Appian Announces Fourth Quarter and Full Year 2024 Financial Results

2/19/25 7:05:00 AM ET

Computer Software: Prepackaged Software

Technology

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Fourth quarter cloud subscription revenue increased 19% year-over-year to $98.9 million

Full year cloud subscription revenue increased 21% year-over year to $368.0 million

MCLEAN, Va., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Appian (NASDAQ:APPN) today announced financial results for the fourth quarter and full year ended December 31, 2024.

"In 2024, Appian demonstrated its ability to grow with increasing efficiency. We specialize in creating value with AI, by deploying it in a process. While others bring work to AI, we bring AI to work," said Matt Calkins, CEO & Founder.

Fourth Quarter 2024 Financial Highlights:

Revenue: Cloud subscription revenue was $98.9 million, up 19% compared to the fourth quarter of 2023. Total subscriptions revenue, which includes sales of our cloud subscriptions, on-premises term license subscriptions, and maintenance and support, increased 18% year-over-year to $136.8 million. Professional services revenue was $29.9 million, an increase of 1% compared to the fourth quarter of 2023. Total revenue was $166.7 million, up 15% compared to the fourth quarter of 2023. Cloud subscription revenue retention rate was 116% as of December 31, 2024.
Operating income (loss) and non-GAAP operating income (loss): GAAP operating income was $5.0 million, compared to GAAP operating loss of $(16.8) million for the fourth quarter of 2023. Non-GAAP operating income was $18.7 million, compared to non-GAAP operating loss of $(1.4) million for the fourth quarter of 2023.
Net loss and non-GAAP net income (loss): GAAP net loss was $(13.6) million, compared to $(10.0) million for the fourth quarter of 2023. GAAP net loss per share was $(0.18) for the fourth quarter of 2024, compared to $(0.14) for the fourth quarter of 2023. Non-GAAP net loss was $(0.2) million, compared to non-GAAP net income of $4.9 million for the fourth quarter of 2023. Non-GAAP net loss per share was breakeven, compared to the $0.06 net income per diluted share for the fourth quarter of 2023. GAAP and non-GAAP net loss for the fourth quarter of 2024 included $14.3 million, or $0.19 per share, of foreign currency exchange losses. GAAP net loss and non-GAAP net income for the fourth quarter of 2023 included $11.1 million, or $0.15 per share, of foreign currency exchange gains. We do not forecast foreign exchange rate movements.
Adjusted EBITDA: Adjusted EBITDA was $21.2 million, compared to adjusted EBITDA of $1.0 million for the fourth quarter of 2023.
Cash flows: Net cash provided by operating activities was $13.9 million for the three months ended December 31, 2024 compared to $(8.2) million of net cash used in operating activities for the same period in 2023.

Full Year 2024 Financial Highlights:

Revenue: Cloud subscription revenue was $368.0 million for the full year 2024, up 21% compared to the full year 2023. Total subscriptions revenue increased 19% year-over-year to $490.6 million for the full year 2024. Professional services revenue was $126.5 million for the full year 2024, compared to $133.0 million for the full year 2023. Total revenue was $617.0 million for the full year 2024, up 13% compared to the full year 2023.
Operating loss and non-GAAP operating income (loss): GAAP operating loss was $(60.9) million for the full year 2024, compared to $(108.0) million for the full year 2023. Non-GAAP operating income was $10.2 million for the full year 2024, compared to non-GAAP operating loss $(54.3) million for the full year 2023.
Net loss and non-GAAP net loss: GAAP net loss was $(92.3) million for the full year 2024, compared to $(111.4) million for the full year 2023. GAAP net loss per share was $(1.26) for the full year 2024, compared to $(1.52) for the full year 2023. Non-GAAP net loss was $(25.6) million for the full year 2024, compared to $(59.2) million for the full year 2023. Non-GAAP net loss per share was $(0.35) for the full year 2024, compared to the $(0.81) net loss per share for the full year 2023. GAAP and non-GAAP net loss for the full year 2024 included $16.8 million, or $(0.23) per share, of foreign currency exchange losses. GAAP and non-GAAP net loss for the full year 2023 included $8.7 million, or $0.12 per share, of foreign currency exchange gains.
Adjusted EBITDA: Adjusted EBITDA was $20.3 million for the full year 2024, compared to adjusted EBITDA loss of $(44.8) million for the full year 2023.
Balance sheet and cash flows: As of December 31, 2024, Appian had total cash, cash equivalents, and investments of $159.9 million. Net cash provided by operating activities was $6.9 million for the full year 2024, compared to $(110.4) million of net cash used in operating activities for the full year 2023.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables following the financial statements in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

