FALSE000156568700015656872026-02-032026-02-03

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________________________
FORM 8-K
__________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 3, 2026
__________________________________________________________
Intapp, Inc.
(Exact name of Registrant as Specified in Its Charter)
__________________________________________________________
Delaware001-4055046-1467620
(State or Other Jurisdiction
of Incorporation)		(Commission File Number)(IRS Employer
Identification No.)
3101 Park Blvd
Palo Alto, California
94306
(Address of Principal Executive Offices)(Zip Code)
Registrant’s Telephone Number, Including Area Code: (650) 852-0400
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
__________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per shareINTAThe Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02 Results of Operations and Financial Condition.
On February 3, 2026, Intapp, Inc. issued a press release announcing its financial results for its second quarter ended December 31, 2025. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K and the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
Exhibit
Number		Description
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Intapp, Inc.
Date: February 3, 2026
By:/s/ Steven Todd
Name: Steven Todd
Title: General Counsel

Exhibit 99.1
Intapp Announces Second Quarter Fiscal Year 2026 Financial Results
•Second quarter SaaS revenue of $102.5 million, up 28% year-over-year
•Cloud annual recurring revenue (“ARR”) of $433.6 million, up 31% year-over-year
•Trailing twelve months’ cloud net revenue retention rate as of December 31, 2025 was 124%
PALO ALTO, Calif., February 3, 2026 – Intapp, Inc. (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, announced financial results for its fiscal second quarter ended December 31, 2025. Intapp also provided its outlook for the third quarter and the full fiscal year 2026.
“I am pleased to report our strong second quarter which was supported by the addition of new clients and the expansion of existing client accounts,” said John Hall, CEO of Intapp. “Our results reflect our proficiency in serving enterprise clients, our growing partner ecosystem, and demand for our new AI-driven solutions in the highly-regulated industries we serve.”
Second Quarter of Fiscal Year 2026 Financial Highlights
•SaaS revenue was $102.5 million, a 28% year-over-year increase compared to the second quarter of fiscal year 2025.
•Total revenue was $140.2 million, a 16% year-over-year increase compared to the second quarter of fiscal year 2025.
•Cloud ARR was $433.6 million as of December 31, 2025, a 31% year-over-year increase compared to Cloud ARR as of December 31, 2024. Cloud ARR represented 81% of total ARR as of December 31, 2025, compared to 76% as of December 31, 2024.
•Total ARR was $535.0 million as of December 31, 2025, a 22% year-over-year increase compared to total ARR as of December 31, 2024.
•GAAP operating loss was $(7.2) million, compared to a GAAP operating loss of $(10.2) million in the second quarter of fiscal year 2025.
•Non-GAAP operating income was $27.7 million, compared to a non-GAAP operating income of $18.9 million in the second quarter of fiscal year 2025.
•GAAP net loss was $(5.9) million, compared to a GAAP net loss of $(10.2) million in the second quarter of fiscal year 2025.
•Non-GAAP net income was $27.6 million, compared to a non-GAAP net income of $17.4 million in the second quarter of fiscal year 2025.
•GAAP net loss per share was $(0.07), compared to a GAAP net loss per share of $(0.13) in the second quarter of fiscal year 2025.
•Non-GAAP diluted net income per share was $0.33, compared to a non-GAAP diluted net income per share of $0.21 in the second quarter of fiscal year 2025.
•Cash and cash equivalents were $191.2 million as of December 31, 2025, compared to $313.1 million as of June 30, 2025.
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•For the six months ended December 31, 2025, net cash provided by operating activities was $36.7 million, compared to net cash provided by operating activities of $49.7 million for the six months ended December 31, 2024.
•For the six months ended December 31, 2025, we repurchased 3.4 million shares of our common stock for an aggregate amount of $150.1 million, including broker fees.
Business Highlights
•As of December 31, 2025, we served more than 2,750 clients, 834 of which each had contracts greater than $100,000 of ARR.
•We upsold and cross-sold our existing clients such that our trailing twelve months’ cloud net revenue retention rate as of December 31, 2025 was 124%.
•We continued to add new clients and expand existing accounts including accounting firm Ostberg Sinclair and law firm Buchanan Ingersoll & Rooney.
