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Intapp (INTA) Q4 FY26 earnings call: guidance and Q&A

Earnings call· Jun 2026 (Q4 FY26)· Information Technology· Aug 4, 2026

Source: earnings call transcript

Executive summary

Intapp Q4 FY26 — Firm AI and Celeste Drive Strong Cloud ARR Growth and Profitability

Intapp closed FY26 with robust cloud ARR growth and strong profitability, driven by the successful launch and adoption of its Firm AI strategy and Celeste platform. The company is seeing significant client momentum in cloud migrations and AI bookings, positioning it for continued expansion into the enterprise market. Management is focused on leveraging its unique data and compliance infrastructure to capitalize on the agentic AI opportunity within highly regulated industries.

Highlights

5

  • Cloud ARR grew 29% year-over-year to $495.7 million, now representing 84% of total ARR.

  • Non-GAAP diluted EPS increased to $0.41 from $0.27 a year ago.

  • Free cash flow reached $45.9 million, up over 20% year-over-year, with full-year margin at 25%.

  • AI bookings doubled sequentially in Q4, representing over 20% of net new bookings.

  • Cloud net revenue retention held steady at approximately 123%.

Concerns

2

  • License revenue decreased 25% year-over-year to $23.9 million, reflecting cloud migration and on-prem EOL dynamics.

  • Total remaining performance obligations (RPO) growth was 16% year-over-year, with on-premise RPO acting as a headwind.

Guidance & targets

CategoryTargetConfidence
Subscription revenue
$123.7 million and $124.7 million
high materiality
High
Total revenue
$159.3 million and $160.3 million
high materiality
High
Non-GAAP operating income
$33.4 million and $34.4 million
medium materiality
High
Non-GAAP EPS
$0.39 and $0.41
high materiality
High
Subscription revenue
$528.7 million and $532.7 million
high materiality
High
Total revenue
$656.5 million and $660.5 million
high materiality
High
Non-GAAP operating income
$134.7 million and $138.7 million
medium materiality
High
Non-GAAP EPS
$1.58 and $1.62
high materiality
High
ARR
$1 billion
high materiality
High

Orderbook & backlog

Total remaining performance obligations (RPO) $833 million Q4 FY26

up 16% year-over-year

On-premise RPO presented a headwind to the overall growth rate.

Total ARR $590.5 million Q4 FY26

increased 22% year-over-year

Cloud ARR $495.7 million Q4 FY26

grew 29% year-over-year

Represents 84% of total ARR.

Total net new ARR surpass $100 million FY26

Eclipsed the on-prem ARR base, which is now sub-$100 million as of FQ4.

Product announcements

ProductTypeDetails
Celestelaunch
Moody's integration with Celesteexpansion

Deals & partnerships

Microsoft Co-sell partnership, Azure Marketplace, MACC alignment

Microsoft is a key co-sell partner, streamlining marquee deals across verticals via greater Azure Marketplace and MACC alignment. The partnership helps deepen Azure and AI footprints with firms.

Moody's Data integration into Celeste

Expanded partnership to bring Moody's credit risk, SDN screening, and ownership data directly into Celeste, enhancing counterparty intelligence for legal, private capital, and accounting firms.

Risks & headwinds

License revenue decline due to cloud migration Q4 FY26 and FY26

License revenue was $23.9 million, down 25% year-over-year (Q4 FY26); $103.4 million, down 14% year-over-year (FY26).

Mitigation:Reinforces the migration pipeline that underpins subscription growth outlook; clients shortening on-prem contract durations to 1 year or less ahead of cloud move.

On-premise RPO headwind Q4 FY26

Total remaining performance obligations were $833 million, up 16% year-over-year, with on-premise RPO presenting a headwind to the overall growth rate.

Mitigation:Reflects cloud migrations and implied end-of-life dynamics, reinforcing the shift to cloud-based subscription models.

What to watch in Q1 FY27

Celeste Adoption and Monetization

next quarter
Current AI bookings doubled sequentially in FQ4 to over 20% of net new bookings; Celeste became generally available on July 15.
Target Continued acceleration in AI bookings and clear revenue contribution from Celeste's platform and usage fees.

Why it matters

Celeste is central to the Firm AI strategy and its successful monetization is key to future growth and market leadership.

The Celeste general availability launch just a few weeks ago kicked off fiscal 2027 with an even wider opportunity for client adoption and bookings contribution to build over the coming quarters and years.

Find out whether INTA delivers this. Inve re-checks your case every morning.

Q&A highlights

Where is the operating leverage coming from to offset lost license revenue, and is the AI bookings growth a result of the Firm AI initiative?

Leverage comes from SaaS growth, cloud migration, improved professional services margins, G&A efficiency, and lower customer acquisition costs. AI bookings are indeed driven by the Firm AI strategy and strong uptake of Celeste, even in limited availability, resonating with senior firm leaders.

“Yes, I mean, we've worked really hard through the year, driving operational leverage facilitated vis-a-vis our successes on the top line. Clearly, our SaaS attribution continues to be first and foremost. We finally punched through 3 quarters of revenue being SaaS.”

asked by Kevin McVeigh · answered by David Morton

2 min read 6 chapters

Detailed narrative

Firm AI and Celeste Platform

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.

Cloud Migration Acceleration

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.

Partner Ecosystem Strength

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.

Industry-Specific Wins

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.

Monetization and Tokenomics

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.

Budget Allocation for AI

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.

Summary of the company's earnings call; see how call summaries are prepared. Not investment advice.