{"success":true,"data":{"pressRelease":{"id":"25274","rtpr_id":"nGNX3x1hnX","ticker":"APPN","exchange":"NASDAQ","all_tickers":["APPN"],"title":"Appian Announces First Quarter 2026 Financial Results","author":"Globe Newswire","published_at":"2026-05-07T11:05:00.671Z","article_body":"MCLEAN, Va., May 07, 2026 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today\nannounced financial results for the first quarter ended March 31, 2026.\n\nFirst Quarter 2026 Financial Highlights:\n* Revenue: Cloud subscriptions revenue was $124.5 million, up 25% compared to\nthe first quarter of 2025. Total subscriptions revenue, which includes sales\nof our cloud subscriptions, other subscriptions, and the related maintenance\nand support, increased 19% year-over-year to $160.3 million. Professional\nservices revenue was $41.9 million, an increase of 31% compared to the first\nquarter of 2025. Total revenue was $202.2 million, up 21% compared to the\nfirst quarter of 2025. Cloud net annualized recurring revenue (“ARR”)\nexpansion was 115% as of March 31, 2026.\n* Operating income (loss) and non-GAAP operating income: GAAP operating income\nwas $3.2 million, compared to GAAP operating loss of $(0.8) million for the\nfirst quarter of 2025. Non-GAAP operating income was $24.4 million, compared\nto non-GAAP operating income of $14.3 million for the first quarter of 2025.\n* Net loss and non-GAAP net income: GAAP net loss was $(1.5) million, compared\nto $(1.2) million for the first quarter of 2025. GAAP net loss per share was\n$(0.02) for the first quarter of 2026, compared to $(0.02) for the first\nquarter of 2025. Non-GAAP net income was $19.8 million, compared to $9.8\nmillion for the first quarter of 2025. Non-GAAP net income per share was\n$0.27, compared to the $0.13 net income per share for the first quarter of\n2025.\n* Adjusted EBITDA: Adjusted EBITDA was $26.6 million, compared to adjusted\nEBITDA of $16.8 million for the first quarter of 2025.\n* Cash flows: Net cash provided by operating activities was $48.8 million for\nthe three months ended March 31, 2026 compared to $45.0 million of net cash\nprovided by operating activities for the same period in 2025.\nA reconciliation of GAAP to non-GAAP financial measures has been provided in\nthe tables following the financial statements in this press release. An\nexplanation of these measures is also included below under the heading\n“Non-GAAP Financial Measures.”\n\nFinancial Outlook:\n\nAs of May 7, 2026, guidance for 2026 is as follows:\n* Second Quarter 2026 Guidance: * Cloud subscriptions revenue is expected to\nbe between $126.0 million and $128.0 million, representing year-over-year\ngrowth of 18% to 20%.\n* Total revenue is expected to be between $191.0 million and $195.0 million,\nrepresenting a year-over-year increase of 12% to 14%.\n* Adjusted EBITDA is expected to be between $5.0 million and $8.0 million.\n* Non-GAAP earnings (loss) per share is expected to be between $(0.02) and\n$0.02, assuming weighted average common shares outstanding of 74.2 million.\n \n* Full Year 2026 Guidance: * Cloud subscriptions revenue is expected to be\nbetween $515.0 million and $521.0 million, representing year-over-year growth\nof 18% to 19%.\n* Total revenue is expected to be between $819.0 million and $831.0 million,\nrepresenting a year-over-year increase of 13% to 14%.\n* Adjusted EBITDA is expected to be between $97.0 million and $105.0 million.\n* Non-GAAP earnings per share is expected to be between $0.94 and $1.05,\nassuming weighted average common shares outstanding of 73.9 million.\nConference Call Details:\n\nAppian will host a conference call today, May 7, 2026, at 8:30 a.m. ET to\ndiscuss Appian's financial results for the first quarter ended March 31, 2026\nand business outlook.\n\nTo access the call, navigate to the following link(()(1)()). Once registered,\nparticipants can dial in using their phone with a dial in and PIN, or they can\nchoose the Call Me option for instant dial to their phone. The live webcast of\nthe conference call can also be accessed on the Investor Relations page of our\nwebsite at https://investors.appian.com.\n\nAbout Appian\n\nAppian provides process automation technology. We automate complex processes\nin large enterprises and governments. Our platform is known for its unique\nreliability and scale. We’ve been automating processes for 25 years and\nunderstand enterprise operations like no one else. For more information, visit\nappian.com. [Nasdaq: APPN]\n\nNon-GAAP Financial Measures\n\nTo supplement its consolidated financial statements, which are prepared and\npresented in accordance with GAAP, Appian provides investors with certain\nnon-GAAP financial performance measures. Appian uses these non-GAAP financial\nperformance measures for financial and operational decision-making and as a\nmeans to evaluate period-to-period comparisons. Appian’s management believes\nthese non-GAAP financial measures provide meaningful supplemental information\nregarding Appian’s performance by excluding certain expenses that may not be\nindicative of our recurring core business operating results. Appian believes\nboth management and investors benefit from referring to these non-GAAP\nfinancial measures in assessing Appian’s performance and when planning,\nforecasting, and analyzing future periods. These non-GAAP financial measures\nalso facilitate management’s internal comparisons to historical performance\nas well as comparisons to competitors’ operating results. Appian believes\nthese non-GAAP financial measures are useful to investors both because (1)\nthey allow for greater transparency with respect to measures used by\nmanagement in its financial and operational decision-making and (2) they are\nused by institutional investors and the analyst community to help them analyze\nthe health of Appian’s business.