•Intapp DealCloud was named Deal Origination Solution of the Year: Credit at the 2025 Private Equity Wire U.S. Awards.
Fiscal 2026 Outlook
Third Quarter
Fiscal Year
(in millions, except per share data)
SaaS revenue
$105.0 - $106.0
$415.0 - $419.0
Total revenue
$143.8 - $144.8
$570.3 - $574.3
Non-GAAP operating income
$23.1 - $24.1
$99.9 - $103.9
Non-GAAP diluted net income per share
$0.27 - $0.29
$1.20 - $1.24
The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to the “Forward-Looking Statements” safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
The information presented in this press release includes non-GAAP financial measures such as “non-GAAP operating income,” “non-GAAP net income,” and “non-GAAP diluted net income per share.” Refer to “Non-GAAP Financial Measures and Other Metrics” for a discussion of these measures and the financial tables below for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
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The guidance regarding non-GAAP operating income excludes known pre-tax charges related to estimated stock-based compensation of $28.7 million for the third quarter of fiscal year 2026 and $112.6 million for fiscal year 2026 and amortization of intangible assets of $2.9 million for the third quarter of fiscal year 2026 and $10.6 million for fiscal year 2026. The guidance regarding non-GAAP diluted net income per share excludes known pre-tax charges related to estimated stock-based compensation of $0.35 per share for the third quarter of fiscal year 2026 and $1.35 per share for fiscal year 2026 and amortization of intangible assets of $0.03 per share for the third quarter of fiscal year 2026 and $0.13 per share for fiscal year 2026. The Company has not included a quantitative reconciliation of its guidance for non-GAAP operating income and non-GAAP diluted net income per share to their most directly comparable GAAP financial measures, other than stock-based compensation and amortization of intangible assets, because certain of these reconciling items, including expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and income tax effect of non-GAAP adjustments, could be highly variable and cannot be reasonably predicted without unreasonable effort. This is due to the inherent difficulty of forecasting the timing of certain events that have not yet occurred and are out of the Company’s control and the amounts of associated reconciling items. Please note that the unavailable reconciling items could significantly impact the Company’s GAAP operating results.
Corporate Presentation
A supplemental financial presentation and other information will be accessible through Intapp’s investor relations website at https://investors.intapp.com/.
Webcast
Intapp will host a conference call for analysts and investors on Tuesday, February 3, 2026, beginning at 2:00 p.m. PT (5:00 p.m. ET). The call will be webcast live via the “Investors” section of the Intapp company website at https://investors.intapp.com/. A replay of the call will be available through the Intapp website for 90 days.
About Intapp
Intapp software helps professionals unlock their teams’ knowledge, relationships, and operational insights to increase value for their firms. Using the power of Applied AI, we make firm and market intelligence easy to find, understand, and use. With Intapp’s portfolio of vertical SaaS solutions, professionals can apply their collective expertise to make smarter decisions, manage risk, and increase competitive advantage. The world’s top firms — across accounting, consulting, investment banking, legal, private capital, and real assets — trust Intapp’s industry-specific platform and solutions to modernize and drive new growth.
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Forward-Looking Statements
This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the third quarter and full fiscal year 2026, growth strategy, business plans and market position. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” “expand,” “outlook” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance, or achievement to differ materially and adversely from those anticipated or implied in the statements, including: our ability to continue our growth at or near historical rates; our future financial performance and ability to be profitable; the effect of global events on the U.S. and global economies, our business, our employees, our results of operations, our financial condition, demand for our products, sales and implementation cycles, and the health of our clients’ and partners’ businesses; our ability to prevent and respond to data breaches, unauthorized access to client data or other disruptions of our solutions; our ability to effectively manage U.S. and global market and economic conditions, including inflationary pressures, economic and market downturns and volatility in the financial services industry, particularly adverse to our targeted industries; the effect on our customers of the imposition of additional tariffs, duties, or taxes, changes to existing trade agreements, and other charges or barriers to trade and any resulting impact to global stock markets, foreign currency exchange rates, and existing inflationary pressures; the length and variability of our sales cycle; our ability to attract and retain clients; our ability to attract and retain talent; our ability to compete in highly competitive markets, including AI products; our ability to manage the implementation of AI into our products and services and to comply with U.S. and global laws and regulations regarding AI; our ability to manage additional complexity, burdens, and volatility in connection with our international sales and operations; the successful assimilation or integration of the businesses, technologies, services, products, personnel or operations of acquired companies; our ability to incur indebtedness in the future and the effect of conditions in credit markets; the sufficiency of our cash and cash equivalents to meet our liquidity needs; and our ability to maintain, protect, and enhance our intellectual property rights. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.
