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Appian
🇺🇸 NASDAQ:APPN
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•
Mar 31, 2020

Appian Q1 2020 Earnings Report

Appian's Q1 2020 results showed strong subscription revenue growth and overall revenue increase, driven by demand for digital transformation and automation.

Key Takeaways

Appian's Q1 2020 saw a 31% year-over-year increase in total revenue, reaching $78.9 million, with subscriptions revenue growing by 46% to $50.4 million. The company reported a GAAP net loss of $11.7 million, or $0.17 per share, and a non-GAAP net loss of $8.2 million, or $0.12 per share. Cloud subscription revenue retention rate was 115% as of March 31, 2020.

Total revenue increased 31% year-over-year to $78.9 million.

Subscriptions revenue grew 46% year-over-year to $50.4 million.

Cloud subscription revenue increased 33% year-over-year to $28.4 million.

GAAP net loss was $(11.7) million, or $(0.17) per share.

Total Revenue
$78.9M
Previous year: $59.6M
+32.4%
EPS
-$0.12
Previous year: -$0.16
-25.0%
Cloud Sub. Rev. Retention Rate
115%
Gross Profit
$54.7M
Cash and Equivalents
$149M
Free Cash Flow
-$4.06M
Total Assets
$359M

Appian

Appian

Appian Revenue by Segment

Forward Guidance

Appian provided guidance for the second quarter of 2020, expecting cloud subscription revenue between $28.4 million and $28.7 million, and total revenue between $60.0 million and $61.0 million. They withdrew the full year 2020 guidance.

Positive Outlook

  • Cloud subscription revenue is expected to be in the range of $28.4 million and $28.7 million, representing year-over-year growth of between 25% and 26%.
  • Total revenue is expected to be in the range of $60.0 million and $61.0 million.
  • Adjusted EBITDA loss is expected to be in the range of $(16.0) million and $(14.0) million.
  • Non-GAAP net loss per share is expected to be in the range of $(0.26) and $(0.23).
  • Assumes 67.7 million weighted average common shares outstanding.

Challenges Ahead

  • Total revenue is expected to be in the range of $60.0 million and $61.0 million, representing year-over-year decrease of between 8% and 7%.
  • Adjusted EBITDA loss is expected to be in the range of $(16.0) million and $(14.0) million.
  • Non-GAAP net loss per share is expected to be in the range of $(0.26) and $(0.23).
  • Appian is withdrawing the full year 2020 guidance it provided on February 20, 2020 for cloud subscription revenue, total revenue, adjusted EBITDA, and non-GAAP net loss per share.
  • Uncertainty regarding the duration of COVID-19 and its impact on the global economy.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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