Appian Corporation (APPN) 10-Year Financial Performance & Capital Metrics

APPN •

TechnologyInfrastructure SoftwareDeveloper tools and automation

AboutAppian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services. It serves to financial services, government, life sciences, insurance, manufacturing, energy, healthcare, telecommunications, and transportation industries. The company was incorporated in 1999 and is headquartered in McLean, Virginia.Show more

Revenue $727M +17.8%
EBITDA $609K +101.2%
Net Income $1M +101.3%
EPS (Diluted) 0.02 +101.6%
Gross Margin 72.54% -4.1%
EBITDA Margin 0.08% +101.0%
Operating Margin 0.08% +100.8%
Net Margin 0.17% +101.1%
ROE -
ROIC 0.34% +101.3%
Debt/Equity -
Interest Coverage 0.03 +101.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 19.0%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y20.65%

5Y19%

3Y15.81%

TTM15.97%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM91.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM91.79%

ROCE

10Y Avg-33.72%

5Y Avg-26.72%

3Y Avg-20.09%

Latest0.24%

Peer Comparison

Developer tools and automation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
APPNAppian Corporation	1.97B	26.67	1333.50	17.81%	-1.06%		3.02%
SNPSSynopsys, Inc.	79.26B	414.00	51.49	15.12%	13.75%	3.6%	1.7%	0.50
MLGOMicroAlgo Inc.	35.7M	3.57	6.49	-9.22%	11.11%	2.12%	11.4%	0.16
PDYNPalladyne AI Corp.	295.52M	7.03	-2.54	26.68%	-9.53%	-79.92%
PATHUiPath Inc.	797.3M	10.73	-82.54	9.3%	14.79%	11.93%	38.33%	0.04
VSAIVERSES AI Inc. Common Stock	1.31M	6.59

