APPN - Appian expects EBITDA to turn positive year after next

2023-05-10 12:50:56 ET

Process automation platform Appian ( NASDAQ: APPN ) expects its EBITDA to turn positive in the year after next, CEO Matt Calkins told Seeking Alpha.

"We intend to cross the breakeven line next year," Calkins told SA after the company's Q1 earnings call.

Appian's Q1 adjusted EBITDA came in at -$15.8M, compared to -$3.4M in the year-ago quarter.

Non-GAAP EPS of -$0.27 beats by $0.03 and revenue of $135.24M (+18.4% Y/Y) beats by $3.89M.

For Q2, revenue is expected to be between $123.0M and $125.0M, vs. consensus of $124.09M. Non-GAAP EPS is expected to be between -$0.46 and -$0.40, vs. consensus of -$0.40.

Cloud subscription revenue is expected to be between $72.0M and $74.0M and adjusted EBITDA to be between -$30.0M and -$26.0M.

Q2 professional services revenue will be down by low-single-digit rate on a sequential basis and on-prem license revenue seasonality will make the quarter the company's weakest quarter of the year, CFO Mark Matheos said during the Q1 earnings call.

For FY23, revenue is expected to be between $533.0M and $538.0M, vs. $532.57M consensus. The revenue guidance has been increased from the prior guidance of between $530M and $535M. Non-GAAP EPS should be between -$1.16 and -$1.09, vs. -$1.14 consensus.

Cloud subscription revenue is expected to be between $296.0M and $298.0M and adjusted EBITDA between -$70.0M and -$65.0M.

More on Appian's Q1 earnings:

Appian Corporation 2023 Q1 - Results - Earnings Call Presentation

For further details see: