Appian - APPN STOCK NEWS

On June 13, 2022, Appian (NASDAQ: APPN) announced the election of two new members to its Board of Directors: Bill McCarthy, formerly Chief Revenue Officer at Infoblox, and Mark Lynch, former CFO of Appian. McCarthy brings over 30 years of sales and operations experience, while Lynch has held significant financial leadership roles, including a tenure as CFO at MicroStrategy. Both are expected to contribute to Appian's strategic growth, as highlighted by CEO Matt Calkins.

Appian (NASDAQ: APPN) announced its participation in upcoming investor conferences. Management will present at the Baird 2022 Global Consumer, Technology & Services Conference on June 6, 2022, at 3:45 p.m. ET, and will also host 1x1 meetings at the Berenberg Thematic Software Days Conference 2022 on June 15, 2022. Both events will be webcast live, with replays accessible on their investor relations website. Appian provides a low-code platform for business automation, helping organizations enhance process efficiency.

Appian has opened its first Technology Innovation Center in Seville, Spain, to meet the increasing demand for its Low-Code Platform across Europe, the Middle East, and Africa. This facility is located in the Cartuja Science and Technology Park and aims to hire locally to support its growing customer base. The company's presence in Seville aligns with its previous expansion efforts in Europe, having established its EMEA headquarters in London and its first office in Madrid. Appian plans to double its team in Seville in the upcoming years.

Appian has appointed Laurent Dewailly as the new Regional Vice President for France to spearhead its expansion in response to the rising demand for its Low-Code Platform. The market for low-code development platforms, valued at EUR 7.33 billion in 2021, is projected to reach EUR 35 billion by 2027, with a CAGR near 30%. Dewailly, with over 20 years of experience, aims to enhance Appian's growth in France and capitalize on the strong customer loyalty reflected in a 100% retention rate this year.

Appian has won a significant legal victory, with a Virginia jury awarding it $2.036 billion in damages from Pegasystems for trade secret misappropriation and violation of the Virginia Computer Crimes Act. The jury deemed Pegasystems' actions as willful and malicious. During the trial, Appian demonstrated that Pegasystems hired a contractor to gain unauthorized access to its software, using the information to enhance their competitive offerings. This verdict may represent the largest damages award in Virginia state court history, although Pegasystems plans to appeal.

Appian (NASDAQ: APPN) announced its participation in several upcoming investor conferences, where management will present and hold meetings with institutional investors. Key events include:

• Needham Technology & Media Conference on May 16, 2022
• Cowen Technology, Media & Telecom Conference on June 1, 2022
• Jefferies Software Conference with 1x1 meetings on June 2, 2022
• William Blair Growth Stock Conference on June 8, 2022

The presentations will be webcast live, with replays available on their investor relations website.

Appian reported strong first-quarter results for 2022, highlighting a 37% increase in cloud subscription revenue to $53.4 million year-over-year. Total subscription revenue rose 31% to $83.7 million, while total revenue grew 29% to $114.3 million. Despite these gains, the company faced a GAAP net loss of $(23.2) million and an adjusted EBITDA loss of $(3.4) million. Guidance for Q2 indicates expected cloud subscription revenue between $55.8 million and $56.3 million, reflecting a 31%-32% growth.