Summary
Intapp closed fiscal 2026 with a fourth quarter that carried solid top-line momentum but little progress on profitability. Total revenue for the quarter ended June 30, 2026 was $152.5 million, up 13.0% from the prior-year quarter. Gross profit reached $118.4 million, up 17.2%, and gross margin improved 2.8 percentage points to 77.6%. The GAAP operating loss was $4.2 million, flat against the prior-year quarter. The net loss widened to $5.5 million, and GAAP net loss per diluted share was $0.07.
Non-GAAP results look far better than the GAAP lines. Non-GAAP operating income was $34.3 million, compared with $21.3 million in the prior-year quarter, and non-GAAP net income was $31.7 million versus $23.0 million. Non-GAAP diluted net income per share was $0.41, up from $0.27. The gap comes mostly from stock-based compensation and other items the company excludes. Cash generation held up. Operating cash flow was $46.3 million for the quarter, up 20.6%, while capital expenditures fell to $0.36 million, down 59.5%.
For the full fiscal year, revenue was $577.8 million, up 14.6%. Gross profit was $437.9 million, up 17.4%, and gross margin rose 1.8 percentage points to 75.8%. The full-year GAAP operating loss widened to $40.1 million, and the net loss widened to $41.3 million. GAAP net loss per diluted share widened to $0.52. Operating cash flow for the year was $146.8 million, up 18.9%, and capital expenditures were $2.14 million, up 27.9%. Free cash flow, a non-GAAP measure, was $144.7 million. License revenue fell 14% for the year as clients migrated to cloud subscriptions, and professional services revenue was roughly flat. Research and development expense rose 21% and sales and marketing expense rose 22%.
Recurring revenue metrics did the heavy lifting. Cloud ARR was $495.7 million as of June 30, 2026, up 29% year over year, and total ARR was $590.5 million, up 22%. Cloud ARR made up 84% of total ARR, up from 79%. Trailing twelve-month cloud net revenue retention was 123%. Intapp served more than 1,400 clients with contracts greater than $50,000 of ARR, including 897 clients above $100,000 of ARR, and 142 clients with more than $1.0 million of ARR, up from 109 a year earlier. Deferred revenue was $317.7 million, up 22.7%, and remaining performance obligations were $833.0 million, up 15.7%.
Guidance for the first quarter of fiscal 2027 calls for total revenue of $159.3 million to $160.3 million and non-GAAP operating income of $33.4 million to $34.4 million. For the full fiscal year 2027, management guided to total revenue of $656.5 million to $660.5 million and non-GAAP diluted net income per share of $1.58 to $1.62. Those targets exclude estimated stock-based compensation of $35.0 million for the first quarter and $138.4 million for the full year, along with amortization of intangible assets of $1.9 million and $7.4 million for the same periods.
Cash and cash equivalents were $162.8 million as of June 30, 2026, down from $313.1 million a year earlier, after the company repurchased 8.4 million shares for $275.2 million during the fiscal year. In July 2026, Intapp replaced its JPMorgan credit agreement with a $150 million senior secured revolving facility from UBS. The filing's risk list is long: competition in AI products, the pace at which professional firms accept AI-performed work, data breaches and unauthorized access to client data, long and variable sales cycles, tariffs and other trade barriers, and volatility in the financial services industry. Management also noted that operating losses could continue as it keeps investing in growth.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q4 FY2026 | Q3 FY2026 | QoQ | Q4 FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $152.5M | $146.0M | +4.4% | $135.0M | +13.0% |
| Gross profit | $118.4M | $110.5M | +7.1% | $101.0M | +17.2% |
| Gross margin | 77.6% | 75.7% | +1.9 pp | 74.8% | +2.8 pp |
| Research & development | $43.0M | $44.1M | -2.7% | $37.9M | +13.3% |
| Sales & marketing | $51.4M | $52.5M | -2.3% | $43.0M | +19.3% |
| General & administrative | $28.3M | $28.1M | +0.8% | $24.2M | +16.8% |
| Total operating expenses | $122.6M | $124.8M | -1.7% | $105.2M | +16.6% |
| Operating income (loss) | -$4.2M | -$14.2M | +70.4% | -$4.2M | -0.1% |
| Operating margin | -2.8% | -9.8% | +7.0 pp | -3.1% | +0.4 pp |
| Net income (loss) | -$5.5M | -$15.5M | +64.3% | -$528.0K | -947.0% |
| Net margin | -3.6% | -10.6% | +7.0 pp | -0.4% | -3.2 pp |
| Diluted EPS | -$0.07 | -$0.20 | +$0.13 | -$0.01 | -$0.06 |
Risks
Future growth depends on market adoption of Intapp's AI platform, including Intapp Celeste, but competitors may incorporate AI more quickly and clients may build their own AI agents. The MD&A states that if clients do not see return on investment relative to other software alternatives, net revenue retention could suffer.
