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Sep 30, 2023
Appian Q3 2023 Earnings Report
Appian's Q3 2023 results showed revenue growth and improved profitability.
Key Takeaways
Appian announced its Q3 2023 financial results, with total revenue reaching $137.1 million, a 16% increase year-over-year. Cloud subscription revenue grew by 27% to $77.2 million. The company's GAAP operating loss improved to $(15.2) million, and the cloud subscription revenue retention rate was 117%.
Cloud subscription revenue increased 27% year-over-year to $77.2 million.
Total revenue was $137.1 million, up 16% compared to the third quarter of 2022.
GAAP operating loss improved to $(15.2) million, compared to $(37.8) million in Q3 2022.
Cloud subscription revenue retention rate was 117% as of September 30, 2023.
Revenue by Segment
Forward Guidance
Appian provided guidance for Q4 2023 and full year 2023.
Positive Outlook
- Cloud subscription revenue is expected to be between $78.6 million and $79.6 million for Q4 2023, representing year-over-year growth of 19% to 21%.
- Total revenue is expected to be between $138.0 million and $143.0 million for Q4 2023, representing a year-over-year increase of 10% to 14%.
- Cloud subscription revenue is expected to be between $300.0 million and $301.0 million for full year 2023, representing year-over-year growth of 27%.
- Total revenue is expected to be between $538.0 million and $543.0 million for full year 2023, representing a year-over-year increase of 15% to 16.
- Adjusted EBITDA loss is expected to be between $(16.1) million and $(12.1) million for Q4 2023.
Challenges Ahead
- Adjusted EBITDA loss is expected to be between $(16.1) million and $(12.1) million for Q4 2023.
- Non-GAAP net loss per share is expected to be between $(0.29) and $(0.24) for Q4 2023, 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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