Intapp caps a defining fiscal 2026 with 13% Q4 revenue growth and early Celeste momentum

Intapp (NASDAQ:INTA) closed out fiscal 2026 with a 13% increase in fourth-quarter revenue, helped by cloud subscription growth and early commercial traction for its Celeste AI platform. Revenue reached $152.5 million in the period, and executives said the quarter capped a year in which the company’s AI strategy moved from concept to product.

Subscription revenue rose 27% year over year to $115 million, accounting for more than three-quarters of total revenue. License revenue fell 25% to $23.9 million, a decline Chief Financial Officer David Morton tied to customers taking shorter on-premise contract terms as they prepare to migrate to the cloud. Professional services revenue increased 5% to $13.6 million.

“Q4 was another strong quarter, closing out a defining year for Intapp,” Chairman and CEO John Hall said. Hall said the company took its Firm AI strategy “from thesis to category” during the year, highlighted by the launch of Celeste, an AI platform aimed at highly regulated professional-services and financial-services firms.

The quarter’s mix underscores how much of Intapp’s business has shifted to recurring revenue. Cloud annual recurring revenue rose 29% year over year to $495.7 million, while total ARR grew 22% to $590.5 million. Cloud ARR represented 84% of total ARR. Since its 2021 initial public offering, Intapp has recorded 20 consecutive quarters of cloud ARR growth above 25%.

Cloud net revenue retention was roughly 123% in the quarter. The company ended the period with more than 1,400 customers each generating at least $50,000 in ARR. Customers producing more than $1 million in ARR increased to 142 from 109 a year earlier, and ARR from that group climbed 40%.

Non-GAAP operating income rose to $34.3 million from $21.3 million in the year-ago quarter. Non-GAAP diluted EPS was $0.41, compared with $0.27. Free cash flow increased more than 20% year over year to $45.9 million, and the company ended the quarter with $162.8 million in cash and cash equivalents.

For the full fiscal year, revenue increased 15% to $577.8 million. Subscription revenue grew 27% to $422.8 million, while license revenue declined 14% to $103.4 million. Full-year non-GAAP operating income rose to $108.6 million from $75.6 million, and free cash flow reached $144.7 million, or 25% of revenue.

Morton said the results reflect a business increasingly tied to the AI opportunity, pointing to cloud conversion activity, sustained cloud retention and accelerating AI bookings. AI represented more than 20% of net new bookings in the fourth quarter, and the company said those bookings doubled sequentially.

Celeste launched in limited availability during the fourth quarter and became generally available on July 15, after the quarter closed. Hall said the platform is designed to help firms put their own data, workflows and compliance systems to work across tasks such as deal screening, conflicts clearance, intake and time capture. He cited 25 years of firm-specific data, workflows and compliance infrastructure as the company’s main edge.

Early customers include BakerHostetler, which is using Celeste for intake and lateral integration; Alvarez & Marsal, which plans to move to DealCloud with Celeste; and Hg, which has adopted Celeste in its front-office investment process. Eversheds Sutherland also added Celeste functionality to its time product.

Hall said Celeste’s monetization model combines a platform fee with a usage fee. While he did not disclose deal values, he told analysts the limited-availability period produced some of the largest initial customer deployments the company has seen for a product launch.

Demand signals are coming from both technical and business buyers, according to management. Hall said firms are funding AI from existing IT budgets, newly created AI budgets and, increasingly, budgets tied to business-services labor and operational costs.

Cloud migrations also accelerated. Intapp signed more than 30 migrations in the quarter, its highest quarterly total. Morton said 95% of clients now have Intapp in the cloud, and the remaining on-premise ARR base has fallen below $100 million. The largest remaining migration opportunity, he added, is among long-standing legal clients that use some cloud applications but still maintain on-premise systems. Hall said access to Celeste is giving those customers an extra reason to move faster.

Morton said cloud migrations have historically generated an ARR uplift of roughly 20% to 30%. After completing a migration, some customers may enter a separate sales cycle for Celeste, he noted.

Partner momentum also built during the year. Co-sell partners influenced about one-third of new-logo wins, and co-sell bookings increased about 35% year over year. Microsoft was a co-sell partner on eight of Intapp’s 10 largest deals in fiscal 2026, according to Hall. Partner-led projects nearly doubled, and partner certifications rose 29%.

After the quarter, Intapp expanded its relationship with Moody’s to bring credit-risk, entity-screening and ownership data into Celeste. Management said the partnership is intended to weave counterparty intelligence into deal and risk workflows.

Looking ahead, Intapp guided to fiscal first-quarter subscription revenue of $123.7 million to $124.7 million and total revenue of $159.3 million to $160.3 million. The company expects non-GAAP operating income of $33.4 million to $34.4 million and non-GAAP EPS of $0.39 to $0.41. For fiscal 2027, it projected subscription revenue of $528.7 million to $532.7 million and total revenue of $656.5 million to $660.5 million, with non-GAAP operating income of $134.7 million to $138.7 million and non-GAAP EPS of $1.58 to $1.62.

Morton said the outlook is based on continued cloud subscription growth, expanding Celeste monetization after general availability and operating leverage in Intapp’s model. Intapp repurchased 8.4 million shares during fiscal 2026 and had about $75 million remaining under its buyback authorization at the end of the fourth quarter.

For investors, the quarter underscores that Intapp now has two growth engines: the ongoing move to the cloud and the emerging usage-based AI layer. How quickly the remaining on-premise base migrates, and how much Celeste attachment follows, will likely determine whether subscription growth holds in fiscal 2027.

Intapp, based in Palo Alto, California, provides cloud software for professional-services firms including law firms, accounting practices and financial institutions. Its applications—Intake, Conflicts, Risk, Open, Time and Flow—span the client lifecycle, connecting front-office business development with back-office risk and compliance functions.