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	132.92M	176.74M	226.74M	260.35M	304.57M	369.26M	467.99M	545.36M	617.02M	726.94M
Revenue Growth %	19.53%	32.96%	28.29%	14.82%	16.99%	21.24%	26.74%	16.53%	13.14%	17.81%
Cost of Goods Sold+	50.12M	64.6M	84.92M	93.84M	88.77M	104.09M	133.31M	143.32M	150.18M	199.6M
COGS % of Revenue	37.71%	36.55%	37.45%	36.04%	29.14%	28.19%	28.48%	26.28%	24.34%	27.46%
Gross Profit+	82.8M	112.14M	141.82M	166.51M	215.81M	265.17M	334.69M	402.04M	466.84M	527.34M
Gross Margin %	62.29%	63.45%	62.55%	63.96%	70.86%	71.81%	71.52%	73.72%	75.66%	72.54%
Gross Profit Growth %	32.01%	35.43%	26.47%	17.41%	29.61%	22.87%	26.22%	20.13%	16.12%	12.96%
Operating Expenses+	94.17M	143.95M	188.54M	216.98M	253.71M	349.07M	479.69M	510.01M	527.7M	526.73M
OpEx % of Revenue	70.85%	81.45%	83.15%	83.34%	83.3%	94.53%	102.5%	93.52%	85.52%	72.46%
Selling, General & Admin	71.18M	109.12M	143.81M	158.94M	183.47M	251.56M	340.49M	356.92M	372.72M	354.54M
SG&A % of Revenue	53.55%	61.74%	63.43%	61.05%	60.24%	68.12%	72.75%	65.45%	60.41%	48.77%
Research & Development	22.99M	34.84M	44.72M	58.04M	70.24M	97.52M	139.21M	153.1M	154.98M	172.19M
R&D % of Revenue	17.3%	19.71%	19.72%	22.29%	23.06%	26.41%	29.75%	28.07%	25.12%	23.69%
Other Operating Expenses	0	0	0	941K	0	0	0	0	0	0
Operating Income+	-11.37M	-31.81M	-46.72M	-50.47M	-37.9M	-83.91M	-145.01M	-107.97M	-60.85M	609K
Operating Margin %	-8.55%	-18%	-20.6%	-19.38%	-12.44%	-22.72%	-30.99%	-19.8%	-9.86%	0.08%
Operating Income Growth %	-134.82%	-179.78%	-46.86%	-8.02%	24.9%	-121.38%	-72.82%	25.54%	43.64%	101%
EBITDA+	-10.61M	-30.93M	-44.7M	-45.73M	-32.05M	-78.16M	-137.71M	-98.5M	-50.82M	609K
EBITDA Margin %	-7.98%	-17.5%	-19.71%	-17.56%	-10.52%	-21.17%	-29.43%	-18.06%	-8.24%	0.08%
EBITDA Growth %	-160.01%	-191.58%	-44.54%	-2.3%	29.91%	-143.87%	-76.18%	28.47%	48.4%	101.2%
D&A (Non-Cash Add-back)	764K	886K	2.02M	4.74M	5.85M	5.74M	7.3M	9.47M	10.03M	0
EBIT	-13.16M	-29.77M	-49.01M	-49.53M	-32.12M	-87.49M	-148.56M	-90.37M	-67.63M	0
Net Interest Income+	-982K	-473K	-198K	-367K	-478K	-372K	-1.67M	-17.86M	-23.58M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	982K	473K	198K	367K	478K	372K	1.67M	17.86M	23.58M	20.85M
Other Income/Expense	-2.77M	1.56M	-2.49M	574K	5.31M	-3.96M	-5.22M	-259K	-30.36M	5.83M
Pretax Income+	-14.14M	-30.25M	-49.21M	-49.89M	-32.59M	-87.86M	-150.23M	-108.23M	-91.21M	6.44M
Pretax Margin %	-10.64%	-17.11%	-21.7%	-19.16%	-10.7%	-23.79%	-32.1%	-19.85%	-14.78%	0.89%
Income Tax+	-1.68M	761K	239K	820K	883K	778K	692K	3.21M	1.05M	5.21M
Effective Tax Rate %	88.1%	102.52%	100.49%	101.64%	102.71%	100.89%	100.46%	102.96%	101.16%	19.13%
Net Income+	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Net Margin %	-9.37%	-17.54%	-21.81%	-19.48%	-10.99%	-24.01%	-32.25%	-20.43%	-14.95%	0.17%
Net Income Growth %	-78.35%	-148.83%	-59.48%	-2.55%	33.99%	-164.78%	-70.26%	26.16%	17.21%	101.34%
Net Income (Continuing)	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.23	-0.63	-0.80	-0.77	-0.48	-1.25	-2.08	-1.52	-1.26	0.02
EPS Growth %	-76.92%	-173.91%	-26.98%	3.75%	37.66%	-160.42%	-66.4%	26.92%	17.11%	101.59%
EPS (Basic)	-0.23	-0.63	-0.80	-0.77	-0.48	-1.25	-2.08	-1.52	-1.26	0.02
Diluted Shares Outstanding	54.72M	49.53M	62.14M	65.48M	69.05M	71.04M	72.46M	73.1M	72.99M	74.65M
Basic Shares Outstanding	54.72M	49.53M	62.14M	65.48M	69.05M	71.04M	72.46M	73.1M	72.99M	74.05M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	88.38M	145.22M	209.63M	277.66M	365.42M	338.26M	422.5M	414.36M	435.54M	519.42M
