Appian Stock Price, News & Analysis

Appian has opened its first Technology Innovation Center in Seville, Spain, to meet the increasing demand for its Low-Code Platform across Europe, the Middle East, and Africa. This facility is located in the Cartuja Science and Technology Park and aims to hire locally to support its growing customer base. The company's presence in Seville aligns with its previous expansion efforts in Europe, having established its EMEA headquarters in London and its first office in Madrid. Appian plans to double its team in Seville in the upcoming years.

Appian has appointed Laurent Dewailly as the new Regional Vice President for France to spearhead its expansion in response to the rising demand for its Low-Code Platform. The market for low-code development platforms, valued at EUR 7.33 billion in 2021, is projected to reach EUR 35 billion by 2027, with a CAGR near 30%. Dewailly, with over 20 years of experience, aims to enhance Appian's growth in France and capitalize on the strong customer loyalty reflected in a 100% retention rate this year.

Appian has won a significant legal victory, with a Virginia jury awarding it $2.036 billion in damages from Pegasystems for trade secret misappropriation and violation of the Virginia Computer Crimes Act. The jury deemed Pegasystems' actions as willful and malicious. During the trial, Appian demonstrated that Pegasystems hired a contractor to gain unauthorized access to its software, using the information to enhance their competitive offerings. This verdict may represent the largest damages award in Virginia state court history, although Pegasystems plans to appeal.

Appian (NASDAQ: APPN) announced its participation in several upcoming investor conferences, where management will present and hold meetings with institutional investors. Key events include:

• Needham Technology & Media Conference on May 16, 2022
• Cowen Technology, Media & Telecom Conference on June 1, 2022
• Jefferies Software Conference with 1x1 meetings on June 2, 2022
• William Blair Growth Stock Conference on June 8, 2022

The presentations will be webcast live, with replays available on their investor relations website.

Appian reported strong first-quarter results for 2022, highlighting a 37% increase in cloud subscription revenue to $53.4 million year-over-year. Total subscription revenue rose 31% to $83.7 million, while total revenue grew 29% to $114.3 million. Despite these gains, the company faced a GAAP net loss of $(23.2) million and an adjusted EBITDA loss of $(3.4) million. Guidance for Q2 indicates expected cloud subscription revenue between $55.8 million and $56.3 million, reflecting a 31%-32% growth.

Appian (NASDAQ: APPN) launched the #lowcode4all initiative, aimed at providing free low-code education and certification to enhance career opportunities for aspiring developers. The program targets current and returning students, unemployed individuals, and military veterans, with Appian planning to award at least 1,000 scholarships this year. Participants will receive a comprehensive curriculum, a Low-Code Ready Badge for LinkedIn, and access to hiring recruiters. Appian also established a coalition with various partners to broaden the initiative's reach.

Appian (NASDAQ: APPN) has announced it will release its financial results for Q1 2022 after market close on May 5, 2022. The company will host a conference call at 4:30 PM ET to discuss these results and its business outlook. Interested parties can join by calling 1-877-243-0931 (U.S.) or 1-212-231-2935 (international). A replay of the call will be available until May 12, 2022, and the webcast can be accessed through Appian's Investor Relations page.