MCLEAN, Va., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) announced today that management will be presenting and hosting meetings with institutional investors at the following upcoming conferences. Bernstein's 2nd Annual Tech, Media, & Telecom (TMT) 1:1 Forum. Will host meetings on Wednesday, February 28, 2024.KeyBanc Emerging Technology Summit. The presentation/fireside chat is scheduled for Tuesday, March 5, 2024 at 1:30 p.m., Eastern Time.Morgan Stanley Technology, Media & Telecom Conference ...

BERLIN, 21. Februar 2024 /PRNewswire/ -- Appian (Nasdaq: APPN) wird im Everest Group Insurance Technology Report Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023 als führend eingestuft. Der Bericht analysiert 21 Low-Code-Versicherungsanbieter in mehreren Bewertungsdimensionen, darunter: Appian is named a Leader in the Everest Group insurance technology report, Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023. Vision und Fähigkeit zur erfolgreichen Produktbe ...

AMSTERDAM, 21 februari 2024 /PRNewswire/ -- Appian (Nasdaq: APPN) kondigde vandaag aan dat het is benoemd tot Leader in  Everest Group insurance technology rapport, Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023. Het rapport analyseert 21 low-code verzekeringsaanbieders op meerdere evaluatiegebieden waaronder: Appian is named a Leader in the Everest Group insurance technology report, Low-code Technology Providers in Insurance PEAK Matrix® Assessment 2023. Visie en vermogen om p ...

Core Viewpoint - Appian's stock has experienced significant volatility, dropping 84% from its peak in early 2021, but recently saw a 12% increase following strong fourth-quarter earnings, driven by growth in cloud revenue and new AI initiatives [1][2]. Financial Performance - Appian reported a 26% increase in cloud revenue, reaching $83.1 million in the fourth quarter, contributing to an overall revenue growth of 16% to $145.3 million, surpassing estimates of $140.9 million [2]. - The company achieved an adjusted profit per share of $0.06, contrasting with the consensus estimate of a $0.24 loss and an actual loss of $0.28 in the same quarter the previous year [2]. - Operating costs were reduced while growing the business, with expectations to reach break-even for adjusted EBITDA in 2024 after reporting a $1 million EBITDA profit in the fourth quarter [2][5]. AI and Data Fabric Initiatives - Appian is focusing on low-code data technology, which allows better control over customer data without housing it, functioning as a "virtual database" [3]. - The data fabric feature has become a key component of Appian's AI strategy, promoting "private AI" that enables customers to own their data while providing tools for access and understanding [3]. - The CEO emphasized that these new features are expected to drive revenue differentiation and competitive advantage for the company [4]. Customer Engagement and Future Outlook - The fourth quarter saw a net retention rate growth of 119%, indicating existing customers increased their spending by 19% year over year [5]. - Appian's full-year guidance anticipates a 20% growth in cloud revenue and a 13% increase in total revenue, with an expected adjusted EBITDA loss of $23 million to $25 million, but management projects positive EBITDA by 2025 [5]. - An upcoming Investor Day conference in April is expected to provide updates on AI and data fabric, potentially boosting investor interest and stock performance [6].

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]

Customer Base and Revenue - As of December 31, 2023, the company had approximately 1,000 customers, with the number of customers paying over $1 million in annual recurring revenue increasing from 94 in 2022 to 110 in 2023[26] - The company has seen an increase in the number of customers with over 2,000 employees and $2 billion in annual revenue, indicating a focus on larger organizations[26] - The company anticipates that subscriptions revenue as a percentage of total revenue will continue to increase, while professional services as a percentage of total revenue will continue to decrease[36] Competition and Market Position - The company faces significant competition from custom software providers, low-code platforms, and automation technology providers[28] - The company is ranked 1 for Business Workflow Automation with Integration Use Case in the 2023 Gartner Critical Capabilities for Enterprise Low-Code Application Platforms report[30] Financial Performance and Risks - The company has experienced losses in the past and may not achieve or sustain profitability in the future[38] - Outstanding debt as of December 31, 2023, was $206.6 million, with a hypothetical 1% increase in interest rates potentially increasing annual interest expense by approximately $2.1 million[288] - 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[290] Investments and Development - The company expects to continue to invest in research and development, which may increase expenses in absolute dollar values[36] - The company has 16 granted patents and nine patents pending related to its platform and technology, with none expiring before 2034[31] Financial Position and Currency Risks - As of December 31, 2023, the company had cash and cash equivalents of $149.4 million, primarily held for reinvestment and working capital purposes[286] - The company held $9.7 million in fixed income securities, which are subject to market risk due to interest rate fluctuations[287] - The reporting currency is the U.S. dollar, with foreign currency risks primarily related to the British pound, Euro, Australian dollar, and Swiss franc[291] - A 10% change in foreign currency exchange rates could impact total revenue by approximately 4% and operating loss by about 2%[291] - The company has not engaged in hedging foreign currency transactions to date but may consider it in the future[292] Operational Dependencies - The company relies on Amazon Web Services (AWS) for its cloud offering, and any disruption could adversely affect its business[39] - The company has a dual-class stock structure that concentrates voting control with its CEO, potentially limiting influence from other shareholders[39]