Q1 2025 Earnings Call Presentation Q4 2025 Earnings Call Presentation For a discussion of the material risks and other important factors that could affect our actual results, please refer to our most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the SEC. These documents are also available on our investor section of our website. Additionally, non-GAAP financial measures will be shared. Refer to the tables included within this presentation as well as in our earnings ...

Exhibit 99.1 Full Year 2025 Financial Highlights: • Revenue: Cloud subscriptions revenue was $117.0 million, up 18% compared to the fourth quarter of 2024. Total subscriptions revenue, which includes sales of our cloud subscriptions, license subscriptions, and maintenance and support, increased 19% year-over-year to $162.3 million. Professional services revenue was $40.6 million, an increase of 36% compared to the fourth quarter of 2024. Total revenue was $202.9 million, up 22% compared to the fourth quarte ...

Core Insights - Appian reported a fourth quarter cloud subscriptions revenue increase of 18% year-over-year to $117.0 million and a full year increase of 19% to $437.4 million [1][6]. Fourth Quarter 2025 Financial Highlights - Total subscriptions revenue rose 19% year-over-year to $162.3 million, with professional services revenue increasing by 36% to $40.6 million [6]. - Total revenue for the fourth quarter was $202.9 million, reflecting a 22% increase compared to the same quarter in 2024 [6]. - Cloud net annualized recurring revenue (ARR) expansion was 114% as of December 31, 2025 [6]. - GAAP operating loss was $(0.7) million, while non-GAAP operating income was $17.4 million [6]. - GAAP net loss was $(5.1) million, with a net loss per share of $(0.07) [6]. - Adjusted EBITDA for the quarter was $19.7 million [6]. Full Year 2025 Financial Highlights - Full year cloud subscriptions revenue reached $437.4 million, up 19% from 2024 [6]. - Total subscriptions revenue increased 18% year-over-year to $576.5 million [6]. - Professional services revenue for the year was $150.5 million, compared to $126.5 million in 2024 [6]. - Total revenue for the year was $726.9 million, an 18% increase from 2024 [6]. - GAAP operating income was $0.6 million, a significant improvement from a $(60.9) million loss in 2024 [6]. - GAAP net income was $1.2 million, compared to a $(92.3) million loss in 2024 [6]. - Adjusted EBITDA for the year was $76.8 million [6]. Business Highlights - Appian secured an enterprise agreement with the US Army to support AI-powered transformation efforts [6]. - The company launched new AI capabilities aimed at automating complex workflows and accelerating application modernization [6]. - Appian recognized the 2025 Public Sector Partner Award winners [6]. - The New Zealand Police implemented Appian for case processing [6]. Financial Outlook - For the first quarter of 2026, cloud subscriptions revenue is expected to be between $119.0 million and $121.0 million, representing year-over-year growth of 19% to 21% [12]. - Total revenue for the first quarter is projected to be between $189.0 million and $193.0 million, indicating a year-over-year increase of 14% to 16% [12]. - For the full year 2026, cloud subscriptions revenue is anticipated to be between $502.0 million and $510.0 million, reflecting year-over-year growth of 15% to 17% [12].

Core Insights - Appian (APPN) is expected to report its fourth-quarter 2025 results on February 19, with earnings estimated at 9 cents per share and revenues projected at $189.1 million, indicating a 13.45% year-over-year increase [1][8] - The company has consistently surpassed earnings estimates in the past four quarters, with an average surprise of 268.33% [1] Revenue and Performance - Appian's fourth-quarter performance is anticipated to benefit from record cloud subscription revenues, which increased by 21% year-over-year, and strong Q3 cloud net new ACV bookings, with 90% of new software bookings coming from cloud offerings [2] - The company secured a significant seven-figure software deal for AI deployment, reflecting a 50% year-over-year increase [2] Guidance and Market Conditions - Appian has adopted a cautious stance regarding the potential impact of a government shutdown, estimating a maximum revenue and EBITDA impact of $10 million [3] - The company has raised its full-year Cloud Subscriptions Revenue guidance to a range of $435-$437 million and total revenue guidance to $711-$715 million, with Adjusted EBITDA guidance set at $67-$70 million [6] AI and International Operations - AI is becoming a core strength for Appian, with over 25% of customers currently paying for AI services, and nearly half of AI customers utilizing Intelligent Document Processing [4] - International operations contributed 40% of total revenues, with increased AI adoption expected to have occurred in the fourth quarter, positively impacted by the depreciation of the dollar against foreign currencies [5]

Donovan Jones is an IPO research specialist with 15 years of experience analyzing investment opportunities for U.S. IPOs.He also leads the investing group IPO Edge, which offers actionable information on growth stocks through first-look IPO filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates. Learn moreAnal ...

