APPN - Appian Q1 earnings beat estimates Q2 guidance in-line

May, 09 2023 04:03 PM Appian Corporation

2023-05-09 16:03:25 ET

Appian ( NASDAQ: APPN ): Q1 Non-GAAP EPS of -$0.27 beats by $0.03 .
Revenue of $135.24M (+18.4% Y/Y) beats by $3.89M .
Subscriptions revenue increased on a yearly basis to $98.96M from $83.72M, while professional services revenue was up to $36.28M from $30.55M.
Cloud subscription revenue was $69.7M, up 31% Y/Y.
Adjusted EBITDA was -$15.8M, compared to -$3.4M a year ago.
Net income stood at -$36.83M from -$23.15M.
As of March 31, Appian had total cash, cash equivalents and investments of $254.5M.
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.
For FY23, revenue is expected to be between $533.0M and $538.0M, vs. $532.57M consensus. 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.
Source: Press Release

For further details see: