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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.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Cloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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