Recent Business Highlights:

Financial Outlook:

As of February 19, 2025, guidance for 2025 is as follows:

First Quarter 2025 Guidance:
- Cloud subscription revenue is expected to be between $97.0 million and $99.0 million, representing year-over-year growth of 12% to 14%.
- Total revenue is expected to be between $162.0 million and $164.0 million, representing a year-over-year increase of 8% to 9%.
- Adjusted EBITDA is expected to be between $8.0 million and $10.0 million.
- Non-GAAP net income per share is expected to be between $0.02 and $0.05, assuming weighted average common shares outstanding of 74.7 million.
Full Year 2025 Guidance:
- Cloud subscription revenue is expected to be between $419.0 million and $421.0 million, representing year-over-year growth of 14%.
- Total revenue is expected to be between $680.0 million and $684.0 million, representing a year-over-year increase of 10%.
- Adjusted EBITDA is expected to be between $38.0 million and $42.0 million.
- Non-GAAP net income per share is expected to be between $0.17 and $0.22, assuming weighted average common shares outstanding of 75.1 million.

Conference Call Details:

Appian will host a conference call today, February 19, 2025, at 8:30 a.m. ET to discuss Appian's financial results for the fourth quarter ended December 31, 2024 and business outlook.

To access the call, navigate to the following link⁽¹⁾. Once registered, participants can dial in using their phone with a dial in and PIN, or they can choose the Call Me option for instant dial to their phone. The live webcast of the conference call can also be accessed on the Investor Relations page of our website at https://investors.appian.com.

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About Appian

Appian is The Process Company. We deliver a software platform that helps organizations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world's largest companies across industries. For more information, visit appian.com. (NASDAQ:APPN)

Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with GAAP, Appian provides investors with certain non-GAAP financial performance measures. Appian uses these non-GAAP financial performance measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Appian's management believes these non-GAAP financial measures provide meaningful supplemental information regarding Appian's performance by excluding certain expenses that may not be indicative of our recurring core business operating results. Appian believes both management and investors benefit from referring to these non-GAAP financial measures in assessing Appian's performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to historical performance as well as comparisons to competitors' operating results. Appian believes these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to measures used by management in its financial and operational decision-making and (2) they are used by Appian's institutional investors and the analyst community to help them analyze the health of Appian's business.

The non-GAAP financial performance measures include the following: non-GAAP subscriptions cost of revenue, non-GAAP professional services cost of revenue, non-GAAP total cost of revenue, non-GAAP total operating expense, non-GAAP operating loss, non-GAAP income tax expense, non-GAAP net income (loss), and non-GAAP net income (loss) per share, basic and diluted. These non-GAAP financial performance measures exclude the effect of stock-based compensation expense, certain non-ordinary litigation-related expenses consisting of legal and other professional fees associated with the Pegasystems cases (net of insurance reimbursements), or Litigation Expense, amortization of the judgment preservation insurance policy, or JPI Amortization, severance costs related to involuntary reductions in our workforce, or Severance Costs, lease impairment and lease-related charges associated with actions taken to reduce the footprint of our leased office spaces, or Lease Impairment and Lease-Related Charges, and a short-swing profit disgorgement paid to us by a shareholder, or Short-Swing Profit Payment. While some of these items may be recurring in nature and should not be disregarded in the evaluation of our earnings performance, it is useful to exclude such items when analyzing current results and trends compared to other periods as these items can vary significantly from period to period depending on specific underlying transactions or events that may occur. Therefore, while we may incur or recognize these types of expenses in the future, we believe removing these items for purposes of calculating our non-GAAP financial measures provides investors with a more focused presentation of our ongoing operating performance.

