Intapp Board Approves $200M Buyback Following $150M Program Completion

INTAINTA

Intapp’s Board authorized a $200.0 million share repurchase program on January 29, 2026. This follows the completion of a $150.0 million buyback authorized in August 2025.

1. Capital Efficiency Challenges

Intapp’s most recent financial summary highlights a return on invested capital (ROIC) of -5.33% against a weighted average cost of capital (WACC) of 6.98%, resulting in a ROIC-to-WACC ratio of -0.76. This gap underscores inefficiencies in how Intapp deploys its capital. By comparison, Integral Ad Science leads peer group efficiency with a ROIC-to-WACC ratio of 0.37, while EverCommerce posts a modest 0.05. Paycor HCM and Flywire mirror Intapp’s capital utilization struggles with negative ROIC figures of -0.68% and -0.29% respectively, and PowerSchool delivers only a slight positive ROIC of 0.84%, equating to a 0.10 ratio, still below the cost-of-capital threshold.

2. Q2 Fiscal 2026 Financial Results

For the quarter ended December 31, 2025, Intapp reported SaaS revenue of $102.5 million, up 28% year-over-year, and total revenue of $140.2 million, a 16% increase. Cloud annual recurring revenue (ARR) reached $433.6 million, rising 31% from a year earlier and representing 81% of total ARR. Overall ARR grew 22% to $535.0 million. On a GAAP basis, the company reduced its operating loss from $10.2 million a year ago to $7.2 million, while non-GAAP operating income improved from $18.9 million to $27.7 million. GAAP net loss narrowed to $5.9 million versus $10.2 million, and non-GAAP net income rose to $27.6 million from $17.4 million, translating to $0.33 of non-GAAP diluted net income per share compared to $0.21 in the prior year.

3. Share Repurchase Program and Guidance

On January 29, 2026, Intapp’s board authorized a new $200 million common stock repurchase program, following completion of the prior $150 million authorization. For the third quarter of fiscal 2026, management forecasts SaaS revenue between $105.0 million and $106.0 million, total revenue of $143.8 million to $144.8 million, and non-GAAP operating income of $23.1 million to $24.1 million. The company anticipates non-GAAP diluted net income per share in the range of $0.27 to $0.29. Full year guidance includes SaaS revenue of $415.0 million to $419.0 million, total revenue of $570.3 million to $574.3 million, non-GAAP operating income of $99.9 million to $103.9 million, and non-GAAP diluted net income per share of $1.20 to $1.24, reflecting anticipated stock-based compensation and intangible amortization adjustments.

Sources

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