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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.
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.
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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