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 ...

Exhibit 99.1 https://files.reportify.cc/media/ Appian Announces Third Quarter 2024 Financial Results Third quarter cloud subscription revenue increased 22% year-over-year to $94.1 million McLean, VA – November 7, 2024 – Appian (Nasdaq: APPN) today announced financial results for the third quarter ended September 30, 2024. "Appian continues to grow even as we become more efficient. Growth remains our top priority. We now project positive adjusted EBITDA for the full year 2024," said Matt Calkins, CEO & Found ...

MCLEAN, Va., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the third quarter ended September 30, 2024. “Appian continues to grow even as we become more efficient. Growth remains our top priority. We now project positive adjusted EBITDA for the full year 2024,” said Matt Calkins, CEO & Founder. Third Quarter 2024 Financial Highlights: Revenue: Cloud subscription revenue was $94.1 million, up 22% compared to the third quarter of 2023. Total subscriptions revenue ...

A leader in enterprise low-code application platforms drives transformation and innovation for insurersMCLEAN, Va., Oct. 31, 2024 /PRNewswire/ -- Appian (Nasdaq: APPN), a leading enterprise platform for process orchestration and automation, is proud to announce its inclusion in the InsurTech100 list by Fintech Global for the second consecutive year. Selected by a panel of industry experts and analysts, the InsurTech100 honors the world's most innovative companies transforming the insurance industry through ...

MCLEAN, Va., Oct. 30, 2024 /PRNewswire/ -- At this year's Appian Government conference, Appian (Nasdaq: APPN) announced the winners of its 2024 Public Sector Partner Impact and Excellence Awards. These annual awards celebrate Appian partners for delivering innovation, transformation, and value to public sector organizations using the Appian Platform for end-to-end process automation. Here are this year's winners: At this year's Appian Government conference, Appian announced the winners of its 2024 Public Se ...