Appian Corporation (APPN) Misses Q3 EPS by 20c; Offers FY22 Guidance

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Go back to Appian Corporation (APPN) Misses Q3 EPS by 20c; Offers FY22 Guidance

Appian Announces Third Quarter 2022 Financial Results

November 3, 2022 4:02 PM EDT

Third quarter cloud subscription revenue increased 30% year-over-year to $60.6 million

MCLEAN, Va., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the third quarter ended September 30, 2022.

In Q3, total revenue exceeded guidance. On a constant currency basis, both cloud subscription revenue and total revenue grew more than 30% year-over-year. 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, said Matt Calkins, CEO & Founder.

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