Appian also discusses adjusted EBITDA, a non-GAAP financial performance measure it believes offers a useful view of the overall operation of its businesses. The Company defines adjusted EBITDA as net loss before (1) other expense (income), net, (2) interest expense, (3) income tax expense, (4) depreciation expense and amortization of intangible assets, (5) stock-based compensation expense, (6) Litigation Expense, (7) JPI Amortization, (8) Severance Costs, and (9) Lease Impairment and Lease-Related Charges. The most directly comparable GAAP financial measure to adjusted EBITDA is net loss. Users should consider the limitations of using adjusted EBITDA, including the fact this measure does not provide a complete measure of our operating performance. Adjusted EBITDA is not intended to purport to be an alternative to net loss as a measure of operating performance or to cash flows from operating activities as a measure of liquidity.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to the financial information prepared and presented in accordance with GAAP, and Appian's non-GAAP measures may be different from non-GAAP measures used by other companies. For more information on these non-GAAP financial measures, see the reconciliation of these non-GAAP financial measures to their nearest comparable GAAP measures at the end of this press release.

Appian provides guidance ranges for non-GAAP net income (loss) per share and adjusted EBITDA; however, we are not able to reconcile these amounts to their comparable GAAP financial measures without unreasonable efforts because certain information necessary to calculate such measures on a GAAP basis is unavailable, subject to high variability, dependent on future events outside of our control, and cannot be predicted. In addition, Appian believes such reconciliations could imply a degree of precision that might be confusing or misleading to investors. The actual effect of the reconciling items that Appian may exclude from these non-GAAP expense numbers, when determined, may be significant to the calculation of the comparable GAAP measures.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including statements regarding Appian's future financial and business performance for the first quarter and full year 2025, future investment by Appian in its go-to-market initiatives, increased demand for the Appian Platform, market opportunity and plans and objectives for future operations, including Appian's ability to drive continued subscriptions revenue and total revenue growth, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "will," "plan," and similar expressions are intended to identify forward-looking statements. Appian has based these forward-looking statements on its current expectations and projections about future events and financial trends that Appian believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including the risks and uncertainties associated with Appian's ability to grow its business and manage its growth, Appian's ability to sustain its revenue growth rate, continued market acceptance of Appian's Platform and adoption of low-code solutions to drive digital transformation, the fluctuation of Appian's operating results due to the length and variability of its sales cycle, competition in the markets in which Appian operates, AI being a disruptive set of technologies that may affect the markets for Appian's software dramatically and in unpredictable ways, risks and uncertainties associated with the composition and concentration of Appian's customer base and their demand for its platform and satisfaction with the services provided by Appian, Appian's ability to operate in compliance with applicable laws and regulations, Appian's strategic relationships with third parties, and additional risks and uncertainties set forth in the "Risk Factors" section of Appian's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Moreover, Appian operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for Appian's management to predict all risks, nor can Appian assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements Appian may make. In light of these risks, uncertainties, and assumptions, Appian cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Appian is under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law.

Investor Contact

Jack Andrews

Vice President, Investor Relations

[email protected]

Media Contact

Cindy Cheng

Senior Director, Global Communications

[email protected]

APPIAN CORPORATION
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value and share data)

	As of December 31,
		2024			2023
Assets
Current assets
Cash and cash equivalents	$	118,552		$	149,351
Short-term investments and marketable securities		41,308			9,653
Accounts receivable, net of allowance of $3,396 and $2,606, respectively		195,069			171,561
Deferred commissions, current		36,630			34,261
Prepaid expenses and other current assets		43,984			49,529
Total current assets		435,543			414,355
Property and equipment, net of accumulated depreciation of $32,142 and $25,141, respectively		37,109			42,682
Goodwill		25,555			27,106
Intangible assets, net of accumulated amortization of $5,341 and $4,152, respectively		2,240			3,889
Right-of-use assets for operating leases		31,081			39,975
Deferred commissions, net of current portion		60,540			59,764
Deferred tax assets		4,129			3,453
Other assets		24,842			36,279
Total assets	$	621,039		$	627,503
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$	4,322		$	6,174
Accrued expenses		11,388			11,046
Accrued compensation and related benefits		34,223			38,003
Deferred revenue		281,760			235,992
Debt		9,598			66,368
Operating lease liabilities		12,378			11,698
Other current liabilities		1,087			1,891
Total current liabilities		354,756			371,172
Long-term debt		240,826			140,221
Non-current operating lease liabilities		52,189			59,067
Deferred revenue, non-current		5,477			4,700
Deferred tax liabilities		—			2
Other non-current liabilities		431			—
Total liabilities		653,679			575,162
Stockholders' equity
Class A common stock—par value $0.0001; 500,000,000 shares authorized as of December 31, 2024 and 2023 and 42,938,701 and 42,169,970 shares issued and outstanding as of December 31, 2024 and 2023, respectively		4			4
Class B common stock—par value $0.0001; 100,000,000 shares authorized as December 31, 2024 and 2023 and 31,090,085 and 31,196,796 shares issued and outstanding as of December 31, 2024 and 2023, respectively		3			3
Additional paid-in capital		591,281			595,781
Accumulated other comprehensive loss		(11,774	)		(23,555	)
Accumulated deficit		(612,154	)		(519,892	)
Total stockholders' equity		(32,640	)		52,341
Total liabilities and stockholders' equity	$	621,039		$	627,503

