Appian Stock Price, News & Analysis

Appian (APPN) reported Q2 2024 financial results, showing strong growth in cloud subscription revenue, which increased 19% year-over-year to $88.4 million. Total revenue rose 15% to $146.5 million. The company's cloud subscription revenue retention rate was 118%. Despite these gains, Appian still reported a GAAP net loss of $(43.6) million, or $(0.60) per share.

Notably, Appian AI usage nearly doubled due to enhanced functionality launched in Q2. The company has accelerated its path to profitability, now expecting to achieve adjusted EBITDA breakeven for the full year 2024. For Q3 2024, Appian projects cloud subscription revenue between $89.0-$91.0 million and total revenue of $149.0-$153.0 million.

Appian (Nasdaq: APPN) announces its intention to appeal the decision by the Court of Appeals of Virginia and seek reinstatement of its judgment against Pegasystems Inc. for willful and malicious trade secret misappropriation. The appeal follows a jury verdict based on extensive testimony and evidence demonstrating Pegasystems' use of a "spy" to analyze Appian's software and improve its own product. The Court of Appeals upheld that Appian presented sufficient evidence of its trade secrets and their protection. Appian believes the Court's ruling on burden shifting for damages isolates Virginia from other states' views on trade secret protection. The company remains confident in the evidence of misappropriation and its right to corresponding damages.

Appian (Nasdaq: APPN) has announced it will release its second quarter 2024 financial results on Thursday, August 1, 2024, before the U.S. financial markets open. The company will host a conference call and live webcast at 8:30 a.m. Eastern Time to review its financial results and business outlook.

Interested parties can access the call through a registration link, which provides options for dial-in or instant call connection. The conference call will also be available via live webcast on Appian's Investor Relations page. A replay of the webcast will be accessible on the same page after the live call concludes.

Appian (Nasdaq: APPN) announced that Stephanie Eade, Senior Director of Global Partner Marketing, has been named to Channel Insider's inaugural Channel Marketing Leaders 100 list. This list honors 100 top IT channel marketers who support the growth of their organization's North American IT channel partner programs. Eade's recognition underscores her dedication and innovative partner marketing strategies. Appian values its partners, who have been integral to the company's growth since its founding in 1999. The company's partner-driven strategy helps mutual customers achieve success through a unified platform for process automation, trusted by leading organizations like Accenture, Capgemini, and Deloitte.

Appian (Nasdaq: APPN) has partnered with ReleasePoint to enhance life insurance underwriting through automation.

The collaboration integrates ReleasePoint's medical information solutions with Appian's Connected Underwriting Life Workbench. This integration automates the medical record retrieval process and combines it with underwriting workflows, saving time and improving decision-making for underwriters.

ReleasePoint brings over 50 years of experience in medical record retrieval, leveraging its MIDAS technology for detailed health history reviews.

Appian's AI-driven platform facilitates faster, more accurate underwriting and reduces IT implementation efforts.

The partnership aims to improve operational efficiency, reduce manual errors, and elevate customer satisfaction in the life insurance industry.

Appian announced that Vishal Hanjan, its Regional Vice President of Sales for State & Local Government and Education (SLED), was recognized with a StateScoop 50 Award for his leadership in government IT. Hanjan, with over 15 years of experience in software technology, has significantly contributed to improving state and local government processes through modernization and automation. His efforts include streamlining the Texas Department of Public Safety's contract awards process using Appian's Government Award Management solution, deployed in collaboration with Deloitte. The StateScoop 50 Awards highlight top leaders and projects in state government IT, presented at the National Association of State Chief Information Officers' midyear conference.

Appian (APPN) has been recognized as a Leader in the 2024 Gartner Magic Quadrant for Process Mining Platforms report. The company offers faster data prep, automated process analysis, and a low-code experience for optimizing process performance. Appian's Process HQ integrates data fabric, process mining, machine learning, and generative AI to streamline manual data prep and enhance process efficiency and intelligence.

Appian (Nasdaq: APPN) announced its first quarter 2024 financial results, showcasing significant growth in cloud subscription revenue, total subscriptions revenue, and total revenue year-over-year. Despite a decrease in professional services revenue, the company reported an overall positive financial performance. Appian also highlighted key business achievements and collaborations, emphasizing its focus on AI-driven services and process mining. The company provided guidance for the second quarter and full year 2024, projecting continued growth in cloud subscription revenue, total revenue, and adjusted EBITDA. Appian's commitment to technological innovation and strategic partnerships positions it for further success in the industry.