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Jun 30, 2023
Appian Q2 2023 Earnings Report
Appian's financial performance in Q2 2023 reflected growth in cloud subscriptions and overall revenue, alongside a reduced GAAP net loss year-over-year.
Key Takeaways
Appian announced its Q2 2023 financial results, featuring a 30% year-over-year increase in cloud subscription revenue, reaching $74.4 million. Total revenue increased by 16% compared to the second quarter of 2022. The company's GAAP net loss was $(42.4) million, an improvement over the $(49.4) million net loss in the same period last year.
Cloud subscription revenue increased by 30% year-over-year, reaching $74.4 million.
Total subscriptions revenue increased 22% year-over-year to $93.8 million.
Total revenue was $127.7 million, up 16% compared to the second quarter of 2022.
GAAP net loss improved to $(42.4) million, compared to $(49.4) million in the second quarter of 2022.
Revenue by Segment
Forward Guidance
Appian provided guidance for the third quarter and full year 2023.
Positive Outlook
- Cloud subscription revenue for Q3 2023 is expected to be between $75.5 million and $76.5 million, representing a 25% to 26% year-over-year growth.
- Total revenue for Q3 2023 is expected to be between $134.0 million and $136.0 million, representing a 14% to 15% year-over-year increase.
- Cloud subscription revenue for full year 2023 is expected to be between $299.0 million and $301.0 million, representing a 26% to 27% year-over-year growth.
- Total revenue for full year 2023 is expected to be between $538.0 million and $543.0 million, representing a 15% to 16% year-over-year increase.
- Adjusted EBITDA loss for full year 2023 is expected to be between $(67.0) million and $(63.0) million.
Challenges Ahead
- Adjusted EBITDA loss for Q3 2023 is expected to be between $(16.0) million and $(12.0) million.
- Non-GAAP net loss per share for Q3 2023 is expected to be between $(0.28) and $(0.23), assuming weighted average common shares outstanding of 73.3 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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