APPIAN CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)

	Three Months Ended December 31,						Year Ended December 31, 2024
		2024			2023			2024			2023
	(unaudited)
Revenue
Subscriptions	$	136,779		$	115,783		$	490,568		$	412,337
Professional services		29,906			29,536			126,454			133,026
Total revenue		166,685			145,319			617,022			545,363
Cost of revenue
Subscriptions		13,873			11,071			53,487			43,563
Professional services		21,812			23,244			96,692			99,759
Total cost of revenue		35,685			34,315			150,179			143,322
Gross profit		131,000			111,004			466,843			402,041
Operating expenses
Sales and marketing		55,272			61,043			230,885			242,381
Research and development		37,188			34,596			154,977			153,098
General and administrative		33,507			32,193			141,834			114,535
Total operating expenses		125,967			127,832			527,696			510,014
Operating income (loss)		5,033			(16,828	)		(60,853	)		(107,973	)
Other non-operating expense (income)
Other expense (income), net		12,655			(12,966	)		6,773			(17,603	)
Interest expense		5,661			5,072			23,582			17,862
Total other non-operating expense (income)		18,316			(7,894	)		30,355			259
Loss before income taxes		(13,283	)		(8,934	)		(91,208	)		(108,232	)
Income tax expense		364			1,072			1,054			3,209
Net loss	$	(13,647	)	$	(10,006	)	$	(92,262	)	$	(111,441	)
Net loss per share:
Basic and diluted	$	(0.18	)	$	(0.14	)	$	(1.26	)	$	(1.52	)
Weighted average common shares outstanding:
Basic and diluted		73,953			73,310			72,988			73,102

APPIAN CORPORATION
STOCK-BASED COMPENSATION EXPENSE
(in thousands)

	Three Months Ended December 31,				Year Ended December 31,
		2024		2023		2024		2023
	(unaudited)
Cost of revenue
Subscriptions	$	207	$	212	$	848	$	925
Professional services		1,310		1,457		5,674		6,055
Operating expenses
Sales and marketing		1,930		2,380		8,200		10,842
Research and development		2,857		3,020		11,716		12,486
General and administrative		2,730		3,103		12,607		13,079
Total stock-based compensation expense	$	9,034	$	10,172	$	39,045	$	43,387

APPIAN CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

	Year Ended December 31,
		2024			2023
Cash flows from operating activities:
Net loss	$	(92,262	)	$	(111,441	)
Adjustments to reconcile net loss to net cash provided by (used by) operating activities:
Stock-based compensation		39,045			43,387
Depreciation expense and amortization of intangible assets		10,030			9,473
Lease impairment charges		5,462			—
Bad debt expense		1,760			1,091
Amortization of debt issuance costs		589			444
Benefit for deferred income taxes		(899	)		(1,541	)
Foreign currency transaction losses (gains), net		16,745			(12,263	)
Changes in assets and liabilities:
Accounts receivable		(28,353	)		(1,868	)
Prepaid expenses and other assets		16,551			(54,753	)
Deferred commissions		(3,144	)		(8,043	)
Accounts payable and accrued expenses		(871	)		(1,394	)
Accrued compensation and related benefits		(2,947	)		(3,157	)
Other current and non-current liabilities		(1,478	)		(1,134	)
Deferred revenue		49,309			28,668
Operating lease assets and liabilities		(2,659	)		2,089
Net cash provided by (used by) operating activities		6,878			(110,442	)
Cash flows from investing activities:
Proceeds from maturities of investments		20,038			91,670
Purchases of investments		(51,630	)		(53,443	)
Purchases of property and equipment		(3,798	)		(9,637	)
Net cash (used by) provided by investing activities		(35,390	)		28,590
Cash flows from financing activities:
Proceeds from borrowings		50,000			92,000
Payments for debt issuance costs		(463	)		(276	)
Debt repayments		(6,250	)		(3,563	)
Repurchase of common stock		(50,019	)		—
Payments for employee taxes related to the net share settlement of equity awards		(7,987	)		(9,748	)
Proceeds from exercise of common stock options		14,461			752
Net cash (used by) provided by financing activities		(258	)		79,165
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash		(2,029	)		1,657
Net decrease in cash, cash equivalents, and restricted cash		(30,799	)		(1,030	)
Cash, cash equivalents, and restricted cash at beginning of period		149,351			150,381
Cash, cash equivalents, and restricted cash at end of period	$	118,552		$	149,351

Supplemental cash flow information:
Cash paid for interest	$	22,574		$	16,906
Cash paid for income taxes	$	3,334		$	3,999
Supplemental non-cash investing and financing information:
Accrued capital expenditures	$	155		$	654

APPIAN CORPORATION
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(unaudited, in thousands, except per share data)

	GAAP Measure			Stock-Based Compensation			Litigation Expense			JPI Amortization			Severance Costs			Lease Impairment and Lease-Related Charges			Short-Swing Profit Payment			Non-GAAP Measure
Three Months Ended December 31, 2024
Subscriptions cost of revenue	$	13,873		$	(207	)	$	—		$	—		$	—		$	—		$	—		$	13,666
Professional services cost of revenue		21,812			(1,310	)		—			—			—			—			—			20,502
Total cost of revenue		35,685			(1,517	)		—			—			—			—			—			34,168
Total operating expense		125,967			(7,517	)		(1,160	)		(3,152	)		—			(318	)		—			113,820
Operating income		5,033			9,034			1,160			3,152			—			318			—			18,697
Income tax expense		364			241			—			—			—			—			—			605
Net (loss) income		(13,647	)		8,793			1,160			3,152			—			318			—			(224	)
Net (loss) income per share, basic and diluted^(a)	$	(0.18	)	$	0.12		$	0.02		$	0.04		$	—		$	—		$	—		$	—

Year Ended December 31, 2024
Subscriptions cost of revenue	$	53,487		$	(848	)	$	—		$	—		$	—		$	—		$	—		$	52,639
Professional services cost of revenue		96,692			(5,674	)		—			—			(1,398	)		—			—			89,620
Total cost of revenue		150,179			(6,522	)		—			—			(1,398	)		—			—			142,259
Total operating expense		527,696			(32,523	)		(4,602	)		(15,795	)		(4,136	)		(6,104	)		—			464,536
Operating (loss) income		(60,853	)		39,045			4,602			15,795			5,534			6,104			—			10,227
Income tax expense		1,054			1,499			—			—			1,096			—			—			3,649
Net (loss) income		(92,262	)		37,546			4,602			15,795			4,438			6,104			(1,799	)		(25,576	)
Net (loss) income per share, basic and diluted	$	(1.26	)	$	0.51		$	0.06		$	0.22		$	0.06		$	0.08		$	(0.02	)	$	(0.35	)

^(a)Per share amounts do not foot due to rounding.

	GAAP Measure			Stock-Based Compensation			Litigation Expense			JPI Amortization			Severance Costs			Non-GAAP Measure
Three Months Ended December 31, 2023
Subscriptions cost of revenue	$	11,071		$	(212	)	$	—		$	—		$	—		$	10,859
Professional services cost of revenue		23,244			(1,457	)		—			—			—			21,787
Total cost of revenue		34,315			(1,669	)		—			—			—			32,646
Total operating expense		127,832			(8,503	)		(708	)		(4,553	)		—			114,068
Operating (loss) income		(16,828	)		10,172			708			4,553			—			(1,395	)
Income tax expense		1,072			571			—			—			—			1,643
Net (loss) income		(10,006	)		9,601			708			4,553			—			4,856
Net (loss)) income per share, basic^(a)	$	(0.14	)	$	0.13		$	0.01		$	0.06		$	—		$	0.07
Net (loss) income per share, diluted^(b)	$	(0.14	)	$	0.13		$	0.01		$	0.06		$	—		$	0.06

Year Ended December 31, 2023
Subscriptions cost of revenue	$	43,563		$	(925	)	$	—		$	—		$	(30	)	$	42,608
Professional services cost of revenue		99,759			(6,055	)		—			—			(158	)		93,546
Total cost of revenue		143,322			(6,980	)		—			—			(188	)		136,154
Total operating expense		510,014			(36,407	)		2,064			(6,038	)		(6,111	)		463,522
Operating (loss) income		(107,973	)		43,387			(2,064	)		6,038			6,299			(54,313	)
Income tax expense		3,209			1,302			—			—			139			4,650
Net (loss) income		(111,441	)		42,085			(2,064	)		6,038			6,160			(59,222	)
Net (loss) income per share, basic and diluted	$	(1.52	)	$	0.58		$	(0.03	)	$	0.08		$	0.08		$	(0.81	)

^(a)Per share amounts do not foot due to rounding.