Non-GAAP Financial Measures and Other Metrics
This press release contains the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted net income per share. These non-GAAP measures exclude the impact of stock-based compensation, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Stock-based compensation includes the net effects of capitalization and amortization of stock-based compensation related to capitalized internal-use software costs. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
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Free cash flow is a non-GAAP financial measure, and a supplemental liquidity measure that management uses to evaluate our core operating business and our ability to meet our current and future financing and investing needs. It consists of net cash provided by operating activities less cash paid for purchases of property and equipment. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
Other metrics include total ARR, Cloud ARR and Cloud net revenue retention rate. Total ARR represents the annualized recurring value of all active SaaS and on-premise license contracts at the end of a reporting period. Cloud ARR is the portion of the annualized recurring value of our active SaaS contracts at the end of a reporting period. Contracts with a term other than one year are annualized by taking the committed contract value for the current period divided by number of days in that period, then multiplying by 365. Cloud net revenue retention rate is the portion of our net revenue retention rate, which represents the net revenue retention of our SaaS contracts. We calculate Cloud net revenue retention by starting with the Cloud ARR from the cohort of all clients as of the twelve months prior to the applicable fiscal period, or prior period Cloud ARR. We then calculate the Cloud ARR from these same clients as of the current fiscal period, or current period Cloud ARR. We then divide the current period Cloud ARR by the prior period Cloud ARR to calculate the Cloud net revenue retention.
We believe these non-GAAP financial measures and metrics provide useful information to investors as they are used by management to manage the business, make planning decisions, evaluate our performance, and allocate resources and provide useful information regarding certain financial and business trends relating to our financial condition and results of operations. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
Guidance for non-GAAP financial measures excludes stock-based compensation expense, amortization of intangible assets, expenses associated with acquisition-related contingent and deferred liabilities, transaction costs, restructuring and other costs, foreign currency impact from dissolution of subsidiary, asset impairments and the income tax effect of non-GAAP adjustments. Non-GAAP diluted net income per share is calculated by dividing non-GAAP net income by the estimated diluted weighted average shares outstanding for the period.
Investor Contact
David Trone
Senior Vice President, Investor Relations
Intapp, Inc.
ir@intapp.com
Media Contact
Ali Robinson
Global Media Relations Director
Intapp, Inc.
press@intapp.com
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INTAPP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share data and percentages)
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Revenues:
SaaS$102,458$79,976$199,982$156,852
License25,44928,01754,63656,509
Professional services12,30113,21624,61726,653
Total revenues140,208121,209279,235240,014
Cost of revenues:
SaaS18,24216,29236,10231,610
License1,3481,6302,9163,382
Professional services15,48014,54931,24829,413
Total cost of revenues35,07032,47170,26664,405
Gross profit105,13888,738208,969175,609
Gross margin75.0%73.2%74.8%73.2%
Operating expenses:
Research and development39,28333,32580,21765,752
Sales and marketing46,69140,79195,47778,551
General and administrative26,34124,80854,90748,746
Total operating expenses112,31598,924230,601193,049
Operating loss(7,177)(10,186)(21,632)(17,440)
Interest and other income (expense), net1,915(202)2,9743,220
Net loss before income taxes(5,262)(10,388)(18,658)(14,220)
Income tax (expense) benefit(672)171(1,629)(517)
Net loss$(5,934)$(10,217)$(20,287)$(14,737)
Net loss per share, basic and diluted$(0.07)$(0.13)$(0.25)$(0.19)