\n\nThe non-GAAP financial performance measures include the following: non-GAAP\nsubscriptions cost of revenue, non-GAAP professional services cost of revenue,\nnon-GAAP total cost of revenue, non-GAAP total operating expense, non-GAAP\noperating income, non-GAAP income tax expense, non-GAAP net income, and\nnon-GAAP net income per share, basic and diluted. These non-GAAP financial\nperformance measures exclude the effect of stock-based compensation expense,\nunrealized foreign exchange rate gains and losses, certain non-ordinary\nlitigation-related expenses consisting of legal and other professional fees\nassociated with the Pegasystems cases (net of insurance reimbursements), or\nLitigation Expense, amortization of the judgment preservation insurance\npolicy, or JPI Amortization, and lease impairments and lease-related charges\nassociated with actions taken to reduce the footprint of our leased office\nspaces, or Lease Impairment and Lease-Related Charges. While some of these\nitems may be recurring in nature and should not be disregarded in the\nevaluation of our earnings performance, it is useful to exclude such items\nwhen analyzing current results and trends compared to other periods as these\nitems can vary significantly from period to period depending on specific\nunderlying transactions or events that may occur. Therefore, while we may\nincur or recognize these types of expenses in the future, we believe removing\nthese items for purposes of calculating our non-GAAP financial measures\nprovides investors with a more focused presentation of our ongoing operating\nperformance.\n\nAppian also discusses adjusted EBITDA, a non-GAAP financial performance\nmeasure it believes offers a useful view of the overall operation of its\nbusinesses. Appian defines adjusted EBITDA as net loss before (1) other\nincome, net, (2) interest expense, (3) income tax expense, (4) depreciation\nexpense and amortization of intangible assets, (5) stock-based compensation\nexpense, (6) Litigation Expense, (7) JPI Amortization, and (8) Lease\nImpairment and Lease-Related Charges. The most directly comparable GAAP\nfinancial measure to adjusted EBITDA is net loss. Users should consider the\nlimitations of using adjusted EBITDA, including the fact this measure does not\nprovide a complete depiction of our operating performance. Adjusted EBITDA is\nnot intended to purport to be an alternative to net loss as a measure of\noperating performance or to cash flows from operating activities as a measure\nof liquidity.\n\nThe presentation of these non-GAAP financial measures is not intended to be\nconsidered in isolation from, as a substitute for, or superior to the\nfinancial information prepared and presented in accordance with GAAP, and\nAppian’s non-GAAP measures may be different from non-GAAP measures used by\nother companies. For more information on these non-GAAP financial measures,\nsee the reconciliation of these non-GAAP financial measures to their nearest\ncomparable GAAP measures at the end of this press release.\n\nAppian provides guidance ranges for non-GAAP net income (loss) per share and\nadjusted EBITDA; however, we are not able to reconcile these amounts to their\ncomparable GAAP financial measures without unreasonable efforts because\ncertain information necessary to calculate such measures on a GAAP basis is\nunavailable, subject to high variability, dependent on future events outside\nof our control, and cannot be predicted. In addition, Appian believes such\nreconciliations could imply a degree of precision that might be confusing or\nmisleading to investors. The actual effect of the reconciling items that\nAppian may exclude from these non-GAAP expense numbers, when determined, may\nbe significant to the calculation of the comparable GAAP measures.\n\nForward-Looking Statements\n\nThis press release includes forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. All statements contained\nin this press release other than statements of historical facts, including\nstatements regarding Appian’s future financial and business performance for\nthe second quarter and full year 2026, future investment by Appian in its\ngo-to-market initiatives, increased demand for the Appian Platform, market\nopportunity and plans and objectives for future operations, including\nAppian’s ability to drive continued subscriptions revenue and total revenue\ngrowth, are forward-looking statements. The words “anticipate,”\n“believe,” “continue,” “estimate,” “expect,” “intend,”\n“may,” “will,” “plan,” and similar expressions are intended to\nidentify forward-looking statements. Appian has based these forward-looking\nstatements on its current expectations and projections about future events and\nfinancial trends that Appian believes may affect its financial condition,\nresults of operations, business strategy, short-term and long-term business\noperations and objectives, and financial needs. These forward-looking\nstatements are subject to a number of risks and uncertainties, including the\nrisks and uncertainties associated with Appian’s market opportunity and the\nexpansion of its core software markets in general, the opportunity and\ndisruptive impact of AI, the effects of increased competition, as well as\ninnovations by new and existing competitors in its market, Appian’s ability\nto effectively manage or sustain its growth and to maintain profitability,\nAppian’s ability to maintain, or strengthen awareness of, its brand, risks\nand uncertainties associated with the composition and concentration of\nAppian’s customer base and their demand for its platform and satisfaction\nwith the services provided by Appian, Appian’s ability to operate in\ncompliance with applicable laws and regulations, Appian’s strategic\nrelationships with third parties, and additional risks and uncertainties set\nforth in the “Risk Factors” section of Appian’s most recent annual\nreport on Form 10-K, quarterly reports on Form 10-Q, and other filings with\nthe Securities and Exchange Commission. Moreover, Appian operates in a very\ncompetitive and rapidly changing environment. New risks emerge from time to\ntime. It is not possible for Appian’s management to predict all risks, nor\ncan Appian assess the impact of all factors on its business or the extent to\nwhich any factor, or combination of factors, may cause actual results to\ndiffer materially from those contained in any forward-looking statements\nAppian may make. In light of these risks, uncertainties, and assumptions,\nAppian cannot guarantee future results, levels of activity, performance,\nachievements, or events and circumstances reflected in the forward-looking\nstatements will occur. Appian is under no duty to update any of these\nforward-looking statements after the date of this press release to conform\nthese statements to actual results or revised expectations, except as required\nby law.\n\nInvestor Contact\ninvestors@appian.com\n\nMedia Contact\nValerie Miller\nSenior Manager, Media Relations North America\npr@appian.com\n\n APPIAN CORPORATION \n CONSOLIDATED BALANCE SHEETS \n (in thousands, except par value and share data) \n \n As of \n March 31, 2026 December 31, 2025 \n Assets (unaudited) \n Current assets \n Cash and cash equivalents $ 150,025 $ 135,810 \n Short-term investments and marketable securities 55,963 51,415 \n Accounts receivable, net of allowance of $3,107 and $3,362, respectively 173,874 255,063 \n Deferred commissions, current 35,459 35,166 \n Prepaid expenses and other current assets 38,632 41,970 \n Total current assets 453,953 519,424 \n Property and equipment, net of accumulated depreciation of $41,662 and $40,747, respectively 30,279 32,087 \n Goodwill 28,145 28,811 \n Intangible assets, net of accumulated amortization of $7,444 and $7,301, respectively 904 1,246 \n Right-of-use assets for operating leases 26,992 28,075 \n Deferred commissions, net of current portion 64,199 65,199 \n Deferred tax assets 4,874 4,850 \n Other assets 14,017 11,703 \n Total assets $ 623,363 $ 691,395 \n Liabilities and Stockholders’ Deficit \n Current liabilities \n Accounts payable $ 4,136 $ 6,655 \n Accrued expenses 21,661 18,483 \n Accrued compensation and related benefits 32,354 61,781 \n Deferred revenue 320,401 341,281 \n Debt 9,598 9,598 \n Operating lease liabilities 13,201 13,181 \n Other current liabilities 1,312 1,128 \n Total current liabilities 402,663 452,107 \n Long-term debt 228,828 231,228 \n Non-current operating lease liabilities 43,585 45,693 \n Deferred revenue, non-current 6,913 8,962 \n Other non-current liabilities 341 398 \n Total liabilities 682,330 738,388 \n Stockholders’ deficit \n Class A common stock—par value $0.0001; 500,000,000 shares authorized as of March 31, 2026 and December 31, 2025 and 43,474,509 and 43,408,828 shares issued as of March 31, 2026 and December 31, 2025, respectively 4 4 \n Class B common stock—par value $0.0001; 100,000,000 shares authorized as March 31, 2026 and December 31, 2025 and 31,087,485 and 31,088,085 shares issued as of March 31, 2026 and December 31, 2025, respectively 3 3 \n Treasury stock at cost, 1,048,812 and 542,288 shares as of March 31, 2026 and December 31, 2025, respectively (29,152 ) (16,935 ) \n Additional paid-in capital 618,798 617,318 \n Accumulated other comprehensive loss (36,174 ) (36,462 ) \n Accumulated deficit (612,446 ) (610,921 ) \n Total stockholders’ deficit (58,967 ) (46,993 ) \n Total liabilities and stockholders’ deficit $ 623,363 $ 691,395 \n \n\n\n\n APPIAN CORPORATION \n CONSOLIDATED STATEMENTS OF OPERATIONS \n (in thousands, except per share data) \n \n Three Months Ended March 31, \n 2026 2025 \n (unaudited) \n Revenue \n Subscriptions $ 160,311 $ 134,352 \n Professional services 41,869 32,074 \n Total revenue 202,180 166,426 \n Cost of revenue \n Subscriptions 22,904 18,521 \n Professional services 31,507 25,519 \n Total cost of revenue 54,411 44,040 \n Gross profit 147,769 122,386 \n Operating expenses \n Sales and marketing 64,619 56,310 \n Research and development 46,324 41,830 \n General and administrative 33,670 25,080 \n Total operating expenses 144,613 123,220 \n Operating income (loss) 3,156 (834 ) \n Other non-operating expense (income) \n Other income, net (84 ) (5,716 ) \n Interest expense 4,172 5,318 \n Total other non-operating expense (income) 4,088 (398 ) \n Loss before income taxes (932 ) (436 ) \n Income tax expense 593 741 \n Net loss $ (1,525 ) $ (1,177 ) \n Net loss per Class A and Class B share: \n Basic and diluted $ (0.02 ) $ (0.02 ) \n Weighted average common shares outstanding: \n Basic and diluted 73,820 74,094 \n \n\n\n\n APPIAN CORPORATION \n STOCK-BASED COMPENSATION EXPENSE \n (in thousands) \n \n Three months ended March 31, \n 2026 2025 \n (unaudited) \n Cost of revenue \n Subscriptions $ 559 $ 498 \n Professional services 1,638 1,456 \n Operating expenses \n Sales and marketing 2,403 2,246 \n Research and development 3,735 3,014 \n General and administrative 3,554 2,825 \n Total stock-based compensation expense $ 11,889 $ 10,039 \n \n\n\n\n APPIAN CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in thousands) \n \n Three Months Ended March 31, \n 2026 2025 \n Cash flows from operating activities \n Net loss $ (1,525 ) $ (1,177 ) \n Adjustments to