Intapp (INTA) 8 May 232023 Q3 Earnings call transcript

Good day, and thank you for standing by. Welcome to the Intapp Fiscal Third Quarter 2023 Webcast. At this time, all participants on a 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.

like Mr. the now your over would today, speaker I to conference hand to And Senior President, Trone, David Vice Investor Relations. Sir, please go ahead.

to Thank results. Welcome Intapp's quarter third you. XXXX fiscal financial

and today On with Robertson, are CEO Officer. of John Chief the Financial Intapp; me Hall, call Steve and Chairman

trends, are various business, quarter course available regarding statements, statements actual including are differ any materially to These revise our on publicly documents in for fiscal this fourth that guidance full views implied entail described forward-looking of from those anticipated year are and any forward-looking or the results the subject forward-looking as certain to expressed call, predict required we including provided law. and During such make management's current disclaims and assumptions performance as and cause XXXX. and Intapp may risks or of forward-looking difficult based statements. conference those could statements obligation other SEC strategies filings of our expectations by update by and to date except to today's our made uncertainties, and

prior exhibit Further understanding Form reconciliation that earnings our in call, aid we results. this non-GAAP to with the is available found to which SEC on release, call. and certain metrics metrics an believe X-K we website will also A can GAAP as to today's today's comparable financial be of discuss in the our on furnished

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

strong of once and growth, joining quarter. achieved quarterly client pleased cloud logos the support of fiscal results you existing we've I'm supported SaaS Good and share new growth, by afternoon, that our share everyone. us expansion accounts. revenue today results for we our as ARR Thank to third again,

of Intapp’s those large a services and very overlooked you $X may story, our targets who be yet of and trillion professional to underserved financial industry new For firms.

of our accounting banking, were or target [Technical industry originally Most consulting private firms as capital, set and the firms. world's Our investment up are includes legal, target Difficulty].

user but in and the valuable, firms. experts, partnership professionals to become eventually, Within work the and these a careers partners everyday underserved firms, skilled The These and through of specialty we teams analysts investors or professional support their developed as very deeply specialists in their knowledgeable audience. who career becoming begin compliance. associates, and their target global and deals, of directors cross highly that disputes industry advisers

the statutory, wide whole obligations and regulated And a and professional operate of highly must has monitoring professionals successfully navigate and unique a industry, range client ethics a everyday. as with consistently their as they compliance firms to managing that

cloud, compliance industry needs to specifically firms. Intapp’s been and operating the support unique these of designed has

systems their are contrast, relationships leveraging to business win [ph]. ERP differentiated business clients from and were tangible built We knowledge, traditional experience our highly which a In selling value specialized clients investors. collective product and and for companies their on based is expertise, for CRM deliver and

for efficiently competitive risk help solutions profitably, more effectively knowledge leverage their and operate revenues cloud and compliance their advantage. and more returns, our Our increase manage collective and clients

experience Our power drive applied data firm's the important AI their potential technology for clients. and to activates the of their and work help

to legal this cloud and strategy advisory strong dealmaking in Intapp validate and results QX is transformation leading our industry specifically. continue global our

our We year-over-year. up revenue we support firms X,XXX of $XXX represents XX% million, XX% year-over-year. target of which earned grew and premier $XX XX% SaaS of Our $XX up more million year-over-year is and $XXX up our ARR the Cloud XX% quarter And serving cloud ended million, total now total than ARR million. XX% verticals. to across revenue of

our key three contributed that factors strong highlight to to quarter. want I Today,

strategy turn to and a across our discuss of serve. target applied AI with all increasing focused the of And meet needs intelligence developments Then and partnership review verticals discuss our finally, First, we I'll relationship product the firms. DealCloud new adoption, enhanced in capabilities I'll to I'll our update specific on innovation Microsoft.

