Intapp Q1 profit beats estimates on subscription growth

By Reuters News


Overview

  • Governed AI platform's fiscal Q1 revenue rose 16% yr/yr, subscription revenue up 29%

  • Adjusted EPS, net income, and operating profit for Q1 beat analyst expectations

  • Company repurchased $25 mln in shares during the quarter


Outlook

  • Intapp sees Q2 subscription revenue of $129.1 mln to $130.1 mln

  • Company expects Q2 total revenue of $158.8 mln to $159.8 mln

  • Intapp forecasts FY2027 non-GAAP diluted EPS of $1.64 to $1.68


Result Drivers

  • SUBSCRIPTION GROWTH - Co said 29% yr/yr increase in subscription revenue was driven by demand for cloud-based solutions among professional firms

  • CLOUD ADOPTION - Cloud ARR rose 28% yr/yr as more clients moved to cloud offerings, with cloud ARR now 85% of total ARR

  • CLIENT EXPANSION - Co cited upselling and cross-selling to existing clients, with a trailing twelve months’ cloud net revenue retention rate of 123%


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Adjusted EPS

Beat

$0.44

$0.40 (9 Analysts)

Q1 Loss Per Share

$0.02

Q1 Adjusted Net Income

Beat

$34.40 mln

$31.58 mln (9 Analysts)

Q1 Net Loss

$1.30 mln

Q1 Adjusted Operating Profit

Beat

$35.42 mln

$33.90 mln (9 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy."

  • Wall Street's median 12-month price target for Intapp, Inc. is $41.50, about 12% below its October 26 closing price of $47.15

  • The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 16 three months ago


Reuters Recommended Reads

  • Oct 26 - Agilysys beats Q2 profit estimates on subscription revenue growth; hikes forecast

  • Oct 27 - Commvault Systems Q2 subscription revenue rises on SaaS growth

  • Oct 26 - Cadence tops Q3 profit estimates, hikes forecast on AI-driven design strength


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk