On Wednesday, Appian Corp (NASDAQ: APPN) reported fiscal fourth-quarter 2024 revenue growth of 15% year-on-year to $166.69 million, beating the analyst consensus estimate of $164.26 million.
Adjusted EPS of $0.00 beat the analyst consensus loss of $0.01. The stock price climbed after the results.
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Total subscription revenue increased 18% year over year to $136.8 million. Professional services revenue was $29.9 million, up 1% year over year.
Adjusted EBITDA was $21.22 million, up from $1.03 million year-over-year.
Appian ended the quarter with cash and equivalents of $159.9 million.
CEO and founder Matt Calkins noted in 2024 that Appian demonstrated its ability to grow with increasing efficiency.
He said the company specialized in creating value with AI by deploying it in a process.
Outlook: Appian expects first-quarter fiscal 2025 revenue of $162.0 million–$164.0 million, up by 8%–9% Y/Y against the consensus of $166.79 million. It projects an adjusted EPS of $0.02-$0.05 versus the $0.00 consensus.
The company expects fiscal 2025 revenue of $680.0 million–$684.0 million, up by 10% Y/Y, against the consensus of $682.55 million.
It projects an adjusted EPS of $0.17–$0.22 against a consensus of $0.13.
Appian stock declined over 11% in the last 12 months despite topping the analysts consensus estimates for at least seven out of last eight quarters.
Price Action: APPN stock is up 20.80% at $38.69 at the last check on Wednesday.
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