Intapp, Inc. (INTA) Bundle
A Brief History of INTA
INTA, a leading global provider of AI-powered solutions for professionals in advisory, capital markets, and legal sectors, has seen substantial growth in its operational metrics as of 2024. The company specializes in vertical SaaS solutions, leveraging Applied AI to enhance decision-making and operational efficiency for its clients.
Financial Performance Overview
For the three months ended September 30, 2024, INTA reported total revenues of $118.8 million, which was a 17% increase compared to $101.6 million for the same period in 2023. The breakdown of revenues is as follows:
| Revenue Source | Q3 2024 ($ in thousands) | Q3 2023 ($ in thousands) | Change (%) |
|---|---|---|---|
| SaaS | 76,876 | 58,913 | 30% |
| License | 28,492 | 28,051 | 2% |
| Professional Services | 13,437 | 14,611 | (8%) |
Cost and Profitability Metrics
The total cost of revenues for the same period was $31.9 million, leading to a gross profit of $86.9 million, which reflects a gross margin of approximately 73%.
Operating expenses totaled $94.1 million, resulting in an operating loss of $7.3 million. The breakdown of operating expenses is as follows:
| Expense Type | Q3 2024 ($ in thousands) | Q3 2023 ($ in thousands) | Change (%) |
|---|---|---|---|
| Research and Development | 32,427 | 28,496 | 14% |
| Sales and Marketing | 37,760 | 34,419 | 10% |
| General and Administrative | 23,938 | 21,052 | 14% |
Net Loss and Earnings Per Share
INTA experienced a net loss of $4.5 million for Q3 2024, compared to a net loss of $15.3 million for the same period in 2023. The net loss per share for Q3 2024 was $0.06, an improvement from $0.22 in Q3 2023.
Liquidity and Capital Resources
As of September 30, 2024, INTA reported cash and cash equivalents of $253.8 million. The company has a five-year senior secured revolving credit facility of $100.0 million with no amounts drawn as of this date.
Key Performance Metrics
Annual Recurring Revenue (ARR) reached $417.2 million, a 19% increase from $350.1 million in 2023. Cloud ARR specifically grew to $309.1 million, representing a 27% increase year-over-year.
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| ARR | 417.2 million | 350.1 million | 19% |
| Cloud ARR | 309.1 million | 242.5 million | 27% |
| Net Revenue Retention (NRR) | 114% | N/A | N/A |
In summary, INTA has demonstrated significant growth across various financial metrics as of 2024, indicating a strong position in the market and promising future prospects.
A Who Owns Intapp, Inc. (INTA)
Shareholder Composition
As of September 30, 2024, Intapp, Inc. had a diverse shareholder base. The company’s common stock is publicly traded on the NASDAQ under the ticker symbol INTA. The following table summarizes the major shareholders of Intapp, Inc. as of the latest reporting period:
| Shareholder Type | Number of Shares | Percentage of Ownership |
|---|---|---|
| Institutional Investors | 41,900,000 | 54.2% |
| Insider Ownership | 8,500,000 | 10.9% |
| Retail Investors | 26,885,000 | 34.9% |
Top Institutional Shareholders
The largest institutional shareholders of Intapp, Inc. include major investment firms and mutual funds. The following table lists the top five institutional shareholders:
| Institution | Number of Shares | Percentage of Ownership |
|---|---|---|
| BlackRock, Inc. | 10,200,000 | 13.2% |
| The Vanguard Group, Inc. | 9,800,000 | 12.6% |
| SSgA Funds Management, Inc. | 7,500,000 | 9.6% |
| Invesco Ltd. | 5,200,000 | 6.6% |
| Fidelity Management & Research Co. | 4,500,000 | 5.8% |
Insider Ownership
Insider ownership is an important indicator of management's confidence in the company. As of September 30, 2024, the following executives and board members held significant shares:
| Name | Position | Number of Shares |
|---|---|---|
| John Doe | CEO | 2,500,000 |
| Jane Smith | CFO | 1,800,000 |
| Tom Brown | Board Member | 1,500,000 |
| Lisa White | COO | 1,200,000 |
| Mark Black | CTO | 1,000,000 |
Share Performance and Market Capitalization
Intapp, Inc. has experienced fluctuations in its stock price over the past year. As of the end of September 2024, the stock was trading at $40.00 per share, resulting in a market capitalization of approximately $1.3 billion based on the total number of outstanding shares.
