One-glance verdict
Undervalued
$94.77 our estimate vs market $30.54
Wall Street consensus: $33.71 (-64.4% lower than our fair-value estimate)
68% below our estimate, below the bear case
Fundamentals snapshot
Intapp, Inc.
INTA · NMS · Technology · Software - Application
Current price
$30.54
52-week range
$19.01 - $47.93
Market cap
$2.35B
Balance sheet
Healthy
-175.37x Concerning
Net cash $126.22M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
1 Risk
2 rewards · 1 risks
- Reward Revenue grew 11.1% last year.
- Reward Free cash flow was positive in 4/10 years.
- Risk Return on equity was -8.9% last year — the company lost money on shareholders' equity.
What this company does
Intapp, Inc.
Intapp sells specialized software that helps professional and financial services firms, like law offices and investment banks, manage their deals, clients, and projects. The company makes most of its money from subscriptions to this software, which creates a steady stream of recurring revenue (income that is predictable and repeats, like a monthly membership fee). This matters because these tools become essential to how these firms operate, helping them find new business and handle complex regulations.
How the company got here
Intapp started in 2000 as Tsunami Software, with the idea of creating software to help businesses easily combine data from different sources. Their first product was a piece of hardware called the 'Integration Appliance,' which eventually became the company's name, Intapp. They found early success with law firms, which had very specific needs that regular business software couldn't meet. Over the years, Intapp grew by acquiring other software companies, like DealCloud in 2018, which significantly expanded its offerings for financial and professional services firms. This series of acquisitions helped it transform from a niche provider for the legal industry into a broader platform for various professional and financial services.
What it actually does
Intapp provides specialized cloud-based software for professional and financial services firms like law firms, accounting firms, and investment banks. Think of it as a highly customized toolkit these companies use to manage their complex operations, from finding new clients to managing deals and ensuring they follow strict industry regulations. Their software helps professionals organize their relationships, track their work, and collaborate securely. A key feature is the use of Applied AI (Artificial Intelligence designed for a specific purpose) to automate tasks and provide insights, helping these firms make smarter decisions and operate more efficiently.
DealCloud
This is Intapp's flagship platform for managing relationships and deals, especially popular with investment banks and private capital firms. It functions like a super-powered address book and project manager combined, helping dealmakers track every interaction, manage their pipeline (the list of potential deals they are working on), and understand who knows whom across their entire company. Firms pay subscription fees to use this software to find new opportunities and execute transactions more efficiently. The acquisition of DealCloud in 2018 was a major turning point, making Intapp a key player in the financial services software market.
Risk & Compliance
This part of the business provides software that helps firms navigate complex regulations and avoid conflicts of interest (situations where the firm's duties to two different clients might clash). For example, it helps law firms check if a new client might create a conflict with an existing one and then creates 'ethical walls' to block certain employees from seeing sensitive information. It also helps firms monitor employee trading and other activities to ensure they comply with internal policies and government rules. This is a critical service for which firms pay to protect themselves from legal and reputational damage.
Operations & Finance
This segment offers tools that help firms manage the financial side of their projects and day-to-day work. Its main product, Intapp Time, is a sophisticated time-tracking software that helps professionals like lawyers and consultants capture all the hours they work on client projects. The software uses AI to help suggest how time should be recorded, reducing errors and making sure the firm can bill clients accurately and in line with their agreements. This helps firms improve their profitability (the ability to make a profit from their services) by preventing revenue leakage (losing income due to unbilled work).
Collaboration
This business line provides tools that help professionals work together more effectively, especially within the Microsoft 365 environment (software like Teams, SharePoint, and Outlook). The software creates secure, organized digital workspaces for each project or client matter, ensuring that all related documents, emails, and chats are stored in one place. This is more than just a simple file-sharing system; it's designed to meet the specific security and compliance needs of professional firms. Firms pay for this service to improve teamwork and maintain control over sensitive client information.
