Intapp (INTA) 13 Aug 242024 Q4 Earnings call transcript

Thank you for standing by, and welcome to Intapp's Fiscal Fourth Quarter and Year-End 2024 Financial Results Webcast. [Operator Instructions] I would now like to turn the call over to David Trone, Senior Vice President, Investor Relations. Please go ahead.

Thank you. Welcome to Intapp's fiscal fourth quarter and year-end 2024 financial results.

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

the we full and conference statements those this date provided for our risks expectations course such difficult current may certain revise first could to guidance results forward-looking predict our cause During assumptions forward-looking forward-looking quarter statements margin, today's forward-looking in expenses, per from any certain to disclaims actual documents also fiscal make aid including those based and today's non-GAAP we business, any views on diluted call, except free and of the various including to metrics share law. gross non-GAAP update believe and regarding Further including XXXX. These anticipated available earnings materially by and of the that we entail strategies our obligation cash as performance understanding implied in call, non-GAAP operating year of results, income, required filings trends, and management's to of flow. will or SEC non-GAAP subject non-GAAP on discuss and as differ are publicly our statements. Intapp statements, operating by and described uncertainties, made are expressed or other are financial that

figures will growth today discuss we financial are for our of remaining total and revenue all performance revenue except reminder, and a obligations. As non-GAAP,

to which hand with or on furnished website. With is and is this available over call found Our financial presentation, I'll supplemental which its an today's exhibit our a to and GAAP the X-K non-GAAP website conversation earnings John. that, supplemental the GAAP our to financial to available measures financial results, financial in as the SEC can be with along of reconciliations tables, Form on release prior

our our results share of across We that fiscal set everyone. capabilities expanded and we a footprint. We existing strong for released markets, we of ARR Cloud XXXX. including to and acquisitions. to you added year full generative expanded with of and share with accounts partner specialized fourth pleased of ecosystem new year-over-year. to our fiscal AI Good consistently our via our this international be performance Thank upsell needs I'll continue business, impacted wins R&D designed joining strategic with growth these the of quarter for I'm David. growth logos, to grew you, partnership strategic share our we the our to new capability had how and here portfolio another throughout with afternoon, and And call. on results evolve Microsoft. related drivers great Thank each cross-sell you pleased significant details and us. We're deepened product through year the target XX%

XX% year-over-year. noted earlier, SaaS year-over-year our million, of As of ARR now million, in ARR earned Cloud support $XX I grew we of year-over-year $XXX and represents up XX% up $XXX Cloud our revenue the quarter, XX% QX, million. In of total million. XX% to revenue and $XXX total

third XXXX million, enterprise this large increase execution have ARR position investment to with addressable year-over-year we Notably, an we $X year driven continue sustained platform, competitive our of strong now in and flow fiscal AI strategy vertical Additionally, more uptick banking XX was that free growth and cash applied profitability this a than We strong our number in accounts deals with of confidence optimism our SaaS large and market. in and this year. foundation increase And enter fiscal XX%. fourth are for by partially quarters. a and

XXXX. Intapp's which growth continued fiscal innovation, to drive 'XX. from highlights I'll some share in start our product I'll fiscal Now year with

needs we 'XX, to by and professionals' applications of and our of applied workflows our AI Assist Intapp applied Goodbody; where fiscal portfolio we AI meeting unique advancements Intapp's deal, for for year, everyday effective to shared, integrates AI understanding AI our save Intelligent of of true company this roadmap, DealCloud which made time including into generating serve. the previously already consecutive the summaries set same Realty is and firm The adopted and As we most for Enventure. deep in high-value at I the The capability quarter U.S. firm is law outreach. that for professionals clients. With of in including for firms the capabilities Cloud personalized targeted been designed are clients, Advisors robust private our each investment and released outcomes the creating has our the creating equity markets relationship specifically by team A&L

We Intapp Copilot. Walls launched for also

AI new of to a this. in the In as also it brings market, oversharing areas vulnerable sensitive many firms it generative exciting information. market, As is of risk so are our with particularly

in users. Other is that offering without to teams new business. Their factor AW their security designed the our announced using requirements market faces. key the its the security our Data, behaviors million with platform's roll Intapp win for firm professionals equity-focused purchase competitive providing was internal Private to a a DealCloud to managing Walls available Activator it the edge of and adopt client we and of able oversharing and CIO recently Intapp features as business XX would is what to our help Our infused to contacts SharePoint have that AI them us not and an uniquely out been decision Microsoft than takes augments professionals core consulting in and DealCloud. selected to markets in at giving that could firms confidentiality an of habits million more tuned growing and Copilot behaviors, intelligence XXX functionality like and XX their clients law we data us business firm the which signals. Recently, Accordion DealCloud with experience, we firm's financial to told oversharing help on capability and policies market the risk risk in relationships rolls way confidentiality DealCloud's AI-powered AI out be Law Activator successful we've core with end include information facilitate CEO all address understanding unauthorized knowing new this a to told Intapp's companies development and helps

