APPN earnings analysis
What we found in APPN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Appian Corporation reported Q1 2026 revenue of $202.18 million, a 21.5% increase compared to $166.43 million in Q1 2025, with EPS decreasing to $(0.02) from $(0.02) in the prior year. Management focuses on expanding cloud subscriptions, which grew 24.7% year-over-year, and anticipates continued growth though the year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surged 21.5% YoY
- Total revenue reached $202.18 million compared to $166.43 million in the prior year.
- Cloud Subscriptions Driving Growth
- Cloud subscriptions revenue grew 24.7% to $124.51 million from $99.83 million year-over-year.
- Professional Services Revenue Increased
- Professional services revenue rose by 30.5%, from $32.07 million to $41.87 million.
- Operating Income Turnaround
- Operating income improved to $3.16 million versus a loss of $0.83 million in the prior year.
- Strong Operating Cash Flow
- Operating cash flow was $48.83 million for Q1 2026, up from $44.97 million in Q1 2025.
- Cash Position Strengthened
- Cash and cash equivalents increased to $150.03 million from $135.81 million at year-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Continued Net Losses
- Appian posted a net loss of $1.53 million for Q1 2026, worsening from a $1.18 million loss in Q1 2025.
- Increased General and Administrative Costs
- General and administrative expenses surged 34.3% to $33.67 million from $25.08 million year-over-year.
- Litigation Costs Impacting Profitability
- Legal fees associated with litigation against Pegasystems contributed to increased costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.02
- Gross margin
- 73.1%
- Operating margin
- 1.6%
- Segment
- Subscriptions
- Segment
- Professional Services
What they said about what is next.
Management expects Q2 revenue between $191 million and $195 million with full-year 2026 revenue expected to grow 13% to 14%.
The filing reads better than the one before it.
What came before.
- 10-K · February 19, 2026
- Appian emphasizes a unified AI + process automation platform anchored by a patented data fabric and partner-led go-to-market. The company increased high-value customers (140 customers paying >$1M ARR at end of 2025),…
- 10-Q · May 8, 2025
- Appian reported quarterly revenue of $166.426M (up $16.591M or 11.1% YoY) with subscriptions driving growth to $134.352M. Gross margin expanded to 76.6% and operating loss narrowed to $0.834M (operating margin -0.5%),…
- 10-K · February 19, 2025
- Appian positions itself as a unified "AI in process" platform for process orchestration, automation, and intelligence, emphasizing embedded AI, a patented data fabric, and partner-led go-to-market. The company…
- 10-Q · May 2, 2024
- Appian reported Q1 revenue of $149,835,000, up 10.8% YoY from $135,235,000, with gross profit of $111,838,000 (≈74.6% margin). Operating loss narrowed to $19,535,000 (‑13.0% operating margin) from $35,266,000 a year…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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