Intapp 10-Q: Q1 FY2027 Revenue Up 16% to $161.3M, Net Loss Narrows to $1.3M
INTA sits 84% above its 52-week low of $19.01.
Summary
Intapp's Q1 FY2027 10-Q shows subscription revenue up 29% to $125.5 million and net loss narrowed to $1.3 million, with $147.7 million of cash and a new undrawn $150 million revolver.
Key Events · Earnings and Guidance · INTA
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Subscription Growth Drives Margin Expansion
Subscription revenue rose 29% to $125.5 million while license revenue fell 21% to $23.0 million, lifting gross margin to 78% from 75% and total revenue 16% to $161.3 million.
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Net Loss Narrows to $1.3 Million
Operating loss shrank to $1.1 million from $14.5 million a year earlier; net loss per share was $0.02 versus $0.18, with stock-based compensation of $33.1 million still exceeding the operating loss.
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Cash Falls $15.1 Million in the Quarter
Cash and equivalents ended at $147.7 million versus $162.8 million at June 30, after $25.0 million of buybacks and $16.8 million of tax withholding on vested equity awards; operating cash flow was $28.4 million.
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New $150 Million UBS Revolver Undrawn
The five-year senior secured facility signed July 7, 2026 replaced the JPMorgan-led agreement; no amounts are borrowed and the company is in compliance with all covenants.
Analysis · INTA · Technology
The headline numbers were already out this morning, but the 10-Q is where the quality of the quarter shows. Subscription revenue grew 29% to $125.5 million while license revenue fell 21% to $23.0 million as clients migrate to the cloud — a mix shift that lifted gross margin to 78% from 75%. The operating loss collapsed to $1.1 million from $14.5 million a year ago, though stock-based compensation of $33.1 million is still larger than the entire operating loss, so GAAP profitability remains a compensation-driven story. Cash is the real constraint to watch: $147.7 million at quarter-end, down $15.1 million in three months after $25.0 million of buybacks and $16.8 million of tax withholding on vested awards, against $248.4 million of unrecognized stock compensation still to run through the P&L. The new undrawn $150 million UBS revolver gives breathing room, and $799.4 million of remaining performance obligations with 123% cloud net revenue retention supports the growth case.
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At the time of this filing, INTA was trading at $34.98 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $19.01 to $48.19. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.