reconcile net loss to net cash provided by operating activities: \n Stock-based compensation 11,889 10,039 \n Depreciation expense and amortization of intangible assets 2,273 2,446 \n Bad debt expense (194 ) (125 ) \n Amortization of debt issuance costs 150 150 \n Benefit for deferred income taxes (74 ) (163 ) \n Foreign currency transaction losses (gains), net 1,119 (3,989 ) \n Changes in assets and liabilities \n Accounts receivable 81,353 60,259 \n Prepaid expenses and other assets 1,333 6,107 \n Deferred commissions 707 3,855 \n Accounts payable and accrued expenses 637 4,755 \n Accrued compensation and related benefits (25,569 ) (9,306 ) \n Other current and non-current liabilities (468 ) 507 \n Deferred revenue (21,799 ) (27,554 ) \n Operating lease assets and liabilities, net (1,005 ) (838 ) \n Net cash provided by operating activities 48,827 44,966 \n Cash flows from investing activities \n Proceeds from maturities of investments 39,771 13,611 \n Purchases of investments (44,866 ) (37,037 ) \n Purchases of property and equipment (188 ) (651 ) \n Net cash used by investing activities (5,283 ) (24,077 ) \n Cash flows from financing activities \n Debt repayments (2,500 ) (2,500 ) \n Repurchase of common stock (21,808 ) — \n Payments for employee taxes related to the net share settlement of equity awards (5,117 ) (3,199 ) \n Proceeds from exercise of common stock options 630 190 \n Net cash used by financing activities (28,795 ) (5,509 ) \n Effect of foreign exchange rate changes on cash and cash equivalents (534 ) 1,050 \n Net increase in cash and cash equivalents 14,215 16,430 \n Cash and cash equivalents at beginning of period 135,810 118,552 \n Cash and cash equivalents at end of period $ 150,025 $ 134,982 \n \n Supplemental disclosure of cash flow information: \n Cash paid for interest $ 3,803 $ 5,018 \n Cash paid for income taxes $ 1,426 $ 798 \n Supplemental disclosure of non-cash investing and financing information: \n Accrued capital expenditures $ 37 $ 784 \n\nAPPIAN CORPORATION\nRECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES\n(unaudited, in thousands, except per share data)\n\n GAAP Measure Stock-Based Compensation Litigation Expense JPI Amortization Lease Impairment and Lease-Related Charges Unrealized Foreign Exchange Rate Gains and Losses Non-GAAP Measure \n Three Months Ended March 31, 2026 \n Subscriptions cost of revenue $ 22,904 $ (559 ) $ — $ — $ — $ — $ 22,345 \n Professional services cost of revenue 31,507 (1,638 ) — — — — 29,869 \n Total cost of revenue 54,411 (2,197 ) — — — — 52,214 \n Sales and marketing expense 64,619 (2,403 ) — — — — 62,216 \n Research and development expense 46,324 (3,735 ) — — — — 42,589 \n General and administrative expense 33,670 (3,554 ) (6,948 ) (2,055 ) (302 ) — 20,811 \n Total operating expense 144,613 (9,692 ) (6,948 ) (2,055 ) (302 ) — 125,616 \n Operating income 3,156 11,889 6,948 2,055 302 — 24,350 \n Non-operating income (84 ) — — — — (848 ) (932 ) \n Income tax impact of above items 593 507 — — — 199 1,299 \n Net (loss) income (1,525 ) 11,382 6,948 2,055 302 649 19,811 \n Net (loss) income per share, basic (()(c)()) $ (0.02 ) $ 0.15 $ 0.09 $ 0.03 $ — $ 0.01 $ 0.27 \n Net (loss) income per share, diluted (()(a)(,)(c)()) $ (0.02 ) $ 0.15 $ 0.09 $ 0.03 $ — $ 0.01 $ 0.27 \n \n Three Months Ended March 31, 2025 \n Subscriptions cost of revenue $ 18,521 $ (498 ) $ — $ — $ — $ — $ 18,023 \n Professional services cost of revenue 25,519 (1,456 ) — — — — 24,063 \n Total cost of revenue 44,040 (1,954 ) — — — — 42,086 \n Sales and marketing expense 56,310 (2,246 ) — — — — 54,064 \n Research and development expense 41,830 (3,014 ) — — — — 38,816 \n General and administrative expense 25,080 (2,825 ) (1,712 ) (3,084 ) (312 ) — 17,147 \n Total operating expense 123,220 (8,085 ) (1,712 ) (3,084 ) (312 ) — 110,027 \n Operating (loss) income (834 ) 10,039 1,712 3,084 312 — 14,313 \n Non-operating (income) expense (5,716 ) — — — — 4,016 (1,700 ) \n Income tax impact of above items 741 455 — — — (267 ) 929 \n Net (loss) income (1,177 ) 9,584 1,712 3,084 312 (3,749 ) 9,766 \n Net (loss) income per share, basic (()(c)()) $ (0.02 ) $ 0.13 $ 0.02 $ 0.04 $ — $ (0.05 ) $ 0.13 \n Net (loss) income per share, diluted (()(b,)(c)()) $ (0.02 ) $ 0.13 $ 0.02 $ 0.04 $ — $ (0.05 ) $ 0.13 \n \n (()(a)())Accounts for the impact of 0.6 million shares of dilutive securities. \n (()(b)())Accounts for the impact of 0.4 million shares of dilutive securities. \n (()(c)())Per share amounts do not foot due to rounding. \n \n\n\n\n Three months ended March 31, \n 2026 2025 \n Reconciliation of adjusted EBITDA: \n GAAP net loss $ (1,525 ) $ (1,177 ) \n Other income, net (84 ) (5,716 ) \n Interest expense 4,172 5,318 \n Income tax expense 593 741 \n Depreciation expense and amortization of intangible assets 2,273 2,446 \n Stock-based compensation expense 11,889 10,039 \n Litigation Expense 6,948 1,712 \n JPI Amortization 2,055 3,084 \n Lease Impairment and Lease-Related Charges 302 312 \n Adjusted EBITDA $ 26,623 $ 16,759 \n \n\n(1)\nhttps://register-conf.media-server.com/register/BI87cbbf11a9b741df835a46cf74d1b911\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c436571c-ff2d-4787-aa68-18e0294467eb)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3x1hnX","title":"Appian Announces First Quarter 2026 Financial Results","author":"Globe Newswire","ticker":"APPN","created":"2026-05-07T11:05:00.671Z","tickers":["APPN"],"exchange":"NASDAQ","article_body":"MCLEAN, Va., May 07, 2026 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today\nannounced financial results for the first quarter ended March 31, 2026.