We Okay, Capital continued that banking In brought and originally DealCloud practices and DealCloud embedded blueprints. solution. on markets. and of implementations QX, is consulting X,XXX on we adoption now more within investment for are to industry Based product. legal, deliver our the Private DealCloud verticals we increasing DealCloud successful as saw adoption the accounting selecting than best the clients

firm collective execute clients firm's better Using growth their complex strategies. DealCloud, relationships and web can our of manage knowledge their leverage to

Here management our the previous NTAP with client of are chose we CRM. long-time and an a to and progress its DealCloud's across examples DealCloud AmLawXXX-firm time solutions, compliance few began that verticals serve. replace Benesch,

DealCloud Scott comes focus Operating that that us to letting Strategy reduce managing on burden stellar the the professionals at and Golin, chose firm administrative the with told client firm's complex Officer Chief service. relationships Benesch delivering

and within accounting A largest and who win drive the process become overall DealCloud world's more with the second example is information, winning the be more With one use firm's its at selected deals. will more business M&A. market armed firm enabling DealCloud, tailored team. timely will development intact to to them modernize corporate effective firms, professionals of The and M&A growth a DealCloud cover to current client, and

XX footprint its top also to of U.S. the one logos In equity financial CRM We the homegrown replace management and in acquire services. horizontal in to DealCloud's traditional continued private systems. new multiple DealCloud firms deal current selected and QX,

a market fundraising highly because coverage. of DealCloud competitive while streamlining will our reputation, the of its and market-leading DealCloud chose firm its capabilities interactions, Through unified enable deal a industry-specific view client process, unique selection expertise. firm-level and

DealCloud continue also leading Switzerland-based investment we like a quarter, at Partners, sales, Capital implementations management throughout firm. new to to LGT firms the including see addition In

innovation. Okay, now turning to

we develop with our strategy which Applied AI our we've capabilities continue been relationship partnership advanced Microsoft. to our offering, quarter, to our covering with We expanded intelligence with this and During enhancements you. AI further Applied

across contact languages. we support signature parsing our multiple now In key automatically engine data, multiplelanguage introduced populates QX, for email AI-driven, that client

and and insights professionals, quality feature eliminating data the and The streamlines of entry us helps data of our it requirements Global clients. work meet the busy further manual to improving and reducing International or

and document capability now deal enhanced management our In with QX, native and collaboration, we also platform. management client embedded a DealCloud of

Office integration on tools and documents key engagement for the matter. Microsoft document teams together critical puts helping directly Our to in and work complex management deal spreadsheets that client core deal with and XXX the a collaboration workflow, to are or

XXX. our partnership our working with this on the also zero-entry are next bringing DealCloud product following Microsoft. or into from in further automatically, example, And professionals to I'll advances Importantly, strategic Microsoft integration key data strategy, in Office progress Teams turn while some

AI headquarters the the world's that from an Summit, law Washington. Microsoft event like complex to Intapp In the CIOs potential topics increasingly landscape. with March, firms, and in CIO Redmond, Microsoft a from co-hosted, regulatory the part ChatGPT top in took legal two-day innovations of range at interactive

partnership her solutions Intapp execute us with purpose-built Harpreet firm, She the We integration the embedded Microsoft that our her Suri, who is the she including unique Law significant Am at our opportunity leveraging innovations investment. that to told efficiently, through that expressed Microsoft help to AI the CIO values her industry. partnership. the extends XXX team about Polsinelli, future legal brings and excitement with an firm provide already

Paragon compliance in that political of and teams Paragon Intapp occur software to policy or not enables personal last QX, firms donations. Paragon's firm’s cloud-based spot acquired to Labs. to monitor like violations. Data I'm week, did trading interest track helps quickly it although personal remediate and also compliance employee And pleased share and conflicts

differentiated We're client The of needs capabilities firms. employee and unique market. support excited the suite enhances sales the We're of Paragon highly this of Jeff to all regulated board his compliance us to our colleagues product which platform's engineering, to compliance existing talented are compliance products, enhance our Co-Founder, help to them team for Mitchell on welcome have pleased regulatory product, and Intapp. continue risk for Intapp and purpose-built to compliance

as legal a I'd wins to through of up-sell new delivery a continue firm footprint. grow add interesting few I'll from and logos, our accounts Okay. new that a innovative notable QX in existing logo now the with a blazing like path client services. and to international we law cross-sell client begin is highlight expand from

told solution, fully and ensure that matter virtual subject Practus, business AI-driven spent delivering Conflicts approach time confidently. the Partner centralized firm cloud. Managing Founder Lively, law John a and Azure The the Intapp that delivered firm and of highest are implement Using our with Practus, 'partnering will ethical maximize all to levels quickly the us at solutions the representation addressed attorneys depend to via our on.' clients Conflicts enable this selected Microsoft will our

existing of our examples few to grow accounts a ability share through to cross-sell. client like also I'd

this the expand Law They an opted of year, and in cloud compliance our suite. XX existing connected talked First, to our QX acquired time we firm Intapp a purchase solution migrate their to firm product, with its top chose to added in firm. firms last and which more Billstream Like and the also goal many Am to creating about call. risk the our investment

