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Jun 30, 2022
Appian Q2 2022 Earnings Report
Appian's Q2 2022 financial results were announced, with cloud subscription revenue increasing by 34% year-over-year.
Key Takeaways
Appian reported a 33% increase in total revenue, driven by a 34% increase in cloud subscription revenue. The company's cloud subscription revenue retention rate was 116%. However, the company experienced an increased GAAP operating loss and net loss compared to the same quarter of the previous year.
Cloud subscription revenue increased 34% year-over-year to $57.1 million.
Total revenue was $110.1 million, up 33% compared to the second quarter of 2021.
Cloud subscription revenue retention rate was 116% as of June 30, 2022.
GAAP net loss per share was $(0.68) for the second quarter of 2022.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Cloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Appian provided guidance for the third quarter and full year 2022, including expectations for cloud subscription revenue, total revenue, adjusted EBITDA loss, and non-GAAP net loss per share.
Positive Outlook
- Cloud subscription revenue is expected to be between $60.8 million and $61.3 million in Q3 2022, representing year-over-year growth of 30% to 31%.
- Total revenue is expected to be between $115.0 million and $117.0 million in Q3 2022, representing a year-over-year increase of 24% to 27%.
- Cloud subscription revenue is expected to be between $236.0 million and $238.0 million for full year 2022, representing year-over-year growth of 32% to 33%.
- Total revenue is expected to be between $466.0 million and $470.0 million for full year 2022, representing a year-over-year increase of 26% to 27.
- Non-GAAP net loss per share is expected to be between $(0.23) and $(0.20) for Q3 2022.
Challenges Ahead
- Adjusted EBITDA loss is expected to be between $(15.0) million and $(13.0) million for Q3 2022.
- Non-GAAP net loss per share is expected to be between $(0.91) and $(0.86) for full year 2022.
- Adjusted EBITDA loss is expected to be between $(53.0) million and $(50.0) million for full year 2022.
- GAAP operating loss was $(42.7) million, compared to $(24.6) million for the second quarter of 2021.
- GAAP net loss was $(49.4) million, compared to $(23.8) million for the second quarter of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income