\n\nFirst Quarter 2026 Financial Highlights:\n* Revenue: Cloud subscriptions revenue was $124.5 million, up 25% compared to\nthe first quarter of 2025. Total subscriptions revenue, which includes sales\nof our cloud subscriptions, other subscriptions, and the related maintenance\nand support, increased 19% year-over-year to $160.3 million. Professional\nservices revenue was $41.9 million, an increase of 31% compared to the first\nquarter of 2025. Total revenue was $202.2 million, up 21% compared to the\nfirst quarter of 2025. Cloud net annualized recurring revenue (“ARR”)\nexpansion was 115% as of March 31, 2026.\n* Operating income (loss) and non-GAAP operating income: GAAP operating income\nwas $3.2 million, compared to GAAP operating loss of $(0.8) million for the\nfirst quarter of 2025. Non-GAAP operating income was $24.4 million, compared\nto non-GAAP operating income of $14.3 million for the first quarter of 2025.\n* Net loss and non-GAAP net income: GAAP net loss was $(1.5) million, compared\nto $(1.2) million for the first quarter of 2025. GAAP net loss per share was\n$(0.02) for the first quarter of 2026, compared to $(0.02) for the first\nquarter of 2025. Non-GAAP net income was $19.8 million, compared to $9.8\nmillion for the first quarter of 2025. Non-GAAP net income per share was\n$0.27, compared to the $0.13 net income per share for the first quarter of\n2025.\n* Adjusted EBITDA: Adjusted EBITDA was $26.6 million, compared to adjusted\nEBITDA of $16.8 million for the first quarter of 2025.\n* Cash flows: Net cash provided by operating activities was $48.8 million for\nthe three months ended March 31, 2026 compared to $45.0 million of net cash\nprovided by operating activities for the same period in 2025.\nA reconciliation of GAAP to non-GAAP financial measures has been provided in\nthe tables following the financial statements in this press release. An\nexplanation of these measures is also included below under the heading\n“Non-GAAP Financial Measures.”\n\nFinancial Outlook:\n\nAs of May 7, 2026, guidance for 2026 is as follows:\n* Second Quarter 2026 Guidance: * Cloud subscriptions revenue is expected to\nbe between $126.0 million and $128.0 million, representing year-over-year\ngrowth of 18% to 20%.\n* Total revenue is expected to be between $191.0 million and $195.0 million,\nrepresenting a year-over-year increase of 12% to 14%.\n* Adjusted EBITDA is expected to be between $5.0 million and $8.0 million.\n* Non-GAAP earnings (loss) per share is expected to be between $(0.02) and\n$0.02, assuming weighted average common shares outstanding of 74.2 million.\n \n* Full Year 2026 Guidance: * Cloud subscriptions revenue is expected to be\nbetween $515.0 million and $521.0 million, representing year-over-year growth\nof 18% to 19%.\n* Total revenue is expected to be between $819.0 million and $831.0 million,\nrepresenting a year-over-year increase of 13% to 14%.\n* Adjusted EBITDA is expected to be between $97.0 million and $105.0 million.\n* Non-GAAP earnings per share is expected to be between $0.94 and $1.05,\nassuming weighted average common shares outstanding of 73.9 million.\nConference Call Details:\n\nAppian will host a conference call today, May 7, 2026, at 8:30 a.m. ET to\ndiscuss Appian's financial results for the first quarter ended March 31, 2026\nand business outlook.\n\nTo access the call, navigate to the following link(()(1)()). Once registered,\nparticipants can dial in using their phone with a dial in and PIN, or they can\nchoose the Call Me option for instant dial to their phone. The live webcast of\nthe conference call can also be accessed on the Investor Relations page of our\nwebsite at https://investors.appian.com.\n\nAbout Appian\n\nAppian provides process automation technology. We automate complex processes\nin large enterprises and governments. Our platform is known for its unique\nreliability and scale. We’ve been automating processes for 25 years and\nunderstand enterprise operations like no one else. For more information, visit\nappian.com. [Nasdaq: APPN]\n\nNon-GAAP Financial Measures\n\nTo supplement its consolidated financial statements, which are prepared and\npresented in accordance with GAAP, Appian provides investors with certain\nnon-GAAP financial performance measures. Appian uses these non-GAAP financial\nperformance measures for financial and operational decision-making and as a\nmeans to evaluate period-to-period comparisons. Appian’s management believes\nthese non-GAAP financial measures provide meaningful supplemental information\nregarding Appian’s performance by excluding certain expenses that may not be\nindicative of our recurring core business operating results. Appian believes\nboth management and investors benefit from referring to these non-GAAP\nfinancial measures in assessing Appian’s performance and when planning,\nforecasting, and analyzing future periods. These non-GAAP financial measures\nalso facilitate management’s internal comparisons to historical performance\nas well as comparisons to competitors’ operating results. Appian believes\nthese non-GAAP financial measures are useful to investors both because (1)\nthey allow for greater transparency with respect to measures used by\nmanagement in its financial and operational decision-making and (2) they are\nused by institutional investors and the analyst community to help them analyze\nthe health of Appian’s business.