The EU AI Act is gradually coming into effect and the EU Data Act took effect in September 2025, adding risk-based AI governance and data access requirements. GDPR fines can reach four percent of worldwide revenues or 20 million euros, whichever is greater.
Most revenues come from clients in accounting, consulting, investment banking, legal, private capital and real assets industries, which are highly regulated and exposed to economic downturns, financial services stress, consolidation and reduced IT spending. These conditions could lengthen sales cycles or cause clients to reduce or renegotiate spending.
The company processes large amounts of confidential client data and relies on third-party cloud providers and sub-processors. AI proliferation may heighten cyberattacks, and companies serving legal and investment banking clients may face heightened cybersecurity risks.
In FY2026 net loss widened to $41.3 million from $18.2 million in FY2025, and operating loss widened to $40.1 million from $27.4 million. The company expects to continue incurring losses near term as it invests in product development, sales and marketing and acquisitions.
The typical sales cycle is lengthy and unpredictable, often requiring pre-purchase evaluation by many employees and extensive due diligence for larger enterprise clients. Sales cycles could be disrupted by macroeconomic factors or volatility in the company's target industries.
The business depends on clients renewing and expanding subscriptions, and clients can cancel before renewal or renew on shorter terms. Cloud NRR was 123% as of June 30, 2026, but renewal, upgrade and expansion rates may fluctuate or decline.
Subscription revenues are generally recognized ratably over one to three year contract terms, so a significant downturn in new contracts may not be reflected immediately in operating results. A non-renewal late in a quarter has minimal impact on that quarter but reduces future subscription revenues.
The company may consider consumption-based and subscription-based flexible pricing for AI solutions, including Intapp Celeste. These pricing strategies may not be widely accepted by new or existing clients and could reduce revenues, gross margin or profitability.
The company expects to continue acquisitions and strategic investments, but may fail to integrate businesses, retain key personnel or realize anticipated synergies. Rapid AI evolution increases the complexity of evaluating a target's technology and competitive position, and impairment charges are possible.
Intellectual property ownership, licensing and privacy rights surrounding generative and agentic AI are not fully addressed by courts or laws. Use of third-party AI technologies may expose the company to copyright infringement or other intellectual property claims.
Anderson Investments Pte Ltd. and affiliates beneficially own approximately 22% of common stock as of August 6, 2026, giving them significant influence over stockholder votes and corporate decisions. Sales of substantial amounts by Anderson could reduce the market price of common stock.
On July 7, 2026, the company entered a five-year $150 million senior secured revolving credit facility with UBS and terminated the JPMorgan facility. The agreement contains restrictive covenants and a first-priority lien on substantially all assets, though no balance was outstanding as of July 7, 2026.
The Board authorized a $200.0 million repurchase program on January 29, 2026, and the company repurchased $125.0 million in FY2026, leaving $75.0 million available. There is no guarantee the program will enhance long-term stockholder value, and a 1% excise tax may increase repurchase costs.
SaaS KPIs
All quarters →Cloud ARR
Total ARR
Cloud ARR as % of total ARR
Clients > $100K ARR
Non-GAAP gross margin
Non-GAAP operating income
SaaS revenue
Clients > $1M ARR
Remaining Performance Obligations (RPO)
Summary, forecast, risks and KPIs are extracted from Intapp, Inc.'s SEC filings for Q4 FY2026 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Oct 1, 2026.