Cash & Short-Term Investments	31.14M	73.76M	94.93M	159.75M	222.29M	155.97M	196M	159M	159.86M	187.22M
Cash Only	31.14M	73.76M	94.93M	159.75M	112.46M	100.8M	148.13M	149.35M	118.55M	135.81M
Short-Term Investments	0	0	0	0	109.83M	55.18M	47.86M	9.65M	41.31M	51.41M
Accounts Receivable	46.81M	55.31M	79.38M	70.41M	97.28M	130.05M	165.96M	171.56M	195.07M	255.06M
Days Sales Outstanding	128.55	114.24	127.79	98.71	116.58	128.55	129.44	114.82	115.39	128.07
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	7.15M	9.12M	28.42M	14.54M	17.9M	25.46M	60.54M	83.79M	80.61M	77.14M
Total Non-Current Assets+	14.35M	15.83M	23.55M	93.82M	147.1M	166.25M	171.72M	213.15M	185.5M	171.97M
Property, Plant & Equipment	3.1M	2.66M	7.54M	63.76M	66.06M	64.81M	79.1M	82.66M	68.19M	60.16M
Fixed Asset Turnover	42.86x	66.37x	30.08x	4.08x	4.61x	5.70x	5.92x	6.60x	9.05x	12.08x
Goodwill	0	0	0	0	4.86M	27.8M	26.35M	27.11M	25.55M	28.81M
Intangible Assets	0	0	0	0	1.74M	7.14M	5.25M	3.89M	2.24M	1.25M
Long-Term Investments	0	0	0	0	36.12M	12.04M	0	0	0	0
Other Non-Current Assets	11.24M	12.89M	15.69M	29.57M	37.82M	53.44M	59.07M	96.04M	85.38M	76.9M
Total Assets+	102.74M	161.05M	233.18M	371.49M	512.52M	504.52M	594.21M	627.5M	621.04M	691.39M
Asset Turnover	1.29x	1.10x	0.97x	0.70x	0.59x	0.73x	0.79x	0.87x	0.99x	1.05x
Asset Growth %	23.19%	56.76%	44.79%	59.31%	37.97%	-1.56%	17.78%	5.6%	-1.03%	11.33%
Total Current Liabilities+	76.02M	95.11M	128.4M	112.28M	155.89M	215.72M	270.25M	371.17M	354.76M	452.11M
Accounts Payable	5.06M	5.23M	9.25M	5.22M	2.97M	5.77M	8M	6.17M	4.32M	6.66M
Days Payables Outstanding	36.83	29.53	39.75	20.31	12.2	20.22	21.9	15.72	10.5	12.17
Short-Term Debt	6.11M	0	0	0	0	0	2.74M	66.37M	9.6M	13.18M
Deferred Revenue (Current)	52M	70.17M	95.52M	82.2M	116.26M	150.17M	194.77M	235.99M	281.76M	341.28M
Other Current Liabilities	3.3M	7.65M	9.83M	13.44M	24.15M	14.79M	44.84M	8.7M	413K	97.64M
Current Ratio	1.16x	1.53x	1.63x	2.47x	2.34x	1.57x	1.56x	1.12x	1.23x	1.15x
Quick Ratio	1.16x	1.53x	1.63x	2.47x	2.34x	1.57x	1.56x	1.12x	1.23x	1.15x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	34.8M	20.41M	31.59M	53.97M	60.03M	54.88M	178.26M	203.99M	298.92M	286.28M
Long-Term Debt	13.89M	0	0	0	0	0	115.38M	140.22M	240.83M	276.92M
Capital Lease Obligations	0	0	0	46.79M	51.19M	48.78M	57.23M	59.07M	52.19M	0
Deferred Tax Liabilities	32K	87K	42K	38K	70K	209K	102K	2K	0	0
Other Non-Current Liabilities	2.77M	1.4M	15.4M	0	4.88M	3.46M	0	0	431K	9.36M
Total Liabilities	110.81M	115.53M	159.99M	166.25M	215.92M	270.6M	448.51M	575.16M	653.68M	738.39M
Total Debt+	20M	0	0	52.07M	58.12M	56.89M	184.03M	277.35M	314.99M	290.1M
Net Debt	-11.14M	-73.76M	-94.93M	-107.68M	-54.34M	-43.9M	35.89M	128M	196.44M	154.29M
Debt / Equity	-	-	-	0.25x	0.20x	0.24x	1.26x	5.30x	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	476.36x
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	253.35x
Interest Coverage	-11.58x	-67.25x	-235.95x	-137.51x	-79.29x	-225.56x	-86.68x	-6.04x	-2.58x	0.03x
Total Equity+	-8.08M	45.52M	73.19M	205.24M	296.61M	233.92M	145.7M	52.34M	-32.64M	-46.99M
Equity Growth %	-300.67%	663.63%	60.78%	180.41%	44.52%	-21.14%	-37.71%	-64.08%	-162.36%	-43.97%
Book Value per Share	-0.15	0.92	1.18	3.13	4.30	3.29	2.01	0.72	-0.45	-0.63
Total Shareholders' Equity	-8.08M	45.52M	73.19M	205.24M	296.61M	233.92M	145.7M	52.34M	-32.64M	-46.99M
