APPN - Appian Non-GAAP EPS misses revenue beats FY22 guidance lowered

November, 03 2022 04:12 PM Appian Corporation

Appian ( NASDAQ: APPN ): Q3 non-GAAP EPS of -$0.43 (vs. -$0.22 Y/Y) misses by $0.20 .
Revenue of $117.9M (+27.6% Y/Y) beats by $1.79M .
Adjusted EBITDA of -$22.9M, compared to adjusted EBITDA of -$12.0M Y/Y.
"Adjusted EBITDA loss was higher due to pull forward hiring and a sharp drop in attrition. We have a plan to reduce losses to 10% of revenue by the second half of 2023," CEO Matt Calkins said.
As of Sep. 30, Appian had total unencumbered cash and investments of $92.7M.
For Q4, revenue is expected to be between $121.5M and $123.5M, representing a Y/Y increase of 16% to 18%. Consensus is $127.34M.
Non-GAAP EPS is expected to be between -$0.36 and -$0.42 (vs. consensus of -0.17), assuming weighted average common shares outstanding of 72.7M.
For FY22, revenue is expected to be between $461.0M and $466.0M (vs. consensus of $466.63M and previous guidance of between $466.0M and $470.0M), representing a Y/Y increase of 25% to 26%.
Non-GAAP EPS is expected to be between -$1.30 and -$1.36 (vs. consensus of -$0.90 and previous guidance of between -$0.91 and -$0.86), assuming weighted average common shares outstanding of 72.5M.
Shares were trading post-market

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