8-K: Intapp Reports Strong Q2 FY2026 Results, SaaS Revenue Up 28%

Intapp, Inc. announced robust financial results for its fiscal second quarter ended December 31, 2025, driven by a 28% year-over-year increase in SaaS revenue and strong Cloud ARR growth.

Summary

• SaaS revenue reached $102.5 million, marking a 28% year-over-year increase compared to the second quarter of fiscal year 2025.
• Total revenue for the quarter was $140.2 million, a 16% year-over-year increase.
• Cloud Annual Recurring Revenue (ARR) stood at $433.6 million as of December 31, 2025, up 31% year-over-year.
• Total ARR was $535.0 million as of December 31, 2025, representing a 22% year-over-year increase.
• Cloud ARR constituted 81% of total ARR as of December 31, 2025, an increase from 76% in the prior year.
• The trailing twelve months cloud net revenue retention rate as of December 31, 2025, was 124%.
• GAAP operating loss improved to $(7.2) million, compared to $(10.2) million in the second quarter of fiscal year 2025.
• Non-GAAP operating income increased to $27.7 million, up from $18.9 million in the prior year period.
• GAAP net loss was $(5.9) million, an improvement from $(10.2) million in the second quarter of fiscal year 2025.
• Non-GAAP net income grew to $27.6 million, compared to $17.4 million in the second quarter of fiscal year 2025.
• GAAP net loss per share improved to $(0.07), from $(0.13) in the second quarter of fiscal year 2025.
• Non-GAAP diluted net income per share was $0.33, up from $0.21 in the prior year period.
• Cash and cash equivalents were $191.2 million as of December 31, 2025, down from $313.1 million as of June 30, 2025.
• Net cash provided by operating activities for the six months ended December 31, 2025, was $36.7 million, compared to $49.7 million for the same period in 2024.
• The company repurchased 3.4 million shares of common stock for an aggregate of $150.1 million during the six months ended December 31, 2025.
• Intapp served over 2,750 clients, with 834 clients having contracts greater than $100,000 of ARR as of December 31, 2025.
• Intapp DealCloud was recognized as 'Deal Origination Solution of the Year: Credit' at the 2025 Private Equity Wire U.S. Awards.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a very positive report, highlighting strong growth in key SaaS and Cloud metrics, improved profitability on a non-GAAP basis, and successful client expansion, despite a decrease in cash reserves primarily due to share repurchases.

Positives

• SaaS revenue grew significantly by 28% year-over-year to $102.5 million, demonstrating strong product demand.
• Cloud Annual Recurring Revenue (ARR) increased by 31% year-over-year to $433.6 million, indicating robust cloud adoption and recurring revenue growth.
• The cloud net revenue retention rate of 124% highlights successful upsell and cross-sell activities and strong customer satisfaction.
• GAAP operating loss and net loss both improved year-over-year, signaling progress towards overall profitability.
• Non-GAAP operating income increased by 46.6% to $27.7 million, and non-GAAP net income increased by 58.6% to $27.6 million, reflecting improved operational efficiency.
• Expansion of the client base with new additions like accounting firm Ostberg Sinclair and law firm Buchanan Ingersoll & Rooney.
• Industry recognition for Intapp DealCloud underscores the strength and innovation of its AI-powered solutions.

Negatives

• Cash and cash equivalents decreased to $191.2 million from $313.1 million over the six-month period, partly due to significant share repurchases.
• Net cash provided by operating activities for the six months ended December 31, 2025, decreased to $36.7 million from $49.7 million in the prior year period.
• The company continues to report a GAAP operating loss and net loss, despite improvements.

Risks

• Ability to continue growth at or near historical rates.
• Future financial performance and ability to be profitable.
• The effect of global events on the U.S. and global economies, business, employees, results of operations, financial condition, demand for products, sales and implementation cycles, and the health of clients and partners' businesses.
• Ability to prevent and respond to data breaches, unauthorized access to client data, or other disruptions of solutions.
• 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.
• The effect on 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 the sales cycle.
• Ability to attract and retain clients and talent.
• Ability to compete in highly competitive markets, including AI products.
• Ability to manage the implementation of AI into products and services and to comply with U.S. and global laws and regulations regarding AI.
• Ability to manage additional complexity, burdens, and volatility in connection with international sales and operations.
• The successful assimilation or integration of the businesses, technologies, services, products, personnel, or operations of acquired companies.
• Ability to incur indebtedness in the future and the effect of conditions in credit markets.
• The sufficiency of cash and cash equivalents to meet liquidity needs.
• Ability to maintain, protect, and enhance intellectual property rights.

Future Outlook

For the third quarter of fiscal year 2026, Intapp anticipates SaaS revenue between $105.0 million and $106.0 million, total revenue between $143.8 million and $144.8 million, non-GAAP operating income between $23.1 million and $24.1 million, and non-GAAP diluted net income per share between $0.27 and $0.29. For the full fiscal year 2026, the company expects SaaS revenue in the range of $415.0 million to $419.0 million, total revenue between $570.3 million and $574.3 million, non-GAAP operating income between $99.9 million and $103.9 million, and non-GAAP diluted net income per share between $1.20 and $1.24.

Management Comments

• John Hall, CEO, stated: "I am pleased to report our strong second quarter which was supported by the addition of new clients and the expansion of existing client accounts."
• John Hall, CEO, also commented: "Our results reflect our proficiency in serving enterprise clients, our growing partner ecosystem, and demand for our new AI-driven solutions in the highly-regulated industries we serve."

Industry Context

StockSavvy.ai notes that Intapp's focus on AI-powered solutions for advisory, capital markets, and legal firms positions it well within the growing demand for specialized vertical SaaS and AI integration in professional services. The strong cloud ARR growth and high net revenue retention rate suggest effective penetration and expansion within these highly regulated, high-value markets, contrasting with broader tech sector volatility and highlighting the resilience of niche enterprise software providers.

Comparison to Industry Standards

• Intapp's Cloud net revenue retention rate of 124% is strong, indicating effective upsell/cross-sell and customer satisfaction, comparable to top-tier SaaS companies like Salesforce (often 120%+) or Workday (historically high 100s).
• SaaS revenue growth of 28% year-over-year is robust for a company of Intapp's scale, outperforming many mature enterprise software providers and aligning with growth rates seen in specialized vertical SaaS leaders.
• The shift to 81% Cloud ARR as a percentage of total ARR demonstrates successful transition to a more scalable and predictable revenue model, a key indicator of health for modern software companies, similar to the strategic shifts seen in Microsoft Azure or Adobe Creative Cloud.

Stakeholder Impact

• Shareholders: Positive impact due to strong financial performance, increased non-GAAP profitability, and share repurchases, which can boost shareholder value.
• Customers: Continued expansion of AI-powered solutions and client base suggests enhanced product offerings and service, benefiting existing and new clients.
• Employees: Continued growth and demand for AI-driven solutions may indicate job stability and potential for growth within the company.

Next Steps

• Host a conference call for analysts and investors on Tuesday, February 3, 2026, beginning at 2:00 p.m. PT (5:00 p.m. ET).
• A replay of the conference call will be available through the Intapp website for 90 days.

Key Dates

Recommendation

Intapp's robust SaaS and Cloud ARR growth, coupled with improving non-GAAP profitability and a high net revenue retention rate, indicates strong business momentum and market demand for its specialized AI-powered solutions. The positive outlook for Q3 and full fiscal year 2026, along with strategic share repurchases, suggests a compelling investment opportunity for long-term growth in a critical sector.

Keywords

Intapp, SaaS, Cloud ARR, Financial Results, Q2 2026, AI-powered solutions, Professional Services, Enterprise Software, Legal Tech, Capital Markets Tech, Advisory Firms, Net Revenue Retention