Welcome to our dedicated page for Appian Corporation news (Ticker: APPN), a resource for investors and traders seeking the latest updates and insights on Appian Corporation stock.
Appian Corporation (NASDAQ: APPN) is a leading provider of low-code automation platforms designed to make building, launching, using, and updating powerful enterprise apps straightforward and efficient. The company specializes in business process management (BPM), offering a range of automation tools that allow organizations to streamline their end-to-end processes, enhance operational efficiency, and improve overall agility. Appian's core competencies include integrated case management, robotic process automation (RPA), artificial intelligence (AI), data fabric, and process mining capabilities.
Appian's platform facilitates the creation of easy-to-use, natively mobile applications, enabling businesses to unify their processes, data, systems, and applications under one integrated platform. This model supports a build-once, deploy-everywhere approach, making it adaptable and scalable across various organizational needs without requiring extensive coding expertise.
Recognized by global IT analyst firms such as Gartner, Forrester, and IDC, Appian has earned a reputation for its industry leadership in the low-code automation space. Most of Appian's revenue is derived from its subscription-based cloud platform, Appian Cloud, which is used by some of the world's most innovative organizations to create seamless workflows, unify data sources, and optimize business operations.
Recent developments highlight Appian's strong market presence and continuous innovation. For instance, the company's collaboration with Amazon Web Services (AWS) aims to integrate generative AI into enterprise business processes, leveraging Amazon Bedrock and SageMaker for enhanced AI capabilities. Additionally, Appian has launched ProcureSight, a new solution designed to streamline federal acquisitions in the U.S., showcasing their ability to address specific industry needs effectively.
Financially, Appian has shown robust growth with its cloud subscription revenue increasing by 24% year-over-year, reaching $86.6 million in Q1 2024. The company continues to invest in expanding its market reach and technological advancements, aiming for sustained revenue growth and improved operational efficiency.
Appian also announced key partnerships, such as with TELUS International and ReleasePoint, to further extend its platform capabilities and enhance customer experiences across various industries. These partnerships underscore Appian's commitment to driving innovation through strategic collaborations.
Overall, Appian Corporation represents a dynamic and forward-thinking player in the enterprise automation space, committed to helping organizations achieve better growth and superior customer experiences through advanced process automation solutions.
Appian (APPN) reported strong Q3 2024 results with cloud subscription revenue growing 22% year-over-year to $94.1 million. Total revenue increased 12% to $154.1 million, while total subscriptions revenue rose 19% to $123.1 million. The company significantly improved its financial position, reducing GAAP operating loss to $(7.2) million from $(15.2) million in Q3 2023. Non-GAAP operating income reached $8.3 million, compared to a loss of $(7.7) million last year. The cloud subscription retention rate stood at 117%. For Q4 2024, Appian expects cloud subscription revenue between $95.0-$97.0 million and projects positive adjusted EBITDA for full-year 2024.
Appian (APPN) has been included in the InsurTech100 list by Fintech Global for the second consecutive year, recognizing the world's most innovative companies transforming the insurance industry through technology. As a leader in enterprise low-code application platforms, Appian serves major insurers like Pacific Life and Aon. The company, celebrating its 25th anniversary, is distinguished as the only InsurTech100 company that is a Gartner® Magic Quadrant™ Leader for Enterprise Low-Code Application Platforms and ranked #1 for Complex Internal Applications Use Case in the 2024 Gartner® Critical Capabilities Report.
Appian (Nasdaq: APPN) announced its 2024 Public Sector Partner Impact and Excellence Awards winners at the Appian Government conference. The awards recognize partners' achievements in delivering innovation and value using the Appian Platform. Accenture Federal Services won the Transformation Award for their ERP modernization approach. KPMG received the Delivery Award for efficient system implementation. Groundswell earned the Innovation Award for their Integrated Budget Suite. Deloitte secured the Growth Award with a 97% revenue increase from FY22 to FY24. Ignyte Group was named State and Local Partner of the Year for their success in the SLED sector.
