Intapp Announces Fourth Quarter and Full Fiscal Year 2022

• Fourth quarter SaaS and assist income of $52.7 million, up 34% year-over-year
• Fourth quarter complete income of $75.5 million, up 23% year-over-year
• Cloud annual recurring income (ARR) of $162.9 million, up 48% year-over-year

PALO ALTO, Calif., Sept. 07, 2022 (GLOBE NEWSWIRE) — Intapp, Inc. (NASDAQ: INTA), a number one supplier of industry-specific, cloud-based software program options that allow related skilled and monetary providers corporations, introduced its monetary outcomes for the fourth quarter and full fiscal yr ended June 30, 2022. Intapp additionally offered its outlook for the primary quarter and full fiscal yr of 2023.

“We are proud to end the fiscal fourth quarter and our first year as a public company on a high note, having beaten our guidance every quarter,” mentioned John Hall, CEO of Intapp. “We enter fiscal year 2023 with continued strong demand for our purpose-built solutions and industry cloud platform, and a stellar team of dedicated professionals who are committed to providing value to the clients we serve across the professional and financial services industry.”

Fourth Quarter of Fiscal Year 2022 Financial Highlights

• SaaS and assist income was $52.7 million, representing a 34% year-over-year improve in comparison with the fourth quarter of fiscal yr 2021.
• Total income was $75.5 million, representing a 23% year-over-year improve in comparison with the fourth quarter of fiscal yr 2021.
• Cloud ARR was $162.9 million as of June 30, 2022, a rise of 48% year-over-year in comparison with Cloud ARR as of June 30, 2021. Cloud ARR represented 60% of complete ARR as of June 30, 2022, as in comparison with 52% as of June 30, 2021.
• Total ARR was $270.5 million as of June 30, 2022, a rise of 27% year-over-year in comparison with Total ARR as of June 30, 2021.
• GAAP working loss was $22.8 million, in comparison with a GAAP working lack of $9.6 million within the fourth quarter of fiscal yr 2021, primarily reflecting a rise in non-cash inventory compensation expense.
• Non-GAAP working loss was $3.9 million, in comparison with a non-GAAP working revenue of $0.6 million within the fourth quarter of fiscal yr 2021, reflecting deliberate development investments.
• GAAP web loss attributable to frequent stockholders was $21.6 million, in comparison with a GAAP web loss attributable to frequent stockholders of $19.9 million within the fourth quarter of fiscal yr 2021, primarily reflecting a rise in non-cash inventory compensation expense.
• Non-GAAP web loss attributable to frequent stockholders was $2.6 million, in comparison with a non-GAAP web loss attributable to frequent stockholders of $5.7 million within the fourth quarter of fiscal yr 2021.
• GAAP web loss per share attributable to frequent stockholders was $0.35, in comparison with a GAAP web loss per share attributable to frequent stockholders of $0.68 within the fourth quarter of fiscal yr 2021. *
• Non-GAAP web loss per share attributable to frequent stockholders was $0.04, in comparison with a non-GAAP web loss per share attributable to frequent stockholders of $0.19 within the fourth quarter of fiscal yr 2021. *

Fiscal Year 2022 Financial Highlights

• SaaS and assist income was $193.0 million, representing a 34% year-over-year improve in comparison with fiscal yr 2021.
• Total income was $272.1 million, representing a 27% year-over-year improve in comparison with fiscal yr 2021.
• GAAP working loss was $99.5 million, in comparison with a GAAP working lack of $23.0 million in fiscal yr 2021, primarily reflecting a rise in non-cash inventory compensation expense.
• Non-GAAP working loss was $7.1 million, in comparison with a non-GAAP working revenue of $8.0 million in fiscal yr 2021, primarily reflecting the primary yr prices of being a publicly traded firm and deliberate development investments.
• GAAP web loss attributable to frequent stockholders was $99.7 million, in comparison with a GAAP web loss attributable to frequent stockholders of $62.3 million in fiscal yr 2021, primarily reflecting a rise in non-cash inventory compensation expense.
• Non-GAAP web loss attributable to frequent stockholders was $7.3 million, in comparison with a non-GAAP web loss attributable to frequent stockholders of $15.8 million in fiscal yr 2021.
• GAAP web loss per share attributable to frequent stockholders was $1.63, in comparison with a GAAP web loss per share attributable to frequent stockholders of $2.23 in fiscal yr 2021. *
• Non-GAAP web loss per share attributable to frequent stockholders was $0.12, in comparison with a non-GAAP web loss per share attributable to frequent stockholders of $0.56 in fiscal yr 2021. *

* Net loss per share attributable to frequent stockholders for the three months and fiscal yr ended June 30, 2022 contains, on a weighted-average foundation, 19.0 million shares of frequent inventory issued upon the conversion of convertible most popular inventory and 12.1 million shares of frequent inventory issued upon the completion of our preliminary public providing in July 2021.