As remember, their operations by across toward automates in better all efficiency empower this Billstream their management. firms and these and and their the critical pre-billing goal of new solutions helps profitability to billing data improving and workflows realization in improve attorneys. move compliance cash to revenue client the their you'll timeliness integrating Together, firm

pre-billing relationships revenue additional strengthen pre-billing will Another additionally, And practices. the including and workspaces similarly also in they through during distributed Intapp system. to previous more the Billstream, existing their Intapp's client With replace improve teams. purchased collaboration solutions multiple to accurate its AmLaw quarter, faster across and XXX Billstream the selected client firm enhance realization

and you'll this our by progressing XXXX. more collaboration its their and With risk the goal cover of a firm, using workspaces becoming and their we connected compliance, developed of how Intapp platform solutions all client work adoption in Intapp acquisition capabilities of Intapp they modernizing that contracting is pre-billing, As steadily Repstor and now expanding recall, towards large from technology

least, market and and industry validated a innovation of DealCloud in our quarter last continued but both Okay, not the awards pair leadership.

Real St top Deal Provider. for real Technology estate in winner technology European and was a influencer Globe awards equity categories Management XXXX private Estate the commercial the Best DealCloud and named two wire of named in Best DealCloud, Secure Origination also First, Forum Workflow

we're near to our and year, and fiscal To consistent our our in predictable, performance, the invest conclude, end as global durable with and cloud digital model $XX despite TAM we our uncertainty. revenue of growth billion some highly with transformation continues economic a pleased is market end

we're ahead grow pursuing add to to achieve growth goals. significant help We and and accounts opportunity continue to clients the transformation their existing cloud our long-term industry new

operate for client increase firms, purpose-built and compelling returns, leverage cloud collective for compliance profitably, revenues and to effectively their helping manage knowledge industry has them Our our more platform more and efficiently and value competitive advantage. risk

thank all you very QX Thank hard investors, much. dedication to led our performance. to clients, and strong like and Board I'd employees work whose partners, our our

to Okay, you. Steve, over

Thanks, us John, and today. thanks, everyone, for joining

and year-over-year, XX% we a total XX% noted, had our our with John cloud up quarter As ARR strong up ARR year-over-year.

Before On-premises a its ARR review revenue I XX% of revenue the of I'd a and financials, ARR few the included license reminder, our two subscription revenue recognition quickly has to our our financial fundamentals volume. new SaaS revenue ratably is in as XX% parts, of ratably and sale time support recognized recognized following of SaaS upfront model, go renewal at just like Cloud of through in or sale renewal. recognized support in recognized a and revenue

revenue Because revenue and is can timing support quarter-to-quarter, of on license ratably, vary it recognition. is recognized based while predictable SaaS more revenue the subscription

Okay.

was cloud Moving to up services and growth purpose-built sales as primarily support reflecting to cross-sells sales our solutions. upsells continued million, $XX.X solutions and Total of well both and year-over-year, by professional revenue. revenue strong year-over-year, new clients, in clients to million, existing as cloud new by revenue was solid up Intapp’s XX% driven our numbers. $XX SaaS XX%

period, renewals $XX.X year compared license with rate $X CPI-based year million revenue was million in to on in prior the implementations. consistent was current renewals on Subscription million prior certain contracts. revenue the price Professional as reflecting an well software $XX.X million as annual the period, reflecting multiyear increases $XX.X pace growth as compared increased services to larger of

$XXX,XXX, least in quarter and than with execute the had X,XXX from of the clients, which our land more XXX Overall, we model, expand ending up continue ARR period. of prior year $XXX at to

to upsold clients, our retention existing XXX%. we our rate was addition, cross-sold that and our trailing XXX% within recently net In XX-month of increased revenue such range

