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Appian
🇺🇸 NASDAQ:APPN
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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.

Total Revenue
$135M
Previous year: $114M
+18.4%
EPS
-$0.27
Previous year: -$0.06
+350.0%
Cloud Sub. Rev. Retention Rate
115%
Previous year: 117%
-1.7%
Gross Profit
$99.1M
Previous year: $83.4M
+18.9%
Cash and Equivalents
$199M
Previous year: $107M
+86.0%
Free Cash Flow
-$29.7M
Previous year: -$24M
+23.7%
Total Assets
$645M
Previous year: $503M
+28.3%

Appian

Appian

Appian 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.
  • Full year adjusted EBITDA loss is expected to be between $(70.0) million and $(65.0) million.
  • GAAP operating loss was $(35.3) million, compared to $(23.9) million for the first quarter of 2022.
  • GAAP net loss was $(36.8) million, compared to $(23.2) million for the first quarter of 2022.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Appian