Common Stock	3K	6K	6K	6K	7K	7K	7K	7K	7K	7K
Retained Earnings	-64.83M	-96.19M	-145.64M	-135.41M	-168.89M	-257.53M	-408.45M	-519.89M	-612.15M	-610.92M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.33M	439K	542K	-285K	-5.01M	-5.69M	-7.25M	-23.55M	-11.77M	-36.46M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-7.76M	-9.13M	-31.32M	-8.93M	-7.62M	-53.92M	-106.55M	-110.44M	6.88M	62.87M
Operating CF Margin %	-5.83%	-5.16%	-13.81%	-3.43%	-2.5%	-14.6%	-22.77%	-20.25%	1.11%	8.65%
Operating CF Growth %	-261.59%	-17.69%	-243.13%	71.5%	14.63%	-607.59%	-97.62%	-3.65%	106.23%	814.13%
Net Income	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Depreciation & Amortization	764K	886K	2.02M	4.74M	5.85M	5.74M	7.3M	9.47M	10.03M	9.71M
Stock-Based Compensation	0	12.98M	16.05M	16.44M	15.28M	23.84M	38.83M	43.39M	39.05M	41.54M
Deferred Taxes	-1.12M	-251K	-218K	-330K	-184K	-498K	-1.09M	-1.54M	-899K	-349K
Other Non-Cash Items	207K	787K	207K	245K	1.03M	489K	1.34M	-10.73M	24.56M	10.74M
Working Capital Changes	4.86M	7.48M	66K	20.69M	3.88M	5.14M	-2.01M	-39.59M	26.41M	0
Change in Receivables	-11.15M	-9.72M	-23.33M	7.43M	-33.56M	-33.9M	-37.92M	-1.87M	-28.35M	-51.67M
Change in Inventory	-1.65M	-3.78M	798K	16.9M	4.24M	0	0	0	0	0
Change in Payables	1.29M	4.13M	7.46M	-4.04M	-4.24M	11.47M	-3.29M	-1.39M	-871K	9.27M
Cash from Investing+	-984K	-433K	-7.01M	-32.42M	-153.36M	41.94M	10.26M	28.59M	-35.39M	-12.83M
Capital Expenditures	-984K	-433K	-7.01M	-32.42M	-1.25M	-6.06M	-9.1M	-9.64M	-3.8M	-3.32M
CapEx % of Revenue	0.74%	0.24%	3.09%	12.45%	0.41%	1.64%	1.94%	1.77%	0.62%	0.46%
Acquisitions	0	0	4K	0	-6.14M	-30.73M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	4K	0	-152.11M	0	0	0	0	0
Cash from Financing+	10M	50.95M	60.96M	105.55M	110.47M	2.79M	142.87M	79.17M	-258K	-36.28M
Debt Issued (Net)	10M	-20.38M	0	-653K	-3.82M	0	119.38M	88.44M	43.75M	0
Equity Issued (Net)	0	1000K	1000K	1000K	1000K	0	0	0	-1000K	0
Dividends Paid	0	-7.57M	0	0	0	0	0	0	0	0
Share Repurchases	0	-2.42M	0	0	0	0	0	0	-50.02M	-20M
Other Financing	0	1.11M	2.7M	4.55M	6.03M	2.79M	23.49M	-9.27M	6.01M	-36.28M
Net Change in Cash	-250K	42.62M	21.17M	64.83M	-47.29M	-8.5M	46.42M	-1.03M	-30.8M	17.26M
Free Cash Flow+	-8.74M	-9.56M	-38.34M	-41.35M	-8.87M	-59.98M	-115.65M	-120.08M	3.08M	59.56M
FCF Margin %	-6.58%	-5.41%	-16.91%	-15.88%	-2.91%	-16.24%	-24.71%	-22.02%	0.5%	8.19%
FCF Growth %	-227.46%	-9.39%	-300.95%	-7.86%	78.55%	-576.09%	-92.82%	-3.83%	102.56%	1833.64%
FCF per Share	-0.16	-0.19	-0.62	-0.63	-0.13	-0.84	-1.60	-1.64	0.04	0.80
FCF Conversion (FCF/Net Income)	0.62x	0.29x	0.63x	0.18x	0.23x	0.61x	0.71x	0.99x	-0.07x	50.99x
Interest Paid	895K	515K	46K	331K	165K	323K	1.67M	16.91M	22.57M	0
Taxes Paid	610K	615K	680K	356K	1.18M	1.5M	1.24M	4M	3.33M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-165.6%	-83.31%	-36.43%	-13.34%	-33.42%	-79.51%	-112.54%	-936.62%	-
Return on Invested Capital (ROIC)	-	-	-	-99.85%	-16.73%	-29.12%	-58.53%	-44.75%	-26.52%	0.34%
Gross Margin	62.29%	63.45%	62.55%	63.96%	70.86%	71.81%	71.52%	73.72%	75.66%	72.54%
Net Margin	-9.37%	-17.54%	-21.81%	-19.48%	-10.99%	-24.01%	-32.25%	-20.43%	-14.95%	0.17%
Debt / Equity	-	-	-	0.25x	0.20x	0.24x	1.26x	5.30x	-	-
Interest Coverage	-11.58x	-67.25x	-235.95x	-137.51x	-79.29x	-225.56x	-86.68x	-6.04x	-2.58x	0.03x
FCF Conversion	0.62x	0.29x	0.63x	0.18x	0.23x	0.61x	0.71x	0.99x	-0.07x	50.99x
Revenue Growth	19.53%	32.96%	28.29%	14.82%	16.99%	21.24%	26.74%	16.53%	13.14%	17.81%

