📊 Intapp, Inc. (NASDAQ: INTA) closed fiscal year 2024 with total revenue of $430.5 million, up 23% year-over-year. The company’s SaaS revenue reached $316 million, a 25% increase from last year. Cloud annual recurring revenue (ARR) grew to $296.7 million, up 33%. This shift to cloud services reflects Intapp’s successful transition to a more recurring revenue model.
📈 However, profitability remains a challenge. For Q4, Intapp reported a net loss of $0.6 million, though it’s a significant improvement compared to the $11.5 million loss in Q4 2023. The company’s non-GAAP operating income jumped to $13.5 million, up from $3 million last year, signaling better cost control and efficiency gains.
🚀 Intapp continues to expand its client base and deepen engagements. By the end of FY2024, it served over 2,550 clients, 73 of which had ARR contracts above $1 million—a 38% increase year-over-year. Key drivers of this growth include new AI-powered solutions and enhanced collaboration capabilities, which are gaining traction among top-tier financial and legal firms.
💼 Another major milestone for Intapp is its positive cash flow from operations, which amounted to $67.2 million for fiscal year 2024, compared to $27.5 million in 2023. This improvement is due to a significant reduction in operational losses and cost optimization. The company now holds $208.4 million in cash and cash equivalents, providing financial stability and resources for future growth initiatives.
🔍 Despite these achievements, Intapp’s stock is still trading at lower multiples compared to its industry peers. Its current EV/Revenue multiple stands at 7.4x, significantly lower than that of competitors like Clearwater Analytics, which trades at 13x. This suggests a potential undervaluation by the market, offering interesting opportunities for long-term investors.
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IMPORTANT: This article is of general nature only and readers should obtain advice specific to their circumstances from professional advisers.