Appian Corporation (APPN) Misses Q3 EPS by 20c; Offers FY22 Guidance
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Appian Announces Third Quarter 2022 Financial Results
November 3, 2022 4:02 PM EDTThird quarter cloud subscription revenue increased 30% year-over-year to $60.6 million
MCLEAN, Va., Nov. 03, 2022 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the third quarter ended September 30, 2022.
In Q3, total revenue exceeded guidance. On a constant currency basis, both cloud subscription revenue and total revenue grew more than 30% year-over-year. Adjusted EBITDA loss was higher due to pull forward hiring and a sharp drop in attrition. We have a plan to reduce losses to 10% of revenue by the second half of 2023, said Matt Calkins, CEO & Founder.
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