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Dec 31, 2023
Appian Q4 2023 Earnings Report
Appian's Q4 2023 financial results were announced, showcasing revenue growth and improved profitability.
Key Takeaways
Appian reported a 16% increase in total revenue, reaching $145.3 million, with cloud subscription revenue up by 26% year-over-year. The company significantly reduced its operating loss and achieved its highest quarterly gross margin in its public history.
Total revenue increased by 16% year-over-year to $145.3 million.
Cloud subscription revenue grew by 26% year-over-year to $83.1 million.
GAAP operating loss improved to $(16.8) million, compared to $(40.6) million in Q4 2022.
GAAP net loss was $(10.0) million, an improvement from $(34.4) million in Q4 2022.
Appian
Appian
Appian Revenue by Segment
Revenue by Segment
Cloud Subscriptions Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Appian provided guidance for Q1 2024 and full year 2024, expecting continued growth in cloud subscription revenue and total revenue.
Positive Outlook
- Cloud subscription revenue is expected to be between $84.0 million and $86.0 million for Q1 2024, representing year-over-year growth of 21% to 23%.
- Total revenue is expected to be between $148.0 million and $150.0 million for Q1 2024, representing a year-over-year increase of 9% to 11%.
- 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 $615.0 million and $617.0 million for full year 2024, representing a year-over-year increase of 13%.
- Adjusted EBITDA loss is expected to improve for both Q1 2024 and full year 2024 compared to previous periods.
Challenges Ahead
- Adjusted EBITDA loss is expected to be between $(9.0) million and $(5.0) million for Q1 2024.
- Non-GAAP net loss per share is expected to be between $(0.21) and $(0.16) for Q1 2024.
- Adjusted EBITDA loss is expected to be between $(25.0) million and $(20.0) million for full year 2024.
- Non-GAAP net loss per share is expected to be between $(0.73) and $(0.66) for full year 2024.
- Guidance assumes weighted average common shares outstanding of 73.5 million for Q1 2024 and 73.8 million for full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income