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Mar 31, 2023
Appian Q1 2023 Earnings Report
Appian's Q1 2023 financial results were announced, with cloud subscription revenue increasing by 31% year-over-year.
Key Takeaways
Appian's Q1 2023 saw a 31% increase in cloud subscription revenue, reaching $69.7 million. Total revenue was $135.2 million, up 18% year-over-year. The company reported a GAAP net loss of $(36.8) million, or $(0.51) per share, and a non-GAAP net loss of $(19.7) million, or $(0.27) per share.
Cloud subscription revenue increased 31% year-over-year to $69.7 million.
Total revenue increased 18% year-over-year to $135.2 million.
GAAP net loss was $(36.8) million, or $(0.51) per share.
Cloud subscription revenue retention rate was 115% as of March 31, 2023.
Revenue by Segment
Forward Guidance
Appian provided guidance for Q2 2023 and full year 2023.
Positive Outlook
- Cloud subscription revenue is expected to be between $72.0 million and $74.0 million for Q2 2023, representing year-over-year growth of 26% to 30%.
- Total revenue is expected to be between $123.0 million and $125.0 million for Q2 2023, representing a year-over-year increase of 12% to 14%.
- Cloud subscription revenue is expected to be between $296.0 million and $298.0 million for full year 2023, representing year-over-year growth of 25% to 26%.
- Total revenue is expected to be between $533.0 million and $538.0 million for full year 2023, representing a year-over-year increase of 14% to 15%.
- Non-GAAP net loss per share is expected to be between $(0.46) and $(0.40) for Q2 2023.
Challenges Ahead
- Adjusted EBITDA loss is expected to be between $(30.0) million and $(26.0) million for Q2 2023.
- Non-GAAP net loss per share is expected to be between $(1.16) and $(1.09) for full year 2023.
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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