^(b)Accounts for the impact of 2.0 million shares of dilutive securities resulting in total diluted shares of 75.3 million.

	Three Months Ended December 31,						Year Ended December 31, 2024
		2024			2023			2024			2023
Reconciliation of adjusted EBITDA:
GAAP net loss	$	(13,647	)	$	(10,006	)	$	(92,262	)	$	(111,441	)
Other expense (income), net		12,655			(12,966	)		6,773			(17,603	)
Interest expense		5,661			5,072			23,582			17,862
Income tax expense		364			1,072			1,054			3,209
Depreciation expense and amortization of intangible assets		2,527			2,427			10,030			9,473
Stock-based compensation expense		9,034			10,172			39,045			43,387
Litigation Expense		1,160			708			4,602			(2,064	)
JPI Amortization		3,152			4,553			15,795			6,038
Severance Costs		—			—			5,534			6,299
Lease Impairment and Lease-Related Charges		318			—			6,104			—
Adjusted EBITDA	$	21,224		$	1,032		$	20,257		$	(44,840	)

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Date	Price Target	Rating	Analyst
1/14/2025		Sector Weight	KeyBanc Capital Markets
1/6/2025	$37.00	Sector Perform	Scotiabank
8/2/2024		Overweight → Sector Weight	KeyBanc Capital Markets
8/1/2024		Outperform → Mkt Perform	William Blair
7/31/2024	$37.00 → $33.00	Buy → Neutral	DA Davidson
1/11/2024	$47.00 → $45.00	Neutral → Buy	Citigroup
11/7/2023	$50.00 → $55.00	Neutral → Buy	DA Davidson
6/6/2023	$40.00	Neutral	DA Davidson

Appian Announces Fourth Quarter and Full Year 2024 Financial Results

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$APPN Financials

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Appian Announces First Quarter 2025 Financial Results

Appian to Announce First Quarter 2025 Financial Results on May 8, 2025

Appian Announces Fourth Quarter and Full Year 2024 Financial Results

$APPN Large Ownership Changes

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Amendment: SEC Form SC 13G/A filed by Appian Corporation

SEC Form SC 13G filed by Appian Corporation

Amendment: SEC Form SC 13D/A filed by Appian Corporation

$APPN SEC Filings

Appian Corporation filed SEC Form 8-K: Other Events

SEC Form 10-Q filed by Appian Corporation

Appian Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

$APPN Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Large owner Abdiel Capital Advisors, Lp sold $4,144,694 worth of shares (131,173 units at $31.60) (SEC Form 4)

Large owner Abdiel Capital Advisors, Lp sold $4,874,814 worth of shares (151,400 units at $32.20) (SEC Form 4)

Large owner Abdiel Capital Advisors, Lp sold $8,644,702 worth of shares (264,665 units at $32.66) (SEC Form 4)

$APPN Press Releases

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Appian Announces First Quarter 2025 Financial Results

Appian Congratulates 2025 Partner Award Winners for Delivering Impact with AI and Process Orchestration

Appian Celebrates 2025 Innovation Award Winners

$APPN Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Large owner Abdiel Capital Advisors, Lp bought $346,444 worth of shares (10,265 units at $33.75) (SEC Form 4)

Large owner Abdiel Capital Advisors, Lp bought $1,410,992 worth of shares (42,825 units at $32.95) (SEC Form 4)

Large owner Abdiel Capital Advisors, Lp bought $896,691 worth of shares (26,801 units at $33.46) (SEC Form 4)

$APPN Leadership Updates

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Appian Appoints Serge Tanjga as Chief Financial Officer

Appian Appoints Randy Guard as Chief Marketing Officer

Appian Appoints Frédéric Godde to Lead Appian France

$APPN Analyst Ratings

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KeyBanc Capital Markets resumed coverage on Appian

Scotiabank initiated coverage on Appian with a new price target

Appian downgraded by KeyBanc Capital Markets

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