Appian Corporation (NASDAQ: APPN) stock gained on Thursday after it reported fiscal second-quarter results.
The company reported quarterly revenue growth of 17% year-on-year (Y/Y) to $170.64 million, beating the analyst consensus estimate of $159.70 million.
Total subscription revenue increased 17% Y/Y to $132.7 million.
Also Read: These Analysts Raise Their Forecasts On Appian After Upbeat Q1 Results
Professional services revenue was $38.0 million, up by 13% Y/Y.
Adjusted EBITDA was $8.1 million, compared to adjusted EBITDA loss of $10.5 million a year ago.
Appian ended the quarter with cash and equivalents of $184.8 million.
The company had a net cash outflow of $1.9 million from operating activities versus $17.6 million Y/Y.
Matt Calkins, CEO and Founder, said Appian AI drove strong financial results in the quarter by boosting prices and expanding the pipeline.
Outlook
Appian expects third-quarter fiscal 2025 revenue of $172.00 million–$176.00 million, up by 12%–14% Y/Y against the analyst consensus estimate of $171.71 million. It projects an adjusted EPS of 3 cents-7 cents versus the 21 cents analyst consensus estimate.
The company expects fiscal 2025 revenue of $695.00 million-$703.00 million (prior $680.00 million-$688.00 million), up by 13%-14% Y/Y, against the analyst consensus estimate of $681.86 million.
It projects an adjusted EPS of 28 cents-36 cents (prior 18 cents-26 cents) against the analyst consensus estimate of 18 cents.
Appian stock is down over 18% year-to-date, driven by concerns about its clients’ activities, including a legal dispute with Pegasystems (NASDAQ:PEGA).
APPN Price Action: Appian Corp. stock is trading higher by 15.00% to $31.00 premarket at last check Thursday.
Read Next:
- Rivian’s Path To Profitability Gets Longer As Regulatory Changes Squeeze Margins
Image by Postmodern Studio via Shutterstock