Loading...
•
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.
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 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.
- Full Year 2023 Guidance: Non-GAAP net loss per share is expected to be between $(1.16) and $(1.10).
- Full Year 2023 Guidance: Adjusted EBITDA loss is expected to be between $(67.0) million and $(63.0) million.
- Third Quarter 2023 Guidance: Adjusted EBITDA loss is expected to be between $(16.0) million and $(12.0) million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income