Intapp (INTA, Financial) has gained significant attention since mid-August after reporting strong Q4 earnings. This momentum continued with an impressive Q1 beat-and-raise in early November. Intapp provides subscription-based cloud software tailored for the professional and financial services sectors.
- Clients include large firms in legal, accounting, consulting, investment banking, private capital, and real assets. These sectors are typically underserved by traditional CRM/ERP systems, which cater more to manufacturing models.
- Intapp targets a resilient market, as clients such as lawyers and accountants maintain stable incomes regardless of the business cycle. These sectors have lagged in digital transformation due to a lack of purpose-built solutions.
- The company has consistently grown and is now reaching a scale to serve global institutional firms. International revenue is expanding, comprising 34% of SepQ revenue, up from 31% the previous year.
- In SepQ, revenue increased 17% year-over-year to $118.8 million, driven by cloud platform sales. SaaS revenue rose 30% year-over-year to $77 million, fueled by new client acquisitions, contract expansions, and cloud migrations. Approximately 92% of clients have adopted at least one cloud module. Cloud ARR grew 27% year-over-year to $309.1 million, making up 74% of total ARR compared to 69% a year earlier.
Intapp is gaining investor interest due to its niche market focus, which remains in the early stages of cloud migration. Its client base is financially stable even during economic downturns. Additionally, Intapp is enhancing its AI capabilities and growing its international presence.
