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Appian
🇺🇸 NASDAQ:APPN
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Sep 30, 2024

Appian Q3 2024 Earnings Report

Appian's third quarter results for 2024 showed revenue growth and improved profitability.

Key Takeaways

Appian announced its Q3 2024 financial results, reporting a 12% increase in total revenue year-over-year to $154.1 million and a 22% increase in cloud subscription revenue to $94.1 million. The company's GAAP operating loss improved to $(7.2) million, and non-GAAP operating income was $8.3 million. Appian now projects positive adjusted EBITDA for the full year 2024.

Cloud subscription revenue increased by 22% year-over-year, reaching $94.1 million.

Total revenue grew by 12% compared to the third quarter of 2023, amounting to $154.1 million.

GAAP operating loss improved from $(15.2) million to $(7.2) million year-over-year.

Non-GAAP operating income was $8.3 million, a significant improvement from the non-GAAP operating loss of $(7.7) million in the third quarter of 2023.

Total Revenue
$154M
Previous year: $137M
+12.4%
EPS
$0.15
Previous year: -$0.2
-175.0%
Cloud Sub. Rev. Retention Rate
117%
Previous year: 117%
+0.0%
Gross Profit
$117M
Previous year: $101M
+15.8%
Cash and Equivalents
$99.2M
Previous year: $131M
-24.1%
Free Cash Flow
-$8.6M
Previous year: -$67.7M
-87.3%
Total Assets
$550M
Previous year: $597M
-7.9%

Appian

Appian

Appian Revenue by Segment

Forward Guidance

Appian provided guidance for Q4 2024 and full year 2024.

Positive Outlook

  • Cloud subscription revenue is expected to be between $95.0 million and $97.0 million for Q4 2024, representing year-over-year growth of 14% to 17%.
  • Total revenue is expected to be between $163.5 million and $165.5 million for Q4 2024, representing a year-over-year increase of 13% to 14%.
  • Adjusted EBITDA is expected to be between $6.0 million and $8.0 million for Q4 2024.
  • Cloud subscription revenue is expected to be between $364.0 million and $366.0 million for full year 2024, representing year-over-year growth of 20%.
  • Total revenue is expected to be between $613.0 million and $615.0 million for full year 2024, representing a year-over-year increase of 12% to 13%.

Challenges Ahead

  • Non-GAAP net loss per share is expected to be between $(0.03) and breakeven for Q4 2024, assuming weighted average common shares outstanding of 74.0 million.
  • Adjusted EBITDA is expected to be between $5.0 million and $7.0 million for full year 2024.
  • Non-GAAP net loss per share is expected to be between $(0.38) and $(0.35) for full year 2024, assuming weighted average common shares outstanding of 73.0 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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