Intapp Q2 SaaS Revenue Jumps 28% to $102.5M, EPS $0.33
Intapp reported fiscal Q2 SaaS revenue of $102.5 million, up 28% year-over-year, and total revenue of $140.2 million, up 16%. Non-GAAP net income rose to $27.6 million, or $0.33 per share, from $17.4 million, or $0.21.
1. Robust Fiscal Q2 2026 Revenue and Profitability
Intapp delivered a strong second quarter, with SaaS revenue rising 28% year-over-year to $102.5 million and total revenue up 16% to $140.2 million. Cloud ARR reached $433.6 million, a 31% increase over the prior year, representing 81% of total ARR. On a GAAP basis, operating loss narrowed to $7.2 million (versus $10.2 million a year ago) and net loss per share declined to $0.07. Non-GAAP operating income climbed to $27.7 million (from $18.9 million), while adjusted diluted EPS improved to $0.33 (versus $0.21). Cash and equivalents stood at $191.2 million as of quarter end.
2. Capital Efficiency Challenges Highlighted by ROIC Analysis
Intapp’s Return on Invested Capital (ROIC) was negative 5.33% against a 6.98% Weighted Average Cost of Capital (WACC), yielding a ROIC/WACC ratio of –0.76. This indicates that the company is not earning sufficient returns to cover its cost of capital and underscores inefficiencies in capital deployment. By comparison, peer ROIC/WACC ratios range from 0.05 at EverCommerce to 0.37 at Integral Ad Science, while other sector peers also report negative ROICs, reflecting a broader industry challenge.
3. Share Repurchase Program and Liquidity Position
In January 2026, Intapp’s board authorized a new $200 million common stock repurchase program, following the completion of a $150 million buyback authorized in August 2025. The company repurchased 3.4 million shares for $150.1 million during the first half of fiscal 2026, demonstrating confidence in its long-term value. Despite the repurchases, Intapp maintained a solid liquidity cushion with $191.2 million in cash and equivalents as of December 31, 2025.
4. Fiscal 2026 Outlook Reflects Continued Growth Trajectory
For the third quarter, management is targeting SaaS revenue of $105 million to $106 million and total revenue of $143.8 million to $144.8 million. Full-year guidance calls for SaaS revenue between $415 million and $419 million, total revenue of $570.3 million to $574.3 million, non-GAAP operating income of $99.9 million to $103.9 million, and adjusted EPS of $1.20 to $1.24. These projections incorporate estimated stock-based compensation and intangible asset amortization charges, signaling management’s confidence in sustaining high-teens growth and expanding profitability.