New enhancements scale high-volume workflows and increase efficiency and analysis with AI MCLEAN, Va., Dec. 3, 2024 /PRNewswire/ -- Appian (Nasdaq: APPN) today announced its latest platform release, which delivers process automation powered by enterprise AI. Appian helps organizations design, automate, and optimize business processes and this release introduces new features across the platform, making it faster and easier to understand, interact with, and explore data within applications. This release intro ...

The price trend for Appian (APPN) has been bearish lately and the stock has lost 9.3% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about ...

Appian (APPN) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Individual ...

Appian just posted one of its best quarters as a public company.Appian (APPN -1.23%) has had a roller-coaster ride as a publicly traded company. After soaring in the early stages of the pandemic on high hopes for its low-code technology, the stock fell sharply in 2021. It has stayed down since then as software stocks have been generally under pressure following a "tech recession" in 2022, and slow growth since then.During that time, Appian has evolved into an artificial intelligence (AI)-based process autom ...

Appian (APPN) reported $154.05 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 12.4%. EPS of $0.15 for the same period compares to -$0.20 a year ago.The reported revenue represents a surprise of +2.07% over the Zacks Consensus Estimate of $150.94 million. With the consensus EPS estimate being -$0.09, the EPS surprise was +266.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

Appian Corporation (NASDAQ:APPN) Q3 2024 Earnings Call Transcript November 7, 2024 8:30 AM ET Company Participants Jack Andrews - Investor Relations Matt Calkins - Founder and CEO Mark Matheos - Chief Financial Officer Conference Call Participants Keith Weiss - Morgan Stanley Derrick Wood - TD Cowen Raimo Lenschow - Barclays Steve Enders - Citi Jake Roberge - William Blair Operator Hello. And welcome to the Appian Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-on ...

Revenue Performance - Cloud subscriptions revenue for the three months ended September 30, 2024, was $94,075,000, representing a 21.8% increase compared to $77,247,000 in the same period of 2023[120]. - For the nine months ended September 30, 2024, cloud subscriptions revenue reached $269,106,000, up 21.6% from $221,381,000 in 2023[120]. - Total revenue for the three months ended September 30, 2024, increased by $16.96 million, or 12.4%, to $154.05 million compared to $137.09 million in the same period in 2023, driven primarily by an increase in subscriptions revenue of $19.32 million[141]. - Total revenue increased by $50.3 million, or 12.6%, to $450.3 million for the nine months ended September 30, 2024, driven by a $57.2 million increase in subscriptions revenue[153]. - Subscriptions revenue reached $123.12 million, representing an 18.6% increase from $103.80 million in the same period last year, with a $16.8 million increase in cloud subscription revenue[141]. - Subscriptions revenue increased by $57.2 million, or 19.3%, to $353.8 million for the nine months ended September 30, 2024, while professional services revenue decreased by $6.9 million[153]. Customer Metrics - The cloud subscriptions revenue retention rate remained stable at 117% for both September 30, 2024, and 2023, indicating strong customer loyalty and expansion[121]. - For the three months ended September 30, 2024, 79.9% of total revenue was derived from subscriptions, compared to 75.7% in the same period of 2023[118]. - Revenue from U.S. federal government agencies accounted for 23.2% of total revenue for the three months ended September 30, 2024, compared to 21.1% in the same period of 2023[112]. - As of September 30, 2024, 36.3% of total revenue was generated from customers outside the United States, up from 35.3% in the same period of 2023[113]. Operating Expenses - Operating expenses are expected to increase in absolute dollars as the company invests in growing its teams, albeit at a more measured rate than prior years[130]. - Sales and marketing expenses decreased by $4.80 million, or 8.6%, to $50.87 million, primarily due to a 21% reduction in sales and marketing headcount[145]. - Research and development expenses increased to $38.57 million for the three months ended September 30, 2024, compared to $37.14 million in the same period in 2023, reflecting ongoing investment in platform enhancement[138]. - General and administrative expenses rose to $34.69 million, up from $23.44 million in the same period last year, largely due to increased costs associated with IT investments[135]. - General and administrative expense rose by $11.2 million, or 48.0%, to $34.7 million for the three months ended September 30, 2024, primarily due to a $7.7 million increase in professional fees[148]. Profitability and Loss - The company reported a net loss of $2.10 million for the three months ended September 30, 2024, an improvement from a net loss of $22.25 million in the same period in 2023[138]. - The company reported a net loss of $78.6 million for the nine months ended September 30, 2024, compared to a net loss of $25.4 million in 2023[170]. - Basic and diluted net loss per share for the nine months ended September 30, 2024, was $(1.08), compared to $(0.35) in the same period of 2023[170]. - Adjusted EBITDA is defined as net loss before other expenses, interest expense, income tax expense, depreciation, and other specified costs, providing a clearer view of operational performance[168]. Cash Flow and Investments - Cash and cash equivalents decreased to $99,193,000 as of September 30, 2024, down 24.1% from $130,761,000 as of September 30, 2023[186]. - Net cash used by operating activities was $6,993,000 for the nine months ended September 30, 2024, a significant decrease from $102,198,000 used in the same period of 2023, reflecting improved cash collections[187]. - Net cash used by investing activities was $34.3 million for the nine months ended September 30, 2024, compared to $0.9 million in net cash provided for the same period in 2023, primarily due to a $51.0 million decline in proceeds from the sale of investments[188]. - Net cash used by financing activities was $8.5 million for the nine months ended September 30, 2024, a significant decrease from $82.4 million of net cash provided in the same period in 2023, driven by a $50.0 million increase in common stock repurchases[188]. - The company has utilized $62,000,000 of its $100,000,000 revolving credit facility as of September 30, 2024, indicating active management of its capital resources[179]. Strategic Initiatives - The company plans to continue investing in its platform and infrastructure to maximize growth and meet evolving customer needs[119]. - The company plans to continue investing in sales and marketing to expand its geographical footprint and brand awareness, expecting an increase in sales and marketing expenses in absolute dollars[132]. - The company has established strategic partnerships with firms like Accenture and Deloitte to enhance customer acquisition and service delivery[110]. - The company entered into a share repurchase program in February 2024, repurchasing approximately 1.3 million shares for about $50,000,000 during the first quarter[183]. Market and Economic Risks - The company is exposed to inflation risks related to personnel costs and general overhead expenses, which may adversely affect gross profit margins if inflation pressures increase[195]. - The company is exposed to market risks primarily due to fluctuations in interest rates and foreign currency exchange rates[192]. - A 10% change in foreign currency exchange rates for the nine months ended September 30, 2024, would have impacted total revenue by approximately 4% and operating loss by approximately 6%[196]. - The company has not engaged in hedging of foreign currency transactions to date, although it may consider doing so in the future[197].