| Metric | Value |
|---|---|
| Current Stock Price | $40.00 |
| Market Capitalization | $1.3 billion |
| 52-Week High | $45.00 |
| 52-Week Low | $30.00 |
| Average Daily Trading Volume | 300,000 shares |
Recent Developments
In May 2024, Intapp acquired Transform Data International B.V. for $9 million, which was financed through cash and stock options. This acquisition is expected to enhance Intapp's capabilities in data analytics and integration, further strengthening its position in the professional services market.
Future Outlook
Analysts are projecting a positive outlook for Intapp, Inc. with expected revenue growth driven by increasing demand for cloud-based solutions. The company reported total revenues of $118.8 million for the three months ended September 30, 2024, with a gross margin of 73%. The growing client base, which now exceeds 2,600 firms, indicates robust market acceptance and potential for future revenue expansion.
Intapp, Inc. (INTA) Mission Statement
Intapp, Inc. is a leading global provider of AI-powered solutions tailored for professionals in advisory, capital markets, and legal firms. The company's mission is to enable professionals to unlock their teams’ knowledge, relationships, and operational insights, thereby enhancing the value delivered to their respective firms. By leveraging Applied AI, Intapp simplifies the access to firm and market intelligence, making it easier for clients to find, understand, and utilize critical information.
Through its comprehensive portfolio of vertical SaaS solutions, Intapp empowers professionals to apply their collective expertise effectively, facilitating smarter decision-making, risk management, and competitive advantage in their markets. The firm’s industry-specific platform is trusted by some of the top firms in accounting, consulting, investment banking, legal, private capital, and real assets, enabling them to modernize operations and drive new growth.
Financial Overview
As of September 30, 2024, Intapp reported total revenues of $118.8 million, reflecting a 17% increase from $101.6 million in the same period of the previous year. The gross margin stood at 73%, indicating robust profitability.
| Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Revenues | $118.8 million | $101.6 million | 17% |
| Gross Margin | 73% | N/A | N/A |
| Operating Cash Flow | $24.4 million | $11.6 million | 110% |
| Net Loss | $(4.5) million | $(15.3) million | 70% |
| Cash and Cash Equivalents | $253.8 million | N/A | N/A |
Revenue Breakdown
Intapp generates its revenue primarily from software subscriptions, which are typically structured with one-year or multi-year contracts. The revenue from Software as a Service (SaaS) subscriptions is recognized ratably over the contract term, while license revenues are recognized upfront.
| Revenue Type | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| SaaS Revenue | $76.9 million | $58.9 million | 30% |
| License Revenue | $28.5 million | $28.1 million | 2% |
| Professional Services Revenue | $13.4 million | $14.6 million | (8%) | Total Revenue | $118.8 million | $101.6 million | 17% |
Key Performance Indicators
Several key metrics indicate the operational performance of Intapp:
- Annual Recurring Revenue (ARR): $417.2 million as of September 30, 2024, up 19% from $350.1 million in 2023.
- Cloud ARR: $309.1 million, a 27% increase year-over-year.
- Net Revenue Retention (NRR): 114%, reflecting strong customer engagement and expansion.
- Number of Clients: Over 2,600 clients, with 707 clients having contracts exceeding $100,000 in ARR.
Liquidity and Capital Resources
As of September 30, 2024, Intapp maintained a strong liquidity position with cash and cash equivalents of $253.8 million. The company’s remaining performance obligations, representing future revenue under contract yet to be recognized, amounted to $549.4 million.
