Q4 2026 Intapp Inc Earnings Call Transcript
Key Points
- Intapp Inc (INTA) delivered a strong Q4 with cloud ARR growing 29% year-over-year, marking 20 consecutive quarters of over 25% growth since its 2021 IPO.
- The company's Firm AI strategy, powered by Celeste, is gaining traction, with AI bookings doubling sequentially and representing over 20% of net new bookings in Q4.
- Cloud net revenue retention remained strong at 123%, and the company added a record number of cloud migrations (over 30) in Q4, driven by client urgency to adopt Celeste.
- Intapp Inc (INTA) achieved significant financial milestones, including surpassing $100 million in net new ARR for the year and reaching a 25% free cash flow margin, entering its FY29 target range early.
- The company's partner ecosystem is expanding, with Microsoft co-selling on 8 of the top 10 deals and partner-led implementations nearly doubling year-over-year, enhancing deal velocity and market reach.
- License revenue declined 25% year-over-year in Q4, reflecting a faster-than-expected shift to cloud and shorter on-prem contract durations, which could pressure near-term revenue mix.
- Total revenue growth of 13% in Q4 was slower than subscription growth, indicating a drag from declining license and slower professional services growth.
- The company's on-premise RPO is a headwind to overall RPO growth, which grew only 16% year-over-year, potentially signaling a shrinking legacy base.
- Intapp Inc (INTA) faces intense competition from horizontal AI tools and practice-specific AI startups, which could commoditize certain offerings and pressure pricing.
- The transition to Celeste and Firm AI requires significant investment in go-to-market and product development, as reflected in higher operating expenses, which could impact near-term profitability if adoption slows.
Hello, everyone. Thank you for joining us, and welcome to the Intapp fiscal fourth-quarter 2026 webcast. (Operator Instructions)
I will now hand the conference over to David Trone, Senior Vice President, Investor Relations. Please go ahead.
Thank you. Welcome to Intapp's fiscal fourth quarter and year-end 2026 financial results. On the call with me today are John Hall, Chairman and CEO of Intapp; and David Morton, Chief Financial Officer.
During the course of this conference call, we may make forward-looking statements regarding trends, strategies, and the anticipated performance of our business, including guidance provided for our fiscal first quarter and full year 2027. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date, and are subject to various risks and uncertainties, including those described in our SEC filings and other publicly available documents that are difficult to predict
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