Core Viewpoint - Appian is positioned as a strong investment opportunity due to its growth potential, robust financial performance, and attractive valuation despite recent stock price declines [1][2]. Financial Performance - Appian reported Q4 total revenue growth of 16% year-over-year, reaching $145.3 million, exceeding Wall Street expectations of $139.7 million [5]. - The company's underlying cloud subscription revenue grew 26% year-over-year, accounting for 57% of total revenue [5]. - Appian's gross margins improved to 78%, driven by a one-point increase in subscription gross margins to 91% and a favorable revenue mix [10]. Business Model and Growth Drivers - Appian operates a recurring-revenue model with a net revenue retention rate near 120%, indicating strong expansion among existing customers [2][7]. - The company is focusing on business process re-engineering, which aligns with AI advancements, and is developing its own AI automation product called Private AI [2]. - Appian has secured significant public sector contracts, including large deals with federal agencies, enhancing its market presence [2][9]. Valuation and Market Position - Appian's current market cap is approximately $2.73 billion, with an enterprise value of $2.78 billion after accounting for cash and debt [3]. - The company is guiding for total revenue of $615-$617 million for FY24, representing a 13% year-over-year growth at the midpoint [3]. - Appian trades at 4.5x EV/FY24 revenue, which is considered attractive given its growth rates and improving profitability [3][11].

Appian (APPN) reported $145.32 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 15.5%. EPS of $0.06 for the same period compares to -$0.28 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $140.41 million, representing a surprise of +3.50%. The company delivered an EPS surprise of +124.00%, with the consensus EPS estimate being -$0.25.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Appian Corporation (NASDAQ:APPN) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Sri Anantha - Vice President of Finance & Investor Relations Matt Calkins - Chairman & Chief Executive Officer Mark Matheos - Chief Financial Officer Conference Call Participants Sanjit Singh - Morgan Stanley Steve Enders - Citi Jake Roberge - William Blair Kevin Kumar - Goldman Sachs Frederick Havemeyer - Macquarie Capital Thomas Blakey - KeyBanc Capital Markets Operator Thank you for standin ...

Core Insights - Appian's stock rose 14.4% following a strong fourth-quarter earnings report, which included a surprise adjusted profit and better-than-expected revenue [1] Financial Performance - Cloud subscription revenue increased by 26% to $83.1 million, contributing to an overall revenue rise of 16% to $145.3 million, surpassing estimates of $140.9 million [2] - The company achieved a record gross margin of 78%, with subscription gross margin improving to 91%, marking its strongest result in over a year [2] - The net retention rate reached 119%, indicating the fastest growth rate in at least a year [2] - Adjusted EBITDA profit was reported at $1 million, a significant improvement from an adjusted EBITDA loss of $24.8 million in the same quarter last year [3] - Adjusted profit per share was $0.06, up from a loss of $0.28 a year ago, and better than the expected loss of $0.24 [3] Future Outlook - For 2024, Appian's guidance is slightly below analyst consensus, expecting cloud revenue growth of 20% to $364 million-$366 million and total revenue to rise 13% to $615 million-$617 million [4] - The company anticipates an adjusted EBITDA loss of $20 million-$25 million for 2024 [4] - CEO Matt Calkins indicated that the company is on track to achieve EBITDA profitability by 2025 and emphasized initiatives around artificial intelligence and low-code data fabric [5] - An Investor Day conference is scheduled for April, where further details on AI and data fabric initiatives will be shared [5]

