The article says Intapp's "compliant AI" for law firms cuts computing costs: its Celeste service filters requests, sending only questions that need deep AI analysis to the model and answering simpler ones from existing databases or trusted sources. CEO John Hall said many AI tools send every question to the model, driving up token spend. On the financial side, legacy license revenue fell 21% last quarter, while cloud-based annual recurring revenue rose 28% year over year to $515.3 million. Total sales were $600 million over the last four quarters, with a trailing free cash flow margin of 25%, a gross margin of 70.5%, and a return on equity of 114.8%. The stock has a beta of 0.33 and trades at 20 times forward earnings estimates.
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