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Appian
🇺🇸 NASDAQ:APPN
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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.

Total Revenue
$150M
Previous year: $135M
+10.8%
EPS
-$0.24
Previous year: -$0.27
-11.1%
Cloud Sub. Rev. Retention Rate
120%
Previous year: 115%
+4.3%
Gross Profit
$109M
Previous year: $99.1M
+9.6%
Cash and Equivalents
$170M
Previous year: $199M
-14.4%
Free Cash Flow
$16.7M
Previous year: -$29.7M
-156.1%
Total Assets
$595M
Previous year: $645M
-7.7%

Appian

Appian

Appian 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.
  • Non-GAAP net loss per share is expected to be between $(0.85) and $(0.79) for full year 2024, assuming weighted average common shares outstanding of 72.6 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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