Intapp, Inc. (NASDAQ:INTA) Q3 2024 Earnings Call Transcript

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Intapp, Inc. (NASDAQ:INTA) Q3 2024 Earnings Call Transcript May 7, 2024

Intapp, Inc. misses on earnings expectations. Reported EPS is $-0.09486 EPS, expectations were $0.07. Intapp, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day and thank you for standing by. Welcome to Intapp's Fiscal Third Quarter 2024 Webcast. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, David Trone, Senior Vice President of Investor Relations. David, please go ahead.

David Trone: Thank you. Welcome to Intapp's fiscal third quarter 2024 financial results. On the call with me today are: John Hall, Chairman and CEO of Intapp; and David Morton, Chief Financial Officer. During the course of this conference call, we may make forward-looking statements regarding trends, strategies and the anticipated performance of our business, including guidance provided for our fiscal fourth quarter and full year 2024. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date and are subject to various risks and uncertainties, including those described in our SEC filings and other publicly available documents, that are difficult to predict and could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Intapp disclaims any obligation to update or revise any forward-looking statements, except as required by law. Further, on today's call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. As a reminder, all of our financial figures we will discuss today are non-GAAP, except for revenue and revenue growth and current remaining performance obligations. Our GAAP financial results, along with reconciliations of GAAP to non-GAAP financial measures can be found in today's earnings release and its supplemental financial tables which is available on our website and as an exhibit to the Form 8-K furnished with the SEC prior to this call, or a supplemental financial presentation which is available on our website.

With that, I'll hand the conversation over to John.

John Hall: Thank you, David. Good afternoon, everyone. Thank you for joining us, as we share the results of our fiscal third quarter. We had an exciting quarter filled with events and announcements that I'll recap for you today. In Q3, we announced the release of new generative AI capabilities designed for the specialized needs of our target markets. We hosted our inaugural Investor Day. We held successful client and partner events. We acquired AI provider delphai and we updated our Applied AI intelligence applied branding. We also drove strong results through the acquisition of new logos and the expansion of our existing accounts around the world. In Q3, our cloud ARR grew to $274.2 million up 33% year-over-year. Cloud now represents 72% of our total ARR of $382.7 million.