AI strategy and is deepen especially Our helping to Applied winning firms. client confidence, larger among

of the road the Assist of strength and applied global map. one legacy of Intapp of replace In banking support selected fact, financial of aggressive to based value CRM groups part investment our a services their near-term arm the DealCloud in recognize was goals. including financial product Their on the and strategy decision to set AI largest

in blueprints. industry strategy, incorporates built-in a solutions configurations markets to our for continue via pre-populated also industry various practices serve which enable to dozen to We we close best invest the

corporate rates services for trade, accelerated businesses strategy chose development. firm our our QX, industry Our In blueprint In industry and Blueprint DealCloud our Stockholm-based gaining blueprint Rhone in preconfigured deployments specifically that our Group traction. across advisory is QX, leverage and Storskogen, demonstrate firms. market a consulting adoption firm group Transatlantic global for of chose international middle consulting to blueprint. And chose private QX, equity a

the but M&A on continue to like innovation, our I'd on focus Now conversation activity.

our Data groundwork Transform models. optimize lay to year TDI's is we'll further and our data, collected, successful helping that May, professionals I'll 'XX, Microsoft markets. And offering rich Intapp clients' technology our step more across information technology our provenance. with the opportunities for to We and points deals of our Delphai, than more enterprise further progress enriching like combination announced Plans a facilitate integrated long cutting-edge of already we solutions been tools acquisition, value also the firmographic On within strategy that and continue and ensure data the TDI's time highly better firms made more training important partner more the equip with organization firms now AI derive investments. in a expertise of implements with capability fiscal helping second to in-house builds augments acquisition applications companies, fiscal to since to AI that Intapp ecosystem. solutions our and we applications. Together, data to team our our half to During significant AI Intapp strengthening public capabilities help throughout structured our Microsoft February, turn into while forward Intapp's and collaboration for domain acquisition. cloud acquisition collaboration our In million International, AI applies has is search a will presented we note, data of year. that portfolio XX verticalized critical through to work our advanced already deals their opportunities for Delphai-driven influence and We've ability add from Copilot. AI the creating on talent. The This integrate for collaboration proprietary believe productive that are partner acquired

platform Center Collaboration growth. Having into separately network Collaboration to support KPMG's KPMG further notable and the partnership internally how firm's Solutions the of KPMG. of Microsoft's partner, purchase their One Solutions to Azure at in growth initiative, Intapp comprehensive an Solution benefit we marketplace. strategic they now support their strategic exemplifies example complex and KPMG, the is is have completed prestigious to marketplace. Intapp through chosen global available interest QX the and team solutions most Azure world's the for Intapp an for to Microsoft business. garner together with engagement-centric its and field well needs unlocking partnership potential global tied helped from further support from Collaboration Our positioned Microsoft additional This seller This Microsoft our continues firms transforming and of accelerate meeting implement of Microsoft's on the the field. firms. Intapp Command Intapp-Microsoft the XXX the KPMG sales work solution incentives to And across Copilot. Microsoft is on Microsoft has us professionals our rollout will marketplace

partnership for and in specific to partners. Notably, five QX, their platform. added in deliver and continue we QX, will a XXX grow. data, alternative and managers with who Investments, partnerships, asset cycle offerings partner life We through our DealCloud to help technology Additionally, us management with investor services in Bite value an us fundraising announced bringing ecosystem new integration

key I'll now Okay, deals. to turn

the We base in X,XXX new than ended of upsell serving logos premier steadily and a year continue cross-sell, the added QX. more grow firms share acquisition large our of our to client verticals. the just new target including to across we clients. few happy enterprise through I'm We logos,

First, incoming recognized business. DealCloud large the platform management advisory private a a advisory independent capital strategic chose for firm's a to and fundraising at decisions level informs firm selected the deal to DealCloud replace that need legacy its manage global investment banking COO CRM. Their and

also customization, of still which years Next, replace had players existing its private despite adoption. one the CRM, DealCloud chose to space poor largest in of credit the legacy

