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Appian
🇺🇸 NASDAQ:APPN
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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.

Total Revenue
$110M
Previous year: $83M
+32.6%
EPS
-$0.46
Previous year: -$0.24
+91.7%
Cloud Sub. Rev. Retention Rate
116%
Previous year: 121%
-4.1%
Gross Profit
$76.8M
Previous year: $57.2M
+34.3%
Cash and Equivalents
$76.2M
Previous year: $131M
-42.0%
Free Cash Flow
-$31M
Previous year: -$7.12M
+334.6%
Total Assets
$470M
Previous year: $494M
-4.9%

Appian

Appian

Appian Revenue by Segment

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

Company Overview

Full financial data and analysis

View Appian