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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.
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 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