Before profitability, margins, note and I forward. will discussing discussing non-GAAP going please that expenses results gross be

in along GAAP tables. reconciliation release GAAP and our be results, and its reminder, a a found non-GAAP press supplemental with can As between results our earnings financial financial

success non-GAAP team a in realignment and the gross of executed as Total client in Third our quarter prior results as were to follows: a period, was compared XX.X% from sales margin of portion year our gross reflecting primarily organizational sales margin an XX.X% cost services and to marketing. previously increase of

million $XX as to we realignment. increase development product year-over-year expenses and in as a support $XX.X and new in increase continue million, capture mentioned Non-GAAP organizational to marketing marketing function Non-GAAP growth. million and a our sales $X.X invest our year-over-year business sales, expense million, along operating commissions were sales was markets, a growing previously headcount of to increased with related the $XX.X

we year-over-year scalability our road R&D G&A in $XX.X Non-GAAP expense some a in see product million, $X.X continue increased was as $XX.X as investments and business. map. increase year-over-year, million the we and leverage million $X.X was expense a million, increase headcount Non-GAAP to

of quarter of fiscal fully Non-GAAP third compared to compared of was operating diluted $X.X fiscal profit operating net the was fiscal as in in non-GAAP loss million. our $X.XX as XXXX. quarter of share $X.XX XXXX to loss a XXXX per million income the quarter third $X.X third Non-GAAP

ended the and terms equivalents. $XX.X million cash cash balance In quarter of sheet, in the with we

Now guidance. turning to

of For expect quarter million in $XX.X range $XX and the and of million support between fiscal to SaaS fourth million. we total the XXXX, $XX and $XX.X million revenue revenue

to weighted to $X.XX, common approximately non-GAAP We in count in operating million of expect a quarter non-GAAP fully per $X.XX million, the $X.X the of of results using share range diluted and $X.X XX outstanding. shares range million profit for the share

we year in million full million $XXX $XXX.X fiscal expect $XXX range XXXX, and the of and of total the support revenue to million For $XXX.X and SaaS between revenue million.

in net profit outstanding. per $XX million weighted $X.XX fully approximately of XX for share a the to $X.XX the operating non-GAAP income $X to in non-GAAP expect shares XXXX also diluted and of be million using and year range share We to count, range million of common fiscal

to I and forward your John taking questions. that, With look

[Operator of Instructions] Ikeda Bank America you. Thank come Securities. question first Koji Our of will from

Your line is open.

questions. Thanks Hey the for taking guys.

that And resiliency the you every from think this have couple market. of things to end quarter, Thanks. at but just are effects turmoil of maybe of you overall operating here. health your touch to all? of Are I a might seeing figure you kind the Just guys you I how target So, be industry out are have Clearly, I wanted me. markets? on guys end affecting seeing market? your any well banking changed the trying the target guys

industry effect through has of to sales the that Thanks through continuing not we've on no, seen the Koji. us We're and cycles, call but watch, we previous an couple cycles, we have right recessions. on the supported grown last

optimistic. we're So,

out We tend fee. have -- you if target said our well. that look verticals get do to across the their management private paid firms We of capital

very So, that's stable.

The up law the although stable The investment our tends watch want for always and consulting to at very to we firms, larger one be that the midsize. banking, this do the there firms, us. accounting growing into have been We're firms firms more. more position

But So, we're going doing well. attention. pay no, to been so we've far,

an for remarks it it follow-up one kind the I just mention recall of XXXX. in don't don't recall here. look and think you I early then the call, the And gave it. quarter Steve me fiscal third either. heard prepared And I I in seeing year presentation Last Got on into

this you're to So, prepared is not, something that And quarter? not maybe why? if give

our that with Yes. of typically full with with a kind a out last back year, talk we our quarter thing guidance. we Koji, and until did that September kind courtesy XXXX one-time come to this -- of about an was extension as year

cycles it. guidance the one bad and to continue to But next that is to in look and to to around. fact ARR feel time our the give about our that people growth revenue pointed going that's over consistently think way time at we're have our We no, long-term we -- not ARR way our total a over

you. guys Thank for my taking it. question. thanks Got

You bet.

you. Thank

will from question next Kevin Suisse Credit Our McVeigh come of AG.

