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Stock News in Focus: Appian (NASDAQ:APPN)

On Thursday Appian (NASDAQ:APPN) stock dipped -1.33% and closed at 44.64. The stock opened the session at $45.09 and touched its highest price point at $45.31. Its recent trading capacity is 843971 shares versus to its average trading volume of 591035 shares. The company’s stock’s lowest price point for the session stood at $42.18. APPN traded as low as $ 24.03 in the past 52 weeks, and shares hit its peak level to $62.94.

On Oct. 31, 2019, Appian (NASDAQ:APPN) released financial results for the third quarter ended September 30, 2019.

We exceeded our guidance once again this quarter. Our ease-of-use and speed continue to differentiate us in sales cycles, allowing us to sell into new organizations and expand within our existing customers, said Matt Calkins, CEO & Founder.

 Third Quarter 2019 Financial Highlights:

  • Revenue: Subscription revenue was $40.4 million for the third quarter of 2019, up 38% compared to the third quarter of 2018. Total subscriptions, software and support revenue was $41.6 million for the third quarter of 2019, an increase of 35% year-over-year.  Professional services revenue was $27.8 million for the third quarter of 2019, an increase of 16% year-over-year. Total revenue was $69.4 million for the third quarter of 2019, up 26% compared to the third quarter of 2018. Subscription revenue retention rate was 119% as of September 30, 2019.
  • Operating loss and non-GAAP operating loss: GAAP operating loss was $(10.3) million for the third quarter of 2019, compared to $(14.9) million for the third quarter of 2018.  Non-GAAP operating loss was $(7.2) million for the third quarter of 2019, compared to $(8.1) million for the third quarter of 2018.
  • Net loss and non-GAAP net loss: GAAP net loss was $(12.4) million for the third quarter of 2019, compared to $(15.0) million for the third quarter of 2018. GAAP net loss per share attributable to common stockholders was $(0.19) for the third quarter of 2019 based on 65.5 million weighted average shares outstanding, compared to $(0.24) for the third quarter of 2018 based on 62.5 million weighted average shares outstanding. Non-GAAP net loss was $(9.3) million for the third quarter of 2019, compared to $(8.2) million for the third quarter of 2018. Non-GAAP net loss per share was $(0.14) for the third quarter of 2019, based on 65.5 million basic and diluted weighted average shares outstanding, compared to $(0.13) for the third quarter of 2018, based on 62.5 million basic and diluted weighted average shares outstanding.

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