Intapp Reports 17% Revenue Growth to $121.2 Million, Despite Net Loss

Intapp, Inc. reported a total revenue of $121.2 million for the three months ended December 31, 2024, marking a 17% increase from $103.9 million in the same period last year. The company's revenue growth was primarily driven by a 27% increase in Software as a Service (SaaS) revenue, which reached $80.0 million, up from $63.1 million. For the six-month period, total revenues also rose by 17% to $240.0 million, compared to $205.5 million in the prior year. Despite the revenue growth, Intapp recorded a net loss of $10.2 million for the quarter, slightly higher than the $9.2 million loss reported in the same quarter of the previous year.

The company experienced notable changes in its financial performance compared to the previous fiscal period. SaaS revenues accounted for 66% of total revenues in the latest quarter, up from 61% a year earlier. The increase in SaaS revenue was attributed to new client acquisitions and expansion within existing accounts through cross-selling and upselling strategies. However, professional services revenue saw a slight decline of 2% for the six-month period, reflecting a shift in the delivery of services to third-party partners.

In terms of strategic developments, Intapp completed the acquisition of Transform Data International B.V. in May 2024, which contributed to its growth strategy. The company continues to invest in research and development, with expenses rising by 19% to $33.3 million for the latest quarter, as it aims to enhance its product offerings and maintain a competitive edge in the market. Additionally, Intapp's annual recurring revenue (ARR) increased by 20% year-over-year, reaching $437.1 million, with cloud ARR growing by 29% to $331.1 million.

Operationally, Intapp reported a customer base of over 2,650 clients as of December 31, 2024, with 728 clients having contracts exceeding $100,000 in ARR, up from 649 clients a year prior. The company also noted a trailing twelve-month net revenue retention rate of 113%, indicating strong customer loyalty and expansion within existing accounts. The total cash and cash equivalents as of the end of the reporting period stood at $285.6 million, providing a solid liquidity position to support ongoing operations and growth initiatives.

Looking ahead, Intapp anticipates continued growth driven by its cloud solutions and ongoing investments in innovation. The company plans to maintain its focus on expanding its client base and enhancing its product offerings to meet the evolving needs of professional and financial services firms. However, management cautioned that future operating losses may persist as the company continues to invest in its growth strategy.