Appian Preliminary Revenue Of $149.8M For Q1 2024 Vs $149.45M Est.; Cloud Subscription Revenue Expected To Be $86.6M
Portfolio Pulse from Benzinga Newsdesk
Appian reports preliminary Q1 2024 revenue of $149.8M, surpassing estimates of $149.45M. Cloud subscription revenue is expected to be $86.6M, a 24% increase from Q1 2023. The company anticipates a GAAP net loss between $(33.9)M and $(32.4)M, an improvement from $(36.8)M in Q1 2023. Adjusted EBITDA loss is expected to narrow to between $(2.0)M and $(1.0)M from $(15.8)M in the previous year.
April 16, 2024 | 6:37 pm
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Appian's Q1 2024 preliminary results show revenue growth and improved financial health, with total revenue and cloud subscription revenue exceeding expectations.
Appian's reported revenue growth, especially in cloud subscription, indicates a strong market position and operational efficiency. The improvement in GAAP net loss and adjusted EBITDA suggests better financial management and operational leverage. These factors are likely to positively influence investor sentiment and stock price in the short term.
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