Intapp Q4 FY26 earnings call INTA

Intapp introduced Firm AI as a distinct category from desk-level AI tools, focusing on the business of the firm rather than individual productivity. Celeste, now generally available since July 15, integrates four layers (Coworker agents, firm data, Walls for AI, compounding decisions) to provide compliant, firm-specific AI solutions, leveraging Intapp's 25 years of industry data and workflows. This strategy is resonating with senior leaders who see it as a way to drive growth and operational efficiency beyond practice-level AI, with AI bookings doubling sequentially in FQ4 to over 20% of net new bookings.

The company achieved a record number of cloud migrations in Q4, with over 30 firms moving from on-premise to cloud. This acceleration is driven by clients' urgency to access Celeste and Firm AI capabilities, which require a cloud foundation. 95% of clients now have Intapp in the cloud, reinforcing the durability of future subscription growth. The multiplier for converting on-prem customers to SaaS is consistently 20% to 30%, which then opens up further selling cycles for Celeste.

Intapp's co-sell partners influenced approximately one-third of new logo wins for the year, contributing to 35% year-over-year growth in co-sell bookings. Microsoft is a key partner, co-selling on 8 of the top 10 deals in FY26, with Azure Marketplace and MACC alignment streamlining transactions. Partner-led projects nearly doubled year-over-year, and partner certifications grew 29%, indicating strong investment in the Intapp platform.

Intapp secured significant wins across its target industries. In legal, BakerHostetler and a leading international law firm adopted Celeste for intake, compliance, and time capture. In accounting, Wipfli and a global professional services firm chose Intapp for employee compliance and M&A processes. Financial services firms like Hg and MP Corporate Finance are leveraging Celeste for front-office deal screening and integrated investment banking platforms, demonstrating the platform's broad applicability and the appeal of Firm AI to diverse highly regulated industries.

Celeste's monetization model involves a platform fee plus a usage fee. The company is actively studying token usage and costs with early adopters, noting that Celeste's architecture is designed to manage tokenomics efficiently by leveraging existing firm data and being model-agnostic. This approach aims to deliver business outcomes compliantly without excessive external API calls, addressing a key concern for CIOs and COOs regarding AI deployment.

Firms are allocating budgets for AI from several sources: shifting existing IT budgets, creating new AI-specific budgets (1-2% of revenue), and reallocating traditional labor budgets. The Firm AI strategy appeals to senior management by addressing significant operational expenses in business services and growth opportunities, which practice-level AI tools do not cover. This broad budget access contributes to the large value lands seen with Celeste, even in its early availability phase.