Your is line open.

current if Great. Thanks X,XXX, to really If I I about client just the the X,XXX relative of right, given John, think so you a the referenced that or to job maybe what you point? much. think within way base base? any it's across terrific I think guess And a about client cloud heard is current specific to environment. that implementations at just about I it, there think it your that about overall of way clients deal existing is percentage pronounced implementations, is is this right not the DealCloud.

Thanks, Kevin.

haven't quoted number. that We

expanding steadily our the throughout DealCloud footprint of are We marketplace.

industry we began from that equity, things quarters one DealCloud in mentioned, with then by And to services capital professional started of couple is the firms. firms. really is be As and we accounting we this private to DealCloud more and happened get consulting of private legal bringing to investment name the it banking we're firm excited that now and requests the the the more past for

excited the each the of connection Deal work other on together this shows they DealCloud. and using see other about teams and types It industry, very that. projects professionals disciplinarily We're how of across

was And thank brand and DealCloud OnePlace a so say the branding for simplify working the our the to that's move us. really decision across little bit, well and market, to you to

sectors one is we're several and there. that excited mouth supporting have, we as word expansion about So growth of this of the the really

terrific. That's And little on that of then it With like linkage Microsoft overall? seems seems with platform for imagine lens your pace optionality which clients way will closer coming ChatGPT bit faster relationship like and ChatGPT, that is implement all acceleration, of any to they kind existing the as better your of the be because within with the just the of accelerate be incremental about it I'd a clearly think the Microsoft? does And closer.

go-to-market, is very Microsoft almost tracks. excited months the track. technology that's is talked One several pursuing We're XX partnership in we're one where One about is now, co-marketing. about about that. overall innovation We've the

really call we this virtual has Azure. one for industry including moving on whole capabilities. our firms choice another for a one the the made cloud taken that provider we on firm up range the of one to of is technologies, reasons, track, of wide up taking security the of the advantage announcements law several Azure, platform including its which capabilities Microsoft the Azure, about on On compliance And technology that firm's, was and this of that's of taken DealCloud are

excited there. what's we're about So happening

applied of of Washington potential range lot the in the ChatGPT in a and Microsoft the the that of opening the intelligence AI technologies, an technology. have of high Redmond, AI. Intapp ended technology, in of who on up excited is had technology, CIOs a areas law particularly some some talked relationship very looking the to lot and we we just wide ChatGPT this about In end the that's and application use AI, ChatGPT from capabilities of of at application largest We with then We've a the firms and terms the type potential model because world platform. we with language other our Applied think applied event were that AI serve that one from market for we're and large actually markets of

lot what the to to take to be advantage So nothing work on do partnership. that to going a to able Microsoft of to we're today, of announce but going

Terrific. It sounds like the you have it horse. right to

So congratulations.

you. moment, And one question. Thank next our for please

from James. question next come Raymond Alex will Our of Sklar

line open. is Your

DealCloud talked Two that Great. on about consolidation questions Thank you. you've brand the tonight.

XX% cross-sell? And existing know clients? one of I a within the those plus help Can John, deal follow-up have XXX those on firms. an AML have then Like how I frame place opportunity your how big intact penetration penetration business just is CRM you development cloud that. you of First, is

Alex. Thanks,

have there. a We opportunity great

to firm. a that's bunch it homegrown, a and had from get of either with needs their CRM meant And that developed some traditional purpose-built firms. unique these technology DealCloud, systems work of traditional a compliance the directly actually combination to standpoint. in-house And entirely for lot to the market use in homegrown we're service horizontal for of to were designed helping you these trying operationally they platform the a for work plus bringing to to of these system both that commercialize these CIOs has or in of as the many solution been just firms, the we know, with As markets, trying

a the question generation market. specifically. to there's across market product They So for older shift DealCloud generally on real enter your CRM are

We a than because CRM also are knowledge firms of to component, they strong expertise serving very a these and manage. need that the pure information broader category

