Appian Corp delivered a mixed result in the last quarter with revenues exceeding Wall Street expectations largely driven by the growth in cloud subscription revenue. However, it failed to meet earnings expectations of analysts. Appian recently closed a $150 million debt facility for a five-year term. The company opened its new development center in Chennai, India, much ahead of schedule with a new office location and a full complement of employees. In every category, the revenue growth is healthy and setting records in the quarter. While a large part of the tech industry has been retrenching, Appian went ahead and hired 221 employees in the last quarter. Also, a U.S. national security agency bought a 7-figure software deal from Appian and became a new customer. This agency intends to use the company’s Government acquisition management solutions suite for gathering automated procurement processes and acquisition requirements. In the Asia-Pacific region, a large bank, an old customer of Appian, upgraded its licenses with Appian’s newest features like RPA and Appian Process Mining. The company’s ecosystem has been growing, and the customer base is also loyal. We provide the stock of Appian with a ‘Hold’ rating and a revision in the target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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