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Appian Corporation (APPN) 10-Year Financial Performance & Capital Metrics

APPN •

TechnologyInfrastructure SoftwareDeveloper tools and automation

Revenue $727M +17.8%
EBITDA $609K +101.2%
Net Income $1M +101.3%
EPS (Diluted) 0.02 +101.6%
Gross Margin 72.54% -4.1%
EBITDA Margin 0.08% +101.0%
Operating Margin 0.08% +100.8%
Net Margin 0.17% +101.1%
ROE -
ROIC 0.34% +101.3%
Debt/Equity -
Interest Coverage 0.03 +101.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 19.0%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y20.65%

5Y19%

3Y15.81%

TTM15.97%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM91.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM91.79%

ROCE

10Y Avg-33.72%

5Y Avg-26.72%

3Y Avg-20.09%

Latest0.24%

Peer Comparison

Developer tools and automation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
APPNAppian Corporation	1.97B	26.67	1333.50	17.81%	-1.06%		3.02%
SNPSSynopsys, Inc.	79.26B	414.00	51.49	15.12%	13.75%	3.6%	1.7%	0.50
MLGOMicroAlgo Inc.	35.7M	3.57	6.49	-9.22%	11.11%	2.12%	11.4%	0.16
PDYNPalladyne AI Corp.	295.52M	7.03	-2.54	26.68%	-9.53%	-79.92%
PATHUiPath Inc.	797.3M	10.73	-82.54	9.3%	14.79%	11.93%	38.33%	0.04
VSAIVERSES AI Inc. Common Stock	1.31M	6.59

