Recent News
Nov 4, 2025 — Company announced availability of the Intapp Time Horizon generative-AI release and disclosed new partnerships with Alphastream and Lexsoft. Nov 4, 2025 — Management repurchased $50 million of common stock during the first quarter. Management scheduled a presentation at the UBS Global Technology and AI Conference on Dec 2, 2025.
Technical Analysis
Directional indicators present a strong trend environment: ADX at 34.25 signals a strong trend, while DI- (34.12, increasing) dominates DI+ (15.46, dip & reversal). That combination implies directional pressure toward lower prices until DI+ sustains a follow-through rise; given the valuation marked over-valued, the dominant negative directional index aligns with near-term downside bias against valuation levels.
MACD at -1.59 with a decreasing MACD_trend and a signal line at -1.01 shows bearish momentum. MACD below its signal line reinforces momentum-based downward pressure and reduces the likelihood of a sustained bullish breakout without a clear MACD reversal or cross above the signal line.
MRO sits at -4.38 and trending lower, which indicates price currently below WMDST’s regression target and therefore latent upside via mean reversion; however, the strengthening negative MRO trend suggests that any reversion may require stabilization of other momentum measures first.
RSI at 44.7 and decreasing registers below neutral, indicating weakening buying momentum. Short-term moving averages sit above the last close: the 12-day EMA at $39.10 (decreasing), the 20-day average at $39.66, the 50-day average at $42.72 and the 200-day average at $45.51; price at $36.50 therefore trades below key moving averages, reinforcing short-to-intermediate bearish bias until price reclaims those levels.
Ichimoku components place price below the Tenkan-Sen ($40.63) and Kijun-Sen ($42.14) with the cloud roughly between $40.85–$42.70, which acts as overhead resistance into any recovery. Bollinger band mid-region centers near the 20-day average, with the lower 1x standard deviation at $36.85 and lower 2x at $34.04; proximity to the lower band increases odds of short-term mean reversion but only if momentum indicators stabilize.
Fundamental Analysis
Revenue totaled $139,027,000, with YoY revenue growth at 2.95% and a QoQ contraction of 36.18%. Gross margin reached 74.68%, slightly above the industry peer mean of 72.52% and near the industry peer median of 69.05%, supporting strong unit economics on core offerings.
Operating and EBIT results remain negative: EBIT at -$14,455,000 with an EBIT margin of -10.40%, versus an industry peer mean EBIT margin of 36.22% and median of 45.06%. EBIT margin QoQ improved by 233.13% and improved YoY by 70.28%, yet the absolute negative margin contrasts sharply with peer profitability benchmarks and underpins valuation pressure.
EPS actual stood at -$0.18 against an estimate of -$0.11, producing an EPS surprise of -63.64%. EBITDA registered at -$8,453,000 and net income at -$14,353,000, reinforcing ongoing GAAP-level losses despite positive cash generation.
Cash and liquidity present strength: cash and short-term investments totaled $273,437,000 and operating cash flow equaled $13,795,000. Free cash flow measured $10,943,000, yielding a free-cash-flow yield of 0.32%, though that yield contracted QoQ by 66.03% and free cash flow growth showed a sharp QoQ decline. Current ratio at 1.23 sits below the industry peer mean current ratio of 1.70, while debt remains minimal with total debt $16,115,000 and debt-to-assets at 1.96% (well below the industry peer mean of 17.15%).
Returns remained negative: return on assets -1.67% and return on equity -2.95%, though both show strong QoQ percentage improvements. Research and development outlay reached $40,934,000, reflecting continued investment in product and AI capabilities that drive cloud ARR expansion.
