Insights

Why Appian Stock Topped the Market Today

What happened
Appian (NASDAQ: APPN) was an outlier stock on Friday, closing slightly (0.7%) higher, while the S&P 500 index ended the day marginally lower. The catalyst was the company’s inaugural set of quarterly results for this year, which revealed beats on both the top and bottom lines.
So what
Appian’s first quarter, which was reported after market hours on Thursday, saw the cloud computing services provider book just over $114 million in revenue. That figure was nearly 30% higher than the corresponding period of 2021, powered by a 31% rise in the company’s crucial subscriptions revenue (to nearly $84 million).
Image source: Getty Images.

This was mitigated by a deepening non-GAAP (adjusted) net loss, which amounted to over $23 million ($0.06 per share) versus the $13.6 million deficit of last year’s first quarter.
Still, both results handily topped analyst estimates. On average, prognosticators following Appian’s stock were modeling slightly over $107 million for revenue and a steeper adjusted net loss of $0.13 per share.
Now what
Appian proffered guidance for both its current (second) quarter and the entirety of 2022. The company believes its current growth trajectory will decline a bit, with total revenue rising 24% to 26% to hit $102.8 million to $104.8 million in the quarter. Per-share adjusted net loss, however, is anticipated to be deeper than in the first quarter; Appian is estimating it will come in at $0.33 to $0.37 per share.
As for the full year, the top line is expected to hit $453 million to $457 million, for annual growth of at least 23%. Per-share adjusted net loss should be $0.77 to $0.82. On average, analysts are anticipating just over $445 million in total revenue and a net loss of $0.81 per share for the year.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Appian. The Motley Fool has a disclosure policy. –

What happened

Appian (NASDAQ: APPN) was an outlier stock on Friday, closing slightly (0.7%) higher, while the S&P 500 index ended the day marginally lower. The catalyst was the company’s inaugural set of quarterly results for this year, which revealed beats on both the top and bottom lines.

So what

Appian’s first quarter, which was reported after market hours on Thursday, saw the cloud computing services provider book just over $114 million in revenue. That figure was nearly 30% higher than the corresponding period of 2021, powered by a 31% rise in the company’s crucial subscriptions revenue (to nearly $84 million).

Image source: Getty Images.

This was mitigated by a deepening non-GAAP (adjusted) net loss, which amounted to over $23 million ($0.06 per share) versus the $13.6 million deficit of last year’s first quarter.

Still, both results handily topped analyst estimates. On average, prognosticators following Appian’s stock were modeling slightly over $107 million for revenue and a steeper adjusted net loss of $0.13 per share.

Now what

Appian proffered guidance for both its current (second) quarter and the entirety of 2022. The company believes its current growth trajectory will decline a bit, with total revenue rising 24% to 26% to hit $102.8 million to $104.8 million in the quarter. Per-share adjusted net loss, however, is anticipated to be deeper than in the first quarter; Appian is estimating it will come in at $0.33 to $0.37 per share.

As for the full year, the top line is expected to hit $453 million to $457 million, for annual growth of at least 23%. Per-share adjusted net loss should be $0.77 to $0.82. On average, analysts are anticipating just over $445 million in total revenue and a net loss of $0.81 per share for the year.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Appian. The Motley Fool has a disclosure policy.

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