Overview

* Appian Q2 total revenue grows 17% yr/yr, beating analyst expectations

* Cloud subscriptions revenue rises 21% yr/yr to $106.9 mln

* GAAP net loss narrows to $0.3 mln from $43.6 mln last year

Outlook

* Appian expects Q3 cloud subscriptions revenue between $109 mln and $111 mln

* Company sees Q3 total revenue between $172 mln and $176 mln

* Appian forecasts full-year cloud subscriptions revenue between $429 mln and $433 mln

* Company anticipates full-year total revenue between $695 mln and $703 mln

Result Drivers

* APPIAN AI - CEO attributes strong financial results to Appian AI driving higher prices and a larger sales pipeline

* CLOUD SUBSCRIPTIONS - Cloud subscriptions revenue increased 21% yr/yr to $106.9 mln, with a retention rate of 111%

* PROFESSIONAL SERVICES - Professional services revenue grew 13% yr/yr to $38.0 mln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $170.64 $160.10

Revenue mln mln (6

Analysts

)

Q2 Net -$312,00

Income 0

Q2 Gross $126.72

Profit mln

Q2 $137.70

Operatin mln

g

Expenses

Q2 -$10.98

Operatin mln

g Profit

Q2 $1.26

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy."

* Wall Street's median 12-month price target for Appian Corp ( APPN ) is $35.00, about 23% above its August 6 closing price of $26.95

* The stock recently traded at 74 times the next 12-month earnings vs. a P/E of 110 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)