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Appian
🇺🇸 NASDAQ:APPN
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Sep 30, 2020

Appian Q3 2020 Earnings Report

Appian's Q3 2020 results were announced, demonstrating revenue growth and exceeding expectations.

Key Takeaways

Appian announced its Q3 2020 financial results, reporting a 17% increase in total revenue to $77.3 million and a 40% increase in cloud subscription revenue to $34.3 million. The company's GAAP net loss was $(3.6) million, or $(0.05) per share, while non-GAAP net loss was $(34,000), or $(0.00) per share. Appian exceeded its guidance and reached an all-time high for gross profit margin.

Cloud subscription revenue increased 40% year-over-year to $34.3 million.

Total subscriptions revenue increased 34% year-over-year to $50.8 million.

Total revenue was $77.3 million, up 17% compared to the third quarter of 2019.

GAAP net loss was $(3.6) million, compared to $(14.7) million for the third quarter of 2019.

Total Revenue
$77.3M
Previous year: $69.4M
+11.4%
EPS
-$0.0517
Previous year: -$0.14
-63.1%
Cloud Sub. Rev. Retention Rate
115%
Gross Profit
$55.8M
Cash and Equivalents
$251M
Free Cash Flow
-$6.85M
Total Assets
$492M

Appian

Appian

Appian Revenue by Segment

Forward Guidance

Appian provided guidance for the fourth quarter and full year 2020.

Positive Outlook

  • Cloud subscription revenue is expected to be in the range of $35.0 million and $35.5 million, representing year-over-year growth of between 33% and 35%.
  • Total revenue is expected to be in the range of $73.0 million and $74.0 million, representing a year-over-year increase of between 6% and 8%.
  • Cloud subscription revenue is expected to be in the range of $127.3 million and $127.8 million, representing year-over-year growth of 34%.
  • Total revenue is expected to be in the range of $296.0 million and $297.0 million, representing a year-over-year increase of 14%.
  • This assumes 70.5 million weighted average common shares outstanding.

Challenges Ahead

  • Adjusted EBITDA loss is expected to be in the range of $(11.0) million and $(10.0) million.
  • Non-GAAP net loss per share is expected to be in the range of $(0.18) and $(0.16).
  • Adjusted EBITDA loss is expected to be in the range of $(24.0) million and $(23.0) million.
  • Non-GAAP net loss per share is expected to be in the range of $(0.42) and $(0.40).
  • This assumes 69.1 million weighted average common shares outstanding.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Appian