Intapp Falls 9.2% After Second-Quarter Revenue Guidance Misses Estimates
Key Facts
Intapp shares fell 9.2% in after-hours trading on October 27 after the company issued second-quarter fiscal 2027 guidance that came in below analyst estimates, according to Investing.com. The company reported its first-quarter results after the market close the same day. Quarterly revenue was $161.3 million, topping analysts’ estimate of $159.18 million. Adjusted earnings were $0.44 per share, compared with an estimate of $0.40. The stock’s decline therefore followed the outlook for the coming period, not a miss in the quarter that ended.
Intapp forecast second-quarter revenue of between $158.8 million and $159.8 million, putting the midpoint at $159.3 million. That was below analysts’ estimate of $160.9 million, according to Investing.com. The company also set an adjusted earnings range of $0.37 to $0.39 per share, compared with consensus of $0.40. Together, the two forecasts point to quarterly results below market expectations, despite the first-quarter beat. Investing.com’s coverage linked the gap to the stock’s decline after the announcement.
For full-year fiscal 2027, the company raised its revenue guidance range to $658.2 million to $662.2 million. The midpoint is $660.2 million, close to analysts’ estimate of $659.1 million, according to Investing.com. The annual outlook is more in line with market estimates than the second-quarter range alone. In August, the company had issued an earlier full-year range of $656.5 million to $660.5 million, after reporting SaaS revenue of $115 million in the fourth quarter of fiscal 2026, up 27% year over year. The higher annual range means the weaker quarterly outlook was not accompanied by a cut to the full-year forecast.
First-quarter total revenue was $161.3 million, up 16% year over year, while subscription revenue rose 29% to $125.5 million. Cloud annual recurring revenue was $515.3 million as of September 30, up 28% year over year, while the 12-month cloud net revenue retention rate reached 123%. Total annual recurring revenue was $607.1 million, up 20% year over year. These metrics show recurring revenue expanding across the company’s business base, alongside subscription growth. Chief Executive John Hall said professional firms need AI that is "governed, grounded in their data, and designed to run the business of the firm."
The GAAP operating loss narrowed to $1.1 million in the first quarter, compared with a loss of $14.5 million in the same period of the previous fiscal year. GAAP net loss was $1.3 million, while the company posted adjusted net income of $34.4 million. Adjusted operating income rose to $35.4 million from $20.9 million a year earlier. GAAP loss per share narrowed to $0.02 from $0.18, while adjusted diluted earnings per share rose to $0.44 from $0.24. Net cash provided by operating activities was $28.4 million, compared with $13.8 million in the corresponding period.
The quarter’s results included the repurchase of 0.6 million shares for a total of $25 million during the three months ended September 30, 2026. In the regular session on October 27, Intapp shares closed at $42.95, down 8.91%, according to MarketScreener data. The stock had closed at $47.15 on October 26, according to EL7 data. The company had scheduled its first-quarter results for after the market close on October 27, with an investor webcast at 5 p.m. Eastern Time. The guidance issued after the results puts second-quarter revenue at a midpoint below analysts’ estimate, while the full-year forecast midpoint remained close to consensus.