Intapp Inc. reported its fiscal second‑quarter 2026 results on February 3, 2026, delivering a revenue of $140.2 million and a diluted earnings per share of $0.33, both of which exceeded analyst expectations of $138.19 million and $0.26 respectively. The company’s earnings beat was driven by a 28% year‑over‑year increase in its high‑margin SaaS business, which generated $102.5 million in revenue, up from $79.4 million in Q2 2025. The remaining $37.7 million of revenue came from legacy license and professional‑services contracts, which declined 9% and 7% respectively, reflecting the company’s ongoing shift toward subscription‑based offerings.
The total revenue of $140.2 million represented a 16% year‑over‑year gain, the largest quarterly growth in the company’s history. Non‑GAAP operating income rose to $27.7 million, up from $21.5 million in the same quarter a year earlier, as the higher mix of SaaS contracts and improved operational leverage offset modest increases in support‑service costs. Gross margin expanded to 78.1% from 76.7% in Q2 2025, driven by the favorable mix of high‑margin cloud revenue and efficiencies in data‑center operations.
Management guided for third‑quarter SaaS revenue of $415.0 million to $419.0 million and total revenue of $570.3 million to $574.3 million for fiscal 2026, while full‑year non‑GAAP operating income was projected at $99.9 million to $103.9 million and diluted EPS at $1.20 to $1.24. The guidance reflects confidence in continued demand for AI‑powered solutions and the expansion of the partner ecosystem, but it does not represent a significant upside from the prior quarter’s outlook, which may have tempered investor enthusiasm.
Despite the earnings beat, Intapp’s stock fell 12–19% in after‑hours trading. Analysts cited two primary concerns: the guidance did not provide a substantial lift following the strong Q2 performance, and the company’s cash balance dropped to $191.2 million from $313.1 million at the end of June 2025 due to a $150.1 million share‑repurchase program in the first half of the fiscal year. The liquidity reduction raised questions about the company’s balance‑sheet resilience amid ongoing GAAP net losses.
CEO John Hall said the quarter “was supported by the addition of new clients and the expansion of existing client accounts.” He added that Intapp’s “growing partner ecosystem and demand for new AI‑driven solutions in highly regulated industries” are key drivers of the company’s transition from license to SaaS. The comments underscore the firm’s focus on scaling enterprise sales and leveraging AI to deepen customer relationships while maintaining margin expansion.
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