Next, markets. new we international added clients in

administrative a the Mutual reduce of India's increase one of because they one billing. burden streamline to XX fit systems disparate firm Intake firms of chose to route manual selected Trilegal, lowest and Intapp to of quickest And and First, investment law top and managers, value Alternative accelerate the offers private implementation regulations. to it across leading chose better best U.S. Intapp believe Old improve and understand conflicts its largest Investments, their professionals, risk. And Conflicts Time processes DealCloud accuracy accounting Africa's interest, PCAOB adherence

and success our net continued cross-selling retention. to existing in upselling revenue Additionally, drive strong clients to QX,

applied Some helping firm an our selected Conflicts, better leveraging its empower firm's them platform. XXX our solutions, on leverage its The the Law relationships. They management the will set Terms and client path for currently is to as relationship DealCloud law AI Wall DealCloud growth. AI examples; firm using professionals to First, to also AM see strategy believes also

policies. Argonaut of Private employee to Compliance firm's Employee monitor, ethics and manage and the client, code Intapp DealCloud conflicts Equity, adherence to interest of selected Next, identify

the to their arm Collaboration largest significantly of tax the of professionals. they and world's modernize accounting expanded the management of as legal experience European Next, seek licenses document one our firms Solution for

larger largest another we groups uplift hundreds counts world's healthy of firms increasing firms equity seats accounting also our to added clients work arm legal practice UK license clients. a serve better streams to DealCloud work of the expand as Next, saw And deal of among geographies. as they and flow modernize their and private the their

continued conclusion, in firm in For of we're AM XX QX, in year we're expanded top and as for proud firm, 'XX, XXX grew performance an capacity a across In well-positioned fiscal 'XX. Law of strong counts each all their our year fiscal Solutions. lawyer example, growth and Intapp

applied to TAM durable end both differentiated Intelligent see significantly our deeply a with serving add clients AI AI broad expand are our within platform, continued and We new our and Cloud vertical existing base. We to market our across strategy. approach client a opportunity,

digitalization and opportunity this valuable across drive growth AI end vertical great and We a have cloud to unique adoption and market. highly

a Intapp like dedication board and Thank our much. led global I'd our team all teamwork to clients, our year. very investors, to our always, such As thank whose our and partners, successful you

our now I'll David to Morton. CFO, Okay, things turn over

today. and thanks, growth, and strong across significant capped to everyone, pleased Cloud operational ARR markets a John, off for us Thanks, our profitability. geographies share fourth and all execution and for quarter with our report performance, with I and multiple fiscal XXXX wallet new resilient consistent These joining year clients, growth wins results enhancing largest position increased logo scale us to which levers efficiency am of while beyond. underscore

be and better separately our to our support upselling clients was new sales of cross-selling reported motions. and new expansion this sales to highlight revenue will on-premise up clients $XX and activities. trajectory sales with results. SaaS SaaS net XX% and begin growth support year-over-year, both Let's from QX Beginning from revenue existing quarter, million, reflecting

$XX.X and XX% revenue up our $XXX.X reflecting For our we new services revenue. Professional to license have Total as satisfaction. clients license acquisitions, and cloud to to an least the large XX% decrease year-over-year, of services that and was primarily them the sales XX% million, client strategy revenue revenue cloud multiyear cloud. Subscription $XX.X to of opting at client by by on-premise customer revenue driven deemphasize X% subscription driven $XX.X up renewals year-over-year, cloud. of contract our was With fiscal the a one QX, largely one on-premise marking of million, due said, on was XX% million, module. focus year-over-year growth for expansions million, up year-over-year, migration revenue solutions was SaaS navigate products

utilization robust, revenue growth QX. approximately the total beyond of Revenue Our to our continues fiscal the for to international business present remained opportunity accounting from operations in platform a of U.S. and our expand generated invest for XX% international

continues motion to gain co-sell partner Our traction.

University technology five partner us another skill our Intapp development to launched partnerships and products knowledge We XXX their bringing to service we added and the This have Partner quarter, data, partners. implementation. and past our around strengthen

to cycle SaaS excited Walls vertical quarter. our model. more AI an our new co-selling We net see place many client in our new particularly ACV strategically and of and in X% offerings Copilot taking for are sales of in increase motions Intapp's partners earlier contributed with approximately life this assist

invest look generation gross compared million fiscal and prospects the XX.X% very were still as our in we and our operating the margin period. Non-GAAP as was provisioning, in to excited prior support expenses continue forward go-to-market rollout, are year-over-year increase early to year While non-GAAP $XX.X XXXX. XX.X% product product development it client million, pipeline to $XX.X about is to we as QX in growth. we a

as the period. in our operations XX% to EPS was from cash year continue with income as operating $XX.X XXXX our million exited the revenue. We equivalents. $X.XX the for prior flow quarter fourth focus we to on cash $XX.X or the As capital efficiency, fiscal Free operational $X million of compared is quarter Non-GAAP of $X.XX cash quarter non-GAAP diluted the in compared period. total which in was of to flow, prior less $XXX.X cash was million as million defined year and expenditures, fourth

