$APPN

APPIAN CORP

CIK:0001441683|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 203,256	$ 170,640	$ 405,436	$ 337,066
Cost of revenue
Total cost of revenue	58,513	48,954	112,924	92,994
Gross profit	144,743	121,686	292,512	244,072
Operating expenses
Sales and marketing	70,113	62,157	134,732	118,467
Research and development	47,305	42,655	93,629	84,485
General and administrative	32,765	27,858	66,435	52,938
Total operating expenses	150,183	132,670	294,796	255,890
Operating loss	(5,440)	(10,984)	(2,284)	(11,818)
Other non-operating expense (income)
Other expense (income), net	827	(17,564)	743	(23,280)
Interest expense	3,780	5,319	7,952	10,637
Total other non-operating expense (income)	4,607	(12,245)	8,695	(12,643)
(Loss) income before income taxes	(10,047)	1,261	(10,979)	825
Income tax expense	1,770	1,573	2,363	2,314
Net loss	$ (11,817)	$ (312)	$ (13,342)	$ (1,489)
Net loss per Class A and Class B share:
Basic (in usd per share)	$ (0.16)	$ 0.00	$ (0.18)	$ (0.02)
Diluted (in usd per share)	$ (0.16)	$ 0.00	$ (0.18)	$ (0.02)
Weighted average common shares outstanding:
Basic (in shares)	72,896	74,202	73,348	74,148
Diluted (in shares)	72,896	74,202	73,348	74,148
Subscriptions
Revenue
Total revenue	$ 157,682	$ 132,657	$ 317,993	$ 267,009
Cost of revenue
Total cost of revenue	25,409	20,707	48,313	39,228
Professional services
Revenue
Total revenue	45,574	37,983	87,443	70,057
Cost of revenue
Total cost of revenue	$ 33,104	$ 28,247	$ 64,611	$ 53,766

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (13,342)	$ (1,489)
Adjustments to reconcile net loss to net cash provided by operating activities
Stock-based compensation	22,449	20,732
Depreciation expense and amortization of intangible assets	4,780	4,970
Bad debt expense	634	550
Amortization of debt issuance costs	300	300
Benefit for deferred income taxes	(68)	(689)
Foreign currency transaction losses (gains), net	3,372	(20,659)
Changes in assets and liabilities
Accounts receivable	82,946	49,720
Prepaid expenses and other assets	6,991	10,174
Deferred commissions	(5,037)	3,228
Accounts payable and accrued expenses	4,298	7,559
Accrued compensation and related benefits	(17,348)	(3,811)
Other current and non-current liabilities	(538)	(277)
Deferred revenue	(26,590)	(25,611)
Operating lease assets and liabilities, net	(1,938)	(1,671)
Net cash provided by operating activities	60,909	43,026
Cash flows from investing activities
Proceeds from maturities of investments	49,079	27,985
Purchases of investments	(44,866)	(59,281)
Purchases of property and equipment	(2,491)	(1,797)
Net cash provided by (used by) investing activities	1,722	(33,093)
Cash flows from financing activities
Debt repayments	(5,000)	(5,000)
Repurchases of common stock	(65,736)	(10,000)
Payments for employee taxes related to the net share settlement of equity awards	(6,395)	(4,469)
Proceeds from exercise of common stock options	876	504
Net cash used by financing activities	(76,255)	(18,965)
Effect of foreign exchange rate changes on cash and cash equivalents	(1,075)	2,687
Net decrease in cash and cash equivalents	(14,699)	(6,345)
Cash and cash equivalents at beginning of period	135,810	118,552
Cash and cash equivalents at end of period	121,111	112,207
Supplemental disclosure of cash flow information
Cash paid for interest	7,338	10,023
Cash paid for income taxes	2,542	1,997
Supplemental disclosure of non-cash investing and financing activities
Accrued capital expenditures	408	54
Operating lease liabilities arising from obtaining right-of-use assets	$ 5,370	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 121,111	$ 135,810
Short-term investments and marketable securities	46,755	51,415
Accounts receivable, net of allowance of $3,416 and $3,362, respectively	171,162	255,063
Deferred commissions, current	38,026	35,166
Prepaid expenses and other current assets	32,952	41,970
Total current assets	410,006	519,424
Property and equipment, net of accumulated depreciation of $42,933 and $40,747, respectively	30,667	32,087
Goodwill	27,973	28,811
Intangible assets, net of accumulated amortization of $7,710 and $7,301, respectively	588	1,246
Right-of-use assets for operating leases	30,437	28,075
Deferred commissions, net of current portion	67,376	65,199
Deferred tax assets	4,857	4,850
Other assets	13,809	11,703
Total assets	585,713	691,395
Current liabilities
Accounts payable	8,077	6,655
Accrued expenses	21,662	18,483
Accrued compensation and related benefits	43,035	61,781
Deferred revenue	314,263	341,281
Debt	9,598	9,598
Operating lease liabilities	14,171	13,181
Other current liabilities	1,012	1,128
Total current liabilities	411,818	452,107
Long-term debt	226,429	231,228
Non-current operating lease liabilities	45,128	45,693
Deferred revenue, non-current	7,208	8,962
Other non-current liabilities	311	398
Total liabilities	690,894	738,388
Stockholders’ deficit
Treasury stock at cost, 2,795,084 and 542,288 shares as of June 30, 2026 and December 31, 2025, respectively	(70,391)	(16,935)
Additional paid-in capital	623,090	617,318
Accumulated other comprehensive loss	(33,624)	(36,462)
Accumulated deficit	(624,263)	(610,921)
Total stockholders’ deficit	(105,181)	(46,993)
Total liabilities and stockholders’ deficit	585,713	691,395
Class A Common Stock
Stockholders’ deficit
Common stock	4	4
Class B Common Stock
Stockholders’ deficit
Common stock	$ 3	$ 3