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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.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Total Subscriptions Revenue
CapyFin.comCloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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