Cloud here issues type CRM But field firms is bring management, there's of supports we broad knowledge the them with management and in, deal that work. when a platform data so wide management other activities And of addition, in it a helping types have. that range and and practice

began. cross-sell there's MXXX. But generally, we start over beginning $X the inside there. over we there's where So to within for We've firms great we fact you continue do relationships That as those a We've top can top many footprints get XX% a was these upsell with and built enormous. if firms if that about grow to clients, the got up is the opportunity opportunity billion footprint, to company our that you we the the think have huge talked say through. of with inside us years. just go We ARR absolutely want market. sell our platform XXX -- of

what CRM the have example So broader category opportunities that lot upsell that's remarks cloud great on to potential deal knowledge and category were examples a and cross-sell appreciate of heard into the into there my that. the and people a of we prepared is help you of

rest Thank with separately, Okay. financial a just there the you. That's looking and has Steve, then about And marketing talk implications quick for then the some XXXX? sales any follow-up Can thinking that shifting how despite benefits on context. change? revenue Thanks. decelerated down great for you're expense sales are of for there. about growth that. support that somewhat And you're of you hiring

Yeah.

about from nice relationship, being start of the now not of granular lot position a have any time, partnership. do a benefits of but will in We look, we're in financial expect we over parts really Microsoft certainly that. As some momentum far the as to

sales as invest as continuing I marketing. sales investment, in we're would back future So talk we'll that Alex, and of and and far in quarters to kind think, thing, come about marketing probably

in are reps particular, doing of here. the the year rate in of same most our growing We for kind that the we've sales been growth

we So sure that different there capture we want we are may growth strong, are pipelines investing. seeing but it. looks We're forward be to a -- make there, our comparison quarter-over-quarter and

Thank Great. you both.

Yeah.

will And from of Securities. our moment, one Thank Tillman please you. Terry question. Truist come question next for next The

line open. Your is

Steve John, congrats Hey, is and -- right. Yeah. per question Maybe David, strong about on XX my customers net clockwork, me if from to results. been plus it's math relates just like new quarter adding first the the

consistently range. Sometimes the ask XXX,XXX-plus you've I KPMG, customers can staying kind seems of net fold, side, move in around bringing the a you the that just of help little do you avenues multiple bit. But like this Microsoft's that new reason see current expansion. as it go-to-market got kind got relates The to on is to it to in international logos got

follow-up lot base? -- Just more logos of the selling there's step taking and to have Thank a then maybe up Steve. you. DealCloud balancing just a installed to trying understand and versus act the it kind a And new of for going forward could I

Yeah. Well, this Terry, too. one, I'll take

I think areas clients steady NRR, be they of a be They clients. you're see in right, will we here there, twin sort be the engines financial existing good right? with new opportunities do both the in and with there in upsell should along areas, but of new logos, Microsoft, add model often will of

expect So there. change to I things don't

continue both have We of to growth sides equation. the on

question. to to it was your took going I it. give Well, Got you John. Okay.

like John's of voice. Steve. more sounds of So the It to kind same Thank That's helpful. you, want I goodness. hear

Okay.

Sorry.

good. That's No, Sorry. that's good.

recent So or just organic are particular uptake What able and goodness about products to turn consolidation you the products, workspace. economic is and the maybe in of terms the because those of play? the emerging on any Maybe, collaborative quantification the to, like one thing you on balances kind more M&A of about time, more is start around oriented same on were of then Billstream John, and of you. vendor kind kind Thank new talking of development dials in acquired those some for logos. some either you, I'm curious

the Thanks, technology, Terry. markets of been uptake with. We success AI the appreciate relationship both example, applied developed organically the good we've that intelligence, having for

come some to that with In to like to Billstream like and addition of a We really workspaces. able been out combined the strategy. acquire we've Intapp technology have products

history So designed development a there's design used working long was that M&A CIOs of stuff with of they market of a have organic on market in-house, for the specifically but the lot the in It of this to we we to clients by technologies key we platform. have the platform, -- it. think we in the of our observe technology augment that our time one marketplace that's can of often that is over strengths integrate and the us platform with the recommended

of set regularly compliance to with perform employee And financial both capital that will the new this of the investment give an We're in banking of walls, be set we're trading for information augment new about risk compliance for very around services, this Labs, with market personal adaptation firms Data capability risk that on acquisition offering compliance the compliance we originally whole excited and of us law very like ethical firms now management set a just conflicts Paragon interest, of and issues terms a is the whole to barriers, everybody and a need business, space, even strong announced obligations got a firms. which employee call, we're bring that private a going to that have in some able richer and We've here. footprint types compliance of of able that to capabilities capabilities to other around management.

be asking continue do with clients example their but bring how modern continue How see also we pursuit that's both business look these the expand to consistent So to compliance to We're you're So for another that do of their I how needs, make to a ideal going to for? the Intapp needs and can as and out platform And us the a are we everybody? system of what closer new to we the that bring firms? bring we that. to and applied help them technology continue grow. operational organic to going opportunities really AI partnership are areas as great the acquisition we purpose-built grow with to think capabilities more for experience for even

Sounds good. Thanks.