Valuation context: WMDST values the stock as over-valued. Market multiples reflect that premium: price-to-earnings near 173.4x and price-to-sales at 24.46x. Those multiples, coupled with negative operating margins and an ongoing path to GAAP profitability, create a wide valuation gap between current market pricing and fundamental profit metrics.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-04 |
| NEXT REPORT DATE: | 2026-02-03 |
| CASH FLOW | Begin Period Cash Flow | $ 313.3 M |
| Operating Cash Flow | $ 13.8 M | |
| Capital Expenditures | $ -2.85 M | |
| Change In Working Capital | $ -8.14 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -39.67 M | |
| End Period Cash Flow | $ 273.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 139.0 M | |
| Forward Revenue | $ -69.99 M | |
| COSTS | ||
| Cost Of Revenue | $ 35.2 M | |
| Depreciation | $ 6.0 M | |
| Depreciation and Amortization | $ 6.0 M | |
| Research and Development | $ 40.9 M | |
| Total Operating Expenses | $ 153.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 103.8 M | |
| EBITDA | $ -8.45 M | |
| EBIT | $ -14.46 M | |
| Operating Income | $ -14.46 M | |
| Interest Income | $ 1.1 M | |
| Interest Expense | — | |
| Net Interest Income | $ 1.1 M | |
| Income Before Tax | $ -13.40 M | |
| Tax Provision | $ 957.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ -14.35 M | |
| Net Income From Continuing Operations | $ -14.35 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.11 | |
| EPS Actual | $ -0.18 | |
| EPS Difference | $ -0.07 | |
| EPS Surprise | -63.636 % | |
| Forward EPS | $ 0.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 823.3 M | |
| Intangible Assets | $ 363.9 M | |
| Net Tangible Assets | $ 122.4 M | |
| Total Current Assets | $ 384.3 M | |
| Cash and Short-Term Investments | $ 273.4 M | |
| Cash | $ 273.4 M | |
| Net Receivables | $ 60.9 M | |
| Inventory | — | |
| Long-Term Investments | $ 11.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 19.8 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 311.5 M | |
| Net Debt | — | |
| Total Debt | $ 16.1 M | |
| Total Liabilities | $ 336.9 M | |
| EQUITY | ||
| Total Equity | $ 486.4 M | |
| Retained Earnings | $ -569.77 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.95 | |
| Shares Outstanding | 81.694 M | |
| Revenue Per-Share | $ 1.70 | |
| VALUATION | Market Capitalization | $ 3.4 B |
| Enterprise Value | $ 3.1 B | |
| Enterprise Multiple | -371.81 | |
| Enterprise Multiple QoQ | -118.467 % | |
| Enterprise Multiple YoY | -83.047 % | |
| Enterprise Multiple IPRWA | high: 725.943 mean: 90.746 median: 78.121 INTA: -371.81 low: -500.562 |
|
| EV/R | 22.606 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.693 | |
| Asset To Liability | 2.444 | |
| Debt To Capital | 0.032 | |
| Debt To Assets | 0.02 | |
| Debt To Assets QoQ | 8.602 % | |
| Debt To Assets YoY | -22.001 % | |
| Debt To Assets IPRWA | high: 1.164 mean: 0.172 median: 0.095 INTA: 0.02 low: 0.001 |
|
| Debt To Equity | 0.033 | |
| Debt To Equity QoQ | 6.871 % | |
| Debt To Equity YoY | -21.362 % | |
| Debt To Equity IPRWA | high: 2.803 mean: 0.29 median: 0.167 INTA: 0.033 low: -1.761 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.991 | |
| Price To Book QoQ | -3.252 % | |
| Price To Book YoY | -12.694 % | |
| Price To Book IPRWA | high: 32.156 mean: 12.36 median: 10.455 INTA: 6.991 low: -17.466 |
|
| Price To Earnings (P/E) | 173.423 | |
| Price To Earnings QoQ | -1.119 % | |
| Price To Earnings YoY | -20.498 % | |
| Price To Earnings IPRWA | high: 535.496 INTA: 173.423 mean: 145.636 median: 137.28 low: -396.374 |
|
| PE/G Ratio | -15.608 | |
| Price To Sales (P/S) | 24.457 | |
| Price To Sales QoQ | -12.067 % | |
| Price To Sales YoY | -17.927 % | |
| Price To Sales IPRWA | high: 95.267 median: 48.871 mean: 45.874 INTA: 24.457 low: 1.307 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 191.789 | |
| Forward PE/G | -17.261 | |
| Forward P/S | -73.14 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 82.263 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.162 | |
| Asset Turnover Ratio QoQ | 2.365 % | |
