Intapp Announces General Availability of Celeste AI Platform and Reports Cloud Revenue Growth
During its first-quarter fiscal 2027 earnings call, Intapp (INTA) announced the general availability of Intapp Celeste, its core artificial intelligence platform designed for professional services firms. The company reported a significant surge in demand, with the qualified pipeline for Celeste increasing approximately 2.5 times quarter-over-quarter. This expansion is part of a broader strategic shift toward cloud adoption and subscription-based revenue models. While on-premises licensing revenue declined by 21% as clients transition to the cloud, Intapp's Cloud Annual Recurring Revenue (ARR) grew 28% year-over-year to $515.3 million. Despite strong demand, management noted implementation bottlenecks due to a shortage of deployment engineers required to customize AI workflows for highly regulated industries. The company is currently working to increase capacity to meet this growing demand.
Tickers: $INTA
Topics: AI Platform Launch Cloud Migration Fiscal Q1 2027 Results Subscription Revenue
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