Appian announced the integration of ProcureSight with its Requirements Management solution, enhancing government procurement processes through AI capabilities. The integration streamlines requirements building by incorporating semantic search and generative AI to analyze award, solicitation, protest, and vendor data. This solution addresses the challenge of researching past procurements as required by the Federal Acquisition Regulation (FAR), automating the process of gathering and analyzing procurement information from multiple sources. Key benefits include streamlined research, AI-powered insights, faster document creation, and automatic display of best-in-class contracts based on PSC or NAICS codes.
Appian (APPN) announces expansion of its partnership with the US Army through a Foreign Military Sales (FMS) Army Case Execution System (ACES) contract, where Appian serves as the platform provider under Forge Group. The new system will replace the Army's 30-year-old Case Information System, modernizing FMS processes from case initiation to closeout. The platform will support approximately 1,000 users, including 600 concurrent users, providing automated workflows, real-time connections to over 20 government data sources, and comprehensive analysis capabilities. The implementation team includes Horizon Industries and 540.co, utilizing AWS services on cArmy.
Appian (APPN) has achieved a significant milestone by securing the US Department of the Interior as a client, making it the technology provider for all 15 cabinet-level agencies in the US federal government. The company's solutions are extensively used across all military branches and Fourth Estate agencies. Appian has obtained FedRAMP compliance for its AI features, including document classification, extraction, and email classification. The company's low-code process automation platform helps public sector organizations improve mission-critical capabilities through process orchestration and AI-driven insights, serving over 200 distinct public sector organizations across five continents.
Acclaim Autism has implemented Appian's private AI capabilities to enhance its patient onboarding process, achieving significant improvements in efficiency and accuracy. The solution streamlines the processing of unstructured medical documents, automating the extraction of essential patient information while maintaining HIPAA compliance. The implementation has resulted in a 95% accuracy rate in data extraction and is expected to reduce patient intake wait times by over 80%, from 3-6 months to less than 30 days. In existing service areas, eligible clients can now expect intake times of less than ten days.
Appian (Nasdaq: APPN) has achieved top rankings in the 2024 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report. The company ranked #1 for the Complex Internal Applications Use Case and second for both External-Facing Applications and Tactical Internal Applications Use Cases. Appian was also recognized as a Leader in the Gartner Magic Quadrant for Enterprise LCAP.
The Critical Capabilities report evaluated 13 low-code platform vendors across three use cases. Malcolm Ross, SVP of Product Strategy at Appian, highlighted the company's focus on orchestrating business processes and its innovations in AI and integrated process automation as key differentiators.
Appian invites interested parties to download the complimentary reports and connect with them at the Gartner IT Symposium/Xpo™ 2024 in Orlando, Florida from October 21-24, 2024.
Appian (Nasdaq: APPN) has appointed Mark Dorsey as Chief Revenue Officer. Dorsey will lead the company's global sales operation to accelerate growth, reporting directly to CEO Matt Calkins. With over 25 years of experience in strategic sales leadership, Dorsey has held executive roles at Oracle, IBM, and Alteryx.
At Oracle, Dorsey served as SVP of Enterprise Cloud Sales, playing a important role in launching Oracle's cloud business and transitioning the sales organization from on-premise to cloud-based solutions. He also led Oracle's Retail Vertical and previously managed sales for both Retail and Healthcare sectors within the Technology Division for North America.
Appian has reaffirmed its guidance for the third quarter of 2024 and full year ending December 31, 2024, as previously provided in its Q2 earnings release and conference call on August 1, 2024.
Appian (Nasdaq: APPN) has announced that it will release its third quarter 2024 financial results on Thursday, November 7, 2024, before the U.S. financial markets open. The company will host a conference call and live webcast to discuss the results and business outlook at 8:30 a.m. Eastern Time.
Participants can join the call by registering through a provided link, which allows them to dial in using their phone or choose the Call Me option for instant connection. The conference call will also be available via live webcast on Appian's Investor Relations webpage. A replay of the webcast will be accessible on the same page after the call concludes.
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