Appian Corporation: Growing AI Adoption Is A Major Growth Catalyst?

Appian’s Q4 earnings and full 2023 financial results reflect a steady growth trajectory. For Q4, cloud subscription revenue was up by 26% to $81.3 million. Subscriptions revenue was up by 24% to $115.8 million. Total revenue saw an increase by 16% to $145.3 million. The cloud subscriptions revenue retention rate was 119%, and the adjusted EBITDA was a gain of $1.0 million. For the full financial year, Appian’s cloud subscription revenue grew by 29% to $304.5 million. Subscriptions revenue was up by 21% to $412.3 million. Total revenue increased by 17% to $545.4 million. However, adjusted EBITDA recorded a loss of $44.8 million.