Appian stock surges on strong quarterly results and better-than-expected outlook [Video]
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Entrepreneurship

Appian stock surges on strong quarterly results and better-than-expected outlook [Video]

Shares in Appian Corp. closed regular trading up 16% today after the business automation software provider reported better-than-expected earnings and revenue in its fiscal 2024 fourth quarter and smashed earnings expectations for the year ahead.

Appian broke even, compared with earning six cents per share in the fourth quarter of 2023, on revenue of $166.7 million, up 15% year-over-year. Both figures were just ahead of the penny-per-share loss and revenue of $166.35 million expected by analysts.

The company saw cloud subscription revenue of $98.9 million, up 19% year-over-year. Total subscription revenue, which includes cloud, on-premises and maintenance support, rose 18%, to $136.8 million. Professional services revenue rose just 1%, to $29.9 million.

Appianโ€™s customers are notably sticking around, with the company reporting a cloud subscription revenue retention rate of 116% as of the end of the quarter.

Business highlights in the quarter included Appianโ€™s December launchof its latest platform release which introduced process automation powered by enterprise artificial intelligence. …

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