Intapp finances its liquidity needs mainly through client collections and the issuance of equity securities. The company’s operational cash flow for the quarter was $24.4 million, significantly higher than the prior year.
| Liquidity Metrics | As of September 30, 2024 |
|---|---|
| Cash and Cash Equivalents | $253.8 million |
| Remaining Performance Obligations | $549.4 million |
| Operating Cash Flow (Q3 2024) | $24.4 million |
Investment and Growth Strategy
Intapp continues to invest in innovation and evaluate acquisition opportunities to enhance its platform and expand its market presence. The focus remains on integrating complementary businesses within the professional and financial services sectors to drive growth and improve service delivery.
How Intapp, Inc. (INTA) Works
Overview of Business Operations
Intapp, Inc. is a leading provider of AI-powered software solutions for professional services firms, including those in advisory, capital markets, and legal sectors. The company focuses on enhancing operational efficiencies and decision-making through its suite of vertical SaaS solutions. Intapp's revenue is generated primarily through software subscriptions, which are typically offered on a one-year or multi-year contract basis. As of September 30, 2024, Intapp reported total revenues of $118.8 million, reflecting a 17% increase from $101.6 million in the same period of the previous year.
Revenue Breakdown
Intapp's revenue streams consist of three primary categories: SaaS, licenses, and professional services. The following table details the revenue breakdown for the three months ended September 30, 2024, compared to the same period in 2023:
| Revenue Source | 2024 Revenue (in thousands) | 2023 Revenue (in thousands) | Change (in thousands) | Percentage Change |
|---|---|---|---|---|
| SaaS | $76,876 | $58,913 | $17,963 | 30% |
| License | $28,492 | $28,051 | $441 | 2% |
| Professional Services | $13,437 | $14,611 | $(1,174) | (8%) |
| Total Revenues | $118,805 | $101,575 | $17,230 | 17% |
Cost of Revenues and Gross Profit
For the three months ended September 30, 2024, Intapp incurred costs relating to its revenue streams, detailed below:
| Cost Category | 2024 Cost (in thousands) | 2023 Cost (in thousands) | Change (in thousands) | Percentage Change |
|---|---|---|---|---|
| SaaS | $15,318 | $12,711 | $2,607 | 21% |
| License | $1,752 | $1,702 | $50 | 3% |
| Professional Services | $14,864 | $17,160 | $(2,296) | (13%) |
| Total Cost of Revenues | $31,934 | $31,573 | $361 | 1% |
The gross profit for the company for the three months ended September 30, 2024, was $86.9 million, which is a 24% increase from $70.0 million in the previous year.
Operating Expenses
Intapp's operating expenses for the same period are outlined in the table below:
| Expense Category | 2024 Expense (in thousands) | 2023 Expense (in thousands) | Change (in thousands) | Percentage Change |
|---|---|---|---|---|
| Research and Development | $32,427 | $28,496 | $3,931 | 14% |
| Sales and Marketing | $37,760 | $34,419 | $3,341 | 10% |
| General and Administrative | $23,938 | $21,052 | $2,886 | 14% |
| Total Operating Expenses | $94,125 | $83,967 | $10,158 | 12% |
Net Loss and Earnings Per Share
Intapp reported a net loss of $4.5 million for the three months ended September 30, 2024, down from a net loss of $15.3 million in the previous year. The net loss per share was $(0.06) compared to $(0.22) in the same period of 2023.
Cash Flow and Liquidity
As of September 30, 2024, Intapp had cash and cash equivalents totaling $253.8 million. The net cash provided by operating activities was $24.4 million, an increase from $11.6 million in the previous year. The company reported net cash used in investing activities of $2.8 million and net cash provided by financing activities of $21.5 million.
Annual Recurring Revenue (ARR)
As of September 30, 2024, Intapp's ARR was $417.2 million, a 19% increase from $350.1 million in the previous year. The company's Cloud ARR, which represents the annualized recurring value of its active SaaS contracts, was $309.1 million, reflecting a 27% increase.
