11:04 AM EDT, 08/01/2024 (MT Newswires) -- Appian (APPN) shares retreated nearly 12% in recent Thursday trading after the company provided Q3 and full-year 2024 revenue guidance that trailed analysts' estimates.

The company reported earlier a Q2 non-GAAP loss of $0.26 per diluted share, narrower than a loss of $0.39 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.31.

Revenue for the quarter ended June 30 was $146.5 million, up from $127.7 million a year earlier.

Analysts surveyed by Capital IQ expected $142.9 million.

The company said it expects a Q3 non-GAAP loss of $0.06 to $0.10 per share on revenue of $149 million to $153 million. Analysts surveyed by Capital IQ expect a loss of $0.18 on revenue of $155.4 million.

The company said it now expects a 2024 non-GAAP loss of $0.52 to $0.61 per share, compared with its previous guidance of a non-GAAP loss of $0.79 to $0.85 per share. Analysts polled by Capital IQ expect a loss of $0.80.

The company now expects 2024 revenue of $610 million to $615 million, compared with its prior outlook of $615 million to $617 million. Analysts surveyed by Capital IQ expect $615.9 million.

Price: 32.56, Change: -4.38, Percent Change: -11.86