Business
Appian Announces First Quarter 2020 Financial Results
Subscriptions revenue increased 46% year-over-year to $50.4 million Total revenue increased 31% year-over-year to $78.9 million MCLEAN, Va., May 07, 2020
About this update from Appian Corporation
[{"type":"text","content":"Subscriptions revenue increased 46% year-over-year to $50.4 million\n Total revenue increased 31% year-over-year to $78.9 million MCLEAN, Va., May 07, 2020 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the first quarter ended March 31, 2020. “Appian is a platform for change. We've helped businesses around the world adapt to COVID-19. When the crisis is over, we expect strengthened demand for digital transformation, low-code, and automation,\" said Matt Calkins, CEO & Founder. First Quarter 2020 Financial Highlights: Revenue: Cloud subscription revenue was $28.4 million for the first quarter of 2020, up 33% compared to the first quarter of 2019. Total subscriptions revenue, which includes sales of our SaaS subscriptions, on-premises term license subscriptions and maintenance and support, increased 46% year-over-year to $50.4 million for the first quarter of 2020. Professional services revenue was $28.4 million for the first quarter of 2020, compared to $25.7 million for the first quarter of 2019. Total revenue was $78.9 million for the first quarter of 2020, up 31% compared to the first quarter of 2019. Cloud subscription revenue retention rate was 115% as of March 31, 2020. Operating loss and non-GAAP operating loss: GAAP operating loss was $(8.6) million for the first quarter of 2020, compared to $(15.3) million for the first quarter of 2019. Non-GAAP operating loss was $(5.1) million for the first quarter of 2020, compared to $(8.1) million for the first quarter of 2019. Net loss and non-GAAP net loss: GAAP net loss was $(11.7) million for the first quarter of 2020, compared to $(15.2) million for the first quarter of 2019. GAAP net loss per share was $(0.17) for the first quarter of 2020, based on 67.5 million weighted-average shares outstanding, compared to $(0.24) for the first quarter of 2019, based on 64.3 million weighted-average shares outstanding. Non-GAAP net loss was $(8.2) million for the first quarter of 2020, compared to $(8.0) million for the first quarter of 2019. Non-GAAP net loss per share was $(0.12) for the first quarter of 2020, based on 67.5 million basic and diluted shares outstanding, consistent with $(0.12) for the first quarter of 2019, based on 64.3 million basic and diluted shares outstanding. Adjusted EBITDA: Adjusted EBITDA loss was $(3.6) million for the first qua...