Appian Corporation

Latest Results (14.08.2024):

Revenue Growth

Appian Corporation reported a significant increase in its cloud subscription revenue for the second quarter of 2024, reaching $88.4 million. This marks a 19% growth compared to the same quarter in 2023. Total subscriptions revenue, which includes cloud subscriptions, on-premises term license subscriptions, and maintenance and support, also saw a 20% year-over-year increase, totaling $113.0 million.

Total Revenue

For the second quarter of 2024, Appian Corporation's total revenue amounted to $146.5 million, reflecting a 15% increase from the second quarter of 2023. Despite a slight 1% decrease in professional services revenue, which stood at $33.5 million, the overall revenue growth was robust.

Operating Loss

Appian Corporation reported a GAAP operating loss of $(39.2) million for the second quarter of 2024, a slight improvement from the $(40.7) million loss in the same quarter of the previous year. On a non-GAAP basis, the operating loss was $(13.1) million, significantly better than the $(27.1) million loss reported in the second quarter of 2023.

Net Loss

In the second quarter of 2024, Appian Corporation's GAAP net loss was $(43.6) million, compared to $(42.4) million in the same period of 2023. The GAAP net loss per share was $(0.60), slightly higher than the $(0.58) per share loss in the second quarter of 2023. On a non-GAAP basis, the net loss was $(19.1) million, an improvement from the $(28.5) million loss in the previous year.

Adjusted EBITDA

Appian Corporation's adjusted EBITDA loss for the second quarter of 2024 was $(10.5) million, showing a significant improvement from the $(24.7) million loss reported in the second quarter of 2023. This improvement aligns with the company's accelerated path to profitability, as highlighted by CEO Matt Calkins.