Intapp, Inc. (INTA) saw its stock price plummet by a significant 15.20% in pre-market trading on Wednesday, following the company's fiscal second-quarter earnings report.
While the software developer reported better-than-expected earnings for the quarter ended December 31, the primary driver behind the sharp sell-off was the company's disappointing revenue guidance for the fiscal third quarter and full year.
For the fiscal third quarter, Intapp expects revenue between $84 million and $85 million, substantially lower than the consensus estimate of $88.7 million. Furthermore, the company also lowered its full-year revenue guidance to a range of $328.8 million to $332.8 million, down from its previous forecast of $335 million to $340 million. These reduced guidance figures fell short of analysts' expectations, raising concerns among investors regarding Intapp's ability to sustain revenue growth momentum in the near future.
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