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Appian (Nasdaq: APPN) grows Q2 revenue 19% but posts $11.8M loss

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Appian Corporation reported second quarter 2026 total revenue of $203.3 million, up 19% year-over-year, driven by cloud subscriptions revenue of $131.7 million, up 23%, and total subscriptions revenue of $157.7 million, up 19%. Professional services revenue grew 20% to $45.6 million.

GAAP operating loss narrowed to $5.4 million, but GAAP net loss widened to $11.8 million, or $(0.16) per share, versus near breakeven a year earlier. On a non-GAAP basis, operating income was $13.6 million and net income was $9.2 million, or $0.13 per share. Adjusted EBITDA was $16.2 million, up from $8.1 million.

Net cash provided by operating activities was $12.1 million for the quarter, compared with $(1.9) million used a year ago. Cloud net annualized recurring revenue expansion was 115% as of June 30, 2026. Guidance for third quarter and full year 2026 targets continued double-digit growth in cloud subscriptions and total revenue, with adjusted EBITDA of $30.0–$33.0 million for Q3 and $104.0–$110.0 million for 2026.

Positive

  • Cloud subscriptions revenue up 23% to $131.7M and ARR expansion 115%.
  • Non-GAAP net income $9.2M; adjusted EBITDA $16.2M, doubling year-over-year.
  • Quarterly operating cash flow improved to $12.1M from $(1.9)M.

Negative

  • GAAP net loss widened to $(11.8)M from $(0.3)M year-over-year.
  • Stockholders’ deficit increased to about $(105.2)M from $(47.0)M at year-end.

Filing Explained

By June 30, Appian held $121,111 thousand cash and had repurchased $65,736 thousand of common stock during the first six months.

This Form 8-K reports specified material events and furnishes Appian’s second-quarter results, with the results and outlook disclosed as of August 6, 2026. The structural change for holders is financial rather than a new issuance: during the first six months, the company used $76,255 thousand in financing activities, including $65,736 thousand for common-stock repurchases.

At June 30, 2026, Appian reported $121,111 thousand of cash and cash equivalents and $46,755 thousand of short-term investments, alongside $9,598 thousand of current debt and $226,429 thousand of long-term debt. The balance sheet also reported 43.5 million Class A shares and 31.1 million Class B shares issued, with 2.8 million shares held as treasury stock.

The company’s non-GAAP measures exclude stock-based compensation, specified litigation-related expenses, JPI amortization, lease-related charges, and certain foreign-exchange effects. Accordingly, the reported $16.2 million adjusted EBITDA is presented alongside a GAAP net loss of $11,817 thousand, rather than as a replacement for GAAP results or operating cash flow.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Total revenue Q2 2026 $203.3 million Three months ended June 30, 2026; up 19% year-over-year
Cloud subscriptions revenue Q2 2026 $131.7 million Up 23% compared to the second quarter of 2025
GAAP net loss Q2 2026 $(11.8) million Net loss for the three months ended June 30, 2026
Non-GAAP net income Q2 2026 $9.2 million Compared to $0.3 million in the second quarter of 2025
Adjusted EBITDA Q2 2026 $16.2 million Compared to adjusted EBITDA of $8.1 million in Q2 2025
Net cash from operating activities Q2 2026 $12.1 million Three months ended June 30, 2026; versus $(1.9) million in Q2 2025
Cloud net ARR expansion 115% Cloud net annualized recurring revenue expansion as of June 30, 2026
Cloud net annualized recurring revenue financial
"Cloud net annualized recurring revenue (“ARR”) expansion was 115% as of June 30, 2026"
Adjusted EBITDA financial
"Adjusted EBITDA was $16.2 million, compared to adjusted EBITDA of $8.1 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-GAAP net income financial
"Non-GAAP net income was $9.2 million, compared to $0.3 million"
Non-GAAP net income is a company's profit figure that excludes certain costs or income that are included in standard accounting methods. Companies often use it to show what their earnings might look like without one-time expenses or other unusual items, helping investors see the company's core performance more clearly.
Litigation Expense financial
"certain non-ordinary litigation-related expenses consisting of legal and other professional fees associated with the Pegasystems cases"
JPI Amortization financial
"amortization of the judgment preservation insurance policy, or JPI Amortization"
Total revenue $203.3 million up 19% compared to the second quarter of 2025
Cloud subscriptions revenue $131.7 million up 23% compared to the second quarter of 2025
GAAP net loss $(11.8) million compared to $(0.3) million in the second quarter of 2025
Non-GAAP net income $9.2 million compared to $0.3 million in the second quarter of 2025
Adjusted EBITDA $16.2 million up from $8.1 million in the second quarter of 2025
Guidance

For Q3 2026, the company expects cloud subscriptions revenue of $133.0–$135.0 million (17–19% growth) and total revenue of $214.0–$218.0 million, with adjusted EBITDA of $30.0–$33.0 million and non-GAAP EPS of $0.31–$0.35 based on 72.6 million shares. For full year 2026, guidance is cloud subscriptions revenue of $525.0–$529.0 million (20–21% growth), total revenue of $845.0–$853.0 million (16–17% growth), adjusted EBITDA of $104.0–$110.0 million, and non-GAAP EPS of $1.04–$1.12 based on 73.2 million shares.

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FAQ

How did Appian (APPN) perform financially in Q2 2026?
Appian delivered $203.3 million in Q2 2026 revenue, up 19% year-over-year. Cloud subscriptions were $131.7 million, up 23%. GAAP net loss was $(11.8) million, while non-GAAP net income reached $9.2 million and adjusted EBITDA was $16.2 million.

What were Appian’s (APPN) key revenue drivers in Q2 2026?
Revenue growth was led by cloud subscriptions of $131.7 million, up 23% year-over-year. Total subscriptions revenue rose to $157.7 million, up 19%, and professional services revenue reached $45.6 million, a 20% increase versus the second quarter of 2025.

Did Appian (APPN) generate profit or loss in Q2 2026 on GAAP and non-GAAP bases?
On a GAAP basis, Appian reported a net loss of $(11.8) million, or $(0.16) per share. On a non-GAAP basis, it reported net income of $9.2 million, or $0.13 per share, with non-GAAP operating income of $13.6 million.

How strong was Appian’s (APPN) cash flow in Q2 2026?
Net cash provided by operating activities was $12.1 million for the three months ended June 30, 2026. This compares with $(1.9) million of net cash used in operating activities in the same period of 2025, reflecting improved cash generation.

What guidance did Appian (APPN) give for Q3 2026?
For Q3 2026, Appian expects cloud subscriptions revenue of $133.0–$135.0 million (17–19% growth) and total revenue of $214.0–$218.0 million. Adjusted EBITDA is projected at $30.0–$33.0 million, with non-GAAP EPS of $0.31–$0.35, assuming 72.6 million shares.

What is Appian’s (APPN) full-year 2026 outlook?
For 2026, Appian forecasts cloud subscriptions revenue of $525.0–$529.0 million (20–21% growth) and total revenue of $845.0–$853.0 million. It projects adjusted EBITDA of $104.0–$110.0 million and non-GAAP EPS of $1.04–$1.12, based on 73.2 million shares.

How is Appian (APPN) using non-GAAP metrics like adjusted EBITDA?
Appian reports non-GAAP net income and adjusted EBITDA to exclude stock-based compensation, litigation-related expenses, certain lease charges, foreign exchange effects, and related tax impacts. Management uses these measures for period comparisons, planning, and assessing operating performance alongside GAAP results.
false000144168300014416832026-08-062026-08-06

 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 6, 2026
Appian Corporation
(Exact name of Registrant as Specified in Its Charter)
Delaware001-3809854-1956084
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
 Identification No.)
7950 Jones Branch Drive
McLean, VA
22102
(Address of principal executive offices)(Zip Code)
Registrant’s Telephone Number, Including Area Code: (703) 442-8844

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of each classTrading symbolName of each exchange on which registered
Class A Common StockAPPNThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o 



Item 2.02 Results of Operations and Financial Condition.