\n\nThe non-GAAP financial performance measures include the following: non-GAAP\nsubscriptions cost of revenue, non-GAAP professional services cost of revenue,\nnon-GAAP total cost of revenue, non-GAAP total operating expense, non-GAAP\noperating income, non-GAAP income tax expense, non-GAAP net income, and\nnon-GAAP net income per share, basic and diluted. These non-GAAP financial\nperformance measures exclude the effect of stock-based compensation expense,\nunrealized foreign exchange rate gains and losses, certain non-ordinary\nlitigation-related expenses consisting of legal and other professional fees\nassociated with the Pegasystems cases (net of insurance reimbursements), or\nLitigation Expense, amortization of the judgment preservation insurance\npolicy, or JPI Amortization, and lease impairments and lease-related charges\nassociated with actions taken to reduce the footprint of our leased office\nspaces, or Lease Impairment and Lease-Related Charges. While some of these\nitems may be recurring in nature and should not be disregarded in the\nevaluation of our earnings performance, it is useful to exclude such items\nwhen analyzing current results and trends compared to other periods as these\nitems can vary significantly from period to period depending on specific\nunderlying transactions or events that may occur. Therefore, while we may\nincur or recognize these types of expenses in the future, we believe removing\nthese items for purposes of calculating our non-GAAP financial measures\nprovides investors with a more focused presentation of our ongoing operating\nperformance.\n\nAppian also discusses adjusted EBITDA, a non-GAAP financial performance\nmeasure it believes offers a useful view of the overall operation of its\nbusinesses. Appian defines adjusted EBITDA as net loss before (1) other\nincome, net, (2) interest expense, (3) income tax expense, (4) depreciation\nexpense and amortization of intangible assets, (5) stock-based compensation\nexpense, (6) Litigation Expense, (7) JPI Amortization, and (8) Lease\nImpairment and Lease-Related Charges. The most directly comparable GAAP\nfinancial measure to adjusted EBITDA is net loss. Users should consider the\nlimitations of using adjusted EBITDA, including the fact this measure does not\nprovide a complete depiction of our operating performance. Adjusted EBITDA is\nnot intended to purport to be an alternative to net loss as a measure of\noperating performance or to cash flows from operating activities as a measure\nof liquidity.\n\nThe presentation of these non-GAAP financial measures is not intended to be\nconsidered in isolation from, as a substitute for, or superior to the\nfinancial information prepared and presented in accordance with GAAP, and\nAppian’s non-GAAP measures may be different from non-GAAP measures used by\nother companies. For more information on these non-GAAP financial measures,\nsee the reconciliation of these non-GAAP financial measures to their nearest\ncomparable GAAP measures at the end of this press release.\n\nAppian provides guidance ranges for non-GAAP net income (loss) per share and\nadjusted EBITDA; however, we are not able to reconcile these amounts to their\ncomparable GAAP financial measures without unreasonable efforts because\ncertain information necessary to calculate such measures on a GAAP basis is\nunavailable, subject to high variability, dependent on future events outside\nof our control, and cannot be predicted. In addition, Appian believes such\nreconciliations could imply a degree of precision that might be confusing or\nmisleading to investors. The actual effect of the reconciling items that\nAppian may exclude from these non-GAAP expense numbers, when determined, may\nbe significant to the calculation of the comparable GAAP measures.\n\nForward-Looking Statements\n\nThis press release includes forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. All statements contained\nin this press release other than statements of historical facts, including\nstatements regarding Appian’s future financial and business performance for\nthe second quarter and full year 2026, future investment by Appian in its\ngo-to-market initiatives, increased demand for the Appian Platform, market\nopportunity and plans and objectives for future operations, including\nAppian’s ability to drive continued subscriptions revenue and total revenue\ngrowth, are forward-looking statements. The words “anticipate,”\n“believe,” “continue,” “estimate,” “expect,” “intend,”\n“may,” “will,” “plan,” and similar expressions are intended to\nidentify forward-looking statements. Appian has based these forward-looking\nstatements on its current expectations and projections about future events and\nfinancial trends that Appian believes may affect its financial condition,\nresults of operations, business strategy, short-term and long-term business\noperations and objectives, and financial needs. These forward-looking\nstatements are subject to a number of risks and uncertainties, including the\nrisks and uncertainties associated with Appian’s market opportunity and the\nexpansion of its core software markets in general, the opportunity and\ndisruptive impact of AI, the effects of increased competition, as well as\ninnovations by new and existing competitors in its market, Appian’s ability\nto effectively manage or sustain its growth and to maintain profitability,\nAppian’s ability to maintain, or strengthen awareness of, its brand, risks\nand uncertainties associated with the composition and concentration of\nAppian’s customer base and their demand for its platform and satisfaction\nwith the services provided by Appian, Appian’s ability to operate in\ncompliance with applicable laws and regulations, Appian’s strategic\nrelationships with third parties, and additional risks and uncertainties set\nforth in the “Risk Factors” section of Appian’s most recent annual\nreport on Form 10-K, quarterly reports on Form 10-Q, and other filings with\nthe Securities and Exchange Commission. Moreover, Appian operates in a very\ncompetitive and rapidly changing environment. New risks emerge from time to\ntime. It is not possible for Appian’s management to predict all risks, nor\ncan Appian assess the impact of all factors on its business or the extent to\nwhich any factor, or combination of factors, may cause actual results to\ndiffer materially from those contained in any forward-looking statements\nAppian may make. In light of these risks, uncertainties, and assumptions,\nAppian cannot guarantee future results, levels of activity, performance,\nachievements, or events and circumstances reflected in the forward-looking\nstatements will occur. Appian is under no duty to update any of these\nforward-looking statements after the date of this press release to conform\nthese statements to actual results or revised expectations, except as required\nby law.