Intapp's Cash Flow Doubled, But A $47.1 Million Collection Did The Heavy Lifting
Operating cash flow hit $28.4 million as receivables unwound, while employee tax bills took $16.8 million and buybacks halved.
Intapp, which makes cloud software for accounting, legal, consulting and investment banking firms, generated $28.4 million in operating cash in its fiscal first quarter, up from $13.8 million a year earlier. Most of the lift came from a $47.1 million drop in accounts receivable, the company said in its 10-Q filed Tuesday, while the quarter still ended with a $1.3 million net loss.
Where the cash came from
The company attributed the receivables decline to timing of billing and collections. Against it, deferred revenue fell $27.3 million, which the filing ties to timing of client invoicing, and accounts payable and accrued liabilities fell $27.9 million.
Non-cash charges of $38.8 million, mainly stock compensation, depreciation and amortization, also bridged the gap between the loss and the cash figure. Cash and equivalents ended September 30 at $147.7 million, down from $162.8 million at June 30.
Revenue itself was strong. Total revenue was $161.3 million, up 16%, with subscription revenue up 29% to $125.5 million. Annual recurring revenue reached $607.1 million, up 20%, and the earnings release put cloud ARR at $515.3 million, up 28%.
Tax bills and a slower buyback
Financing activities used $41.4 million. Intapp paid $16.8 million in employee payroll tax withholding on vested equity awards, with no such payment in the year-earlier quarter.
Stock-based compensation rose to $33.1 million from $27.3 million, and unrecognized cost on unvested awards stood at $248.4 million as of September 30, to be recognized over about 2.3 years.
Buybacks fell to $25.0 million, about 0.6 million shares, from $50.0 million a year earlier. The prior 10-Q showed $100.0 million repurchased in the March quarter. Of the $200.0 million authorization approved in January, $50.0 million remains.
A new credit line, still undrawn
On July 7, Intapp entered a five-year, $150 million revolving credit facility led by UBS and ended its JPMorgan-led agreement. Nothing has been borrowed under it. The company says cash plus the facility should cover needs for the next twelve months and beyond.
The company's 10-K, filed August 14, had already described the UBS facility.
Intapp guided second-quarter total revenue to $158.8 million to $159.8 million, below this quarter's $161.3 million.
Sources
- 10-Q Filing — Intapp (INTA) — SEC EDGAR
- 10-Q Filing — Intapp (INTA), Q3 FY2026 filed 2026-05-05 (comparison basis) — SEC EDGAR
- 10-K Filing — Intapp (INTA), filed 2026-08-14 (earlier disclosure) — SEC EDGAR
- Earnings release (8-K Item 2.02, inta-20260930xex991.htm) — Intapp, filed 2026-10-27 — SEC EDGAR
- Intapp Non-GAAP EPS of $0.44 beats by $0.04, revenue of $161.2M beats by $1.57M (INTA:NASDAQ) | Seeking Alpha — seekingalpha.com
- Oppenheimer names top SMID software stocks ahead of Q3 earnings — Yahoo Finance
- Oppenheimer點名Q3財報季前最看好的中小型軟件股 — Yahoo Finance
