APPN - Appian Non-GAAP EPS of -$0.46 misses by $0.12 revenue of $110.06M beats by $6.09M raises FY22 revenue guidance

• Appian press release ( NASDAQ: APPN ): Q2 Non-GAAP EPS of -$0.46 misses by $0.12 .
• Revenue of $110.06M (+32.6% Y/Y) beats by $6.09M .
• Cloud subscription revenue was $57.1 million, up 34% compared to the second quarter of 2021. Total subscriptions revenue increased 35% year-over-year to $76.7 million. Professional services revenue was $33.4 million
• Third Quarter 2022 Guidance:
  • Cloud subscription revenue is expected to be between $60.8 million and $61.3 million, representing year-over-year growth of 30% to 31%.
  • Total revenue is expected to be between $115.0 million and $117.0 million vs. $112.98M consensus, representing a year-over-year increase of 24% to 27%.
  • Adjusted EBITDA loss is expected to be between $(15.0) million and $(13.0) million.
  • Non-GAAP net loss per share is expected to be between $(0.23) and $(0.20) vs. -$0.23 consensus, assuming weighted average common shares outstanding of 72.5 million.
  • Full Year 2022 Guidance:
    • Cloud subscription revenue is expected to be between $236.0 million and $238.0 million, representing year-over-year growth of 32% to 33%.
    • Total revenue is expected to be between $466.0 million and $470.0 million from prior outlook of $453M and $457M vs. $454.15M consensus, representing a year-over-year increase of 26% to 27%.
    • Adjusted EBITDA loss is expected to be between $(53.0) million and $(50.0) million.
    • Non-GAAP net loss per share is expected to be between $(0.91) and $(0.86) from prior outlook of $(0.82)-$(0.77) vs. consensus of $(0.81), assuming weighted average common shares outstanding of 72.5 million.

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