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 (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.
Appian (Nasdaq: APPN) has announced the election of Carl "Boe" Hartman II to its Board of Directors, effective October 1, 2024. Hartman will also serve on Appian's Compensation Committee. As the Co-Founder and CTO of Nomi Health, Hartman brings over 30 years of global banking leadership experience to Appian's board.
Prior to Nomi Health, Hartman was a Partner and Managing Director at Goldman Sachs, leading digital transformation initiatives. His expertise in leveraging emerging technologies for growth aligns with Appian's vision for enhancing digital transformation. Hartman also serves on the boards of Valkyrie Andromeda and Rational Exponent, and is a founding Advisory Board Member of Austin FinTech.
Appian (Nasdaq: APPN) has announced a partnership with Children's National Hospital to support pediatric healthcare in the Washington, DC area. The collaboration includes two key events: Appian's Backyard Bash on September 12, 2024, and sponsorship of the Children's National Race for Every Child 5K on October 19, 2024. These initiatives aim to raise awareness and funds for pediatric healthcare in the community.
Children's National Hospital, recognized for its expertise in pediatric care and research, has been a leader in the field for over 150 years. Appian's commitment to supporting healthcare initiatives that benefit children and families in the DMV region aligns with Children's National's mission to reimagine pediatric care and promote health equity.
Appian (Nasdaq: APPN) has announced that three of its partners have been awarded a $145.9 million multiple-award contract through the Department of Defense Enterprise Software Initiative (DoD ESI). This agreement will provide the U.S. Navy with Appian's commercial off-the-shelf (COTS) software, hardware, and maintenance support over a five-year period.
The contract was awarded to Carahsoft Technology Corp., Groundswell, and TD Synnex Public Sector. This DoD ESI program is designed to centralize IT product and service acquisition across the Department of Defense, streamlining procurement and leveraging the DoD's buying power for potential discounts. Appian's inclusion as a key technology vendor under the DoD ESI is seen as a significant endorsement of its capabilities, particularly in the public sector.
Appian (Nasdaq: APPN) has unveiled the latest version of its platform, focusing on transforming enterprise data and process automation with AI-driven innovations. Key features include:
1. Enhanced AI capabilities with expanded compliance and support for more enterprise use cases.
2. AI Copilot updates for faster data insights and document analysis.
3. HITRUST certification for AI Copilot and AI Skills, ensuring compliance with HIPAA.
4. New AI enhancements like AI Copilot for data fabric, Enterprise Copilot, and Process HQ with AI-suggested starting points.
5. Expanded availability of Prompt Builder AI skill in new cloud locations globally.
These updates aim to streamline workflows, integrate people, technology, and data, and enable more informed decision-making across enterprises.
Appian (APPN) has announced its participation in three upcoming investor conferences:
- KeyBanc Technology Leadership Forum on August 6th at 1:00pm Mountain Time
- Citi 2024 Global TMT Conference on September 6th at 9:10am Eastern Time
- Goldman Sachs Communacopia + Technology Conference on September 11th at 4:25pm Pacific Time
Management will present and host meetings with institutional investors at these events. All presentations will be webcast live and available for replay for a time on the company's investor relations website under the 'News and Events' section.
Appian (APPN) reported Q2 2024 financial results, showing strong growth in cloud subscription revenue, which increased 19% year-over-year to $88.4 million. Total revenue rose 15% to $146.5 million. The company's cloud subscription revenue retention rate was 118%. Despite these gains, Appian still reported a GAAP net loss of $(43.6) million, or $(0.60) per share.
Notably, Appian AI usage nearly doubled due to enhanced functionality launched in Q2. The company has accelerated its path to profitability, now expecting to achieve adjusted EBITDA breakeven for the full year 2024. For Q3 2024, Appian projects cloud subscription revenue between $89.0-$91.0 million and total revenue of $149.0-$153.0 million.
Appian (Nasdaq: APPN) announces its intention to appeal the decision by the Court of Appeals of Virginia and seek reinstatement of its judgment against Pegasystems Inc. for willful and malicious trade secret misappropriation. The appeal follows a jury verdict based on extensive testimony and evidence demonstrating Pegasystems' use of a "spy" to analyze Appian's software and improve its own product. The Court of Appeals upheld that Appian presented sufficient evidence of its trade secrets and their protection. Appian believes the Court's ruling on burden shifting for damages isolates Virginia from other states' views on trade secret protection. The company remains confident in the evidence of misappropriation and its right to corresponding damages.
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