\n\nInvestor Contact\ninvestors@appian.com\n\nMedia Contact\nValerie Miller\nSenior Manager, Media Relations North America\npr@appian.com\n\n APPIAN CORPORATION \n CONSOLIDATED BALANCE SHEETS \n (in thousands, except par value and share data) \n \n As of \n March 31, 2026 December 31, 2025 \n Assets (unaudited) \n Current assets \n Cash and cash equivalents $ 150,025 $ 135,810 \n Short-term investments and marketable securities 55,963 51,415 \n Accounts receivable, net of allowance of $3,107 and $3,362, respectively 173,874 255,063 \n Deferred commissions, current 35,459 35,166 \n Prepaid expenses and other current assets 38,632 41,970 \n Total current assets 453,953 519,424 \n Property and equipment, net of accumulated depreciation of $41,662 and $40,747, respectively 30,279 32,087 \n Goodwill 28,145 28,811 \n Intangible assets, net of accumulated amortization of $7,444 and $7,301, respectively 904 1,246 \n Right-of-use assets for operating leases 26,992 28,075 \n Deferred commissions, net of current portion 64,199 65,199 \n Deferred tax assets 4,874 4,850 \n Other assets 14,017 11,703 \n Total assets $ 623,363 $ 691,395 \n Liabilities and Stockholders’ Deficit \n Current liabilities \n Accounts payable $ 4,136 $ 6,655 \n Accrued expenses 21,661 18,483 \n Accrued compensation and related benefits 32,354 61,781 \n Deferred revenue 320,401 341,281 \n Debt 9,598 9,598 \n Operating lease liabilities 13,201 13,181 \n Other current liabilities 1,312 1,128 \n Total current liabilities 402,663 452,107 \n Long-term debt 228,828 231,228 \n Non-current operating lease liabilities 43,585 45,693 \n Deferred revenue, non-current 6,913 8,962 \n Other non-current liabilities 341 398 \n Total liabilities 682,330 738,388 \n Stockholders’ deficit \n Class A common stock—par value $0.0001; 500,000,000 shares authorized as of March 31, 2026 and December 31, 2025 and 43,474,509 and 43,408,828 shares issued as of March 31, 2026 and December 31, 2025, respectively 4 4 \n Class B common stock—par value $0.0001; 100,000,000 shares authorized as March 31, 2026 and December 31, 2025 and 31,087,485 and 31,088,085 shares issued as of March 31, 2026 and December 31, 2025, respectively 3 3 \n Treasury stock at cost, 1,048,812 and 542,288 shares as of March 31, 2026 and December 31, 2025, respectively (29,152 ) (16,935 ) \n Additional paid-in capital 618,798 617,318 \n Accumulated other comprehensive loss (36,174 ) (36,462 ) \n Accumulated deficit (612,446 ) (610,921 ) \n Total stockholders’ deficit (58,967 ) (46,993 ) \n Total liabilities and stockholders’ deficit $ 623,363 $ 691,395 \n \n\n\n\n APPIAN CORPORATION \n CONSOLIDATED STATEMENTS OF OPERATIONS \n (in thousands, except per share data) \n \n Three Months Ended March 31, \n 2026 2025 \n (unaudited) \n Revenue \n Subscriptions $ 160,311 $ 134,352 \n Professional services 41,869 32,074 \n Total revenue 202,180 166,426 \n Cost of revenue \n Subscriptions 22,904 18,521 \n Professional services 31,507 25,519 \n Total cost of revenue 54,411 44,040 \n Gross profit 147,769 122,386 \n Operating expenses \n Sales and marketing 64,619 56,310 \n Research and development 46,324 41,830 \n General and administrative 33,670 25,080 \n Total operating expenses 144,613 123,220 \n Operating income (loss) 3,156 (834 ) \n Other non-operating expense (income) \n Other income, net (84 ) (5,716 ) \n Interest expense 4,172 5,318 \n Total other non-operating expense (income) 4,088 (398 ) \n Loss before income taxes (932 ) (436 ) \n Income tax expense 593 741 \n Net loss $ (1,525 ) $ (1,177 ) \n Net loss per Class A and Class B share: \n Basic and diluted $ (0.02 ) $ (0.02 ) \n Weighted average common shares outstanding: \n Basic and diluted 73,820 74,094 \n \n\n\n\n APPIAN CORPORATION \n STOCK-BASED COMPENSATION EXPENSE \n (in thousands) \n \n Three months ended March 31, \n 2026 2025 \n (unaudited) \n Cost of revenue \n Subscriptions $ 559 $ 498 \n Professional services 1,638 1,456 \n Operating expenses \n Sales and marketing 2,403 2,246 \n Research and development 3,735 3,014 \n General and administrative 3,554 2,825 \n Total stock-based compensation expense $ 11,889 $ 10,039 \n \n\n\n\n APPIAN CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in thousands) \n \n Three Months Ended March 31, \n 2026 2025 \n Cash flows from operating activities \n Net loss $ (1,525 ) $ (1,177 ) \n Adjustments to reconcile net loss to net cash provided by operating activities: \n Stock-based compensation 11,889 10,039 \n Depreciation expense and amortization of intangible assets 2,273 2,446 \n Bad debt expense (194 ) (125 ) \n Amortization of debt issuance costs 150 150 \n Benefit for deferred income taxes (74 ) (163 ) \n Foreign currency transaction losses (gains), net 1,119 (3,989 ) \n Changes in assets and liabilities \n Accounts receivable 81,353 60,259 \n Prepaid expenses and other assets 1,333 6,107 \n Deferred commissions 707 