Intapp, Inc. (INTA) stock plummeted around 12% in Wednesday's pre-market trading session, 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 disappointing revenue guidance for the fiscal third quarter and full year weighed heavily on investor sentiment.
For the fiscal third quarter, Intapp expects revenue between $84 million and $85 million, significantly lower than the consensus estimate of $88.7 million. 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.
The reduced guidance figures fell short of analysts' expectations, prompting a sharp sell-off in Intapp's stock during pre-market trading. Investors reacted negatively to the company's muted outlook, as concerns mounted over its ability to sustain revenue growth momentum in the near future.
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