On August 6, 2026, Appian Corporation (the "Company") issued a press release announcing its financial results for the second quarter ended June 30, 2026, as well as information regarding a conference call to discuss these financial results and the Company's recent business highlights and financial outlook. The Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information included in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.
Exhibit No.Description
99.1
Press release dated August 6, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Appian Corporation
Date: August 6, 2026
By:/s/ Srdjan Tanjga
Srdjan Tanjga
Chief Financial Officer


Exhibit 99.1
appian2021white-bluefieldaa.jpg

Appian Announces Second Quarter 2026 Financial Results

Cloud subscriptions revenue increased 23% year-over-year to $131.7 million.

McLean, VA – August 6, 2026 – Appian (Nasdaq: APPN) today announced financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights:

•Revenue: Cloud subscriptions revenue was $131.7 million, up 23% compared to the second quarter of 2025. Total subscriptions revenue increased 19% year-over-year to $157.7 million. Professional services revenue was $45.6 million, an increase of 20% compared to the second quarter of 2025. Total revenue was $203.3 million, up 19% compared to the second quarter of 2025. Cloud net annualized recurring revenue (“ARR”) expansion was 115% as of June 30, 2026.
•Operating loss and non-GAAP operating income: GAAP operating loss was $(5.4) million, compared to GAAP operating loss of $(11.0) million for the second quarter of 2025. Non-GAAP operating income was $13.6 million, compared to non-GAAP operating income of $5.6 million for the second quarter of 2025.
•Net loss and non-GAAP net income: GAAP net loss was $(11.8) million, compared to $(0.3) million for the second quarter of 2025. GAAP net loss per share was $(0.16) for the second quarter of 2026, compared to breakeven for the second quarter of 2025. Non-GAAP net income was $9.2 million, compared to $0.3 million for the second quarter of 2025. Non-GAAP net income per share was $0.13, compared to breakeven for the second quarter of 2025.
•Adjusted EBITDA: Adjusted EBITDA was $16.2 million, compared to adjusted EBITDA of $8.1 million for the second quarter of 2025.
•Cash flows: Net cash provided by operating activities was $12.1 million for the three months ended June 30, 2026 compared to $(1.9) million of net cash used by operating activities for the same period in 2025.

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.”

Financial Outlook:

As of August 6, 2026, guidance for 2026 is as follows:

•Third Quarter 2026 Guidance:

◦Cloud subscriptions revenue is expected to be between $133.0 million and $135.0 million, representing year-over-year growth of 17% to 19%.
◦Total revenue is expected to be between $214.0 million and $218.0 million, representing a year-over-year increase of 14% to 17%.
◦Adjusted EBITDA is expected to be between $30.0 million and $33.0 million.


◦Non-GAAP earnings per share is expected to be between $0.31 and $0.35, assuming weighted average common shares outstanding of 72.6 million.

•Full Year 2026 Guidance:

◦Cloud subscriptions revenue is expected to be between $525.0 million and $529.0 million, representing year-over-year growth of 20% to 21%.
◦Total revenue is expected to be between $845.0 million and $853.0 million, representing a year-over-year increase of 16% to 17%.
◦Adjusted EBITDA is expected to be between $104.0 million and $110.0 million.
◦Non-GAAP earnings per share is expected to be between $1.04 and $1.12, assuming weighted average common shares outstanding of 73.2 million.

Conference Call Details:

Appian will host a conference call today, August 6, 2026, at 8:30 a.m. ET to discuss Appian's financial results for the second quarter ended June 30, 2026 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.

About Appian

Appian provides process automation technology. We automate complex processes in large enterprises and governments. Our platform is known for its unique reliability and scale. We’ve been automating processes for 25 years and understand enterprise operations like no one else. 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 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 sales and marketing expense, non-GAAP research and development expense, non-GAAP general and administrative expense, non-GAAP total operating expense, non-GAAP non-operating (expense) income, non-GAAP income tax expense, non-GAAP net income, and non-GAAP net income per share, basic and diluted. These non-GAAP financial performance measures exclude the effect of stock-based compensation expense, unrealized foreign exchange rate gains and losses, 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
1 https://register-conf.media-server.com/register/BI28813a37ca7a432497f0bb1cdcef1e12


preservation insurance policy, or JPI Amortization, and lease impairments and lease-related charges associated with actions taken to reduce the footprint of our leased office spaces, or Lease Impairment and Lease-Related Charges. 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. Appian 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, and (8) 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 depiction 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 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 third quarter and full year 2026, 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 market opportunity and the expansion of its core software markets in general, the opportunity and disruptive impact of AI, the effects of increased competition, as well as innovations by new and existing competitors in its market, Appian’s ability to effectively manage or sustain its growth and to maintain profitability, Appian’s ability to maintain, or strengthen awareness of, its brand, 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
investors@appian.com

Media Contact
pr@appian.com


APPIAN CORPORATION
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value and share data) 
As of
June 30, 2026December 31, 2025
(unaudited)
Assets
Current assets
Cash and cash equivalents$121,111 $135,810 
Short-term investments and marketable securities46,755 51,415 
Accounts receivable, net of allowance of $3,416 and $3,362, respectively
171,162 255,063 
Deferred commissions, current38,026 35,166 
Prepaid expenses and other current assets32,952 41,970 
Total current assets410,006 519,424 
Property and equipment, net of accumulated depreciation of $42,933 and $40,747, respectively
30,667 32,087 
Goodwill27,973 28,811 
Intangible assets, net of accumulated amortization of $7,710 and $7,301, respectively
588 1,246 
Right-of-use assets for operating leases30,437 28,075 
Deferred commissions, net of current portion67,376 65,199 
Deferred tax assets4,857 4,850 
Other assets13,809 11,703 
Total assets$585,713 $691,395 
Liabilities and Stockholders’ Deficit
Current liabilities
Accounts payable$8,077 $6,655 
Accrued expenses21,662 18,483 
Accrued compensation and related benefits43,035 61,781 
Deferred revenue314,263 341,281 
Debt9,598 9,598 
Operating lease liabilities14,171 13,181 
Other current liabilities1,012 1,128 
Total current liabilities411,818 452,107 
Long-term debt226,429 231,228 
Non-current operating lease liabilities45,128 45,693 
Deferred revenue, non-current7,208 8,962 
Other non-current liabilities311 398 
Total liabilities690,894 738,388 
Stockholders’ deficit
Class A common stock—par value $0.0001; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025 and 43,504,355 and 43,408,828 shares issued as of June 30, 2026 and December 31, 2025, respectively
4 4 
Class B common stock—par value $0.0001; 100,000,000 shares authorized as June 30, 2026 and December 31, 2025 and 31,087,385 and 31,088,085 shares issued as of June 30, 2026 and December 31, 2025, respectively
3 3 
Treasury stock at cost, 2,795,084 and 542,288 shares as of June 30, 2026 and December 31, 2025, respectively
(70,391)(16,935)
Additional paid-in capital623,090 617,318 
Accumulated other comprehensive loss(33,624)(36,462)
Accumulated deficit(624,263)(610,921)
Total stockholders’ deficit(105,181)(46,993)
Total liabilities and stockholders’ deficit$585,713 $691,395 


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

Three Months Ended June 30,Six months ended June 30,
2026202520262025
Revenue
Subscriptions$157,682 $132,657 $317,993 $267,009 
Professional services45,574 37,983 87,443 70,057 
Total revenue203,256 170,640 405,436 337,066 
Cost of revenue
Subscriptions25,409 20,707 48,313 39,228 
Professional services33,104 28,247 64,611 53,766 
Total cost of revenue58,513 48,954 112,924 92,994 
Gross profit144,743 121,686 292,512 244,072 
Operating expenses
Sales and marketing70,113 62,157 134,732 118,467 
Research and development47,305 42,655 93,629 84,485 
General and administrative32,765 27,858 66,435 52,938 
Total operating expenses150,183 132,670 294,796 255,890 
Operating loss(5,440)(10,984)(2,284)(11,818)
Other non-operating expense (income)
Other expense (income), net827 (17,564)743 (23,280)
Interest expense3,780 5,319 7,952 10,637 
Total other non-operating expense (income)4,607 (12,245)8,695 (12,643)
(Loss) income before income taxes(10,047)1,261 (10,979)825 
Income tax expense1,770 1,573 2,363 2,314 
Net loss$(11,817)$(312)$(13,342)$(1,489)
Net loss per Class A and Class B share:
Basic and diluted
$(0.16)$(0.00)$(0.18)$(0.02)
Weighted average common shares outstanding:
Basic and diluted
72,896 74,202 73,348 74,148 



APPIAN CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands)
Six Months Ended June 30,
20262025
Cash flows from operating activities
Net loss$(13,342)$(1,489)
Adjustments to reconcile net loss to net cash provided by operating activities
Stock-based compensation22,449 20,732 
Depreciation expense and amortization of intangible assets4,780 4,970 
Bad debt expense634 550 
Amortization of debt issuance costs300 300 
Benefit for deferred income taxes(68)(689)
Foreign currency transaction losses (gains), net3,372 (20,659)
Changes in assets and liabilities
Accounts receivable82,946 49,720 
Prepaid expenses and other assets6,991 10,174 
Deferred commissions(5,037)3,228 
Accounts payable and accrued expenses4,298 7,559 
Accrued compensation and related benefits(17,348)(3,811)
Other current and non-current liabilities(538)(277)
Deferred revenue(26,590)(25,611)
Operating lease assets and liabilities, net(1,938)(1,671)
Net cash provided by operating activities60,909 43,026 
Cash flows from investing activities
Proceeds from maturities of investments49,079 27,985 
Purchases of investments(44,866)(59,281)
Purchases of property and equipment(2,491)(1,797)
Net cash provided by (used by) investing activities1,722 (33,093)
Cash flows from financing activities
Debt repayments(5,000)(5,000)
Repurchases of common stock(65,736)(10,000)
Payments for employee taxes related to the net share settlement of equity awards(6,395)(4,469)
Proceeds from exercise of common stock options876 504 
Net cash used by financing activities(76,255)(18,965)
Effect of foreign exchange rate changes on cash and cash equivalents(1,075)2,687 
Net decrease in cash and cash equivalents(14,699)(6,345)
Cash and cash equivalents at beginning of period135,810 118,552 
Cash and cash equivalents at end of period$121,111 $112,207 
Supplemental disclosure of cash flow information:
Cash paid for interest$7,338 $10,023 
Cash paid for income taxes$2,542 $1,997 
Supplemental disclosure of non-cash investing and financing information:
Accrued capital expenditures$408 $54 
Operating lease liabilities arising from obtaining right-of-use assets$5,370 $— 


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

GAAP MeasureStock-Based CompensationLitigation ExpenseJPI AmortizationLease Impairment and Lease-Related ChargesUnrealized Foreign Exchange Rate Gains and LossesNon-GAAP Measure
Three Months Ended June 30, 2026
Subscriptions cost of revenue$25,409 $(497)$— $— $— $— $24,912 
Professional services cost of revenue33,104 (1,520)— — — — 31,584 
Total cost of revenue58,513 (2,017)— — — — 56,496 
Sales and marketing expense70,113 (1,963)— — — — 68,150 
Research and development expense47,305 (3,382)— — — — 43,923 
General and administrative expense32,765 (3,198)(6,293)(1,957)(279)— 21,038 
Total operating expense150,183 (8,543)(6,293)(1,957)(279)— 133,111 
Operating (loss) income(5,440)10,560 6,293 1,957 279 — 13,649 
Non-operating expense (income) 827 — — — — (2,523)(1,696)
Income tax impact of above items1,770 504 — — — 95 2,369 
Net (loss) income(11,817)10,056 6,293 1,957 279 2,428 9,196 
Net (loss) income per share, basic$(0.16)$0.14 $0.09 $0.03 $— $0.03 $0.13 
Net (loss) income per share, diluted(a)
$(0.16)$0.14 $0.09 $0.03 $— $0.03 $0.13 
Three Months Ended June 30, 2025
Subscriptions cost of revenue$20,707 $(418)$— $— $— $— $20,289 
Professional services cost of revenue28,247 (1,400)— — — — 26,847 
Total cost of revenue48,954 (1,818)— — — — 47,136 
Sales and marketing expense62,157 (2,087)— — — — 60,070 
Research and development expense42,655 (3,357)— — — — 39,298 
General and administrative expense27,858 (3,431)(2,482)(3,118)(297)— 18,530 
Total operating expense132,670 (8,875)(2,482)(3,118)(297)— 117,898 
Operating (loss) income(10,984)10,693 2,482 3,118 297 — 5,606 
Non-operating (income) expense(17,564)— — — — 16,754 (810)
Income tax impact of above items1,573 295 — — — (1,059)809 
Net (loss) income(312)10,398 2,482 3,118 297 (15,695)288 
Net (loss) income per share, basic$(0.00)$0.14 $0.03 $0.04 $— $(0.21)$0.00 
Net (loss) income per share, diluted(a)
$(0.00)$0.14 $0.03 $0.04 $— $(0.21)$0.00 
(a) Accounts for the impact of 0.4 million shares of dilutive securities.