Core Insights - Appian reported a 26% year-over-year increase in cloud subscription revenue for Q4 2023, reaching $83.1 million, and a 29% increase for the full year 2023, totaling $304.5 million [1][3] - The company achieved total revenue of $145.3 million in Q4 2023, a 16% increase compared to Q4 2022, and $545.4 million for the full year, up 17% year-over-year [2][3] - Appian's CEO highlighted that the company exceeded half a billion dollars in total revenue for the year and achieved the highest quarterly gross margin in its public history [1] Q4 2023 Financial Highlights - Cloud subscription revenue was $83.1 million, up 26% from Q4 2022 - Total subscriptions revenue increased 24% year-over-year to $115.8 million - Professional services revenue decreased by 9% to $29.5 million - Total revenue for Q4 2023 was $145.3 million, a 16% increase from Q4 2022 - Cloud subscription revenue retention rate stood at 119% as of December 31, 2023 - GAAP operating loss improved to $(16.8) million from $(40.6) million in Q4 2022 - Non-GAAP net income was $4.9 million, compared to a non-GAAP net loss of $(20.6) million in Q4 2022 [2] Full Year 2023 Financial Highlights - Cloud subscription revenue reached $304.5 million, a 29% increase from 2022 - Total subscriptions revenue rose 21% year-over-year to $412.3 million - Professional services revenue increased to $133.0 million from $127.8 million in 2022 - Total revenue for the year was $545.4 million, up 17% from 2022 - GAAP operating loss improved to $(108.0) million from $(145.0) million in 2022 - Non-GAAP net loss was $(59.2) million, compared to $(89.2) million in 2022 [3] Financial Outlook - For Q1 2024, cloud subscription revenue is expected to be between $84.0 million and $86.0 million, representing year-over-year growth of 21% to 23% - Total revenue guidance for Q1 2024 is between $148.0 million and $150.0 million, indicating a year-over-year increase of 9% to 11% - Full year 2024 cloud subscription revenue is projected to be between $364.0 million and $366.0 million, reflecting a 20% growth [5][6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38098 APPIAN CORPORATION (Exact Name of Registrant as Specified in its Charter) Delaware 54-1956084 (State or other jurisdiction of in ...

MCLEAN, Va., Feb. 14, 2024 /PRNewswire/ -- Appian (Nasdaq: APPN) announced today that it is named a Leader in the Everest Group insurance technology report, Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023. The report analyses 21 low-code insurance providers across multiple evaluation dimensions, including: Appian is named a Leader in the Everest Group insurance technology report, Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023. Vision and capability to de ...

MCLEAN, Va., Jan. 19, 2024 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announced that it will release financial results for the fourth quarter and full year ended December 31, 2023, before the U.S. financial markets open on Thursday, February 15, 2024. The company will host a conference call and live webcast to review its financial results and business outlook. Conference Call Details The conference call will begin at 8:30 a.m. Eastern Time. To access the call, please use this Registration Link. Once reg ...

Core Insights - State legislatures are taking the lead in regulating artificial intelligence (AI) due to the lack of substantive federal laws, with over two dozen states introducing bills and at least 12 states enacting legislation to better understand AI's implications [1][2] - There is a growing concern among consumers regarding AI, with 52% expressing more concern than excitement about its increasing role in their lives [3] - The European Union is ahead of the U.S. in AI regulation, with its AI Act expected to be passed this year and effective in 2026, serving as a potential model for U.S. federal regulation [4] State Legislation - States like California, Colorado, and New York have enacted laws to regulate AI, focusing on areas such as algorithmic discrimination and the use of AI in hiring practices [2][6] - Florida and New Hampshire are considering bills to govern AI in political advertising, particularly concerning deepfake technology [2] - Thirty states have passed over 50 laws related to AI in the past five years, often as addendums to existing consumer privacy laws [5] Federal Landscape - The American Data Protection and Privacy Act, a national privacy bill, has stalled in Congress, leaving a gap in federal regulation of AI [7] - President Biden's executive order on AI outlines a framework for responsible AI use, requiring the tech industry to develop safety standards and consumer protections [7] Industry Concerns - The lack of a unifying federal law creates a complex patchwork of state regulations, leading to compliance challenges for tech companies operating across state lines [8] - Industry leaders emphasize the need for national legislation to safeguard data and streamline compliance processes [8]

Appian Corporation (NASDAQ:APPN) Q3 2023 Results Conference Call November 2, 2023 4:30 PM ET Company Participants Sri Anantha - VP, Finance and IR Matt Calkins - Chairman and CEO Mark Matheos - CFO Conference Call Participants Jake Roberge - William Blair Steve Enders - Citi Sanjit Singh - Morgan Stanley Kevin Kumar - Goldman Sachs Andrew Sherman - TD Cowen Joe Meares - Truist Securities Raimo Lenschow - Barclays Operator Good day, and thank you for standing by. Welcome to Appian Third Quarter 2023 Earnings ...