Thank will you. Schwartz [Operator Instructions] Our next Oppenheimer. come Brian question of from

open. is line Your

Hi, taking you? you afternoon. the wanted on any back for buy are customers ask John when I question you cadence to this the seeing from coming of to questions a Are business. to the and expansion more changes Steve. my velocity Thank of you John,

but we The we people published that the are to additional groups implementation faster into get an inside or more seeds easier. can sell about usually. the other for you People to the them you cloud. you that, firm Well, back get solutions numbers haven't is additional to firm about excited either to have to opportunity when success much come and happens what

this everybody inside our of the succeed. about question really big lot and about firm strategy bringing part a is really these successfully overall that helps the And our that an a the vendor and story, earlier professionals firm consolidation of compliance framework the like and what firms Intapp we're collaborate capability integrated an is a platform within to them that makes

to going important -- an do forward, of I And transition that. and velocity the continuing part drive for is think the we're so expansion that cloud

in the and margins in And Thank of one is efficiencies the greater to? you. Thank all question a the that I seeing quarter, then, on also the revenue want growth. just lines to lot in know, function COGS you or quarter. the The you. showing upside just business is the margin And expense a for Steve business of is the

internally the sure. lot is got bottom-line, That's were I a both. we've of also we're for example, happening. -- and Yes. are bear bringing about and some we while our fruit. initiatives success for think We've the continues revenue -- they're for Clearly, a start make you'll to group, starting on That's progress, services But really see talked efficiency answer the to which that. to to

execution the forward. I go getting just services of in think, and might normally more of see in is parts other the its efficient next and our P&L terms we as you tighter year, way business,

little Brian. So of it's I bit a both, think,

Thank you.

question. Thank moment you. please next for One our

Parker Lane come question Stifel. from next Our will of

open. is line Your

on in question the you do the it's back midterm year, how here think ARR, XX% next couple that congrats of much of for early profitability, the the I leverage know delivered could and quarter. trade-off a framework And over marketing there. you too and give big how the of there question to the sales last years? actually to sort taking actually be just next to Steve, front cloud between for opportunity Thanks you, wanted guys. in have growth about on particular, guidance I just Hi, of line, go and but

couple business we're good to Well, minimize going next objective trade-off, I we think try years. show if you And the to growth both over -- the can that our that's run of improving will sales I think to here profitability. and

the to, where a internally business, repeat position in now natural given now if sales and good you We're there's looks some of here. will, on execution size lot to the starting of we've the efficient a fronts. leverage gotten growth some to we're And

in forward both better here going the we're of march to over next think sides I going that steadily years. are of couple So

it. Got Understood.

quickly from wondering, of scale on could Paragon, us well Just headcount the of business a a you as that if was perspective sense give revenue? I as

fairly kind us and some strategically both deal than its of then financially. XX Sure. We the contractors though, for an people kind revenue going and and low single-digit It's millions, think forward. it's in includes of small. probably It's less attractive a

and of it, in we'll Intapp business. So how but we're about it's smaller with see leveraging place, a -- going kind to at we and start do excited our relatively working

again. Thanks it. Got

Thank one next you. question. our And moment for

question from come Piper next Our of Ramnani will Sandler. Arvind

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Sure. Thanks, Arvind.

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Perfect. helpful. all, This that’s is Thank you.

This turn to you. to Hall like would closing end remarks. now conference Q&A. I Thank back John the for will

the the us to and look our of forward very we appreciate Okay. with joining work results Well, the thanks for much. speaking and for really company. your again you next on following of to with very call. will much Thanks to each year-end We opportunity support all you, and

participating. call. conference today's concludes This you all Thank for

a now and have pleasant may You disconnect, day.