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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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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