Weighted-average shares used to compute net loss per share, basic and diluted81,04878,11881,46576,861
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INTAPP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
December 31, 2025June 30, 2025
Assets
Current assets:
Cash and cash equivalents$191,152 $313,109 
Restricted cash200 200 
Accounts receivable, net119,318 89,667 
Unbilled receivables, net15,465 19,462 
Other receivables, net3,991 5,866 
Prepaid expenses11,426 11,971 
Deferred commissions, current17,844 15,605 
Total current assets359,396 455,880 
Property and equipment, net24,715 23,157 
Operating lease right-of-use assets17,713 18,139 
Goodwill326,101 326,260 
Intangible assets, net34,962 40,699 
Deferred commissions, noncurrent20,873 20,761 
Other assets11,419 9,265 
Total assets$795,179 $894,161 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$16,402 $16,497 
Accrued compensation36,885 51,654 
Accrued expenses7,169 12,647 
Deferred revenue, net283,073 256,994 
Other current liabilities15,193 12,066 
Total current liabilities358,722 349,858 
Deferred tax liabilities1,420 1,716 
Deferred revenue, noncurrent4,011 2,002 
Operating lease liabilities, noncurrent14,836 16,114 
Other liabilities5,941 4,706 
Total liabilities384,930 374,396 
Stockholders’ equity:
Common stock81 82 
Additional paid-in capital1,085,919 1,025,712 
Accumulated other comprehensive loss— (630)
Accumulated deficit(675,751)(505,399)
Total stockholders’ equity410,249 519,765 
Total liabilities and stockholders’ equity$795,179 $894,161 
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INTAPP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Cash Flows from Operating Activities:
Net loss$(5,934)$(10,217)$(20,287)$(14,737)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization4,649 4,372 9,221 8,839 
Amortization of operating lease right-of-use assets1,517 1,278 2,947 2,558 
Accounts receivable allowances361 273 828 823 
Stock-based compensation30,697 25,411 57,984 45,400 
Change in fair value of contingent consideration— — 500 (1,004)
Deferred income taxes(138)(26)(297)(74)
Foreign currency impact from dissolution of subsidiary— — 799 — 
Asset impairments— — 1,351 — 
Other38 38 76 76 
Changes in operating assets and liabilities:
Accounts receivable(58,714)(23,742)(30,150)6,465 
Unbilled receivables, current2,126 (1,009)3,997 (486)
Prepaid expenses and other assets1,167 (2,433)1,868 (5,001)
Deferred commissions(2,860)(1,832)(2,351)(165)
Accounts payable and accrued liabilities2,577 185 (19,292)(7,875)
Deferred revenue, net47,863 32,784 28,088 15,509 
Operating lease liabilities(1,764)(1,344)(3,085)(2,675)
Other liabilities1,296 1,501 4,479 2,032 
Net cash provided by operating activities22,881 25,239 36,676 49,685 
Cash Flows from Investing Activities:
Purchases of property and equipment(664)(62)(1,222)(416)
Capitalized internal-use software costs(2,117)(1,915)(4,411)(3,449)
Business combinations, net of cash acquired— — (9)(897)
Purchase of strategic investments— — (2,990)— 
Net cash used in financing activities(2,781)(1,977)(8,632)(4,762)
Cash Flows from Financing Activities:
Payments for deferred offering costs— — — — 
Proceeds from stock option exercises5,332 9,666 8,134 32,584 
Proceeds from employee stock purchase plan2,153 1,970 2,153 1,970 
Payments related to tax withholding for vested equity awards(8,558)— (8,558)— 
Payments of contingent consideration and holdback associated with acquisitions(1,236)(1,023)(1,236)(2,410)
Repurchases of common stock(100,046)— (150,068)— 
Net cash (used in) provided by financing activities(102,355)10,613 (149,575)32,144 
Effect of foreign currency exchange rate changes on cash and cash equivalents(30)(2,091)(426)194 
Net (decrease) increase in cash, cash equivalents and restricted cash(82,285)31,784 (121,957)77,261 
Cash, cash equivalents and restricted cash - beginning of period273,637 254,047 313,309 208,570 
Cash, cash equivalents and restricted cash - end of period$191,352 $285,831 $191,352 $285,831 
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INTAPP, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(Unaudited, in thousands, except per share data and percentages)
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP financial measures for the periods indicated below:
Non-GAAP Gross Profit
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
GAAP gross profit$105,138 $88,738 $208,969 $175,609 
Adjusted to exclude the following:
Stock-based compensation2,647 2,702 5,035 4,934 
Amortization of intangible assets1,710 1,509 3,421 3,080 
Restructuring and other costs— 53 74 62 
Non-GAAP gross profit$109,495 $93,002 $217,499 $183,685 
Non-GAAP gross margin78.1 %76.7 %77.9 %76.5 %
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Non-GAAP Operating Expenses
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
GAAP research and development$39,283 $33,325 $80,217 $65,752 
Stock-based compensation(8,634)(6,800)(16,621)(11,424)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(605)— (1,680)— 
Restructuring and other costs(75)(113)(440)(162)
Non-GAAP research and development$29,969 $26,412 $61,476 $54,166 
GAAP sales and marketing$46,691 $40,791 $95,477 $78,551 
Stock-based compensation(9,284)(7,232)(17,177)(12,970)
Amortization of intangible assets(1,102)(1,268)(2,202)(2,536)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(605)— (1,680)— 
Restructuring and other costs— — (46)— 
Non-GAAP sales and marketing$35,700 $32,291 $74,372 $63,045 
GAAP general and administrative$26,341 $24,808 $54,907 $48,746 
Stock-based compensation(10,132)(8,677)(19,151)(16,072)
Amortization of intangible assets(57)(163)(114)(326)
Expenses associated with acquisition-related contingent and deferred liabilities (1)
(57)— (562)1,004 
Transaction costs (2)
8 (530)(561)(664)
Restructuring and other costs(10)(64)(133)(236)
Asset impairments (3)
— — (1,351)— 
Non-GAAP general and administrative$16,093 $15,374 $33,035 $32,452 
Non-GAAP Operating Income
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
GAAP operating loss$(7,177)$(10,186)$(21,632)$(17,440)
Adjusted to exclude the following:
Stock-based compensation30,697 25,411 57,984 45,400 
Amortization of intangible assets2,869 2,940 5,737 5,942 
Expenses associated with acquisition-related contingent and deferred liabilities (1)
1,267 — 3,922 (1,004)
Transaction costs (2)
(8)530 561 664 
Restructuring and other costs85 230 693 460 
Asset impairments (3)
— — 1,351 — 
Non-GAAP operating income$27,733 $18,925 $48,616 $34,022 
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Non-GAAP Net Income
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
GAAP net loss$(5,934)$(10,217)$(20,287)$(14,737)
Adjusted to exclude the following:
Stock-based compensation30,697 25,411 57,984 45,400 
Amortization of intangible assets2,869 2,940 5,737 5,942 
Expenses associated with acquisition-related contingent and deferred liabilities (1)
1,267 — 3,922 (1,004)
Transaction costs (2)
(8)530 561 664 
Restructuring and other costs85 230 693 460 
Foreign currency impact from dissolution of subsidiary— — 799 — 
Asset impairments (3)
— — 1,351 — 
Income tax effect of non-GAAP adjustments(1,425)(1,489)(2,549)(2,513)
Non-GAAP net income$27,551 $17,405 $48,211 $34,212 
GAAP net loss per share, basic and diluted$(0.07)$(0.13)$(0.25)$(0.19)
Non-GAAP net income per share, diluted$0.33 $0.21 $0.57 $0.41 
Weighted-average shares used to compute GAAP net loss per share, basic and diluted81,04878,11881,46576,861
Weighted-average shares used to compute non-GAAP net income per share, diluted83,25483,91083,84882,724
Free Cash Flow
Three Months Ended December 31,Six Months Ended December 31,
2025202420252024
Net cash provided by operating activities$22,881 $25,239 $36,676 $49,685 
Adjusted for the following cash outlay:
Purchases of property and equipment(664)(62)(1,222)(416)
Free cash flow$22,217 $25,177 $35,454 $49,269 
(1)Consists of incremental costs, which may include, fair value adjustments on contingent liabilities and compensation expenses related to compensation arrangements entered into concurrent with the closing of an acquisition that will become payable, if at all, only upon the achievement of certain performance milestones.
(2)Consists of costs related to a legal settlement incurred in connection with an acquisition, acquisition-related transaction costs and acquisition termination costs.
(3) Consists of impairment costs related to capitalized cloud computing implementation costs from our digital transformation initiative.
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