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01/10 20:32
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlighted strong SaaS revenue growth, improved margins, and positive free cash flow. The Q&A session revealed optimism about partnerships and AI adoption, despite some uncertainty in guidance specifics. The market cap suggests a moderate reaction, leading to a positive stock price movement prediction.
Cloud ARR $383 million, grew 29% year-over-year. Reasons for growth include strong adoption of cloud solutions and migration of clients to the cloud.
SaaS Revenue (Q4) $90 million, up 27% year-over-year. Growth driven by new client acquisitions, contract expansions, and migration of on-premise products to the cloud.
Total Revenue (Q4) $135 million, up 18% year-over-year. Growth primarily driven by sales of cloud solutions.
Clients with ARR > $1 million 109 clients, a year-over-year increase of 49%. Growth attributed to enterprise sales strategy and expansion within large accounts.
Non-GAAP Gross Margin (Q4) 78%, up from 76.1% a year ago. Improvement due to progress in professional services and reduced contribution from lower-margin businesses.
Non-GAAP Operating Income (Q4) $21.3 million, up from $13.5 million in Q4 of last year. Growth driven by revenue growth and improved operating leverage.
Free Cash Flow (Q4) $37.5 million, 28% of total revenue. Reflects strong operational efficiency.
Cloud Net Revenue Retention Rate 120%, demonstrating strong retention and steady expansion among existing cloud clients.
Total Revenue (FY 2025) $504.1 million, up 17% year-over-year. Growth driven by cloud solutions.
SaaS Revenue (FY 2025) $331.9 million, up 28% year-over-year. Growth driven by new client acquisitions, contract expansions, and cloud migrations.
Non-GAAP Gross Margin (FY 2025) 77.3%, up from 74.2% in the prior year. Improvement due to better mix and operational efficiency.
Non-GAAP Operating Income (FY 2025) $75.6 million, nearly double the prior year's $38.7 million. Growth driven by revenue growth and improved operating leverage.
Free Cash Flow (FY 2025) $121.9 million, 24% of total revenue. Reflects meaningful progress on operational efficiency.
AI Capabilities: Released additional AI capabilities tailored for highly regulated markets, including Intapp DealCloud Activator, Intapp Assist for DealCloud, and Intapp Walls for AI.
New Product Launches: Launched next-gen Intapp Intake with AI-powered persona-driven summaries and data integration.
Strategic Acquisitions: Acquired TermSheet to expand capabilities in real estate, winning new clients like Kronos Real Estate Group and True Homes.
International Expansion: Expanded international footprint with new clients in Australia, Spain, and Portugal.
Partnerships: Expanded partnerships with Microsoft, Snowflake, and MSCI, with Microsoft contributing to nearly half of the largest Q4 wins.
Cloud Migration: Migrated 80% of clients to the cloud, with cloud ARR growing 29% year-over-year to $383 million.
Enterprise Sales: Created an enterprise sales group focusing on large accounts, achieving 49% growth in $1 million+ ARR accounts.
AI Strategy: Focused on Applied AI to reduce costs, enhance compliance, and provide unique insights for clients in regulated industries.
Partner Ecosystem: Strengthened partner ecosystem, with partners involved in 17 of the 20 largest Q4 deals.
Regulatory Compliance: The company faces challenges in ensuring compliance with complex and evolving regulations in highly regulated industries, such as AML regulations in Australia and outside counsel guidelines for legal professionals.
Cloud Migration: While the company has made significant progress in migrating clients to the cloud, the ongoing transition from on-premise solutions to cloud-based offerings presents operational and client adoption challenges.
Economic Uncertainty: Economic uncertainties could impact client budgets and spending, potentially affecting the adoption of the company's solutions.
Competitive Pressures: The company operates in competitive markets, and there is a need to continuously innovate and differentiate its offerings to maintain its market position.
Partner Ecosystem Dependence: The company relies heavily on its partner ecosystem, including Microsoft and Snowflake, for scaling deals and accelerating platform adoption, which could pose risks if these partnerships weaken or fail to deliver expected results.
M&A Integration: The integration of acquired companies, such as TermSheet, into the existing product portfolio and operations could present challenges and risks.
AI Adoption Risks: While AI capabilities are a growth driver, there are risks associated with client adoption, data privacy, and compliance with industry-specific regulations.
Fiscal Q1 2026 SaaS Revenue: Expected to be between $95.7 million and $96.7 million.
Fiscal Q1 2026 Total Revenue: Expected to range from $134.8 million to $135.8 million.
Fiscal Q1 2026 Non-GAAP Operating Income: Projected to be between $16 million and $17 million.
Fiscal Q1 2026 Non-GAAP EPS: Expected to range from $0.18 to $0.20, with a diluted share count of approximately 85 million.
Fiscal Year 2026 SaaS Revenue: Projected to be between $411.4 million and $415.4 million.
Fiscal Year 2026 Total Revenue: Expected to range from $566.7 million to $570.7 million.
Fiscal Year 2026 Non-GAAP Operating Income: Anticipated to be between $96 million and $100 million.
Fiscal Year 2026 Non-GAAP EPS: Expected to range from $1.09 to $1.13, with a diluted share count of approximately 87 million.
Cloud Adoption and AI Growth: Anticipates continued broad-based adoption of AI offerings and cloud solutions, supported by a growing client base and a healthy pipeline.
Professional Services Revenue Mix: Expected to remain consistent with fiscal 2025, accounting for approximately 10% of total revenue.
The selected topic was not discussed during the call.
The earnings call indicates strong SaaS and total revenue growth, optimistic guidance, and a strategic partnership with Microsoft. Despite some volatility in billings and conservative full-year guidance, the focus on AI, cloud adoption, and shareholder returns suggests a positive outlook. With a market cap of around $2.65 billion, the stock is likely to experience a moderate positive reaction, falling within the 2% to 8% range.
The earnings call highlighted strong SaaS revenue growth, improved margins, and positive free cash flow. The Q&A session revealed optimism about partnerships and AI adoption, despite some uncertainty in guidance specifics. The market cap suggests a moderate reaction, leading to a positive stock price movement prediction.
The earnings call summary shows strong financial performance with significant growth in SaaS and cloud ARR, improved margins, and strong non-GAAP EPS. The optimistic guidance, particularly around cloud and AI adoption, suggests continued growth. Despite some regulatory and competitive risks, the Q&A reveals strong demand and enthusiasm for new products. The lack of a share repurchase program is a minor negative, but overall, the company's robust financial health and strategic initiatives, coupled with a market cap of $2.65 billion, indicate a likely positive stock price movement of 2% to 8%.
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