Balance Sheet and Cash Flow Highlights

• Cash and money equivalents had been $50.8 million as of June 30, 2022, in comparison with $37.6 million as of June 30, 2021.
• For the fiscal yr ended June 30, 2022, money offered by working actions was $14.2 million, in comparison with money utilized in working actions of $9.7 million for the fiscal yr ended June 30, 2021.

Business Highlights

• We served greater than 2,100 purchasers, 506 of which every generated greater than $100,000 of ARR. In addition, at fiscal yr ended June 30, 2022, we had 41 purchasers with greater than $1.0 million of ARR, up from 31 such purchasers on the prior fiscal yr finish.
• Due to a gradual improve in ARR from upsell and cross-sell motions, we achieved a mean web income retention price of greater than 114% in fiscal yr 2022, up from a mean of greater than 110% in fiscal yr 2021.
• We introduced a strategic partnership with KPMG to speed up enterprise-level digital transformation within the skilled and monetary providers {industry}.
• We acquired Billstream, a next-gen prebilling automation and workflow expertise, to ship an entire work-to-bill answer for skilled providers corporations by way of our OnePlace answer.
• We launched Intapp Documents for Corporate Legal, which extends Microsoft 365 performance to ship intuitive and collaborative matter lifecycle administration for in-house authorized departments.
• OnePlace and DealCloud adoption continued as we added new purchasers together with regulation corporations Beck Redden and Lightfoot, Franklin & White, development fairness agency Arrowroot Capital and actual property finance platform Haven Capital.
• Our DealCloud answer was named finest CRM and deal-origination expertise on the 2022 Drawdown Awards.

First Quarter and Full Fiscal Year 2023 Outlook

The steerage offered above constitutes forward-looking statements and precise outcomes might differ materially. Refer to the “Forward-Looking Statements” protected harbor part under for data on the elements that might trigger our precise outcomes to vary materially from these forward-looking statements.

The data offered on this press launch contains non-GAAP monetary measures similar to “non-GAAP operating profit (loss),” “non-GAAP net loss,” and “non-GAAP net loss per share.”  Refer to “Non-GAAP Financial Measures and Other Metrics” for a dialogue of those measures and the monetary tables under for reconciliations of every non-GAAP monetary measure to essentially the most immediately comparable GAAP monetary measure. The Company has not included a quantitative reconciliation of its steerage for non-GAAP working loss and non-GAAP web loss per share to their most immediately comparable GAAP monetary measures as a result of sure of those reconciling gadgets, together with stock-based compensation and amortization of intangible belongings, may very well be extremely variable and can’t be fairly predicted with out unreasonable effort. This is as a result of inherent problem of forecasting the timing of sure occasions that haven’t but occurred and are out of the Company’s management and the quantities of related reconciling gadgets. Please word that the unavailable reconciling gadgets might considerably affect the Company’s GAAP working outcomes.

Corporate Presentation

A supplemental monetary presentation and different data will likely be accessible by way of Intapp’s investor relations web site at https://investors.intapp.com/.

Webcast

Intapp will host a convention name for analysts and buyers on Wednesday, September 7, 2022, starting at 2:00 p.m. PT (5:00 p.m. ET). The name will likely be webcast reside through the “Investors” part of the Intapp firm web site at https://investors.intapp.com/. A replay of the decision will likely be out there by way of the Intapp web site for 90 days.

About Intapp
Intapp makes the related agency attainable. We present cloud software program options that handle the distinctive working challenges and regulatory necessities of the worldwide skilled and monetary providers {industry}. Our options assist greater than 2,100 of the world’s premier personal capital, funding banking, authorized, accounting, and consulting corporations join their most necessary belongings: individuals, processes, and information. As a part of a related agency, professionals achieve easy accessibility to the data they should win extra business, improve funding returns, streamline deal and engagement execution, and strengthen threat administration and compliance.

