F

Intapp, Inc. — Earnings Quality Grade F

INTA · Technology

Major red flags

Revenue
$504M
2025
Net Income
-$18M
2025
Gross Margin
74.0%
Free Cash Flow
$114M
01

Screening Summary

13
Passed
2
Watch
2
Failed
-3.28
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 65 days, change -16 days YoY

A2AR vs Revenue Growth

AR growth -5.7% vs revenue growth 17.1%

A3Revenue vs CFFO

Revenue 17.1%, CFFO 83.7%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

B2CapEx vs Revenue

CapEx growth 2.1% vs revenue 17.1%. Normal

!
B3SG&A Ratio

SG&A/Gross Profit = 70.4%, exceeds 70%

B4Gross Margin

Gross margin 74.0%, change +2.7pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO < Net Income for 3 consecutive years

Small-cap context: Small-cap CFFO/NI often diverges from working-capital swings, not necessarily manipulation.

C2Free Cash Flow

FCF $0.1B, FCF/NI = -6.28

C3Accruals Ratio

Accruals ratio = -15.9%. Low accruals

C4Cash vs Debt

Cash $0.3B covers debt $0.0B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.4B = 71% of equity. Over 50%

D2Leverage

Debt/EBITDA = -3.5x. Healthy

!
D3Soft Asset Growth

Other assets grew 76.1% vs revenue 17.1%

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change 12% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -3.28 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-3.28
-4.0 Clean-2.22 Grey-1.78 Danger0
0.805
DSRI
AR growing faster than revenue?
0.963
GMI
Gross margin declining?
0.93
AQI
Asset quality deteriorating?
1.171
SGI
Revenue growth rate
0.98
DEPI
Depreciation slowing?
0.995
SGAI
SG&A ratio changing?
-0.1585
TATA
Accruals level
0.954
LVGI
Leverage increasing?
05

Altman Z-Score

0.19
Distress Zone
0 Distress1.102.605.0+ Safe
0.1186
Liquidity
-0.5652
Cumulative profit
-0.0306
Operating efficiency
1.3883
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25