Intapp announces third quarter fiscal year 2026 financial results

Third quarter SaaS revenue of $107.9 million, up 27% year-over-year Cloud annual recurring revenue (“ARR”) of $459.3 million, up 31% year-over-year Trailing twelve months’ cloud net revenue retention rate as of March 31, 2026 was 123% Intapp, Inc. (NASDAQ: INTA), the leading governed AI platform for professional firms in highly regulated industries, announced financial results for its fiscal third quarter ended March 31, 2026. Intapp also provided its outlook for the fourth quarter and the full fiscal year 2026. “I am pleased to report solid third-quarter results, adding new clients in multiple sectors and expanding the product mix in others,” said John Hall, CEO of Intapp. “We also released the details of Celeste, our firmwide agentic AI platform, that is already driving increased interest across all our clients.” Third Quarter of Fiscal Year 2026 Financial Highlights SaaS revenue was $107.9 million, a 27% year-over-year increase compared to the third quarter of fiscal year 2025.Total revenue was $146.0 million, a 13% year-over-year increase compared to the third quarter of fiscal year 2025.Cloud ARR was $459.3 million as of March 31, 2026, a 31% year-over-year increase compared to Cloud ARR as of March 31, 2025. Cloud ARR represented 82% of total ARR as of March 31, 2026, compared to 77% as of March 31, 2025.Total ARR was $559.9 million as of March 31, 2026, a 23% year-over-year increase compared to total ARR as of March 31, 2025.GAAP operating loss was $(14.2) million, compared to a GAAP operating loss of $(5.7) million in the third quarter of fiscal year 2025.Non-GAAP operating income was $25.7 million, compared to a non-GAAP operating income of $20.3 million in the third quarter of fiscal year 2025.GAAP net loss was $(15.5) million, compared to a GAAP net loss of $(3.0) million in the third quarter of fiscal year 2025.Non-GAAP net income was $23.7 million, compared to a non-GAAP net income of $21.7 million in the third quarter of fiscal year 2025.GAAP net loss per share was $(0.20), compared to a GAAP net loss per share of $(0.04) in the third quarter of fiscal year 2025.Non-GAAP diluted net income per share was $0.29, compared to a non-GAAP diluted net income per share of $0.26 in the third quarter of fiscal year 2025.Cash and cash equivalents were $146.8 million as of March 31, 2026, compared to $313.1 million as of June 30, 2025.For the nine months ended March 31, 2026, net cash provided by operating activities was $100.6 million, compared to net cash provided by operating activities of $85.2 million for the nine months ended March 31, 2025.For the nine months ended March 31, 2026, we repurchased 7.3 million shares of our common stock for an aggregate amount of $250.1 million, including broker fees. Business Highlights As of March 31, 2026, we served more than 1,375 clients with contracts greater than $50,000 of ARR, including 858 clients with contracts greater than $100,000 of ARR.We upsold and cross-sold our existing clients such that our trailing twelve months’ cloud net revenue retention rate as of March 31, 2026 was 123%.We held our annual product event, Intapp Amplify, where we announced the latest advancement in our AI-powered solutions: Celeste, a firmwide agentic AI platform purpose-built for professional firms.We announced plans to work with Anthropic, enabling Intapp to build industry-specific agents powered by Claude.We announced plans to work with Harvey, enabling Intapp to bring our industry-standard ethical wall enforcement directly into their platform.Ropes & Gray, a global law firm, chose DealCloud to accelerate their business development activity, and Celeste to help drive their agentic strategy.We continued to add new clients, including Essential Properties, an internally managed REIT, and Mauldin & Jenkins, a Top 100 Accounting Firm. Fiscal 2026 Outlook Fourth Quarter Fiscal Year (in millions, except per share data) SaaS revenue $113.1 - $114.1 $421.0 - $422.0 Total revenue $149.1 - $150.1 $574.3 - $575.3 Non-GAAP operating income $28.4 - $29.4 $102.7 - $103.7 Non-GAAP diluted net income per share $0.36 - $0.38 $1.22 - $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 $30.2 million for the fourth quarter of fiscal year 2026 and $119.3 million for fiscal year 2026 and amortization of intangible assets of $2.0 million for the fourth 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 $0.38 per share for the fourth quarter of fiscal year 2026 and $1.46 per share for fiscal year 2026 and amortization of intangible assets of $0.03 per share for the fourth 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, May 5, 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 is the governed AI platform for professional firms in highly regulated industries. Intapp’s vertically tailored agentic solutions are built for the specialized workflows, complex relationship networks, and professional compliance requirements of accounting, consulting, investment banking, law, private capital, and real assets firms. By applying Firm AI to core processes and data, Intapp helps partners, dealmakers, and advisors drive firm growth, manage compliance, and improve profitability. 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 fourth 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 March 31, Nine Months Ended March 31, 2026 2025 2026 2025 Revenues: SaaS $ 107,867 $ 84,910 $ 307,849 $ 241,762 License 24,793 31,684 79,429 88,193 Professional services 13,377 12,473 37,994 39,126 Total revenues 146,037 129,067 425,272 369,081 Cost of revenues: SaaS 18,998 16,897 55,100 48,507 License 1,447 1,511 4,363 4,893 Professional services 15,081 14,253 46,329 43,666 Total cost of revenues 35,526 32,661 105,792 97,066 Gross profit 110,511 96,406 319,480 272,015 Gross margin 75.7 % 74.7 % 75.1 % 73.7 % Operating expenses: Research and development 44,144 34,089 124,361 99,841 Sales and marketing 52,550 42,258 148,027 120,809 General and administrative 28,063 25,761 82,970 74,507 Total operating expenses 124,757 102,108 355,358 295,157 Operating loss (14,246 ) (5,702 ) (35,878 ) (23,142 ) Interest and other (expense) income, net (166 ) 3,384 2,808 6,604 Net loss before income taxes (14,412 ) (2,318 ) (33,070 ) (16,538 ) Income tax expense (1,083 ) (634 ) (2,712 ) (1,151 ) Net loss $ (15,495 ) $ (2,952 ) $ (35,782 ) $ (17,689 ) Net loss per share, basic and diluted $ (0.20 ) $ (0.04 ) $ (0.44 ) $ (0.23 ) Weighted-average shares used to compute net loss per share, basic and diluted 78,872 79,890 80,613 77,856 INTAPP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands) March 31, 2026 June 30, 2025 Assets Current assets: Cash and cash equivalents $ 146,823 $ 313,109 Restricted cash 200 200 Accounts receivable, net 80,380 89,667 Unbilled receivables, net 12,058 19,462 Other receivables, net 4,650 5,866 Prepaid expenses 12,978 11,971 Deferred commissions, current 18,654 15,605 Total current assets 275,743 455,880 Property and equipment, net 25,993 23,157 Operating lease right-of-use assets 16,678 18,139 Goodwill 326,101 326,260 Intangible assets, net 32,189 40,699 Deferred commissions, noncurrent 21,554 20,761 Other assets 10,882 9,265 Total assets $ 709,140 $ 894,161 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 17,802 $ 16,497 Accrued compensation 43,748 51,654 Accrued expenses 7,314 12,647 Deferred revenue, net 278,414 256,994 Other current liabilities 13,264 12,066 Total current liabilities 360,542 349,858 Deferred tax liabilities 1,210 1,716 Deferred revenue, noncurrent 3,400 2,002 Operating