Appian (APPN) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of a loss of $0.09 per share. This compares to loss of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 266.67%. A quarter ago, it was expected that this business process management software provider would post a loss of $0.31 per share when it actually produced a loss of $0.26, delivering a surprise of 16.13%.Over the ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q3 2024 Earnings Call Presentation | | | | | | | | | | Matt Calkins, Founder & CEO | | | | | | | | | | Mark Matheos, CFO | | | | | | | | | | | | | | | | | | | Disclaimer In this presentation, we may make statements related to our business that are ...

Revenue Performance - Cloud subscription revenue increased 22% year-over-year to $94.1 million in Q3 2024[3] - Total revenue for Q3 2024 was $154.1 million, up 12% compared to Q3 2023[3] - Full year 2024 cloud subscription revenue is expected to be between $364.0 million and $366.0 million, representing year-over-year growth of 20%[8] - Total revenue for full year 2024 is expected to be between $613.0 million and $615.0 million, representing a year-over-year increase of 12% to 13%[8] - Fourth quarter 2024 cloud subscription revenue is expected to be between $95.0 million and $97.0 million, representing year-over-year growth of 14% to 17%[6] - Total revenue for the three months ended September 30, 2024, was $154,052,000, a 12.9% increase from $137,094,000 in the same period of 2023[20] - Subscription revenue increased to $123,121,000, up 18.5% from $103,803,000 year-over-year[20] Profitability Metrics - Non-GAAP net income for Q3 2024 was $11.4 million, compared to a non-GAAP net loss of $(14.6) million in Q3 2023[4] - Adjusted EBITDA for Q3 2024 was $10.8 million, compared to an adjusted EBITDA loss of $(5.3) million in Q3 2023[4] - Operating loss narrowed to $(7,157,000) for the three months ended September 30, 2024, compared to $(15,217,000) in the same quarter of 2023[20] - The adjusted EBITDA for the three months ended September 30, 2024, was $10,848, a significant improvement from an adjusted EBITDA of $(5,342) in the same period last year[25] - The total operating loss for the nine months ended September 30, 2024, was $(52,918), compared to $(91,145) in the previous year, indicating an improvement of approximately 42%[24] - The net loss for the nine months ended September 30, 2024, was $(25,352), compared to $(101,435) in the previous year, showing a significant improvement of approximately 75%[24] Cash and Assets - Cash and cash equivalents decreased to $99,193,000 as of September 30, 2024, down from $149,351,000 at the end of 2023[19] - Total assets decreased to $549,913,000 as of September 30, 2024, from $627,503,000 at the end of 2023[19] - Long-term debt increased significantly to $243,225,000 as of September 30, 2024, compared to $140,221,000 at the end of 2023[19] - Total stockholders' equity showed a deficit of $(49,801,000) as of September 30, 2024, compared to a positive equity of $52,341,000 at the end of 2023[19] Cost Management - For the three months ended September 30, 2024, the total cost of revenue was $35,548, a decrease from $37,084 in the previous quarter, reflecting a reduction of approximately 4.1%[23] - The subscriptions cost of revenue for the nine months ended September 30, 2024, was $38,973, compared to $39,614 in the previous year, showing a slight decrease of 1.6%[23] - The professional services cost of revenue for the nine months ended September 30, 2024, was $69,118, down from $74,880, reflecting a decrease of approximately 7.8%[23] - For the nine months ended September 30, 2024, the total operating expense was $350,716, down from $401,729 in the previous year, indicating a reduction of approximately 12.7%[24] Leadership and Strategic Initiatives - Appian has accelerated government procurement with AI through the new ProcureSight integration[5] - Appian appointed Mark Dorsey as Chief Revenue Officer[5] Tax and Other Expenses - The income tax expense for the three months ended September 30, 2024, was $1,436, compared to $1,319 in the previous quarter, reflecting an increase of approximately 8.9%[23] - The total cost of revenue for the three months ended September 30, 2023, was $34,323, which is a decrease from $36,069 in the previous quarter, indicating a reduction of approximately 4.9%[24] - Stock-based compensation expense for the nine months ended September 30, 2024, was $30,011,000, down from $33,215,000 in the same period of 2023[21]