Intapp shares tumble 9% on weak second quarter guidance

Investing.com -- Intapp Inc (NASDAQ: INTA) reported first quarter results that exceeded analyst expectations, but shares fell 9.2% in after-hours trading Tuesday following disappointing guidance for the second quarter.

The company posted adjusted earnings per share of $0.44 for the first quarter ended September 30, beating the analyst consensus of $0.40 by $0.04. Revenue reached $161.3 million, up 16% YoY and above the $159.18 million estimate. Subscription revenue climbed 29% YoY to $125.5 million, while cloud annual recurring revenue grew 28% YoY to $515.3 million.

However, Intapp's second quarter guidance fell short of expectations. The company forecasts adjusted EPS of $0.37 to $0.39, with a midpoint of $0.38 below the $0.40 consensus. Second quarter revenue is expected between $158.8 million and $159.8 million, with the $159.3 million midpoint trailing the $160.9 million estimate.

For the full fiscal year 2027, Intapp projects adjusted EPS of $1.64 to $1.68, with the $1.66 midpoint slightly above the $1.60 consensus. Full-year revenue guidance of $658.2 million to $662.2 million has a midpoint of $660.2 million, essentially in line with the $659.1 million estimate.

"Professional firms need AI that's governed, grounded in their own data, and built to run the business of the firm," said John Hall, Chairman and CEO of Intapp. "The response from the world's leading firms has been remarkable."

The company reported a trailing twelve months' cloud net revenue retention rate of 123% as of September 30, 2026. Intapp served more than 1,400 clients with contracts greater than $50,000 of ARR, including 908 clients with contracts exceeding $100,000 of ARR.

Adjusted operating income for the first quarter was $35.4 million, compared to $20.9 million in the prior year period. The company generated $28.4 million in operating cash flow and repurchased 0.6 million shares for $25.0 million during the quarter.

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