What management is betting on now
Intapp's main focus is on becoming the go-to 'industry cloud' for professional and financial services, meaning a one-stop shop for all their specialized software needs. A huge part of this strategy is embedding Artificial Intelligence, which they call 'governed AI,' deeply into all their products to automate tasks and provide smarter insights. They recently launched a new AI platform called Celeste, designed to act as an expert assistant for professionals. Management is also focused on increasing the adoption of their cloud-based subscription services and encouraging existing clients to use more of their interconnected products.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$26.35M
FY2025 Q1
$24.09M
FY2025 Q2
$25.18M
FY2025 Q3
$35.12M
FY2025 Q4
$37.47M
FY2026 Q1
$13.24M
FY2026 Q2
$22.22M
FY2026 Q3
$63.35M
Revenue
$146.04M
Net income
$-15.49M
Diluted EPS
-0.20
Operating cash flow
$63.92M
Free cash flow
$63.35M
Fetching…
Sources
Revenue
$140.21M
Net income
$-5.93M
Diluted EPS
-0.07
Operating cash flow
$22.88M
Free cash flow
$22.22M
Fetching…
Sources
Revenue
$139.03M
Net income
$-14.35M
Diluted EPS
-0.18
Operating cash flow
$13.79M
Free cash flow
$13.24M
Fetching…
Sources
Revenue
$135.04M
Net income
$-528.00K
Diluted EPS
0.00
Operating cash flow
$38.34M
Free cash flow
$37.47M
Fetching…
Sources
Revenue
$129.07M
Net income
$-2.95M
Diluted EPS
-0.04
Operating cash flow
$35.50M
Free cash flow
$35.12M
Fetching…
Sources
Revenue
$121.21M
Net income
$-10.22M
Diluted EPS
-0.13
Operating cash flow
$25.24M
Free cash flow
$25.18M
Fetching…
Sources
Revenue
$118.81M
Net income
$-4.52M
Diluted EPS
-0.06
Operating cash flow
$24.45M
Free cash flow
$24.09M
Fetching…
Sources
Revenue
$114.38M
Net income
$-597.00K
Diluted EPS
-0.01
Operating cash flow
$27.08M
Free cash flow
$26.35M
Fetching…
Sources
Is it cheap or expensive?
Fair value $94.77 vs current price $30.54
Wall Street consensus is the average analyst price target: $33.71 (-64.4% lower than our fair-value estimate).
Our most-likely fair value is $94.77 a share — about 210.3% above today's price of $30.54, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $126.2M - more cash than debt. Interest coverage -175.4x.
Net debt
$-126.22M
Interest coverage
-175.37x
Intapp, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
INTA
BASELINE
Intapp, Inc.
Total debt $20.61M Interest coverage -175.37x This is the baseline the peer rows are being compared against.
Total debt $326.71M Interest coverage 0.21x This peer still has a real interest-payment cushion, while INTA does not.
Total debt $687.32M Interest coverage 3.96x This peer still has a real interest-payment cushion, while INTA does not.
Total debt $1.89B Interest coverage -5.83x Neither company has much profit cushion over interest right now.
Total debt $72.02M Interest coverage 221.32x This peer still has a real interest-payment cushion, while INTA does not.
Total debt $35.77M Interest coverage 18.75x This peer still has a real interest-payment cushion, while INTA does not.
What you should know
The case for and against INTA
2 Rewards
1 Risk
Rewards
-
Revenue grew 11.1% last year.
-
Free cash flow was positive in 4/10 years.
Risks
-
Return on equity was -8.9% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
19.75x
P/B
7.34x
P/S
4.20x
EV/EBITDA
-110.80x
PEG ratio
0.55x
Profitability
How much profit each dollar creates
Gross margin
75.1%
Operating margin
-7.2%
Net margin
-6.5%
ROE
-8.9%
ROA
-2.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.06x
Current ratio
0.77x
Quick ratio
0.68x
Total debt
$20.61M
Total cash
$146.82M
Growth
How the business has been compounding
Revenue TTM
$560.31M
Revenue 5Y CAGR
23.8%
EPS TTM
-0.44
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$138.94M
Free CF TTM
$121.86M
FCF margin
21.7%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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