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	132.92M	176.74M	226.74M	260.35M	304.57M	369.26M	467.99M	545.36M	617.02M	726.94M
Revenue Growth %	19.53%	32.96%	28.29%	14.82%	16.99%	21.24%	26.74%	16.53%	13.14%	17.81%
Cost of Goods Sold+	50.12M	64.6M	84.92M	93.84M	88.77M	104.09M	133.31M	143.32M	150.18M	199.6M
COGS % of Revenue	37.71%	36.55%	37.45%	36.04%	29.14%	28.19%	28.48%	26.28%	24.34%	27.46%
Gross Profit+	82.8M	112.14M	141.82M	166.51M	215.81M	265.17M	334.69M	402.04M	466.84M	527.34M
Gross Margin %	62.29%	63.45%	62.55%	63.96%	70.86%	71.81%	71.52%	73.72%	75.66%	72.54%
Gross Profit Growth %	32.01%	35.43%	26.47%	17.41%	29.61%	22.87%	26.22%	20.13%	16.12%	12.96%
Operating Expenses+	94.17M	143.95M	188.54M	216.98M	253.71M	349.07M	479.69M	510.01M	527.7M	526.73M
OpEx % of Revenue	70.85%	81.45%	83.15%	83.34%	83.3%	94.53%	102.5%	93.52%	85.52%	72.46%
Selling, General & Admin	71.18M	109.12M	143.81M	158.94M	183.47M	251.56M	340.49M	356.92M	372.72M	354.54M
SG&A % of Revenue	53.55%	61.74%	63.43%	61.05%	60.24%	68.12%	72.75%	65.45%	60.41%	48.77%
Research & Development	22.99M	34.84M	44.72M	58.04M	70.24M	97.52M	139.21M	153.1M	154.98M	172.19M
R&D % of Revenue	17.3%	19.71%	19.72%	22.29%	23.06%	26.41%	29.75%	28.07%	25.12%	23.69%
Other Operating Expenses	0	0	0	941K	0	0	0	0	0	0
Operating Income+	-11.37M	-31.81M	-46.72M	-50.47M	-37.9M	-83.91M	-145.01M	-107.97M	-60.85M	609K
Operating Margin %	-8.55%	-18%	-20.6%	-19.38%	-12.44%	-22.72%	-30.99%	-19.8%	-9.86%	0.08%
Operating Income Growth %	-134.82%	-179.78%	-46.86%	-8.02%	24.9%	-121.38%	-72.82%	25.54%	43.64%	101%
EBITDA+	-10.61M	-30.93M	-44.7M	-45.73M	-32.05M	-78.16M	-137.71M	-98.5M	-50.82M	609K
EBITDA Margin %	-7.98%	-17.5%	-19.71%	-17.56%	-10.52%	-21.17%	-29.43%	-18.06%	-8.24%	0.08%
EBITDA Growth %	-160.01%	-191.58%	-44.54%	-2.3%	29.91%	-143.87%	-76.18%	28.47%	48.4%	101.2%
D&A (Non-Cash Add-back)	764K	886K	2.02M	4.74M	5.85M	5.74M	7.3M	9.47M	10.03M	0
EBIT	-13.16M	-29.77M	-49.01M	-49.53M	-32.12M	-87.49M	-148.56M	-90.37M	-67.63M	0
Net Interest Income+	-982K	-473K	-198K	-367K	-478K	-372K	-1.67M	-17.86M	-23.58M	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	982K	473K	198K	367K	478K	372K	1.67M	17.86M	23.58M	20.85M
Other Income/Expense	-2.77M	1.56M	-2.49M	574K	5.31M	-3.96M	-5.22M	-259K	-30.36M	5.83M
Pretax Income+	-14.14M	-30.25M	-49.21M	-49.89M	-32.59M	-87.86M	-150.23M	-108.23M	-91.21M	6.44M
Pretax Margin %	-10.64%	-17.11%	-21.7%	-19.16%	-10.7%	-23.79%	-32.1%	-19.85%	-14.78%	0.89%
Income Tax+	-1.68M	761K	239K	820K	883K	778K	692K	3.21M	1.05M	5.21M
Effective Tax Rate %	88.1%	102.52%	100.49%	101.64%	102.71%	100.89%	100.46%	102.96%	101.16%	19.13%
Net Income+	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Net Margin %	-9.37%	-17.54%	-21.81%	-19.48%	-10.99%	-24.01%	-32.25%	-20.43%	-14.95%	0.17%
Net Income Growth %	-78.35%	-148.83%	-59.48%	-2.55%	33.99%	-164.78%	-70.26%	26.16%	17.21%	101.34%
Net Income (Continuing)	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.23	-0.63	-0.80	-0.77	-0.48	-1.25	-2.08	-1.52	-1.26	0.02
EPS Growth %	-76.92%	-173.91%	-26.98%	3.75%	37.66%	-160.42%	-66.4%	26.92%	17.11%	101.59%
EPS (Basic)	-0.23	-0.63	-0.80	-0.77	-0.48	-1.25	-2.08	-1.52	-1.26	0.02
Diluted Shares Outstanding	54.72M	49.53M	62.14M	65.48M	69.05M	71.04M	72.46M	73.1M	72.99M	74.65M
Basic Shares Outstanding	54.72M	49.53M	62.14M	65.48M	69.05M	71.04M	72.46M	73.1M	72.99M	74.05M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	88.38M	145.22M	209.63M	277.66M	365.42M	338.26M	422.5M	414.36M	435.54M	519.42M
