Appian delivered a strong quarter with significant growth in cloud subscriptions and federal sector expansion. The company improved its EBITDA guidance and made strategic leadership appointments. However, challenges were noted in professional services revenue and the transition of the CFO role.

Company Guidance

During the Appian Q3 2024 earnings call, the company provided extensive guidance on its financial performance and strategic direction. Key metrics highlighted include a 22% year-over-year increase in cloud subscription revenue, reaching $94.1 million, and a 19% rise in total subscriptions revenue to $123.1 million. The total revenue grew by 12% to $154.1 million, while the cloud subscriptions revenue retention rate stood at 117%. The company achieved a positive adjusted EBITDA of $10.8 million, surpassing its previous breakeven forecast. Additionally, Appian projected positive adjusted EBITDA for the full year 2024 and raised its cloud and total revenue guidance, expecting cloud subscription revenue between $364 million to $366 million and total revenue between $613 million to $615 million. Appian's strategic focus includes enhancing its cost structure, prioritizing high-value implementations, and leveraging its data fabric capabilities to integrate AI effectively in enterprise processes. The company also noted a 99% gross renewal rate, indicating strong customer satisfaction and retention.

Strong Cloud Subscription Revenue Growth

Appian's cloud subscription revenue grew 22% year-over-year to $94.1 million, with a stable gross renewal rate of 99%.

Positive Financial Performance

Adjusted EBITDA was positive $10.8 million, significantly improved from a loss of $5.3 million in the previous year.

Federal Sector Expansion

Appian is now a service provider for all 15 U.S. cabinet-level agencies, highlighting strong growth in the federal sector.

Financial Services Sector Success

Appian secured deals with major financial institutions, including a global bank, indicating strong market position in financial services.

Improved EBITDA Guidance

Appian now expects positive adjusted EBITDA for the full year 2024, an improvement from the previous breakeven forecast.

New Leadership Appointments

Mark Dorsey joined as Chief Revenue Officer, and Boe Hartman and Michael Beckley were elected to the Board of Directors.

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Appian (APPN) Earnings, Revenues Date & History

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APPN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 13, 2025	2024 (Q4)	-0.01 / -	0.06	―	―	―
Nov 07, 2024	2024 (Q3)	-0.09 / 0.15	-0.2	175.00% (+0.35)
Aug 01, 2024	2024 (Q2)	-0.31 / -0.26	-0.39	33.33% (+0.13)
May 02, 2024	2024 (Q1)	-0.17 / -0.24	-0.27	11.11% (+0.03)
Feb 15, 2024	2023 (Q4)	-0.24 / 0.06	-0.28	121.43% (+0.34)
Nov 02, 2023	2023 (Q3)	-0.26 / -0.20	-0.43	53.49% (+0.23)
Aug 03, 2023	2023 (Q2)	-0.43 / -0.39	-0.46	15.22% (+0.07)
May 09, 2023	2023 (Q1)	-0.29 / -0.27	-0.06	-350.00% (-0.21)
Feb 16, 2023	2022 (Q4)	-0.41 / -0.28	-0.16	-75.00% (-0.12)
Nov 03, 2022	2022 (Q3)	-0.27 / -0.43	-0.22	-95.45% (-0.21)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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APPN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$40.50	$41.56	+2.62%
Aug 01, 2024	$36.94	$29.42	-20.36%
May 02, 2024	$36.73	$31.03	-15.52%
Feb 15, 2024	$33.38	$37.61	+12.67%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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