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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.)

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