cost 3.95%
Equity Weight 83.47%
Equity Cost 6.74%
WACC 6.28%
Leverage 19.81%

11. Quality Control: Intapp, Inc. passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Blackbaud

A-Score: 4.5/10

Value: 7.1

Growth: 3.4

Quality: 7.4

Yield: 0.0

Momentum: 2.0

Volatility: 7.0

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DoubleVerify Holdings

A-Score: 4.2/10

Value: 4.2

Growth: 9.0

Quality: 7.1

Yield: 0.0

Momentum: 1.0

Volatility: 4.0

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Bill.com

A-Score: 4.0/10

Value: 2.9

Growth: 9.4

Quality: 4.6

Yield: 0.0

Momentum: 4.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
Intapp

A-Score: 4.0/10

Value: 5.0

Growth: 7.8

Quality: 4.5

Yield: 0.0

Momentum: 2.0

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
Asana

A-Score: 3.7/10

Value: 4.4

Growth: 6.3

Quality: 3.7

Yield: 0.0

Momentum: 6.0

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
Instructure Holdings

A-Score: 3.7/10

Value: 3.1

Growth: 7.8

Quality: 3.1

Yield: 0.0

Momentum: 5.0

Volatility: 3.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

44.25$

Current Price

44.25$

Potential

-0.00%

Expected Cash-Flows