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Mar 31, 2024
Appian Q1 2024 Earnings Report
Appian's first quarter results for 2024 showed revenue growth and a reduction in operating loss.
Key Takeaways
Appian's first quarter 2024 results showed a revenue of $149.8 million, up 11% year-over-year. Cloud subscription revenue increased 24% year-over-year to $86.6 million. The GAAP operating loss was reduced to $(19.5) million, compared to $(35.3) million for the first quarter of 2023.
Cloud subscription revenue increased 24% year-over-year to $86.6 million.
Total revenue was $149.8 million, up 11% compared to the first quarter of 2023.
GAAP operating loss was $(19.5) million, compared to $(35.3) million for the first quarter of 2023.
Cloud subscription revenue retention rate was 120% as of March 31, 2024.
Revenue by Segment
Forward Guidance
Appian provided guidance for the second quarter and full year of 2024.
Positive Outlook
- Cloud subscription revenue is expected to be between $86.0 million and $88.0 million for Q2 2024, representing year-over-year growth of 16% to 18%.
- Total revenue is expected to be between $140.0 million and $144.0 million for Q2 2024, representing a year-over-year increase of 10% to 13%.
- Cloud subscription revenue is expected to be between $364.0 million and $366.0 million for full year 2024, representing year-over-year growth of 20%.
- Total revenue is expected to be between $615.0 million and $617.0 million for full year 2024, representing a year-over-year increase of 13%.
- Adjusted EBITDA loss is expected to be between $(22.5) million and $(17.5) million for full year 2024.
Challenges Ahead
- Adjusted EBITDA loss is expected to be between $(17.0) million and $(13.0) million for Q2 2024.
- Non-GAAP net loss per share is expected to be between $(0.34) and $(0.28) for Q2 2024, assuming weighted average common shares outstanding of 72.3 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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