Intapp Q1 profit beats estimates on subscription growth
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
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(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.)