Q4 2024 Appian Corp Earnings Call Transcript
Key Points
- Appian Corp (APPN) reported a 19% increase in cloud subscription revenue for Q4 2024, reaching $98.9 million.
- The company's total revenue grew by 15% to $166.7 million in the fourth quarter.
- Appian's non-GAAP gross margin reached 80% in Q4, marking its best performance since the IPO.
- The cloud subscription revenue retention rate was strong at 116%, indicating high customer retention.
- Appian continues to upsell its existing customer base, with two-thirds of customers purchasing more software during 2024.
- The cloud subscription revenue retention rate decreased slightly from 119% a year ago to 116%.
- Professional services revenue only increased by 1% year over year, indicating slower growth in this segment.
- Appian experienced $14.3 million in foreign exchange losses in Q4, compared to gains in the previous year.
- The company's non-GAAP net loss was $2.2 million for Q4, compared to a net income of $4.9 million in the same period last year.
- Appian's guidance for Q1 2025 indicates a slower growth rate in cloud subscription revenue, expected to be between 12% and 14%.
Good day and welcome to Appian's fourth quarter 2024 earnings conference call. (Operator Instructions)
As a reminder, this call may be recorded. I would like to turn the call over to Jack Andrews, Vice President of Investor Relations. Please go ahead.
Good morning and thank you for joining us. Today we'll review Appian's fourth quarter 2024 financial results. With me are Matthew Calkins, Chairman and Chief Executive Officer, and Mark Lynch, Interim Chief Financial Officer. After prepared remarks, we'll open the call for questions.
During this call, we may make statements related to our business that are considered forward-looking. These include comments related to our financial results, trends and guidance for the first quarter and full year 2025. The benefits of our platform, industry, and market trends, our go to market and growth strategy, our market opportunity and ability to expand our leadership position, our ability to maintain and upsell existing customers,
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