APPIAN CORP APPN
Appian Corporation (together with its subsidiaries, "Appian," "the Company," "we," or "our") provides process automation technology. For over 25 years, our highly reliable and scalable platform has been leveraged by large enterprises and governments. Combining leading edge process orchestration and intelligence, we provide everything an organization needs to design, automate, and optimize critical processes, facilitating continuous adaptation in changing environments.
The market for process automation is large and growing. According to IDC, the worldwide Business Automation Platform market was $27.8 billion in 2024 and is expected to grow to approximately $70.2 billion in 2029.
Appian provides capabilities to tackle any process challenge. These capabilities are unified and scalable, meeting enterprise demands and easy to change as requirements evolve.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $726.9M | $617.0M | $545.4M | $468.0M | $369.3M | $304.6M | $260.4M | $226.7M | $176.7M | $132.9M |
| Cost of revenue | $199.6M | $168.2M | $160.3M | $133.3M | $104.1M | $88.8M | $93.8M | $84.9M | $64.6M | $50.1M |
| Gross profit | $527.3M | $448.8M | $385.0M | $334.7M | $265.2M | $215.8M | $166.5M | $141.8M | $112.1M | $82.8M |
| R&D | $172.2M | $163.4M | $160.4M | $139.2M | $97.5M | $70.2M | $58.0M | $44.7M | $34.8M | $23.0M |
| SG&A | $113.4M | $107.8M | $82.6M | $120.1M | $83.7M | $53.2M | $41.5M | $37.8M | $27.1M | $17.0M |
| Total operating expenses | $526.7M | $509.6M | $493.0M | $479.7M | $349.1M | $253.7M | $217.0M | $188.5M | $144.0M | $94.2M |
| Operating income | $609.0K | -$60.9M | -$108.0M | -$145.0M | -$83.9M | -$37.9M | -$50.5M | -$46.7M | -$31.8M | -$11.4M |
| Interest expense | $20.9M | $23.6M | $17.9M | $1.7M | — | — | — | — | — | — |
| Pre-tax income | $6.4M | -$91.2M | -$108.2M | -$150.2M | -$87.9M | -$32.6M | -$49.9M | -$49.2M | -$30.2M | -$14.1M |
| Income tax | $5.2M | $1.1M | $3.2M | $692.0K | $778.0K | $883.0K | $820.0K | $239.0K | $761.0K | $1.7M |
| Net income | $1.2M | -$92.3M | -$111.4M | -$150.9M | -$88.6M | -$33.5M | -$50.7M | -$49.5M | -$31.0M | -$12.5M |
| EPS, basic | 0.02 | -1.26 | -1.52 | -2.08 | -1.25 | -0.48 | -0.77 | — | — | — |
| EPS, diluted | 0.02 | -1.26 | -1.52 | -2.08 | -1.25 | -0.48 | -0.77 | -0.80 | -0.63 | -0.39 |
| Shares, diluted (wtd. avg.) | $74.6M | $73.0M | $73.1M | $72.5M | $71.0M | $69.1M | $65.5M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $135.8M | $118.6M | $149.4M | $150.4M | $104.0M | $112.5M | $159.8M | $94.9M | $73.8M | $31.1M |
| Short-term investments | $51.4M | $41.3M | $9.7M | $47.9M | $55.2M | $109.8M | $0 | — | — | — |
| Receivables | $255.1M | $195.1M | $171.6M | $166.0M | $130.0M | $97.3M | $70.4M | $79.4M | $55.3M | $46.8M |
| Total current assets | $519.4M | $435.5M | $414.4M | $422.5M | $338.3M | $365.4M | $277.7M | $209.6M | $145.2M | $88.4M |
| Property, plant and equipment | — | — | — | — | — | — | — | $7.5M | $2.7M | $3.1M |
| Goodwill | $28.8M | $25.6M | $27.1M | $26.3M | $27.8M | $4.9M | $0 | — | — | — |
| Other intangibles | $1.2M | $2.2M | $3.9M | $5.3M | $7.1M | $1.7M | $0 | — | — | — |
| Total assets | $691.4M | $621.0M | $627.5M | $594.2M | $504.5M | $512.5M | $371.5M | $233.2M | $161.1M | $102.7M |
| Accounts payable | $6.7M | $4.3M | $6.2M | $8.0M | $5.8M | $3.0M | $5.2M | $9.2M | $5.2M | $5.1M |
| Short-term debt | $9.6M | $9.6M | $66.4M | $2.7M | $0 | — | — | — | $0 | $6.1M |
| Total current liabilities | $452.1M | $354.8M | $371.2M | $270.3M | $215.7M | $155.9M | $112.3M | $128.4M | $95.1M | $76.0M |
| Long-term debt | $231.2M | $240.8M | $140.2M | $115.4M | $0 | — | — | — | $0 | $13.9M |
| Total liabilities | $738.4M | $653.7M | $575.2M | $448.5M | $270.6M | $215.9M | $166.2M | $160.0M | $115.5M | $110.8M |
| Retained earnings | -$610.9M | -$612.2M | -$519.9M | -$408.5M | -$257.5M | -$168.9M | -$135.4M | -$145.6M | -$96.2M | -$64.8M |
| Total equity | -$47.0M | -$32.6M | $52.3M | $145.7M | $233.9M | $296.6M | $205.2M | $73.2M | $45.5M | -$63.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $62.9M | $6.9M | -$110.4M | -$106.6M | -$53.9M | -$7.6M | -$8.9M | -$31.3M | -$9.1M | -$7.8M |
| Depreciation and amortisation | $8.5M | $8.5M | $8.0M | $5.8M | $4.9M | $5.4M | $4.7M | $2.0M | $900.0K | $800.0K |
| Stock-based compensation | $41.5M | $39.0M | $43.4M | $38.8M | $23.8M | $15.3M | $16.4M | $16.1M | $13.0M | $0 |
| Capital expenditure | $3.3M | $3.8M | $9.6M | $9.1M | $6.1M | $1.3M | $32.4M | $7.0M | $433.0K | $984.0K |
| Investing cash flow | -$12.8M | -$35.4M | $28.6M | $10.3M | $41.9M | -$153.4M | -$32.4M | -$7.0M | -$433.0K | -$984.0K |
| Financing cash flow | -$36.3M | -$258.0K | $79.2M | $142.9M | $2.8M | $110.5M | $105.5M | $61.0M | $50.9M | $10.0M |
| Buybacks | $20.0M | $50.0M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001441683-26-000021.
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