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Dec 31, 2022
Intapp Q2 2023 Earnings Report
Intapp's Q2 2023 financial results were announced, demonstrating revenue growth and a shift towards cloud-based solutions.
Key Takeaways
Intapp reported a strong second quarter with a 31% year-over-year increase in total revenue, reaching $84.7 million. The company's cloud ARR grew by 42% year-over-year, highlighting its successful transition to cloud-based services. While still reporting a GAAP operating and net loss, the company achieved non-GAAP operating and net profit.
Total revenue increased by 31% year-over-year to $84.7 million.
SaaS and support revenue grew by 31% year-over-year to $61.6 million.
Cloud ARR increased by 42% year-over-year to $191.8 million.
GAAP operating loss improved to ($19.4) million, compared to ($24.3) million in the prior year.
Intapp
Intapp
Intapp Revenue by Segment
Revenue by Segment
SaaS and Support Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Intapp provided its outlook for the third quarter and full fiscal year 2023. The guidance includes SaaS and support revenue, total revenue, non-GAAP operating profit, and non-GAAP net income (loss) per share.
Positive Outlook
- Third quarter SaaS and support revenue is expected to be $63.0 - $64.0 million.
- Third quarter total revenue is expected to be $87.0 - $88.0 million.
- Third quarter non-GAAP operating profit is expected to be $0.5 - $1.5 million.
- Third quarter non-GAAP net income (loss) per share is expected to be ($0.01) - $0.01.
- Full fiscal year SaaS and support revenue is expected to be $246.0 - $250.0 million.
Challenges Ahead
- Full fiscal year total revenue is expected to be $340.5 - $344.5 million.
- Full fiscal year non-GAAP operating profit is expected to be $4.5 - $8.5 million.
- Full fiscal year non-GAAP net income (loss) per share is expected to be $0.02 - $0.06.
- The guidance constitutes forward-looking statements and actual results may differ materially.
- Reconciling items, including stock-based compensation and amortization of intangible assets, could be highly variable and cannot be reasonably predicted.
Revenue & Expenses
Visualization of income flow from segment revenue to net income