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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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