| Asset Turnover Ratio YoY | 0.528 % | |
| Asset Turnover Ratio IPRWA | high: 0.414 INTA: 0.162 mean: 0.127 median: 0.124 low: -0.008 |
|
| Receivables Turnover | 1.846 | |
| Receivables Turnover Ratio QoQ | 3.002 % | |
| Receivables Turnover Ratio YoY | 22.109 % | |
| Receivables Turnover Ratio IPRWA | high: 6.055 INTA: 1.846 mean: 1.478 median: 1.265 low: -0.167 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 49.425 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 0.803 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 226.004 INTA: 0.803 mean: -22.592 median: -38.513 low: -211.399 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.909 | |
| CapEx To Revenue | -0.021 | |
| CapEx To Depreciation | -0.475 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 486.4 M | |
| Net Invested Capital | $ 486.4 M | |
| Invested Capital | $ 486.4 M | |
| Net Tangible Assets | $ 122.4 M | |
| Net Working Capital | $ 72.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.878 | |
| Current Ratio | 1.234 | |
| Current Ratio QoQ | -5.316 % | |
| Current Ratio YoY | -5.452 % | |
| Current Ratio IPRWA | high: 8.127 mean: 1.704 median: 1.401 INTA: 1.234 low: 0.159 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -1.906 | |
| Cost Of Debt | 16.776 % | |
| Interest Coverage Ratio | -4.224 | |
| Interest Coverage Ratio QoQ | 242.941 % | |
| Interest Coverage Ratio YoY | 99.27 % | |
| Interest Coverage Ratio IPRWA | high: 225.0 median: 50.142 mean: 37.772 INTA: -4.224 low: -266.667 |
|
| Operating Cash Flow Ratio | 0.076 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 48.622 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.929 % | |
| Revenue Growth | 2.953 % | |
| Revenue Growth QoQ | -36.179 % | |
| Revenue Growth YoY | -23.735 % | |
| Revenue Growth IPRWA | high: 28.215 % mean: 3.107 % INTA: 2.953 % median: 1.612 % low: -13.442 % |
|
| Earnings Growth | -11.111 % | |
| Earnings Growth QoQ | -98.566 % | |
| Earnings Growth YoY | -127.778 % | |
| Earnings Growth IPRWA | high: 200.0 % mean: 5.03 % median: 1.918 % INTA: -11.111 % low: -181.25 % |
|
| MARGINS | ||
| Gross Margin | 74.684 % | |
| Gross Margin QoQ | -0.103 % | |
| Gross Margin YoY | 2.138 % | |
| Gross Margin IPRWA | high: 90.981 % INTA: 74.684 % mean: 72.522 % median: 69.046 % low: 26.432 % |
|
| EBIT Margin | -10.397 % | |
| EBIT Margin QoQ | 233.13 % | |
| EBIT Margin YoY | 70.275 % | |
| EBIT Margin IPRWA | high: 76.323 % median: 45.059 % mean: 36.219 % INTA: -10.397 % low: -105.646 % |
|
| Return On Sales (ROS) | -10.397 % | |
| Return On Sales QoQ | 233.13 % | |
| Return On Sales YoY | 70.275 % | |
| Return On Sales IPRWA | high: 76.795 % median: 48.873 % mean: 37.553 % INTA: -10.397 % low: -133.444 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 10.9 M | |
| Free Cash Flow Yield | 0.322 % | |
| Free Cash Flow Yield QoQ | -66.034 % | |
| Free Cash Flow Yield YoY | -49.451 % | |
| Free Cash Flow Yield IPRWA | high: 10.114 % median: 0.676 % mean: 0.479 % INTA: 0.322 % low: -10.76 % |
|
| Free Cash Growth | -69.253 % | |
| Free Cash Growth QoQ | -1011.104 % | |
| Free Cash Growth YoY | 567.563 % | |
| Free Cash Growth IPRWA | high: 368.524 % median: 0.372 % mean: -7.37 % INTA: -69.253 % low: -324.945 % |
|
| Free Cash To Net Income | -0.762 | |
| Cash Flow Margin | 17.049 % | |
| Cash Flow To Earnings | -1.651 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.671 % | |
| Return On Assets QoQ | 2595.161 % | |
| Return On Assets YoY | 172.594 % | |
| Return On Assets IPRWA | high: 13.583 % median: 4.421 % mean: 3.726 % INTA: -1.671 % low: -19.283 % |
|
| Return On Capital Employed (ROCE) | -2.824 % | |
| Return On Equity (ROE) | -0.03 | |
| Return On Equity QoQ | 2793.137 % | |
| Return On Equity YoY | 188.748 % | |
| Return On Equity IPRWA | high: 0.151 median: 0.076 mean: 0.065 INTA: -0.03 low: -0.395 |
|
| DuPont ROE | -2.853 % | |
| Return On Invested Capital (ROIC) | -2.348 % | |
| Return On Invested Capital QoQ | 266.303 % | |
| Return On Invested Capital YoY | -196.388 % | |
| Return On Invested Capital IPRWA | high: 14.226 % median: 6.978 % mean: 5.472 % INTA: -2.348 % low: -12.344 % |
|