Cash & Short-Term Investments	31.14M	73.76M	94.93M	159.75M	222.29M	155.97M	196M	159M	159.86M	187.22M
Cash Only	31.14M	73.76M	94.93M	159.75M	112.46M	100.8M	148.13M	149.35M	118.55M	135.81M
Short-Term Investments	0	0	0	0	109.83M	55.18M	47.86M	9.65M	41.31M	51.41M
Accounts Receivable	46.81M	55.31M	79.38M	70.41M	97.28M	130.05M	165.96M	171.56M	195.07M	255.06M
Days Sales Outstanding	128.55	114.24	127.79	98.71	116.58	128.55	129.44	114.82	115.39	128.07
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	7.15M	9.12M	28.42M	14.54M	17.9M	25.46M	60.54M	83.79M	80.61M	77.14M
Total Non-Current Assets+	14.35M	15.83M	23.55M	93.82M	147.1M	166.25M	171.72M	213.15M	185.5M	171.97M
Property, Plant & Equipment	3.1M	2.66M	7.54M	63.76M	66.06M	64.81M	79.1M	82.66M	68.19M	60.16M
Fixed Asset Turnover	42.86x	66.37x	30.08x	4.08x	4.61x	5.70x	5.92x	6.60x	9.05x	12.08x
Goodwill	0	0	0	0	4.86M	27.8M	26.35M	27.11M	25.55M	28.81M
Intangible Assets	0	0	0	0	1.74M	7.14M	5.25M	3.89M	2.24M	1.25M
Long-Term Investments	0	0	0	0	36.12M	12.04M	0	0	0	0
Other Non-Current Assets	11.24M	12.89M	15.69M	29.57M	37.82M	53.44M	59.07M	96.04M	85.38M	76.9M
Total Assets+	102.74M	161.05M	233.18M	371.49M	512.52M	504.52M	594.21M	627.5M	621.04M	691.39M
Asset Turnover	1.29x	1.10x	0.97x	0.70x	0.59x	0.73x	0.79x	0.87x	0.99x	1.05x
Asset Growth %	23.19%	56.76%	44.79%	59.31%	37.97%	-1.56%	17.78%	5.6%	-1.03%	11.33%
Total Current Liabilities+	76.02M	95.11M	128.4M	112.28M	155.89M	215.72M	270.25M	371.17M	354.76M	452.11M
Accounts Payable	5.06M	5.23M	9.25M	5.22M	2.97M	5.77M	8M	6.17M	4.32M	6.66M
Days Payables Outstanding	36.83	29.53	39.75	20.31	12.2	20.22	21.9	15.72	10.5	12.17
Short-Term Debt	6.11M	0	0	0	0	0	2.74M	66.37M	9.6M	13.18M
Deferred Revenue (Current)	52M	70.17M	95.52M	82.2M	116.26M	150.17M	194.77M	235.99M	281.76M	341.28M
Other Current Liabilities	3.3M	7.65M	9.83M	13.44M	24.15M	14.79M	44.84M	8.7M	413K	97.64M
Current Ratio	1.16x	1.53x	1.63x	2.47x	2.34x	1.57x	1.56x	1.12x	1.23x	1.15x
Quick Ratio	1.16x	1.53x	1.63x	2.47x	2.34x	1.57x	1.56x	1.12x	1.23x	1.15x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	34.8M	20.41M	31.59M	53.97M	60.03M	54.88M	178.26M	203.99M	298.92M	286.28M
Long-Term Debt	13.89M	0	0	0	0	0	115.38M	140.22M	240.83M	276.92M
Capital Lease Obligations	0	0	0	46.79M	51.19M	48.78M	57.23M	59.07M	52.19M	0
Deferred Tax Liabilities	32K	87K	42K	38K	70K	209K	102K	2K	0	0
Other Non-Current Liabilities	2.77M	1.4M	15.4M	0	4.88M	3.46M	0	0	431K	9.36M
Total Liabilities	110.81M	115.53M	159.99M	166.25M	215.92M	270.6M	448.51M	575.16M	653.68M	738.39M
Total Debt+	20M	0	0	52.07M	58.12M	56.89M	184.03M	277.35M	314.99M	290.1M
Net Debt	-11.14M	-73.76M	-94.93M	-107.68M	-54.34M	-43.9M	35.89M	128M	196.44M	154.29M
Debt / Equity	-	-	-	0.25x	0.20x	0.24x	1.26x	5.30x	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	476.36x
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	253.35x
Interest Coverage	-11.58x	-67.25x	-235.95x	-137.51x	-79.29x	-225.56x	-86.68x	-6.04x	-2.58x	0.03x
Total Equity+	-8.08M	45.52M	73.19M	205.24M	296.61M	233.92M	145.7M	52.34M	-32.64M	-46.99M
Equity Growth %	-300.67%	663.63%	60.78%	180.41%	44.52%	-21.14%	-37.71%	-64.08%	-162.36%	-43.97%
Book Value per Share	-0.15	0.92	1.18	3.13	4.30	3.29	2.01	0.72	-0.45	-0.63
Total Shareholders' Equity	-8.08M	45.52M	73.19M	205.24M	296.61M	233.92M	145.7M	52.34M	-32.64M	-46.99M
Common Stock	3K	6K	6K	6K	7K	7K	7K	7K	7K	7K
Retained Earnings	-64.83M	-96.19M	-145.64M	-135.41M	-168.89M	-257.53M	-408.45M	-519.89M	-612.15M	-610.92M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.33M	439K	542K	-285K	-5.01M	-5.69M	-7.25M	-23.55M	-11.77M	-36.46M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-7.76M	-9.13M	-31.32M	-8.93M	-7.62M	-53.92M	-106.55M	-110.44M	6.88M	62.87M