GAAP MeasureStock-Based CompensationLitigation ExpenseJPI AmortizationLease Impairment and Lease-Related ChargesUnrealized Foreign Exchange Rate Gains and LossesNon-GAAP Measure
Six months ended June 30, 2026
Subscriptions cost of revenue$48,313 $(1,056)$— $— $— $— $47,257 
Professional services cost of revenue64,611 (3,158)— — — — 61,453 
Total cost of revenue112,924 (4,214)— — — — 108,710 
Sales and marketing expense134,732 (4,366)— — — — 130,366 
Research and development expense93,629 (7,117)— — — — 86,512 
General and administrative expense66,435 (6,752)(13,241)(4,012)(581)— 41,849 
Total operating expense294,796 (18,235)(13,241)(4,012)(581)— 258,727 
Operating (loss) income(2,284)22,449 13,241 4,012 581 — 37,999 
Non-operating expense (income)743 — — — — (3,371)(2,628)
Income tax impact of above items2,363 1,011 — — — 294 3,668 
Net (loss) income (13,342)21,438 13,241 4,012 581 3,077 29,007 
Net (loss) income per share, basic(c)
$(0.18)$0.29 $0.18 $0.05 $0.01 $0.04 $0.40 
Net (loss) income per share, diluted(a)
$(0.18)$0.29 $0.18 $0.05 $0.01 $0.04 $0.39 
Six months ended June 30, 2025
Subscriptions cost of revenue$39,228 $(916)$— $— $— $— $38,312 
Professional services cost of revenue53,766 (2,856)— — — — 50,910 
Total cost of revenue92,994 (3,772)— — — — 89,222 
Sales and marketing expense118,467 (4,333)— — — — 114,134 
Research and development expense84,485 (6,371)— — — — 78,114 
General and administrative expense52,938 (6,256)(4,194)(6,202)(609)— 35,677 
Total operating expense255,890 (16,960)(4,194)(6,202)(609)— 227,925 
Operating (loss) income(11,818)20,732 4,194 6,202 609 — 19,919 
Non-operating (income) expense(23,280)— — — — 20,770 (2,510)
Income tax impact of above items2,314 750 — — — (1,326)1,738 
Net (loss) income(1,489)19,982 4,194 6,202 609 (19,444)10,054 
Net (loss) income per share, basic$(0.02)$0.27 $0.06 $0.08 $0.01 $(0.26)$0.14 
Net (loss) income per share, diluted(b,c)
$(0.02)$0.27 $0.06 $0.08 $0.01 $(0.26)$0.13 
(a) Accounts for the impact of 0.5 million shares of dilutive securities.
(b) Accounts for the impact of 0.4 million shares of dilutive securities.
(c) Per share amounts do not foot due to rounding.




Three months ended June 30,Six months ended June 30,
2026202520262025
Reconciliation of adjusted EBITDA:
GAAP net loss$(11,817)$(312)$(13,342)$(1,489)
Other expense (income), net827 (17,564)743 (23,280)
Interest expense3,780 5,319 7,952 10,637 
Income tax expense1,770 1,573 2,363 2,314 
Depreciation expense and amortization of intangible assets2,507 2,524 4,780 4,970 
Stock-based compensation expense10,560 10,693 22,449 20,732 
Litigation Expense6,293 2,482 13,241 4,194 
JPI Amortization1,957 3,118 4,012 6,202 
Lease Impairment and Lease-Related Charges279 297 581 609 
Adjusted EBITDA$16,156 $8,130 $42,779 $24,889 

Source: View Original Filing on SEC EDGAR

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