Business
Appian Announces Fourth Quarter and Full Year 2022 Financial Results
Fourth quarter cloud subscription revenue increased 29% year-over-year to $65.8 millionFull year cloud subscription revenue increased 32% year-over year to
About this update from Appian Corporation
[{"type":"text","content":"Fourth quarter cloud subscription revenue increased 29% year-over-year to $65.8 millionFull year cloud subscription revenue increased 32% year-over year to $236.9 million MCLEAN, Va., Feb. 16, 2023 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the fourth quarter and full year ended December 31, 2022. “Appian grew cloud subscriptions revenue 32% for the full year. Our loyal customers and high gross margins provide a strong foundation as we enter 2023. Organizations are choosing Appian to increase productivity, time to value, and return on investment during uncertain times,” said Matt Calkins, CEO & Founder. Fourth Quarter 2022 Financial Highlights: Revenue: Cloud subscription revenue was $65.8 million, up 29% compared to the fourth quarter of 2021. Total subscriptions revenue, which includes sales of our cloud subscriptions, on-premises term license subscriptions, and maintenance and support, increased 23% year-over-year to $93.2 million. Professional services revenue was $32.5 million, an increase of 11% compared to the fourth quarter of 2021. Total revenue was $125.8 million, up 20% compared to the fourth quarter of 2021. Cloud subscription revenue retention rate was 115% as of December 31, 2022.Operating loss and non-GAAP operating loss: GAAP operating loss was $(40.6) million, compared to $(25.9) million for the fourth quarter of 2021. Non-GAAP operating loss was $(26.8) million, compared to $(11.7) million for the fourth quarter of 2021.Net loss and non-GAAP net loss: GAAP net loss was $(34.4) million, compared to $(25.8) million for the fourth quarter of 2021. GAAP net loss per share was $(0.47) for the fourth quarter of 2022, compared to $(0.36) for the fourth quarter of 2021. Non-GAAP net loss was $(20.6) million, compared to $(11.6) million for the fourth quarter of 2021. Non-GAAP net loss per share was $(0.28), compared to the $(0.16) net loss per share for the fourth quarter of 2021. GAAP and non-GAAP net loss for the fourth quarter of 2022 included $8.5 million, or $0.12 per share, of foreign currency exchange gains. GAAP and non-GAAP net loss for the fourth quarter of 2021 included $0.5 million, or $0.01 per share, of foreign currency exchange gains. We do not forecast foreign exchange rate movements.Adjusted EBITDA: Adjusted EBITDA loss was $(24.8) million, compared to adjusted EBIT...