Appian Corporation (APPN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APPN SEC filings page.
Appian Corporation (APPN) reported $795.3M in revenue over the twelve months to Jun 30, 2026, up 20.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Appian’s improving margins now translate into cash, but the business still operates with negative equity and meaningful debt.
Operating margin improved from-19.8% to0.1% , turning a loss-making cost structure into near break-even operations. That change coincided with operating cash flow moving from a$110M outflow to$62.9M generated, indicating the improvement is reaching cash rather than remaining purely accounting-based.
Gross margin stayed in a narrow
At FY2025 year-end, liabilities exceeded assets by
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Appian Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Appian Corporation has an operating margin of 0.1%, meaning the company retains less than $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from -9.9% the prior year.
Appian Corporation's revenue surged 17.8% year-over-year to $726.9M, reflecting rapid business expansion. This strong growth earns a score of 77/100.
Appian Corporation's current ratio of 1.15 is below the typical benchmark, resulting in a score of 26/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Appian Corporation's free cash flow margin of 8.2% results in a low score of 25/100. Capital expenditures of $3.3M absorb a large share of operating cash flow.
Appian Corporation scores 2.13, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.7B) relative to total liabilities ($738.4M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Appian Corporation passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Appian Corporation reported $1.2M of net income while generating $62.9M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Appian Corporation earns $0.03 in operating income for every $1 of interest expense ($609K vs $20.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Appian Corporation generated $203.3M in revenue in Q2 2026. This represents an increase of 19.1% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
Appian Corporation's EBITDA was -$2.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 65.3% from the same quarter a year earlier. Against the prior quarter it is down 154.2%.
Appian Corporation reported -$11.8M in net income in Q2 2026. This represents a decrease of 3687.5% from the same quarter a year earlier. Against the prior quarter it is down 674.9%.
Appian Corporation earned -$0.16 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 700.0%.
Cash & Balance Sheet
Appian Corporation generated $9.8M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 416.9% from the same quarter a year earlier. Against the prior quarter it is down 79.9%.
Appian Corporation held $121.1M in cash against $226.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Appian Corporation's gross margin was 71.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.
Appian Corporation's operating margin was -2.7% in Q2 2026, reflecting core business profitability. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.2 percentage points.
Appian Corporation's net profit margin was -5.8% in Q2 2026, showing the share of revenue converted to profit. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.1 percentage points.
Not reported for Q2 2026.
Capital Allocation
Appian Corporation invested $47.3M in research and development in Q2 2026. This represents an increase of 10.9% from the same quarter a year earlier. Against the prior quarter it is up 2.1%.
Appian Corporation spent $43.9M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 339.3% from the same quarter a year earlier. Against the prior quarter it is up 101.4%.
Appian Corporation invested $2.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 101.0% from the same quarter a year earlier. Against the prior quarter it is up 1125.0%.
APPN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $203.3M+19.1% | $202.2M+21.5% | $202.9M+21.7% | $187.0M+21.4% | $170.6M+16.5% | $166.4M+11.1% | $166.7M+14.7% | $154.1M+12.4% |
| Cost of Revenue | $58.5M+19.5% | $54.4M+23.5% | $61.3M+14.1% | $45.3M+22.1% | $49.0M+24.2% | $44.0M+15.9% | $53.7M+4.7% | $37.1M+2.8% |
| Gross Profit | $144.7M+18.9% | $147.8M+20.7% | $141.6M+25.3% | $141.7M+21.2% | $121.7M+13.7% | $122.4M+9.4% | $112.9M+20.2% | $117.0M+15.8% |
| R&D Expenses | $47.3M+10.9% | $46.3M+10.7% | $47.4M+4.0% | $40.3M+4.4% | $42.7M+8.1% | $41.8M+5.2% | $45.6M+8.8% | $38.6M+3.9% |
| SG&A Expenses | $32.8M+17.6% | $33.7M+34.3% | $24.0M+4495.8% | $36.4M+5.0% | $27.9M-30.7% | $25.1M-25.0% | -$546K-306.8% | $34.7M+48.0% |
| Operating Income | -$5.4M+50.5% | $3.2M+478.4% | -$687K-113.6% | $13.1M+283.2% | -$11.0M+72.0% | -$834K+95.7% | $5.0M+129.9% | -$7.2M+53.0% |
| EBITDA | -$2.9M+65.3% | $5.4M+236.8% | $1.7M-80.7% | $15.5M+413.0% | -$8.5M+77.1% | $1.6M+109.2% | $8.7M+158.4% | -$5.0M+62.5% |
| Interest Expense | $3.8M-28.9% | $4.2M-21.5% | $4.9M-13.4% | $5.3M-13.9% | $5.3M-12.9% | $5.3M-5.8% | $5.7M+11.6% | $6.2M+25.4% |
| Income Tax | $1.8M+12.5% | $593K-20.0% | $1.5M+317.9% | $1.4M+4.3% | $1.6M+1059.1% | $741K+259.4% | $364K-66.0% | $1.3M+641.0% |
| Net Income | -$11.8M-3687.5% | -$1.5M-29.6% | -$5.1M+62.6% | $7.8M+472.6% | -$312K+99.3% | -$1.2M+96.4% | -$13.6M-36.4% | -$2.1M+90.6% |
| EPS (Basic) | -$0.16 | -$0.020.0% | -$0.07+61.1% | $0.11+466.7% | $0.00+100.0% | -$0.02+95.6% | -$0.18-38.5% | -$0.03+90.0% |
| EPS (Diluted) | -$0.16 | -$0.020.0% | -$0.06+66.7% | $0.10+433.3% | $0.00+100.0% | -$0.02+95.6% | -$0.18-38.5% | -$0.03+90.0% |
| Diluted Shares (Avg) | 73M-1.8% | 74M-0.4% | N/A | 75M+3.0% | 74M+2.6% | 74M+1.1% | N/A | 72M-1.1% |
APPN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $585.7M-0.9% | $623.4M+5.1% | $691.4M+11.3% | $611.7M+11.2% | $590.7M+6.5% | $592.9M-0.4% | $621.0M-1.0% | $549.9M-7.9% |
| Current Assets | $410.0M-0.4% | $454.0M+10.2% | $519.4M+19.3% | $439.4M+21.9% | $411.7M+13.1% | $411.9M+5.6% | $435.5M+5.1% | $360.5M-6.5% |
| Cash & Equivalents | $121.1M+7.9% | $150.0M+11.1% | $135.8M+14.6% | $125.2M+26.3% | $112.2M-7.1% | $135.0M-20.6% | $118.6M-20.6% | $99.2M-24.1% |
| Short-Term Investments | $46.8M-35.6% | $56.0M-13.5% | $51.4M+24.5% | $66.3M+62.5% | $72.5M+155.9% | $64.7M | $41.3M+327.9% | $40.8M+5.4% |
| Accounts Receivable | $171.2M+13.2% | $173.9M+27.8% | $255.1M+30.8% | $172.6M+23.1% | $151.2M+14.8% | $136.0M+5.2% | $195.1M+13.7% | $140.2M+5.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $28.0M-2.7% | $28.1M+6.0% | $28.8M+12.7% | $28.8M+5.0% | $28.8M+9.3% | $26.5M+0.1% | $25.6M-5.7% | $27.5M+5.7% |
| Total Liabilities | $690.9M+7.2% | $682.3M+9.2% | $738.4M+13.0% | $660.3M+10.1% | $644.5M+7.4% | $624.6M+3.2% | $653.7M+13.7% | $599.7M+13.4% |
| Current Liabilities | $411.8M+18.6% | $402.7M+21.9% | $452.1M+27.4% | $370.1M+24.0% | $347.4M+18.3% | $330.4M+12.4% | $354.8M-4.4% | $298.5M-7.7% |
| Non-Current Liabilities | $279.1M-6.1% | $279.7M-5.0% | $286.3M-4.2% | $290.2M-3.7% | $297.1M-3.1% | $294.3M-5.4% | $298.9M+46.5% | $301.2M+46.5% |
| Long-Term Debt | $226.4M-4.1% | $228.8M-4.0% | $231.2M-4.0% | $233.6M-3.9% | $236.0M-3.9% | $238.4M-3.9% | $240.8M+71.7% | $243.2M+71.3% |
| Total Equity | -$105.2M-95.7% | -$59.0M-85.8% | -$47.0M-44.0% | -$48.5M+2.5% | -$53.7M-17.7% | -$31.7M-228.5% | -$32.6M-162.4% | -$49.8M-173.1% |
| Retained Earnings | -$624.3M-1.7% | -$612.4M+0.1% | -$610.9M+0.2% | -$605.8M-1.2% | -$613.6M-2.9% | -$613.3M-10.9% | -$612.2M-17.7% | -$598.5M-17.4% |
Not reported in any period shown, so not listed: Inventory.
APPN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.1M+722.8% | $48.8M+8.6% | $1.1M-91.8% | $18.7M+327.0% | -$1.9M+89.0% | $45.0M+138.3% | $13.9M+268.3% | -$8.2M+87.3% |
| Depreciation & Amortization | $2.5M0.0% | $2.3M-7.1% | $2.3M-9.9% | $2.4M+9.1% | $2.5M+13.6% | $2.4M+22.3% | $2.5M+20.3% | $2.2M+10.0% |
| Stock-Based Compensation | $10.6M-1.2% | $11.9M+18.4% | N/A | $10.3M+7.9% | $10.7M+8.0% | $10.0M-5.3% | N/A | $9.5M-13.7% |
| Capital Expenditures | $2.3M+101.0% | $188K-71.1% | $867K+69.7% | $654K+84.2% | $1.1M+56.1% | $651K-70.4% | $511K-62.4% | $355K-24.9% |
| Free Cash Flow | $9.8M+416.9% | $48.6M+9.8% | $270K-98.0% | $18.1M+310.0% | -$3.1M+83.2% | $44.3M+165.9% | $13.4M+239.1% | -$8.6M+86.9% |
| Investing Cash Flow | $7.0M+177.7% | -$5.3M+78.1% | $14.6M+1434.7% | $5.6M+144.5% | -$9.0M+69.0% | -$24.1M-422.8% | -$1.1M-104.0% | -$12.7M-148.3% |
| Financing Cash Flow | -$47.5M-252.7% | -$28.8M-422.7% | -$6.1M-174.5% | -$11.2M-520.4% | -$13.5M-450.1% | -$5.5M-29.7% | $8.2M+355.6% | -$1.8M+45.4% |
| Share Buybacks | $43.9M+339.3% | $21.8M | $0 | $10.0M | $10.0M | $0-100.0% | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
APPN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.2%-0.1pp | 73.1%-0.5pp | 69.8%+2.0pp | 75.8%-0.1pp | 71.3%-1.8pp | 73.5%-1.1pp | 67.8%+3.1pp | 75.9%+2.2pp |
| Operating Margin | -2.7%+3.8pp | 1.6%+2.1pp | -0.3%-3.4pp | 7.0%+11.7pp | -6.4%+20.3pp | -0.5%+12.5pp | 3.0%+14.6pp | -4.7%+6.5pp |
| Net Margin | -5.8%-5.6pp | -0.8%0.0pp | -2.5%+5.7pp | 4.2%+5.5pp | -0.2%+29.6pp | -0.7%+21.3pp | -8.2%-1.3pp | -1.4%+14.9pp |
| Return on Assets | -2.0%-2.0pp | -0.2%0.0pp | -0.7%+1.5pp | 1.3%+1.7pp | -0.1%+7.8pp | -0.2%+5.3pp | -2.2%-0.6pp | -0.4%+3.4pp |
| Current Ratio | 1.00-0.2x | 1.13-0.1x | 1.15-0.1x | 1.190.0x | 1.19-0.1x | 1.25-0.1x | 1.23+0.1x | 1.210.0x |
| Asset Turnover | 0.35+0.1x | 0.320.0x | 0.290.0x | 0.310.0x | 0.290.0x | 0.280.0x | 0.270.0x | 0.28+0.1x |
| FCF Margin | 4.8%+6.6pp | 24.1%-2.6pp | 0.1%-7.9pp | 9.7%+15.2pp | -1.8%+10.7pp | 26.6%+15.5pp | 8.0%+14.6pp | -5.6%+42.2pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Note: Shareholder equity is negative (-$47.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Appian Corporation APPN | FY2025 | $726.9M | $1.2M | 0.2% | $2.7B | 31/100 |
| C3.ai, Inc. AI | FY2026 | $250.3M | -$470.4M | N/A | $1.8B | 42/100 |
| BlackBerry Limited BB | FY2026 | $549.1M | $53.2M | 9.7% | $5.6B | 47/100 |
| Payoneer Global Inc. PAYO | FY2025 | $1.1B | $73.2M | 7.0% | $2.4B | 51/100 |
| EVERTEC, INC. EVTC | FY2025 | $931.8M | $145.0M | 15.6% | $1.7B | 65/100 |
| EverCommerce Inc. EVCM | FY2025 | $588.9M | $17.6M | 3.0% | $1.6B | 48/100 |
Where Appian Corporation Ranks
Frequently Asked Questions
What is Appian Corporation's annual revenue?
Appian Corporation (APPN) reported $726.9M in total revenue for fiscal year 2025. This represents a 17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Appian Corporation's revenue growing?
Appian Corporation (APPN) revenue grew by 17.8% year-over-year, from $617.0M to $726.9M in fiscal year 2025.
Is Appian Corporation profitable?
Yes, Appian Corporation (APPN) reported a net income of $1.2M in fiscal year 2025, with a net profit margin of 0.2%.
What is Appian Corporation's EBITDA?
Appian Corporation (APPN) had EBITDA of $10.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Appian Corporation have?
As of fiscal year 2025, Appian Corporation (APPN) had $135.8M in cash and equivalents against $231.2M in long-term debt.
What is Appian Corporation's gross margin?
Appian Corporation (APPN) had a gross margin of 72.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Appian Corporation's operating margin?
Appian Corporation (APPN) had an operating margin of 0.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Appian Corporation's net profit margin?
Appian Corporation (APPN) had a net profit margin of 0.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Appian Corporation's free cash flow?
Appian Corporation (APPN) generated $59.6M in free cash flow during fiscal year 2025. This represents a 1833.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Appian Corporation's operating cash flow?
Appian Corporation (APPN) generated $62.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Appian Corporation's total assets?
Appian Corporation (APPN) had $691.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Appian Corporation's capital expenditures?
Appian Corporation (APPN) invested $3.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Appian Corporation spend on research and development?
Appian Corporation (APPN) invested $172.2M in research and development during fiscal year 2025.
What is Appian Corporation's current ratio?
Appian Corporation (APPN) had a current ratio of 1.15 as of fiscal year 2025, which is considered adequate.
What is Appian Corporation's return on assets (ROA)?
Appian Corporation (APPN) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Appian Corporation's P/E ratio?
Appian Corporation (APPN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.7B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Appian Corporation's price-to-sales ratio?
Appian Corporation (APPN) trades at 3.4x sales, its market capitalization divided by revenue of $795.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.7B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Appian Corporation's debt-to-equity ratio negative or not reported?
Appian Corporation (APPN) has negative shareholder equity of -$47.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Appian Corporation's Altman Z-Score?
Appian Corporation (APPN) has an Altman Z-Score of 2.13, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Appian Corporation's Piotroski F-Score?
Appian Corporation (APPN) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Appian Corporation's earnings high quality?
Appian Corporation (APPN) reported $1.2M of net income while generating $62.9M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Appian Corporation cover its interest payments?
Appian Corporation (APPN) has an interest coverage ratio of 0.03x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Appian Corporation?
Appian Corporation (APPN) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.