Operating CF Margin %	-5.83%	-5.16%	-13.81%	-3.43%	-2.5%	-14.6%	-22.77%	-20.25%	1.11%	8.65%
Operating CF Growth %	-261.59%	-17.69%	-243.13%	71.5%	14.63%	-607.59%	-97.62%	-3.65%	106.23%	814.13%
Net Income	-12.46M	-31.01M	-49.45M	-50.71M	-33.48M	-88.64M	-150.92M	-111.44M	-92.26M	1.23M
Depreciation & Amortization	764K	886K	2.02M	4.74M	5.85M	5.74M	7.3M	9.47M	10.03M	9.71M
Stock-Based Compensation	0	12.98M	16.05M	16.44M	15.28M	23.84M	38.83M	43.39M	39.05M	41.54M
Deferred Taxes	-1.12M	-251K	-218K	-330K	-184K	-498K	-1.09M	-1.54M	-899K	-349K
Other Non-Cash Items	207K	787K	207K	245K	1.03M	489K	1.34M	-10.73M	24.56M	10.74M
Working Capital Changes	4.86M	7.48M	66K	20.69M	3.88M	5.14M	-2.01M	-39.59M	26.41M	0
Change in Receivables	-11.15M	-9.72M	-23.33M	7.43M	-33.56M	-33.9M	-37.92M	-1.87M	-28.35M	-51.67M
Change in Inventory	-1.65M	-3.78M	798K	16.9M	4.24M	0	0	0	0	0
Change in Payables	1.29M	4.13M	7.46M	-4.04M	-4.24M	11.47M	-3.29M	-1.39M	-871K	9.27M
Cash from Investing+	-984K	-433K	-7.01M	-32.42M	-153.36M	41.94M	10.26M	28.59M	-35.39M	-12.83M
Capital Expenditures	-984K	-433K	-7.01M	-32.42M	-1.25M	-6.06M	-9.1M	-9.64M	-3.8M	-3.32M
CapEx % of Revenue	0.74%	0.24%	3.09%	12.45%	0.41%	1.64%	1.94%	1.77%	0.62%	0.46%
Acquisitions	0	0	4K	0	-6.14M	-30.73M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	4K	0	-152.11M	0	0	0	0	0
Cash from Financing+	10M	50.95M	60.96M	105.55M	110.47M	2.79M	142.87M	79.17M	-258K	-36.28M
Debt Issued (Net)	10M	-20.38M	0	-653K	-3.82M	0	119.38M	88.44M	43.75M	0
Equity Issued (Net)	0	1000K	1000K	1000K	1000K	0	0	0	-1000K	0
Dividends Paid	0	-7.57M	0	0	0	0	0	0	0	0
Share Repurchases	0	-2.42M	0	0	0	0	0	0	-50.02M	-20M
Other Financing	0	1.11M	2.7M	4.55M	6.03M	2.79M	23.49M	-9.27M	6.01M	-36.28M
Net Change in Cash	-250K	42.62M	21.17M	64.83M	-47.29M	-8.5M	46.42M	-1.03M	-30.8M	17.26M
Free Cash Flow+	-8.74M	-9.56M	-38.34M	-41.35M	-8.87M	-59.98M	-115.65M	-120.08M	3.08M	59.56M
FCF Margin %	-6.58%	-5.41%	-16.91%	-15.88%	-2.91%	-16.24%	-24.71%	-22.02%	0.5%	8.19%
FCF Growth %	-227.46%	-9.39%	-300.95%	-7.86%	78.55%	-576.09%	-92.82%	-3.83%	102.56%	1833.64%
FCF per Share	-0.16	-0.19	-0.62	-0.63	-0.13	-0.84	-1.60	-1.64	0.04	0.80
FCF Conversion (FCF/Net Income)	0.62x	0.29x	0.63x	0.18x	0.23x	0.61x	0.71x	0.99x	-0.07x	50.99x
Interest Paid	895K	515K	46K	331K	165K	323K	1.67M	16.91M	22.57M	0
Taxes Paid	610K	615K	680K	356K	1.18M	1.5M	1.24M	4M	3.33M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-165.6%	-83.31%	-36.43%	-13.34%	-33.42%	-79.51%	-112.54%	-936.62%	-
Return on Invested Capital (ROIC)	-	-	-	-99.85%	-16.73%	-29.12%	-58.53%	-44.75%	-26.52%	0.34%
Gross Margin	62.29%	63.45%	62.55%	63.96%	70.86%	71.81%	71.52%	73.72%	75.66%	72.54%
Net Margin	-9.37%	-17.54%	-21.81%	-19.48%	-10.99%	-24.01%	-32.25%	-20.43%	-14.95%	0.17%
Debt / Equity	-	-	-	0.25x	0.20x	0.24x	1.26x	5.30x	-	-
Interest Coverage	-11.58x	-67.25x	-235.95x	-137.51x	-79.29x	-225.56x	-86.68x	-6.04x	-2.58x	0.03x
FCF Conversion	0.62x	0.29x	0.63x	0.18x	0.23x	0.61x	0.71x	0.99x	-0.07x	50.99x
Revenue Growth	19.53%	32.96%	28.29%	14.82%	16.99%	21.24%	26.74%	16.53%	13.14%	17.81%

Appian Corporation (APPN) 10-Year Financial Performance & Capital Metrics

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Appian Corporation (APPN) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare APPN vs Peers

vs SNPS

vs PATH

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios