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Mar 31, 2022
Appian Q1 2022 Earnings Report
Appian's Q1 2022 results exceeded expectations with strong cloud subscription revenue growth and a well-attended annual conference.
Key Takeaways
Appian announced its Q1 2022 financial results, reporting a 29% increase in total revenue, driven by a 37% increase in cloud subscription revenue. The company exceeded its guidance for the quarter and saw a strong community turnout at its annual conference.
Cloud subscription revenue increased 37% year-over-year to $53.4 million.
Total subscriptions revenue increased 31% year-over-year to $83.7 million.
Total revenue was $114.3 million, up 29% compared to the first quarter of 2021.
Cloud subscription revenue retention rate was 117% as of March 31, 2022.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Cloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Appian provided guidance for the second quarter and full year 2022.
Positive Outlook
- Second quarter cloud subscription revenue is expected to be in the range of $55.8 million and $56.3 million, representing year-over-year growth of between 31% and 32%.
- Second quarter total revenue is expected to be in the range of $102.8 million and $104.8 million, representing a year-over-year increase of between 24% and 26%.
- Full year cloud subscription revenue is expected to be in the range of $236.0 million and $238.0 million, representing year-over-year growth of between 32% and 33%.
- Full year total revenue is expected to be in the range of $453.0 million and $457.0 million, representing a year-over-year increase of between 23% and 24%.
- SkillStorm will provide an exclusive pipeline of custom-trained and certified Appian Developers at high scale.
Challenges Ahead
- Second quarter adjusted EBITDA loss is expected to be in the range of $(25.0) million and $(22.0) million.
- Second quarter non-GAAP net loss per share is expected to be in the range of $(0.37) and $(0.33), assuming weighted average common shares outstanding of 72.4 million.
- Full year adjusted EBITDA loss is expected to be in the range of $(53.0) million and $(50.0) million.
- Full year non-GAAP net loss per share is expected to be in the range of $(0.82) and $(0.77), assuming weighted average common shares outstanding of 72.5 million.
- GAAP operating loss was $(23.9) million for the first quarter of 2022, compared to $(10.5) million for the first quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income