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Mar 31, 2021
Appian Q1 2021 Earnings Report
Appian's financial performance exceeded expectations, with cloud subscription revenue growing significantly and a new high mark set for gross profit margin.
Key Takeaways
Appian announced its Q1 2021 financial results, exceeding guidance with a 38% increase in cloud subscription revenue and a new high for gross profit margin. Total revenue increased by 13% year-over-year. The company reported a GAAP net loss of $(13.6) million, or $(0.19) per share, and a non-GAAP net loss of $(4.0) million, or $(0.06) per share.
Cloud subscription revenue increased 38% year-over-year to $39.1 million.
Total subscriptions revenue increased 26% year-over-year to $63.8 million.
Total revenue was $88.9 million, up 13% compared to the first quarter of 2020.
Cloud subscription revenue retention rate was 118% as of March 31, 2021.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Cloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Appian provided guidance for Q2 2021 and full year 2021.
Positive Outlook
- Cloud subscription revenue is expected to be in the range of $41.0 million and $41.5 million for Q2 2021, representing year-over-year growth of between 39% and 40%.
- Total revenue is expected to be in the range of $77.0 million and $78.0 million for Q2 2021, representing a year-over-year increase of between 15% and 17%.
- Cloud subscription revenue is expected to be in the range of $171.0 million and $172.0 million for full year 2021, representing year-over-year growth of between 32% and 33%.
- Total revenue is expected to be in the range of $353.0 million and $355.0 million for full year 2021, representing a year-over-year increase of between 16% and 17%.
- Management will present at the 16th Annual Needham Virtual Technology & Media Conference on May 17th.
Challenges Ahead
- Adjusted EBITDA loss is expected to be in the range of $(16.0) million and $(14.0) million for Q2 2021.
- Non-GAAP net loss per share is expected to be in the range of $(0.26) and $(0.23) for Q2 2021, assuming weighted average common shares outstanding of 71.0 million.
- Adjusted EBITDA loss is expected to be in the range of $(38.0) million and $(36.0) million for full year 2021.
- Non-GAAP net loss per share is expected to be in the range of $(0.68) and $(0.65) for full year 2021, assuming weighted average common shares outstanding of 71.2 million.
- Appian's future performance is subject to risks and uncertainties, including the ability to grow its business, sustain revenue growth, and maintain market acceptance of its platform.
Revenue & Expenses
Visualization of income flow from segment revenue to net income