3,855 \n Accounts payable and accrued expenses 637 4,755 \n Accrued compensation and related benefits (25,569 ) (9,306 ) \n Other current and non-current liabilities (468 ) 507 \n Deferred revenue (21,799 ) (27,554 ) \n Operating lease assets and liabilities, net (1,005 ) (838 ) \n Net cash provided by operating activities 48,827 44,966 \n Cash flows from investing activities \n Proceeds from maturities of investments 39,771 13,611 \n Purchases of investments (44,866 ) (37,037 ) \n Purchases of property and equipment (188 ) (651 ) \n Net cash used by investing activities (5,283 ) (24,077 ) \n Cash flows from financing activities \n Debt repayments (2,500 ) (2,500 ) \n Repurchase of common stock (21,808 ) — \n Payments for employee taxes related to the net share settlement of equity awards (5,117 ) (3,199 ) \n Proceeds from exercise of common stock options 630 190 \n Net cash used by financing activities (28,795 ) (5,509 ) \n Effect of foreign exchange rate changes on cash and cash equivalents (534 ) 1,050 \n Net increase in cash and cash equivalents 14,215 16,430 \n Cash and cash equivalents at beginning of period 135,810 118,552 \n Cash and cash equivalents at end of period $ 150,025 $ 134,982 \n \n Supplemental disclosure of cash flow information: \n Cash paid for interest $ 3,803 $ 5,018 \n Cash paid for income taxes $ 1,426 $ 798 \n Supplemental disclosure of non-cash investing and financing information: \n Accrued capital expenditures $ 37 $ 784 \n\nAPPIAN CORPORATION\nRECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES\n(unaudited, in thousands, except per share data)\n\n GAAP Measure Stock-Based Compensation Litigation Expense JPI Amortization Lease Impairment and Lease-Related Charges Unrealized Foreign Exchange Rate Gains and Losses Non-GAAP Measure \n Three Months Ended March 31, 2026 \n Subscriptions cost of revenue $ 22,904 $ (559 ) $ — $ — $ — $ — $ 22,345 \n Professional services cost of revenue 31,507 (1,638 ) — — — — 29,869 \n Total cost of revenue 54,411 (2,197 ) — — — — 52,214 \n Sales and marketing expense 64,619 (2,403 ) — — — — 62,216 \n Research and development expense 46,324 (3,735 ) — — — — 42,589 \n General and administrative expense 33,670 (3,554 ) (6,948 ) (2,055 ) (302 ) — 20,811 \n Total operating expense 144,613 (9,692 ) (6,948 ) (2,055 ) (302 ) — 125,616 \n Operating income 3,156 11,889 6,948 2,055 302 — 24,350 \n Non-operating income (84 ) — — — — (848 ) (932 ) \n Income tax impact of above items 593 507 — — — 199 1,299 \n Net (loss) income (1,525 ) 11,382 6,948 2,055 302 649 19,811 \n Net (loss) income per share, basic (()(c)()) $ (0.02 ) $ 0.15 $ 0.09 $ 0.03 $ — $ 0.01 $ 0.27 \n Net (loss) income per share, diluted (()(a)(,)(c)()) $ (0.02 ) $ 0.15 $ 0.09 $ 0.03 $ — $ 0.01 $ 0.27 \n \n Three Months Ended March 31, 2025 \n Subscriptions cost of revenue $ 18,521 $ (498 ) $ — $ — $ — $ — $ 18,023 \n Professional services cost of revenue 25,519 (1,456 ) — — — — 24,063 \n Total cost of revenue 44,040 (1,954 ) — — — — 42,086 \n Sales and marketing expense 56,310 (2,246 ) — — — — 54,064 \n Research and development expense 41,830 (3,014 ) — — — — 38,816 \n General and administrative expense 25,080 (2,825 ) (1,712 ) (3,084 ) (312 ) — 17,147 \n Total operating expense 123,220 (8,085 ) (1,712 ) (3,084 ) (312 ) — 110,027 \n Operating (loss) income (834 ) 10,039 1,712 3,084 312 — 14,313 \n Non-operating (income) expense (5,716 ) — — — — 4,016 (1,700 ) \n Income tax impact of above items 741 455 — — — (267 ) 929 \n Net (loss) income (1,177 ) 9,584 1,712 3,084 312 (3,749 ) 9,766 \n Net (loss) income per share, basic (()(c)()) $ (0.02 ) $ 0.13 $ 0.02 $ 0.04 $ — $ (0.05 ) $ 0.13 \n Net (loss) income per share, diluted (()(b,)(c)()) $ (0.02 ) $ 0.13 $ 0.02 $ 0.04 $ — $ (0.05 ) $ 0.13 \n \n (()(a)())Accounts for the impact of 0.6 million shares of dilutive securities. \n (()(b)())Accounts for the impact of 0.4 million shares of dilutive securities. \n (()(c)())Per share amounts do not foot due to rounding. \n \n\n\n\n Three months ended March 31, \n 2026 2025 \n Reconciliation of adjusted EBITDA: \n GAAP net loss $ (1,525 ) $ (1,177 ) \n Other income, net (84 ) (5,716 ) \n Interest expense 4,172 5,318 \n Income tax expense 593 741 \n Depreciation expense and amortization of intangible assets 2,273 2,446 \n Stock-based compensation expense 11,889 10,039 \n Litigation Expense 6,948 1,712 \n JPI Amortization 2,055 3,084 \n Lease Impairment and Lease-Related Charges 302 312 \n Adjusted EBITDA $ 26,623 $ 16,759 \n \n\n(1)\nhttps://register-conf.media-server.com/register/BI87cbbf11a9b741df835a46cf74d1b911\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/c436571c-ff2d-4787-aa68-18e0294467eb)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-07T11:05:00.722140663Z","server_sent_at_ms":1778151900722},"received_at":"2026-05-07T11:05:00.807Z","source_url":null},"analysis":{"id":"19792","press_release_id":"25274","analysis_json":{"industry":{"label":"Software & Services","sector":"Information Technology"},"redFlags":[],"eventType":"earnings","narrative":"Appian reported Q1 total revenue of $202.2 million, up 21% year-over-year, driven by a 25% increase in cloud subscriptions revenue to $124.5 million.\n\nGAAP operating income flipped to $3.2 million from a loss of $0.8 million in the prior year, while non-GAAP net income per share doubled to $0.27.\n\nFor the full year 2026, the company expects total revenue of $819 million to $831 million, representing 13% to 14% growth, with non-GAAP EPS projected between $0.94 and $1.05.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Appian swings to GAAP operating profitability with 21% revenue growth; full-year 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