XXX previous clients. up $X we ARR Among of year. from XXX our in clients with to land previous our in up at year-over-year. Turning model, X,XXX XXXX, total the committed and of At XX% were least at we of over fiscal up remaining remain XX% $XXX,XXX, was year-over-year. ARR Cloud to concluding metrics; up year-over-year, ARR million, fiscal year. from ARR the those, performance the the $XXX.X end key executing Total with Overall, was least up obligations XX million, and had expand year XX% XX had

underscores revenue retain our XXX% our customers. expand retention within net which business was steadily Our to metric continues XXX%, key ability rate with and our range track XXX%. to existing This of to

Our was Cloud 'XX QX in FY NRR XXX%.

contracts XX% $XXX up fiscal SaaS from our revenue SaaS million, largely migration to in several an due growth products clients opting large on-premise XX% was million, of expansion Moving fiscal our sales existing was revenue. XX% in and $XXX.X up XXXX, of results to cloud. Subscription from up in reflecting $XX $XX.X renewals. multiyear to from driven revenue on-premise for revenue XXXX, support SaaS and to the for fiscal full new million million, was XXXX, year by $XXX.X license million clients, fiscal XXXX;

year. fiscal significant We X% million The up have clients period. Non-GAAP compared XXXX our reached million, ongoing was and made enhance growth. in in year-over-year to prior fiscal in was flow $X.XX an a through as to margin XX% drive the to expenditures, cloud expenses gross we from Non-GAAP time Professional of services revenue expedited or as $XX.X year. $XX.X diluted our further $XX.X from as revenue the operations reflecting of which contributes XXXX. in prior operating realizing progress in for industry a success EPS XX.X% clients capital $XXX.X $X.XX value working cash was our efficiency coming total XXXX as process. proactively is the million cash to transition million, year was operational defined with increase less XX% for fiscal solutions implementation compared Free quicker flow, XX.X% revenue. Non-GAAP for to offering

outlook; of million. quarter revenue SaaS fiscal between expect the Now first $XX.X for 'XX, we $XX.X of to turning million our and

share diluted common count range of million. $XX million shares XX in to non-GAAP using to approximately of these outstanding. million; in of million provided quarter between year-over-year implied also results of and of income the and between and metrics, million $XX.X are the weighted $XX.X the As SaaS operating Non-GAAP EPS to outlook million a newly million XX%. and revenue outlook $XX $XXX.X revenue $X.XX total we growth of revenue XX% $X.XX and the $XXX.X for are range providing support

the expect range growth year year-over-year and we revenue full between total and and revenue of million between of $XXX outlook $XXX.X of the revenue XX% million revenue are SaaS to we between and the support million 'XX, $XXX.X $XXX.X outlook newly $XXX million. Again, as $XXX.X in of providing metrics, these are fiscal and For also provided SaaS XX%. million million. implied

expect outstanding. Thank income $X.XX diluted to range We range $X.XX fiscal be back for weighted non-GAAP of a non-GAAP turn and operator. in call count $XX.X million in now I common EPS XX $XX.X and to shares the of of the to share to also using million the approximately you the operating 'XX year million will

first [Operator McVeigh the from Kevin line Instructions] comes of question UBS. Our of

And point like results to client a maybe Great. congratulations. a work understand the reconciling really multiple professional good lot Really, are done John, because the the with and that getting starting be just seems part is This sizes. that's I here. it guess, to trying Like the question, services clients clearly KPMG being with side? maybe might like larger. on but that larger by implementation dynamic

doing dimensionalize way And with kind KPMG less of professional that? ] is from there [ You're Microsoft services. that to comes that kind the just or of is leverage any

growing at business all Thanks, large is Kevin. certainly The the in firms. sizes

absolute to us. We will, leverage, it's also because of our at as are some we in excellent intentional. but KPMG we're the absolutely we getting meaningful larger, it's particularly ourselves, Services that's clients for a end. business. It's the numbers, slower are Professional yes, partner an grow continuing And pace, always large is at growing serving but

going need quarter to grown heard consistently strong ecosystem mentioned, demand. we get bigger, our a we're also to because services serve ecosystem all we've you as know As each we the Dave

tech time? and about that. partners. data follow you've ecosystem heard with And sounds it with that the right, what that become much I Helpful. revenue way just you platform can over like associated think Any and how to got today on up XXX was to If

it's had mute. Dave. Kevin, on Apologies. it I

technology is detail disclosure gone service kind of as that We service that even been into bringing the the they've these at level. making both partners haven't time of to that sale, the back original the calls, as as a co-sell at our across those necessarily partners we that with or also data, lot blueprints depths we're a board. then more beneficial that seeing as end in professional well growing. But and where are well to respect And previous from value talked with

And the strategy time which long-term been until up value and the set, to so translates also have on with with not all the customer right implementation, that. but our things into only obviously,

Alexei Our of Gogolev next the J.P. question comes Morgan. from line of

in first longer where number Kanner This My that XQ in Alexei is year is for the see term? XX% driving And appears fiscal 'XX. of increase? What's line Elyse it you do share for the and support SaaS growing is Gogolev. on that XX% SaaS the that to question from

will design. it's is our This to Yeah, the which continuation, we over XX% longer vis-a-vis And SaaS go model, to orientation, purposeful if Dave. that believe I even is mean, right? term facilitated you by be

we new as in cloud so only our the And so increase cloud, that to number as will are and and continue on-prem continue native our all we accordingly. continue specifically land cloud products as the not transition our have of into as expand well to

-- guys the and ends our And then you're in in which you last elaborate XXXX terms beyond total company you for of on it. what to only expect June? just revenue the provided follow-up, for fiscal of have growth second first what the bit for you outlook XXXX. their a of Can Got estimates more that the universe half June my year, half in

full done well Yeah, as of all as as year we what fiscal across years is our as previous well dimensions, in FQX, right, a previous provided which 'XX we've experience. for guide traditional

question Koji Bank Next of line Ikeda from comes of America. the of

and good expectations services? are I half. had services back you about financial guys that Can thinking wanted some in that from remarks services the that, good hear a embedded to is how More into It the you financial two you like the demand there core guidance. the pretty XXXX a in continue the assumptions into verticals, of sounds specifically, mean Okay. financial ask I Yeah. between environment me demand are momentum question prepared XXXX? about okay? services professional

in have half. mentioned a I color did second on good results that. little specifically. investment do banks We some the I can

in on those deals, able and course, QX were those all what mentioned you was happen, we but QX large recall, As of we both encouraging for we we report, did. something us and that thought in it were which some and in, the QX, working to would bring

at think fundamental by behind them now, they the that to. I the as need and industries the market had support adopted because because had end have level and solution we've are understands and they limited in curve. They broadly a our haven't vertical-specific generally, good of digitalization really from been data other model They've many the their they in haven't cloud does. way a that their platform process model as

even And with so for vertical to are. on fits we we're digitalization Intapp modern to capability just additional some and vertical of solution And what really capabilities bringing the of that underlying a have a expanding cloud about continue. each set roadmap have an their quarter. We AI Assist now yesterday did platform, them our we announcement needs that AI more capabilities

continue many bootstrapped go good answer is firms to any So these real relatively bad. We we serving I by this I for and in times money resilient top to them. because didn't these demand got doing raise external firms have company things good strong the the and of the being there's to digitalization underlying for we've benefited paid years, from think that, On through think for industry curve.

things then investment population resilient in that be it's to good we segment And banks more macro might our a there's then one think a if but little a said, saw of if here probably themselves, we a pick. so just that, economy, also bit of and as also saw sensitive is nice the And we vertical recovery. the I vertical you market evolve markets very there's a like this

that bit a gave to but you for a I up, and given last question year's about SaaS you've both where guidance, I little total the And ended where guidance so here it than at kind the year today embedded look a and in follow-up guide. and look guidance now. Trying thinking time revenue started revenue. you've at support about on Mr. of really how the it been fiscal is guidance this potential end about Morton Got way that there the thinking how it. of Is for longer be should you're could maybe up that 'XX. first to about? wanted understanding I just was understand other revenue second And upside or the is think thinking a year gave where to kind you you're guidance, any considerations ask of we the about Last methodology. here. time, right

So this been consistently it our has guides, with whether annual. company quarter prudent to or respect current very fits

So just SaaS providing further that [ The here really ] visibility thus that methodology hasn't only itself. is thing changing is on the changed. line

the subscription forward. As we as and pace the all on-prem this proactively know and continue is more only into methodology to more some and going fiscal acknowledge moving in enter we've we -- from probably in to change had revenue of mix time 'XX the cloud SaaS, this

And conversations. take from these I would so what that's

Enders of comes line next Our of question from the Steve Citi.

start bit seeing the I AI maybe solid great. want early side to just in you're guess a dig and more on little I the that Okay, to success there.

$X in think I ARR. it's million about

a math kind to guess, in with to which way So up this of there for about like contribution beginning build products most we number? embedding year? is of the into I you're here, think doing secondarily, if my But that here. to portfolio AI think what the the I guess And help I'm annual from traction right outlook guide the as do you're kind about see

have adopters that to launched really regard. That places in the what offerings the have being business already. new last very called make to expect where figure the will the through applications the normal AI the that the we We're progress will you know We go these is. across intrinsic talked process believers firms the cycle broader made to first product on value February that really offerings this teams sort of figure said, [ call the that new life excited Steve. difference about that Thanks do market company the going early to had and ], the we all interests of applications the can in to experience get we up that out professionals, will lot the is vertical scale market, the there's you in parts vertical that know We've and are in talk that think and population, ], the be And in where from the traction is in that out these you [ is this then many different where with ] business we've folks. called grown times there. since creation references [ and different of services get and user a platform really don't we're a AI economy the of

the client? directly Assist Intapp we've that. It's of looking and designed our in business processes for so The advantage clients, looking for because specific example it Assist are it's a And we my out valuable their they about world the AI the for what project? that. solutions professionals. applications by on strategy one very question the terms what types the client, the partners professionals rules but announcement the this. really allowed these a that on clients been to making have do It that I'm and -- How at a the hey, value-creating that people others bringing we that industry firms real recognizable for is engage and at mistakes this a common blueprints know of clients take I'm firms of better to the this look are can user obligations that and is made hand in ask serving have of ways way helps it's of and instantly job clients, personas doing? We're and this into our better with kind to in you what allowed What made for I them, perfect when not yesterday specific I and around working the whole helping developed Intapp do promises put system, the charge people specific feels what if that little

AI inside example across wide one the Assist So the specific that's strategy. just vertical of portfolio applications Intapp

oh, can that can with. rest February of And have really our people AI it there. that from roll so already. philosophy in the we that's platform. market then talked us we encouraged roadmap the I'm that are the And And have by a who whole positive very something we're about we folks in the understand you us saying, the response we And bring through to do and a set getting

Okay. this then the 'XX? Great And contribution does it impact. that we'll think to guess an yeah, fiscal on it's But see like actual maybe model through to contribution I for like actual beginning just come then hear. for should about have the we how since year seem

point We assume at in very minimal contribution time. this

very, but in do revenue stages, still John had said, As we out there have very early today. SKUs we're

lot of of our so a to a back pipe an that's And part of move-in okay, live broader conversation client from, It's cloud. And elongated AI conversations interest, gets kind base, it got the having application even usage. even real meaning folks in now pre-COVID, post-COVID, the and we generation, of we're and broader of lot a of halo effect, conversation part declaration And that stated. also points. funnel

waterfall be this you adoption. And those rate huge very trying pace would could of just see where over so fiscal is a to it's one something that of difficult year. time that But of

And a so kept kind it FY of as that's into impact why 'XX. heading we've minimal

of of from James. Alex Sklar Our comes next the line question Raymond

Great. John, one for first you.

of you hiring terms as leverage you're and demand out given in marketing what like I'm of into sounded relative sounded lot thinking going particularly to XXXX line what outlook fiscal and sales international go-to-market 'XX a growing a just the Just how progressed. within new an investments improving got curious about of like sales the opportunity? backdrop,

Thanks, Alex.

the company. a There areas. making investments still large International one in is to of of continuing we're TAM into, them. is invest in the capability sell definitely to growing are many and sales marketing and We

me some we're very excited you heard of clients, that the As places winning explain which we're about.

better we're understood start as think leverage as the there is and continue going references AI grow vertical go-to-market and industry self-referencing thesis model get becomes should So cloud, I build scales that this the as to group. That a market. strong business vertical that brand inside being the very to said, to the

should leverage while at get be some that So the able the there same model part it's of we growing to time.

deals to Dave, to your SaaS kind decision out outlook up flag follow-up the Koji's color. And on is maybe question great just of away the of coming you. terms else of activity anything support expectations from kind this anything license from changing and the there in split of in a SaaS versus on just outlook? or a multiyear for migration year or terms change Is support. for this behind following move Okay, in

correct mean today at by transition But able are No, are elongated But convert these XX we're little that as little progress. nothing I we'll of time a this material ones. them point get is declare have that getting in difficult flight X a there and the more quarter specific when that we overall months. clients underway, upwards several the to date with se. per in making multiple pending to

