Shares of Appian Corp (APPN) soared 19.57% in the pre-market trading session on Wednesday, riding on the back of the company's better-than-expected fourth-quarter 2024 financial performance and upbeat guidance for the current quarter and full year.
The low-code automation platform provider reported an adjusted earnings per share of $0.15 for the fourth quarter, surpassing analysts' expectations of a $0.01 loss per share. Additionally, Appian's revenue for the quarter reached $166.685 million, beating the consensus estimate of $164.263 million, thanks to higher demand for its cloud-based solutions.
Looking ahead, Appian expects non-GAAP net income between $0.02 and $0.05 per diluted share on revenue ranging from $162.0 million to $164.0 million for the first quarter of 2025. For the full year 2025, the company forecasts non-GAAP net income of $0.17 to $0.22 per share on revenue of $680.0 million to $684.0 million.
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