Intapp Subscription Revenue Rises 29% to $125.5 Million in Fiscal Q1

Intapp reported subscription revenue of $125.5 million for its fiscal first quarter ended September 30, 2026, a 29% increase from a year earlier, in financial results the company announced on October 27, 2026. Total revenue was $161.3 million, a 16% year-over-year increase. The Palo Alto, California-based company, which describes itself as a governed AI platform for professional firms in highly regulated industries, also provided its outlook for the second quarter and full fiscal year 2027.

Cloud annual recurring revenue was $515.3 million as of September 30, 2026, up 28% from September 30, 2025, and represented 85% of total ARR, compared with 80% as of September 30, 2025. Total ARR was $607.1 million as of September 30, 2026, a 20% year-over-year increase. Intapp defines total ARR as the annualized recurring value of all active SaaS and on-premise license contracts at the end of a reporting period, with Cloud ARR representing the annualized recurring value of active SaaS contracts. The company’s trailing twelve months’ cloud net revenue retention rate was 123% as of September 30, 2026, a metric it calculates by dividing current-period Cloud ARR from a client cohort by that cohort’s Cloud ARR from twelve months prior.

As of quarter end, Intapp served more than 1,400 clients with contracts greater than $50,000 of ARR, including 908 clients with contracts greater than $100,000 of ARR.

“Professional firms need AI that’s governed, grounded in their own data, and built to run the business of the firm. That’s Firm AI, a category Intapp created and defined,” said John Hall, Intapp’s chairman and CEO. Hall said Intapp Celeste is now generally available and firms are moving to the cloud, adding that the company is confident in its direction.

Profitability and Cash Flow

Intapp reported a GAAP operating loss of $1.1 million for the quarter, compared with a GAAP operating loss of $14.5 million in the first quarter of fiscal 2026. Non-GAAP operating income was $35.4 million, compared with $20.9 million a year earlier. The GAAP net loss was $1.3 million, or $0.02 per share, compared with a GAAP net loss of $14.4 million, or $0.18 per share, in the prior-year quarter. Non-GAAP net income was $34.4 million, or $0.44 per diluted share, compared with $20.7 million, or $0.24 per diluted share, a year earlier.

Gross profit was $125.6 million, representing a gross margin of 77.9%, compared with 74.7% a year earlier. Non-GAAP gross margin was 80.4%, compared with 77.7% in the prior-year quarter.

Total operating expenses were $126.668 million, compared with $118.286 million a year earlier. Research and development expense was $40.823 million, versus $40.934 million; sales and marketing expense was $57.783 million, versus $48.786 million; and general and administrative expense was $28.062 million, versus $28.566 million.

The company’s non-GAAP measures exclude stock-based compensation, which was $33.08 million in the quarter, as well as amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from the dissolution of a subsidiary, asset impairments, and the income tax effect of non-GAAP adjustments.

Net cash provided by operating activities was $28.4 million for the quarter, compared with $13.8 million for the three months ended September 30, 2025. Free cash flow, which Intapp defines as net cash provided by operating activities less cash paid for purchases of property and equipment, was $28.089 million, compared with $13.237 million a year earlier. During the quarter, Intapp repurchased 0.6 million shares of its common stock for an aggregate $25.0 million; its cash flow statement shows $50.022 million of share repurchases in the prior-year period.

Cash and cash equivalents were $147.7 million as of September 30, 2026, compared with $162.8 million as of June 30, 2026. Total assets were $687.03 million as of September 30, 2026, compared with $753.658 million as of June 30, 2026, and current deferred revenue, net, was $288.134 million, compared with $315.113 million.

During the quarter, Intapp made Intapp Celeste generally available and introduced Compliance with Celeste and Time with Celeste, which the company described as embedding agentic AI into professional firms’ business acceptance, risk management, and revenue workflows. The company announced strategic collaborations with OpenAI, Moody’s (MCO ), and Legora, and launched the Intapp Profitability Network, a certified partner ecosystem the company said is designed to help law firms improve alignment across pricing, matter management, billing, and collections.

New and expanded accounts named in the release include law firms Baker Donelson, Bryan Cave Leighton Paisner, Practus, Shoosmiths, and Troutman Pepper Locke; accounting and consulting firm Forvis Mazars; BDO USA’s investment banking arm, BDO Capital Advisors; and legal services provider Epiq.

Fiscal 2027 Outlook

For the second quarter of fiscal 2027, Intapp guided to subscription revenue of $129.1 million to $130.1 million and total revenue of $158.8 million to $159.8 million. The company expects non-GAAP operating income of $31.8 million to $32.8 million and non-GAAP diluted net income per share of $0.37 to $0.39.

For the full fiscal year 2027, the company projected subscription revenue of $530.5 million to $534.5 million, total revenue of $658.2 million to $662.2 million, non-GAAP operating income of $136.8 million to $140.8 million, and non-GAAP diluted net income per share of $1.64 to $1.68.

The non-GAAP guidance excludes estimated stock-based compensation of $36.6 million for the second quarter and $138.1 million for the fiscal year, plus amortization of intangible assets of $1.9 million for the quarter and $7.4 million for the year. Intapp said it did not include a quantitative reconciliation of its non-GAAP guidance to the most directly comparable GAAP measures, beyond stock-based compensation and amortization, because certain reconciling items could be highly variable and cannot be reasonably predicted without unreasonable effort; the company noted those unavailable items could significantly impact its GAAP operating results.

Effective July 1, 2026, Intapp renamed “SaaS revenue” as “subscription revenue” on its unaudited condensed consolidated statements of operations. The company said there was no change to its revenue recognition policy and that the related reclassifications did not affect total revenues, operating income, or net income.

Intapp said it would host a conference call for analysts and investors on October 27, 2026, beginning at 2:00 p.m. Pacific time (5:00 p.m. Eastern time), with a replay available through the company’s website for 90 days.