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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.
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 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