lease liabilities, noncurrent 13,929 16,114 Other liabilities 9,858 4,706 Total liabilities 388,939 374,396 Stockholders’ equity: Common stock 77 82 Additional paid-in capital 1,112,363 1,025,712 Accumulated other comprehensive loss — (630 ) Accumulated deficit (792,239 ) (505,399 ) Total stockholders’ equity 320,201 519,765 Total liabilities and stockholders’ equity $ 709,140 $ 894,161 INTAPP, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) Three Months Ended March 31, Nine Months Ended March 31, 2026 2025 2026 2025 Cash Flows from Operating Activities: Net loss $ (15,495 ) $ (2,952 ) $ (35,782 ) $ (17,689 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 4,696 4,153 13,917 12,992 Amortization of operating lease right-of-use assets 1,661 1,228 4,608 3,786 Accounts receivable allowances 385 669 1,213 1,492 Stock-based compensation 31,111 22,715 89,095 68,115 Change in fair value of contingent consideration 6 — 506 (1,004 ) Deferred income taxes (204 ) (311 ) (501 ) (385 ) Foreign currency impact from dissolution of subsidiary — — 799 — Asset impairments — — 1,351 — Other 70 260 146 336 Changes in operating assets and liabilities: Accounts receivable 38,919 24,973 8,769 31,438 Unbilled receivables, current 3,407 (3,780 ) 7,404 (4,266 ) Prepaid expenses and other assets (1,614 ) (1,700 ) 254 (6,701 ) Deferred commissions (1,491 ) 861 (3,842 ) 696 Accounts payable and accrued liabilities 6,731 6,683 (12,561 ) (1,192 ) Deferred revenue, net (5,270 ) (15,517 ) 22,818 (8 ) Operating lease liabilities (1,826 ) (1,009 ) (4,911 ) (3,684 ) Other liabilities 2,830 (772 ) 7,309 1,260 Net cash provided by operating activities 63,916 35,501 100,592 85,186 Cash Flows from Investing Activities: Purchases of property and equipment (562 ) (379 ) (1,784 ) (795 ) Capitalized internal-use software costs (2,057 ) (2,046 ) (6,468 ) (5,495 ) Business combinations, net of cash acquired — — (9 ) (897 ) Purchase of strategic investments — — (2,990 ) — Net cash used in financing activities (2,619 ) (2,425 ) (11,251 ) (7,187 ) Cash Flows from Financing Activities: Proceeds from stock option exercises 1,224 3,555 9,358 36,139 Proceeds from employee stock purchase plan — — 2,153 1,970 Payments related to tax withholding for vested equity awards (5,850 ) — (14,408 ) — Payments of contingent consideration and holdback associated with acquisitions (433 ) — (1,669 ) (2,410 ) Repurchases of common stock (100,078 ) — (250,146 ) — Net cash (used in) provided by financing activities (105,137 ) 3,555 (254,712 ) 35,699 Effect of foreign currency exchange rate changes on cash and cash equivalents (489 ) 944 (915 ) 1,138 Net (decrease) increase in cash, cash equivalents and restricted cash (44,329 ) 37,575 (166,286 ) 114,836 Cash, cash equivalents and restricted cash - beginning of period 191,352 285,831 313,309 208,570 Cash, cash equivalents and restricted cash - end of period $ 147,023 $ 323,406 $ 147,023 $ 323,406 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 March 31, Nine Months Ended March 31, 2026 2025 2026 2025 GAAP gross profit $ 110,511 $ 96,406 $ 319,480 $ 272,015 Adjusted to exclude the following: Stock-based compensation 2,648 2,619 7,683 7,553 Amortization of intangible assets 1,711 1,509 5,132 4,589 Restructuring and other costs(1) 139 40 213 102 Non-GAAP gross profit $ 115,009 $ 100,574 $ 332,508 $ 284,259 Non-GAAP gross margin 78.8 % 77.9 % 78.2 % 77.0 % Non-GAAP Operating Expenses Three Months Ended March 31, Nine Months Ended March 31, 2026 2025 2026 2025 GAAP research and development $ 44,144 $ 34,089 $ 124,361 $ 99,841 Stock-based compensation (9,864 ) (6,381 ) (26,485 ) (17,805 ) Expenses associated with acquisition-related contingent and deferred liabilities(2) (1,015 ) — (2,695 ) — Restructuring and other costs(1) (3,478 ) (9 ) (3,918 ) (171 ) Non-GAAP research and development $ 29,787 $ 27,699 $ 91,263 $ 81,865 GAAP sales and marketing $ 52,550 $ 42,258 $ 148,027 $ 120,809 Stock-based compensation (9,027 ) (6,267 ) (26,204 ) (19,237 ) Amortization of intangible assets (1,101 ) (1,038 ) (3,303 ) (3,574 ) Expenses associated with acquisition-related contingent and deferred liabilities(2) (1,014 ) — (2,694 ) — Restructuring and other costs(1) (27 ) (88 ) (73 ) (88 ) Non-GAAP sales and marketing $ 41,381 $ 34,865 $ 115,753 $ 97,910 GAAP general and administrative $ 28,063 $ 25,761 $ 82,970 $ 74,507 Stock-based compensation (9,572 ) (7,448 ) (28,723 ) (23,520 ) Amortization of intangible assets (56 ) (162 ) (170 ) (488 ) Expenses associated with acquisition-related contingent and deferred liabilities(2) — — (562 ) 1,004 Transaction costs(3) (63 ) (394 ) (624 ) (1,058 ) Restructuring and other costs(1) (235 ) — (368 ) (236 ) Asset impairments (4) — — (1,351 ) — Non-GAAP general and administrative $ 18,137 $ 17,757 $ 51,172 $ 50,209 Non-GAAP Operating Income Three Months Ended March 31, Nine Months Ended March 31, 2026 2025 2026 2025 GAAP operating loss $ (14,246 ) $ (5,702 ) $ (35,878 ) $ (23,142 ) Adjusted to exclude the following: Stock-based compensation 31,111 22,715 89,095 68,115 Amortization of intangible assets 2,868 2,709 8,605 8,651 Expenses associated with acquisition-related contingent and deferred liabilities(2) 2,029 — 5,951 (1,004 ) Transaction costs(3) 63 394 624 1,058 Restructuring and other costs(1) 3,879 137 4,572 597 Asset impairments(4) — — 1,351 — Non-GAAP operating income $ 25,704 $ 20,253 $ 74,320 $ 54,275 Non-GAAP Net Income Three Months Ended March 31, Nine Months Ended March 31, 2026 2025 2026 2025 GAAP net loss $ (15,495 ) $ (2,952 ) $ (35,782 ) $ (17,689 ) Adjusted to exclude the following: Stock-based compensation 31,111 22,715 89,095 68,115 Amortization of intangible assets 2,868 2,709 8,605 8,651 Expenses associated with acquisition-related contingent and deferred liabilities(2) 2,029 — 5,951 (1,004 ) Transaction costs(3) 63 394 624 1,058 Restructuring and other costs(1) 3,879 137 4,572 597 Foreign currency impact from dissolution of subsidiary — — 799 — Asset impairments (4) — — 1,351 — Income tax effect of non-GAAP adjustments (770 ) (1,320 ) (3,319 ) (3,833 ) Non-GAAP net income $ 23,685 $ 21,683 $ 71,896 $ 55,895 GAAP net loss per share, basic and diluted $ (0.20 ) $ (0.04 ) $ (0.44 ) $ (0.23 ) Non-GAAP net income per share, diluted $ 0.29 $ 0.26 $ 0.87 $ 0.67 Weighted-average shares used to compute GAAP net loss per share, basic and diluted 78,872 79,890 80,613 77,856 Weighted-average shares used to compute non-GAAP net income per share, diluted 80,440 84,933 82,729 83,449 Free Cash Flow Three Months Ended March 31, Nine Months Ended March 31, 2026 2025 2026 2025 Net cash provided by operating activities $ 63,916 $ 35,501 $ 100,592 $ 85,186 Adjusted for the following cash outlay: Purchases of property and equipment (562 ) (379 ) (1,784 ) (795 ) Free cash flow $ 63,354 $ 35,122 $ 98,808 $ 84,391 (1) Consists of employee severance and related benefits and other costs primarily in connection with deferred consideration and contingent consideration as a result of acceleration and waiver of certain service and performance conditions. This also consists of reclassification of outstanding prior year accrual that was previously not included as a non-GAAP adjustment. (2) 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. (3) Consists of costs related to a legal settlement incurred in connection with an acquisition, acquisition-related transaction costs and acquisition termination costs. (4) Consists of impairment costs related to capitalized cloud computing implementation costs from our digital transformation initiative. Source: Intapp, Inc.