Core Viewpoint - Fivespan Partners, a newly established investment firm, is taking a significant interest in Appian, aiming to enhance the company's operations, strategy, and governance while potentially seeking board representation to add value [1][4]. Group 1: Fivespan Partners Overview - Fivespan Partners, founded in October 2023, holds a 7.91% stake in Appian with an average cost of $29.73 per share [1]. - The firm is characterized by its collaborative and amicable approach to activism, preferring to work behind the scenes but willing to engage in proxy fights if necessary [1]. - Fivespan aims to maintain a portfolio of six to eight investments, averaging between $100 million to $300 million per investment, and plans to hold these investments for three to five years [1]. Group 2: Appian's Business Model and Market Position - Appian provides critical business process and management software solutions, primarily to legacy businesses with outdated technology, resulting in high customer retention rates of approximately 99% [3]. - The company operates in a market estimated to be worth $90 billion, with only about 10% penetration, allowing for consistent mid-teens revenue growth [3]. - Despite its strong fundamentals, Appian's shares are trading at a significant discount, approximately 50% lower than similar companies, at roughly 2 times sales and 3 times gross profit [3]. Group 3: Challenges Facing Appian - Appian's stock has declined by 89% over the past five years, attributed to market misconceptions regarding its exposure to artificial intelligence risks, which are not applicable to its backend process automation [4][5]. - The company has historically focused on top-line growth at the expense of profitability, resulting in low free cash flow margins compared to peers [7]. - Appian's capital allocation has been criticized, and with Fivespan's involvement, there is potential for improved management of cash flow to maximize shareholder value [8]. Group 4: Potential for Improvement - Fivespan's involvement could lead to better communication of Appian's value proposition to the market, addressing misconceptions and enhancing investor relations [6]. - As margins improve, driven by a focus on profitability alongside revenue growth, Appian is expected to transition into a cash-generating entity, necessitating disciplined capital allocation [7][8]. - Appian is on the verge of receiving at least $500 million from a corporate espionage lawsuit against Pega, which could significantly impact its market cap and financial health [8]. Group 5: Activism Strategy - Fivespan's approach to activism is expected to be "activist-lite," focusing on collaboration and strategic advice rather than aggressive tactics, with an emphasis on gaining board representation to influence capital allocation decisions [9]. - The addition of a minority shareholder representative on the board could provide valuable insights and resources for Appian, particularly in making crucial financial decisions [9].

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] AI and Energy Demand - AI technologies, particularly large language models like ChatGPT, are extremely energy-intensive, with data centers consuming as much energy as small cities [2] - The increasing demand for AI is straining global power grids, leading to rising electricity prices and utilities struggling to expand capacity [2] Investment Opportunity - A specific company, largely overlooked by AI investors, is positioned to benefit from the anticipated surge in energy demand due to AI [3][6] - This company owns critical energy infrastructure assets and is involved in the U.S. LNG exportation sector, which is expected to grow under the current administration's energy policies [7][8] Financial Position - The company is noted for being debt-free and holding a significant cash reserve, amounting to nearly one-third of its market capitalization [8] - It also has a substantial equity stake in another AI-related company, providing investors with indirect exposure to multiple growth opportunities without high premiums [9] Market Perception - Wall Street is beginning to recognize this company as a valuable investment, especially as it operates without the high valuations typical of many energy and utility firms [8][10] - The company is trading at less than 7 times earnings, making it an attractive option for investors looking for undervalued stocks in the AI and energy sectors [10] Future Outlook - The ongoing technological revolution driven by AI is expected to create significant investment opportunities, with a strong talent pool emerging in the field [12][13] - The combination of AI infrastructure needs, onshoring trends, and a focus on nuclear energy positions this company favorably for future growth [14]

Core Viewpoint - Appian is set to release its financial results for Q4 and the full year of 2025 on February 19, 2026, before the U.S. markets open [1] Group 1: Financial Results Announcement - The financial results will cover the fourth quarter and the full year ended December 31, 2025 [1] - A conference call and live webcast will be held to discuss the financial results and business outlook [1] Group 2: Conference Call Details - The conference call is scheduled to begin at 8:30 a.m. Eastern Time [2] - Participants can join the call via a registration link and will need a phone with a dial-in and PIN [2] - A replay of the conference call will be available on the Investor Relations page of the company's website after the live event [2] Group 3: Company Overview - Appian specializes in process automation for large enterprises and governments [3] - The company has been automating complex processes for 25 years, emphasizing its reliability and scalability [3]

Core Insights - Appian Corporation (APPN) is a Virginia-based software company known for its low-code software platform, which is utilized by global businesses, particularly in financial services, insurance, and government sectors [1] Company Overview - The majority of Appian's revenue, approximately 63%, is generated from the United States [1]

责任编辑：王永生 责任编辑：王永生 激进投资者Fivespan Partners周二表示，它持有云计算和企业软件公司Appian 6.2%的股份，并计划在其 股价下滑之际与其管理层和董事会讨论业务战略。这家总部位于旧金山的投资公司在一份所谓的13-D 文件中报告了持股情况，当投资者持股超过5%的门槛并打算推动变革时，就需要提交这份文件。总部 位于弗吉尼亚州麦克莱恩的 Appian 公司的股价在过去五年中暴跌了 86%，市值跌至约 20 亿美元，部 分原因是投资者担心人工智能会侵蚀其业务。周二的股价收于 29.89 美元。不过，一些投资者称 Appian 是一家被误解的公司，拥有包括美国政府在内的极其忠诚的客户。 激进投资者Fivespan Partners周二表示，它持有云计算和企业软件公司Appian 6.2%的股份，并计划在其 股价下滑之际与其管理层和董事会讨论业务战略。这家总部位于旧金山的投资公司在一份所谓的13-D 文件中报告了持股情况，当投资者持股超过5%的门槛并打算推动变革时，就需要提交这份文件。总部 位于弗吉尼亚州麦克莱恩的 Appian 公司的股价在过去五年中暴跌了 86%，市值跌至约 20 ...