Forward-Looking Statements

This press launch accommodates specific and implied “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995, together with statements concerning our monetary outlook for the primary quarter and full yr of fiscal yr 2023, development technique, business plans and market place. In some instances, you’ll be able to determine forward-looking statements by phrases similar to “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” “expand,” “outlook” or the destructive of those phrases, and related expressions meant to determine forward-looking statements. By their nature, these statements are topic to quite a few uncertainties and dangers, together with elements past our management, that might trigger precise outcomes, efficiency, or achievement to vary materially and adversely from these anticipated or implied within the statements, together with: our skill to proceed our development at or close to historic charges; our future monetary efficiency and skill to be worthwhile; the impact of world occasions, such because the COVID-19 pandemic and Russia’s invasion of Ukraine, on the U.S. and world economies, our business, our workers, outcomes of operations, monetary situation, demand for our merchandise, gross sales and implementation cycles, and the well being of our purchasers’ and companions’ companies; our skill to forestall and reply to information breaches, unauthorized entry to consumer information or different disruptions of our options; our skill to successfully handle U.S. and world market and financial circumstances, together with inflationary pressures and financial and market downturns, significantly adversarial to our focused industries; the size and variability of our gross sales cycle; our skill to draw and retain clients; our skill to draw and retain expertise; our skill to compete in extremely aggressive markets; our skill to handle further complexity, burdens, and volatility in reference to our worldwide gross sales and operations; our skill to incur indebtedness sooner or later and the impact of circumstances in credit score markets; the sufficiency of our money and money equivalents to satisfy our liquidity wants; and our skill to take care of, shield, and improve our mental property rights. Additional dangers and uncertainties that might trigger precise outcomes and outcomes to vary materially from these contemplated by the forward-looking statements are included underneath the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-Ok, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Moreover, we function in a really aggressive and quickly altering surroundings, and new dangers might emerge sometimes. It shouldn’t be attainable for us to foretell all dangers, nor can we assess the affect of all elements on our business or the extent to which any issue, or mixture of things, might trigger precise outcomes or outcomes to vary materially from these contained in any forward-looking statements we might make. Forward-looking statements communicate solely as of the date the statements are made and are based mostly on data out there to us on the time these statements are made and/or administration’s good religion perception as of that point with respect to future occasions. We assume no obligation to replace forward-looking statements to replicate occasions or circumstances after the date they had been made, besides as required by regulation.

Non-GAAP Financial Measures and Other Metrics

This press launch accommodates the next non-GAAP monetary measures: non-GAAP gross revenue, non-GAAP gross margin, non-GAAP working bills, non-GAAP working revenue (loss), non-GAAP web loss and non-GAAP web loss per share. These non-GAAP measures exclude the affect of stock-based compensation, amortization of intangible belongings, change in honest worth of contingent consideration, acquisition-related transaction prices, and non-cash cumulative most popular dividends.

Unlevered free cashflow is a non-GAAP monetary measure, and a supplemental liquidity measure that administration makes use of to guage our core working business and our skill to satisfy our present and future financing and investing wants. It consists of web money offered by (utilized in) working actions much less money paid for purchases of property and tools and capitalized internal-use software program and elevated by money paid for curiosity expense. See under for a reconciliation of every non-GAAP monetary measure to essentially the most immediately comparable GAAP monetary measure.

Other metrics embody complete ARR, Cloud ARR and web income retention price. Total ARR represents the annualized recurring worth of all energetic SaaS and on-premises subscription contracts on the finish of a reporting interval. Cloud ARR is the portion of the annualized recurring worth of our energetic SaaS contracts on the finish of a reporting interval. Contracts with a time period aside from one yr are annualized by taking the dedicated contract worth for the present interval divided by variety of days in that interval, then multiplying by 365.

Net income retention price is calculated by beginning with the ARR from the cohort of all purchasers as of the twelve months previous to the relevant fiscal interval, or prior interval ARR. We then calculate the ARR from these identical purchasers as of the present fiscal interval, or present interval ARR. We then divide the present interval ARR by the prior interval ARR to calculate the web income retention price.

We consider these non-GAAP monetary measures and metrics present helpful data to buyers as they’re utilized by administration to handle the business, make planning choices, consider our efficiency, and allocate assets and present helpful data concerning sure monetary and business developments regarding our monetary situation and outcomes of operations. These non-GAAP monetary measures, which can be totally different than similarly-titled measures utilized by different corporations, shouldn’t be thought-about an alternative to, or superior to, the monetary data ready and offered in accordance with GAAP.

Guidance for non-GAAP monetary measures excludes stock-based compensation expense and amortization of intangible belongings. Non-GAAP web loss per share is calculated by dividing non-GAAP web loss by the estimated weighted common shares excellent for the interval.

Investor Contact

David Trone
Senior Vice President, Investor Relations
Intapp, Inc.
[email protected] 

Media Contact

Ali Robinson
Global Media Relations Director
Intapp, Inc.
[email protected]

Intapp, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in hundreds, besides per share information and percentages)

Intapp, Inc.
CONSOLIDATED BALANCE SHEETS
(Unaudited, in hundreds, besides share and per share information)

Intapp, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in hundreds)

Intapp, Inc.
Reconciliation of GAAP to non-GAAP Financial Measures
(Unaudited, in hundreds, besides per share information and percentages)

The following tables reconcile the precise gadgets excluded from GAAP within the calculation of non-GAAP monetary measures for the intervals indicated under:

Non-GAAP Gross Profit        

Non-GAAP Operating Expenses

Non-GAAP Operating Profit (Loss)

Non-GAAP Net Loss

Unlevered Free Cash Flow