Business
Appian Announces Third Quarter 2021 Financial Results
Cloud subscription revenue increased 36% year-over-year to $46.7 millionSubscriptions revenue increased 32% year-over-year to $67.2 million MCLEAN, Va., Nov.
About this update from Appian Corporation
[{"type":"text","content":"Cloud subscription revenue increased 36% year-over-year to $46.7 millionSubscriptions revenue increased 32% year-over-year to $67.2 million MCLEAN, Va., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Appian (Nasdaq: APPN) today announced financial results for the third quarter ended September 30, 2021. “Appian's cloud subscription revenue grew 36%, which is above the top end of our guidance. Appian is an 'engine for change' that is unifying process mining, workflow, and automation within a single low-code platform. Companies are choosing Appian to adapt quickly to the increasing pace of change,” said Matt Calkins, CEO & Founder. Third Quarter 2021 Financial Highlights: Revenue: Cloud subscription revenue was $46.7 million for the third quarter of 2021, up 36% compared to the third quarter of 2020. Total subscriptions revenue, which includes sales of our SaaS subscriptions, on-premises term license subscriptions, and maintenance and support, increased 32% year-over-year to $67.2 million for the third quarter of 2021. Professional services revenue was $25.2 million for the third quarter of 2021, compared to $26.5 million for the third quarter of 2020. Total revenue was $92.4 million for the third quarter of 2021, up 20% compared to the third quarter of 2020. Cloud subscription revenue retention rate was 117% as of September 30, 2021.Operating loss and non-GAAP operating loss: GAAP operating loss was $(22.9) million for the third quarter of 2021, compared to $(7.5) million for the third quarter of 2020. Non-GAAP operating loss was $(13.5) million for the third quarter of 2021, compared to $(3.9) million for the third quarter of 2020.Net loss and non-GAAP net loss: GAAP net loss was $(25.4) million for the third quarter of 2021, compared to $(3.6) million for the third quarter of 2020. GAAP net loss per share was $(0.36) for the third quarter of 2021, based on 71.1 million weighted-average shares outstanding, compared to $(0.05) for the third quarter of 2020, based on 69.9 million weighted-average shares outstanding. Non-GAAP net loss was $(15.9) million for the third quarter of 2021, compared to $(34,000) for the third quarter of 2020. Non-GAAP net loss per share was $(0.22) for the third quarter of 2021, based on 71.1 million basic and diluted shares outstanding, compared to the $(0.00) net loss per share for the third quarter of 2020, based o...