And to want then from as put prudent professional provide point just a to over is, SaaS services us and guidance SaaS support conversely the so traditional that the wouldn't skis well. we and

of ARR the narrate total well why that's declaration as durability our of growth. projection longer-term well we've revenue a well through so started this as ARR as our And business Cloud for our as our to continue and as

question next line Truist from of Terry Our Tillman the comes Securities. of

of there Hey appreciate okay? Yes. also So see all Dave congrats to that. great and David. I me the from and you SaaS, Could me first, really breakout hear John,

in and little The then ARR there then first long-winded The a an Q-over-Q, ARR. had is of relates question a we bit a improvement Cloud is net question, -- question a if I follow-up. to and look at long-winded trend

upward potentially seems innovation. It You're NRR new or on movement, all be on pressure sitting like should could there those upward say. some I

then in And purposefully go-to-market to FY I even you 'XX And so are had out follow-up. those that? drive the to add-ons different doing color on really a more installed back any anything base? And

beginning enterprise that about Terry. firms logo up cross fiscal Thanks, segment. group new in 'XX, and a talked specifically size results at the and in good setting acquisition for upsell sell we We the both within there, some saw of think I

done make of sure suppliers there KPMG a product as that series whole needs. on with broader months like did security ecosystem whole We a XX or over the so investment things some also with capabilities, the requirements the support, meet we that get us bigger. And the to help we Snowflake had about past to R&D some talked we've capabilities could from Azure we meet story full there's

our $X very if look largest of you cross-sell that over and million ARR excited that of upsell the upsell the we a in XX just about, firms have. it already of what expanded statistic, think statistics like which you we we're if there's shared So top market segment so at firms happening and that I about would where We've activity. some cross-sell can some see look inside much

So to $X we could get billion doing that. just

smaller that doing absolutely being also now and the similar the I we're firms -- upsell So midsized and opportunity in said, think cross-sell ones. that even

we're offering So a we reflects that breadth very NRR the to it our how much numbers we and of clients, have think but the also Intelligent I of, to contributor be consistent these to bring proud will the think Cloud back growth.

And just follow-up That's a great. question.

you firms. software, You're partners think, think last professional six couple services of and there's in added? they're kinds quarters, like, added stripes. the up I do you to different know there's of What you've example, size all actually quarter, for XXX are data, There's them to are servicing of this five What new beyond seeing What get terms five you motion driving seeing opportunities with your ones. you that? just in new all they're you expanded from quarter, a customers? starting where last for I

year-over-year. increasing been That's

We several result. the reflection as latest program mature track of board just one university, on that ways a to better ] you investment. and the [ if different motion about to the that talked our and folks and give coming of continue partner will, in We that's across a have we talk

-- as ]. specifically motions pipe funnel [ to and our so drive to to gen continue appropriately moderate continue go-to-market And within this we'll as our well with results with

question Lane comes the of Parker Our line Stifel. from of next

Matthew for calling you that. of to maybe This quarter. vertical to have Congrats anything broadly, last a the on the leverage on the more expansion for of go-to-market some very And been walk nice AI that This quarter? next some guide contributing contributing margin and may through Kikkert incremental year. efficiencies operating is Parker. mentioned XXXX But could you motion from

believe still a So to opportunities From there drive I continue cost. productivity perspective, we'll in there's an absolute our that leverage from model.

If stage within there's a and But you some reflect gross G&A, just you our on from where previous back go February there. appropriateness as our think XX, opportunities Investor even slides from and margin and if of Day we're there in were about marketing at specifically well. sales opportunity also

think those to we're true, hold just we still And about 'XX cost continuing so as those and FY beyond. and operationalize respective opportunities

new are sense. expect about you the impact split then customers to And expansions net how the Makes you Okay. going how and back 'XX And the guidance, migrations of Cloud versus ARR? ARR do total thinking year? versus to trends next that

total and been XX%-XX%, new, the upsell respect outside flex I manner, the in and then lands track cadence from to more we've cross-sell, we've of quarter, and about [ that of and contribution rate happened from migration, those the XX% logo. about really our ARR think in more on being continue And a XX% what see that a pace obviously, quarter just those would in absolute to our haven't clients migrations upwards it's think I down of can some and you'll duration to a of them XX% we've from work cloud experienced the back if net upsell and size to those to depending you we ]. new and But But Cloud get expect With continued to had cloud. seen meaningful the migrations, a then cloud cross-sell. ARR. net of key through half the targeted when and in year

of BTIG. of next comes the Our question from VanVliet line Matt

you of circle back being on revenue sort made now I comment some earlier SKUs. the the to applied functionality AI about wanted of

to time, that's envision already other being charging kind of is functionality What more kind guess, you as today do give of using two-part over directly? current modules how of available cross-sell functionality the some it them So these upsell, value? or here. -- mix an of And I what either monetized within directly

Thanks, Matt.

we're So extended out the applied functionality Intelligent an whole of across AI Cloud set bringing platform.

