Intapp Inc at Morgan Stanley Technology, Media & Telecom Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Maybe just to get started, I know last week, you had your big Amplify customer conference in New York, really successful event. Maybe share some news. What's the big reveal coming out of your customer conference?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : And what did the customers come away with when they were talking about the testimonials? What were they most excited about?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Let's dig in. And if I may, just take a step back and tell us a little bit about the platform. You mentioned DealCloud. You mentioned compliance. But talk about the Intapp Intelligent Cloud. What are the different products? What are you actually providing?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : So a lot of us -- I think this is really relevant to a lot of us in the room. On the banking side, on the investor side, we are your target customers. And what you said really rings true. We are on a 30-year-old homegrown system. It is really complicated to use. And our sales motion is very different. This is relationship based, episodic. It takes -- we have 10-year sales cycles. So how do you help these organizations? Maybe talk about your data model, intelligence graph; how you're able to take this really kind of unique, complicated industry and provide tools and models to help them with the selling motion. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 5:15PM, INTA.OQ - Intapp Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : And you're best served to go address these markets and this technology. It is specialized. Just a horizontal solution has not been able to really crack it. What you've built is very challenging. These organizations are not thought of as early adopters of cloud-based technologies, really hard to sell into, and kind of late to the party oftentimes. Yet your growth has been fantastic. So what is it about these organizations that make them particularly well suited for them, and why now? What are you seeing from them that's causing this change in how they're buying?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Outside of the move to the cloud, which is happening, it's happening in financial services, what about just kind of the macro environment and the expectation, Trump bump, whatever you want to call it, that deal activity will increase in our industries? Does that have an impact on buying?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : You mentioned AI and some of your innovations there. I mean, you were really AI before AI was cool. This is how the business was built. Talk specifically about the application of AI with Assist, what you're doing with Copilot, how that helps end users, and how you're able to monetize.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : And are these SKUs? Do you buy this as a SKU, or is it incorporated into the platform, making it more sticky and more valuable?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : You've talked a little bit about your partnership with Microsoft, which has been important for you, and it's two way. Maybe talk about that a little bit more. What do you get from Microsoft? Is there a go-to-market joint product? How has that been helpful to you? And then does that help against Salesforce, or how do you come and market against Salesforce?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Great. Dave, I want to bring you into the conversation. Maybe just talk a little bit -- let's just level set on what you sell. What's the model? What do you land with? Is it the platform? Is it a product? Kind of how you sell and how you land and expand.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : All right. And then you've gone through a very successful cloud transition from on-prem to cloud. Talk about that from the customer's perspective, just kind of the drivers and then the progress that you've made toward the cloud in terms of metrics.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : So 75% of ARR from the cloud, the fastest-growing part of the business, and you're seeing more adoption from customers landing with cloud today.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Good. So you've made some changes to the sales force recently. Maybe talk about what those changes are and what you expect the impact to be.

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : The company has just been on a tear over the last year, one of the most successful companies in vertical software. A lot of that's attributed to this combination of growth and margin. You have a high rule of -- if I look at growth plus margin, accelerating growth in the cloud. Maybe talk about how you think about balancing growth and profitability, what you prioritize, and kind of the levers that you can pull on the profitability side. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 5:15PM, INTA.OQ - Intapp Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : And what's your view on the rise in stock price? What are you hearing from investors? Is this all your execution? Is it the market backdrop? What's the cost?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : Any questions from the audience? Unidentified Participant Can you give an example of how AI can be used to improve litigation (inaudible - microphone inaccessible) REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 5:15PM, INTA.OQ - Intapp Inc at Morgan Stanley Technology, Media & Telecom Conference

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : All right. What can we expect to see from Intapp over the next five years? Where are you going to be?

Question: Melissa Knox - Morgan Stanley & Co. LLC - Analyst : I look forward to seeing it. Thank you, John, Dave.