Appian(US:APPN) The Motley Fool·2024-08-01 15:24Core Insights - Appian's shares fell by 11.7% despite beating second-quarter earnings estimates due to weaker-than-expected revenue guidance for the third quarter and full year [1] Financial Performance - Appian's cloud subscription revenue increased by 19% to $88.4 million, while overall revenue rose by 15% to $146.5 million, surpassing the consensus estimate of $143 million [2] - The company narrowed its adjusted EBITDA loss from $24.7 million to $10.5 million, reporting a per-share loss of $0.26, which improved from a loss of $0.39 and beat the consensus estimate of a loss of $0.31 [2] Future Guidance - For the third quarter, Appian expects adjusted EBITDA to be break-even to $3 million, with total revenue forecasted between $149 million and $153 million, which is below the consensus estimate of $155.6 million [4] - For the full year, the company anticipates adjusted EBITDA of -$3 million to $3 million and total revenue between $610 million and $615 million, compared to revenue estimates of $615.7 million [4] Strategic Developments - Appian has accelerated its target for achieving break-even adjusted EBITDA from 2025 to 2024 following a round of layoffs that affected 170 employees [3]