February. DealCloud. AI and started AI is for brand within vertical We our Intapp platform applied offering, out applied that We map road the for AI, AI, of different the generation in That's announced features generative over time. solutions with Assist our to a have for monetized. bring that name We

our all prepared announced of to That some and the new DealCloud buy is run the the the remarks. a existing as for we talked rest Data, platform. a an itself charge on. we Intapp have offering bit with SKU; the So in have the to see lot embedded to about roll which help clients a you'll for of data a same also out of clients Intapp we we better opportunity that. And like that that model in clients foundation across capabilities little can AI a price Assist parallel, In for platform

might and So or specific end market. increase. in the becoming is case, in annual They the more the value more and that we're And overall. price you of more the say embedded see value price purpose-built for in differentiating that

number risk the drive to world Data how drive our improve has professionals the So the the to partner requested capability whole market efficiency, been capability The back we're to we and the compliance, using really satisfaction, over monetize quoted has even profitability considered value the how we're different going people approaches launch. strategically years, around for that Intapp had And from incredible similarly, the Intapp leading But because reaction to our a this. that these X things was we've tremendous. and for in been Copilot, back revenue, there, clients. And past one satisfaction. looking that firm I about to have Walls response side, for of to of this been coming drive our what do the coming Intapp in get for about stories having generative team conversation from script strengthening on has are in then AI really the huge competitive user for in very bunch excited areas doing we're And fantastic done. and the huge the Assist a market stories value what a up and

advantage them [indiscernible] there I and people the the a the purpose-built end and so them take differentiation, are users are markets going And going feel story this like think very increasingly central era. helping for into we who of to these is help our AI specific story generative

the that Difficulty] And partners versus XXX focusing on What then at the you're part and ones the look value in there ecosystem? you we of about already of are have So as sort helpful. should those and early committed that over big at Very partner of really a time? you have ecosystem, sort appropriate a driving additional good pace for think focusing now. the growing Okay. the [Technical of is of number how versus

client-driven of value a of meaningful had can one culture create the at the client for that business lot driven. beginning, it a is from we We've partners. think I always and look our the places clients we together with

joining that whole a people the us the typically beginning firm. really the with stories help have us, solution build are can see who go You'll to we them for because somebody been client to more from as they've referred us

It is opportunity marketplace. to So as it partner a move pay that's this purpose-built There's to a of underserved for the with interesting. are we cloud market. lot It to lot increasingly of now companies viewed platform because the us to space. for a going very is rich we're

for. and So a grateful partner about the which of community, we interest have excited we're very inbound lot from

works building sure we conscious a make together. And want that side. those folks relationship that we the with make really and build we with our a ecosystem sure we also are which want of We pretty go invest client make successful up for them do grow because to rich that to with to partnership we're clients

economy see in and signs and you really And a and the a growth were value leader overall the shows coming that's public, you'll to in everybody integrate It's the you going, to of the really to is the we strategy the things It of to the that get we of industry when one you. ecosystem a that opportunity with you marketplace. part marketplace grow ecosystem the start think accrues the as said leverage the pace one that scale. core consistent it's company discover of I have there. have to the get position in as rich wants we our So

that's very about how we're So going. excited

Oppenheimer Company. & Our next Brian from Schwartz question of comes

what deals. activity This John, in of Clearly, the to your wanted is on sales the you're second Brian in seeing bigger up did fiscal of has macro I picked you the ask Schwartz from your and terms year half not. Oppenheimer. cycles

in cycles you are of seeing just seasonality? or a have terms execution then or improvement good follow-up So I any David. And the for

that. to had sales all Brian. and and period. I Yeah. improve in see metrics very carefully, this QX We pretty watch signs cycles those good bit. little was us we Yes, Thanks, actually, the for a QX some did excited

just Good. wanted components about of then the question, to expansion I the you activities. ask NRR, And the the follow-up David,

meeting activity terms your cross-selling, the your plan? there. from the headcount upselling your strong expectations of you that customers? the Is from clearly, into as in you is seeing Specifically, are What in commentary, came got pricing the you've growth

headcount times, just opportunity at Yeah, an of artifact is us. ahead total the of

And top room than that so our even expand. more then, I February, ever even noted that now. was with in and much back clients, XXX to largest as our so we've And I believe believe ARR, more there still

or to because that very, been for very today. limited opportunity so And not we haven't cross-sell, And us still enough headcount to or narrative. continue true of that for out gapped of is anything us go upsell,

value Difficulty] [Technical rates and consumption time high CSAT, and those across which finding an the our we're high to so usage So is clients, ever-improving that's.

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

disconnect. now may You