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Appian Corporation reports 2025 revenue of $726.9 million, up from $617.0 million in 2024 and $545.4 million in 2023, while generating GAAP net income of $1.2 million after prior-year losses. The company provides a unified process automation platform combining orchestration, data fabric, security and AI tools for large enterprises and governments.
Appian is leaning heavily into embedded AI and its patented data fabric to turn AI from an assistant into a controlled, workflow-level “digital worker,” but highlights significant competitive, security, and regulatory risks around AI. The customer base is diversified by industry and geography, with 37.6% of 2025 revenue outside the U.S. and U.S. federal agencies contributing 25.3%. High-value customers are growing, with those paying over $1 million in annual recurring revenue rising from 115 to 140 in 2025. As of June 30, 2025, non‑affiliate market value for Class A and B stock totaled $894.9 million, and as of February 17, 2026, Appian had 42,872,259 Class A and 31,087,485 Class B shares outstanding.
Appian Corporation reported strong 2025 results and launched a new buyback. Total revenue rose 18% to $726.9 million, with cloud subscriptions revenue up 19% to $437.4 million. GAAP swung to net income of $1.2 million from a $(92.3) million loss, while non-GAAP net income reached $45.6 million.
Adjusted EBITDA increased to $76.8 million from $20.3 million, and net cash from operating activities improved to $62.9 million. As of December 31, 2025, cash, cash equivalents, and investments totaled $187.2 million. The board authorized a share repurchase program of up to $50.0 million from February 2026 through February 2028.
For 2026, Appian guides cloud subscriptions revenue between $502.0 million and $510.0 million, total revenue between $801.0 million and $817.0 million, adjusted EBITDA between $89.0 million and $99.0 million, and non-GAAP net income per diluted share between $0.82 and $0.96.
Fivespan Partners and Dylan Haggart report a 7.9% stake in Appian Corporation’s Class A common stock. They beneficially own 3,380,907 shares, with shared voting and dispositive power over all of them and no sole authority.
The filing notes that approximately $100.5 million of Fivespan Fund working capital was used to acquire these shares. Percentages are based on 42,735,083 Appian Class A shares outstanding as of November 3, 2025, as reported in Appian’s Form 10-Q for the quarter ended September 30, 2025.
Appian Corporation director David Forrest Link reported a stock grant under the company’s equity plan. On 02/04/2026, he acquired 771 shares of Appian Class A common stock at a price of $0 per share, bringing his directly held total to 771 shares.
The shares were granted under Appian’s 2017 Equity Incentive Plan pursuant to its Non-Employee Director Compensation Policy, as amended and approved by the Board of Directors on December 18, 2020. This filing records routine equity compensation for a non-employee director.
Appian Corporation director reports no share ownership
Appian Corporation director David Forrest Link filed an initial ownership report stating he beneficially owns 0 shares of the company’s Class A common stock in direct form as of January 25, 2026.
Fivespan Partners, LP and Dylan Haggart filed a Schedule 13D disclosing a 6.2% beneficial stake in Appian Corporation through 2,630,907 shares of Class A common stock. They invested approximately $80.8 million, funded by the working capital of Fivespan Partners Fund, Ltd.
The investors state they believe Appian’s shares are undervalued and plan ongoing discussions with management and the board. Topics include business strategy, board composition, capital allocation, mergers and acquisitions, executive pay, and governance, and they may consider additional share purchases, sales, or hedging over time.
Appian Corporation reported that its Board of Directors appointed David Link to the Board on January 15, 2026, with his service effective from January 25, 2026 through the company’s 2026 annual meeting of stockholders. He was also appointed to the Audit Committee, effective the same date.
Mr. Link is the Co-Founder and CEO of ScienceLogic, a global IT operations management and AIOps company, and previously served as a Senior Vice President at Interliant, Inc. He also serves on the Board of the Northern Virginia Technology Council and holds a Bachelor of Science in Geology from Denison University.
The Board determined that Mr. Link is independent under Appian’s governance guidelines and Nasdaq and SEC standards, and disclosed that there are no related-party transactions or arrangements connected to his selection. Under Appian’s non-employee director compensation policy, he will receive an annual board retainer of $250,000, paid half in cash and half in fully vested shares of Appian Class A common stock. Appian also issued a press release on January 21, 2026 announcing these matters.
Appian Corporation (APPN) reported insider activity by its General Counsel on a Form 4. On November 5, 2025, the reporting person acquired 6,104 Class A shares at $0 via RSU conversions (code M) and disposed of 1,827 shares at $29.33 (code F). Following these transactions, the reporting person directly holds 29,782 Class A shares.
The filing also lists multiple RSU grants with defined vesting schedules, including awards granted on August 2, 2022; October 31, 2023; and November 5, 2024, that convert into Class A shares on a one-for-one basis.
Appian (APPN) reported an insider transaction by its Chief Customer Officer on 11/05/2025. The officer acquired 1,034 shares of Class A Common Stock through the vesting and settlement of RSUs at $0 per share (code M), then had 331 shares withheld for taxes at $29.33 (code F).
Following these transactions, the officer directly owned 23,560 shares. The RSUs were granted on November 2, 2021 and vested on November 5, 2025, with each RSU converting into one share.
Appian (APPN) insider activity: the Chief Revenue Officer reported equity transactions. On November 4, 2025, the officer received 38,064 Restricted Stock Units (RSUs), each representing a right to one share of Class A common stock.
On November 5, 2025, 8,729 RSUs converted into Class A shares at $0. To satisfy tax obligations, 2,558 shares were withheld at a price of $29.33, leaving 6,171 shares directly owned afterward. The November 4, 2025 RSU grant vests in four equal annual installments starting November 5, 2026. A prior RSU grant dated November 5, 2024 vests in four equal annual installments starting November 5, 2025.