Slide 1: Q1 2020 Earnings Call Presentation
Q1 2020 Earnings Call Presentation Matt Calkins, Founder & CEO Mark Lynch, CFO
Slide 2: Disclaimer
Disclaimer In this presentation, we may make statements related to our business that are forward-looking statements under federal securities laws and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our financial
Slide 3: Q1 2020 Business Highlights
Q1 2020 Business Highlights Companies are using Appian to respond to the COVID-19 crisis • Hundreds downloaded Appian’s COVID-19 Response Management application • Leading healthcare providers using Appian to manage clinical trials and to protect healthcare workers and patients • Leading banks are us
Slide 4: Q1 2020 Financial Highlights
Q1 2020 Financial Highlights Revenue • Cloud Subscription Revenue was $28.4m in Q1 2020, growth of 33% over Q1 2019 • Subscriptions Revenue was $50.4 million in Q1 2020, growth of 46% over Q1 2019 • Total Revenue was $78.9m in Q1 2020, growth of 31% over Q1 2019 Retention • Cloud Subscription Revenu
Slide 5: Cloud Subscription Revenue
Cloud Subscription Revenue USD Millions 28.4 Y/Y Growth in % 26.4 24.6 22.8 21.3 50% 45% 23% 33% 52% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 55
Slide 6: Total Revenue
Total Revenue USD Millions 78.9 68.6 65.3 66.2 60.3 28.4 26.5 28.4 28.4 25.7 4.3 4.1 4.0 17.8 4.0 3.7 11.6 10.1 9.2 9.6 24.6 26.4 28.4 21.3 22.8 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Cloud Subscription Revenue On-prem Subscription Revenue Maintenance & Support Professional Services 66
Slide 7: Cloud Subscription Revenue Retention
Cloud Subscription Revenue Retention 126% 122% 121% 115% 115% 100% 0% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 77
Slide 8: Gross Margins*
Gross Margins* Subscriptions Professional Overall Services 90% 89% 89% 89% 90% 67% 70% 64% 65% 64% 34% 34% 35% 32% 28% Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2019 2019 2019 2019 2020 2019 2019 2019 2019 2020 *Non-GAAP - Data does not include any stock-based compensatio
Slide 9: Q1 2020 Highlights
Q1 2020 Highlights Cloud Subscription Revenue ($MM) Cloud Subscription Overall Gross Margins** Revenue Retention* nts basis poi th +6 0 0 Grow 28.4 70% 33 % 64% 21.3 115% Q1 2019 Q1 2020 Q1 2019 Q1 2020 *As of March 31, 2020 **Non-GAAP - Data does not include any stock-based compensation expense 9
Slide 10: Guidance
Guidance Given on May 7, 2020 In $ Millions except for EPS Q2 2020 Cloud Subscription Revenue 28.4 – 28.7 Cloud Subscription Revenue Growth Y/Y 25% – 26% 1 Total Revenue 60.0 – 61.0 Total Revenue Decrease Y/Y (8)% – (7)% Adjusted EBITDA Loss (16.0) – (14.0) 2 Non-GAAP Loss per Share (0.26) – (0.23)
Slide 11: Appendix
Appendix 11
Slide 12: Balance Sheet
Balance Sheet As of As of March 31, December 31, 2020 2019 $ in thousands (unaudited) Assets Cash and cash equivalents $ 149,163 $ 159,755 Accounts receivable, net of allowance of $800 and 600 as of March 31, 2020 and December 31, 2019, respectively 65,153 70,408 Deferred commissions, current 14,686
Slide 13: Income Statement
Income Statement Three Months Ended March 31, 2020 2019 $ in thousands, except for shares (unaudited) Revenue: SaaS (cloud) subscriptions $ 28,390 $ 21,278 Term license (on prem) subscriptions 17,793 9,557 Maintenance and support 4,253 3,722 Total subscriptions revenue 50,436 34,557 Professional ser
Slide 14: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Three Months Ended March 31, $ in thousands, except for shares 2020 2019 Reconciliation of non-GAAP operating loss: GAAP operating loss $ (8,606) $ (15,325) Add back: Stock-based compensation expense 3,476 7,225 Non-GAAP operating loss $ (5,130) $ (8,100) Three Mo
Slide 15: Stock-Based Compensation Expense
Stock-Based Compensation Expense Three Months Ended March 31, $ in thousands 2020 2019 Cost of revenue: Subscriptions $ 213 $ 154 Professional services 212 1,974 Operating Expenses Sales and marketing 753 2,381 Research and development 553 2,115 General and administrative 1,745 601 Total stock-based
Slide 16: Appian
Appian