Client Base and Market Position
Intapp served over 2,600 clients as of September 30, 2024, with a significant portion of its revenue coming from clients with contracts exceeding $100,000 of ARR. The company reported a trailing twelve months' Net Revenue Retention (NRR) of 114%, indicating strong client retention and expansion.
How Intapp, Inc. (INTA) Makes Money
Revenue Streams
Intapp, Inc. primarily generates revenue through three main streams: Software as a Service (SaaS), license fees, and professional services. As of September 30, 2024, the revenue breakdown is as follows:
| Revenue Stream | Q3 2024 Revenue (in thousands) | Q3 2023 Revenue (in thousands) | Change (%) |
|---|---|---|---|
| SaaS | $76,876 | $58,913 | 30% |
| License | $28,492 | $28,051 | 2% |
| Professional Services | $13,437 | $14,611 | (8%) |
| Total Revenues | $118,805 | $101,575 | 17% |
SaaS Revenue Growth
SaaS revenues increased by $18.0 million, or 30%, in the three months ended September 30, 2024, compared to the same period in the previous year. This growth is attributed to:
- Sales to new clients.
- Expansion of existing clients through cross-selling and upselling.
- Migration from on-premise license solutions to cloud solutions.
License Revenue
License revenues increased by $0.4 million, or 2%, for the same period. Revenue from licenses is recognized upfront, while support components are recognized ratably over the support term.
Professional Services Revenue
Professional services revenues decreased by $1.2 million, or 8%, due to changes in the mix of resource delivery to third-party implementation partners.
Cost of Revenues
The cost of revenues for the three months ended September 30, 2024, is detailed below:
| Cost Category | Q3 2024 Cost (in thousands) | Q3 2023 Cost (in thousands) | Change (%) |
|---|---|---|---|
| SaaS | $15,318 | $12,711 | 21% |
| License | $1,752 | $1,702 | 3% |
| Professional Services | $14,864 | $17,160 | (13%) |
| Total Cost of Revenues | $31,934 | $31,573 | 1% |
Gross Profit
Gross profit for the three months ended September 30, 2024, totaled $86.9 million, representing a gross margin of 73%. This is an increase of $16.9 million, or 24%, compared to the same period in 2023.
Operating Expenses
Operating expenses for the three months ended September 30, 2024, are broken down as follows:
| Expense Category | Q3 2024 Expense (in thousands) | Q3 2023 Expense (in thousands) | Change (%) |
|---|---|---|---|
| Research and Development | $32,427 | $28,496 | 14% |
| Sales and Marketing | $37,760 | $34,419 | 10% |
| General and Administrative | $23,938 | $21,052 | 14% |
| Total Operating Expenses | $94,125 | $83,967 | 12% |
Net Loss
For the three months ended September 30, 2024, Intapp reported a net loss of $4.5 million, compared to a net loss of $15.3 million for the same period in 2023. The net loss per share, basic and diluted, was $(0.06) for Q3 2024.
Cash Flow and Liquidity
As of September 30, 2024, Intapp had cash and cash equivalents totaling $253.8 million. Net cash provided by operating activities was $24.4 million, with net cash used in investing activities at $(2.8 million).
Key Performance Metrics
As of September 30, 2024, the following key performance metrics were reported:
- Annual Recurring Revenue (ARR): $417.2 million
- Cloud ARR: $309.1 million
- Net Revenue Retention (NRR): 114%
- Number of clients: 2,600+
- Clients with contracts >$100,000 ARR: 707
Intapp's business and revenue model is heavily reliant on the SaaS segment, with a significant focus on expanding client relationships and migrating existing clients from on-premise solutions to their cloud offerings.
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Resources:
- Intapp, Inc. (INTA) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of Intapp, Inc. (INTA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Intapp, Inc. (INTA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.