Revenue: As of FY2025, the actual value is USD 726.94 M, beating the estimate of USD 713.38 M.EPS: As of FY2025, the actual value is USD 0.02.EBIT: As of FY2025, the actual value is USD 27.29 M.<h4>Segment Revenue</h4><ul><li>Total Revenue: Appian Corporation’s total revenue increased by 17.8% from $617.0 million in 2024 to $726.9 million in 2025, and from $545.4 million in 2023 to $617.0 million in 2024 .</li><li>Subscriptions Revenue: Subscriptions revenue grew from $490.6 million in 2024 to $576.5 million in 2025, an increase of $85.9 million. In 2024, it increased from $412.3 million in 2023 to $490.6 million .<ul><li>Cloud Subscriptions Revenue: Cloud subscriptions revenue was $437.4 million in 2025, $368.0 million in 2024, and $304.5 million in 2023. Cloud subscriptions revenue constituted 75.9% of total subscriptions revenue in 2025, 75.0% in 2024, and 73.8% in 2023 .</li><li>License Subscriptions Revenue: License subscriptions revenue increased by $13.7 million in 2025 compared to 2024 .</li><li>Maintenance and Support Revenue: Maintenance and support revenue increased by $2.9 million in 2025 compared to 2024 .</li></ul></li><li>Professional Services Revenue: Professional services revenue increased by $24.0 million (19.0%) from $126.5 million in 2024 to $150.5 million in 2025. In 2024, it decreased from $133.0 million in 2023 to $126.5 million .</li><li>Geographic Revenue: Revenue from customers outside the United States was 37.6% of total revenue in 2025, 36.6% in 2024, and 35.8% in 2023. Domestic revenue was $453.7 million in 2025, $391.0 million in 2024, and $350.2 million in 2023. International revenue was $273.2 million in 2025, $226.0 million in 2024, and $195.2 million in 2023 .</li><li>Key Industry Verticals: In 2025, approximately 80% of subscriptions revenue was generated from customers in financial services, government, life sciences, insurance, and manufacturing verticals .</li><li>U.S. Federal Government Agencies Revenue: Revenue from U.S. federal government agencies accounted for 25.3% of total revenue in 2025, 23.9% in 2024, and 21.3% in 2023. The top three U.S. federal government customers generated 3.9% of total revenue in 2025, 4.0% in 2024, and 4.2% in 2023 .</li></ul><h4>Operational Metrics</h4><ul><li>Net Income (Loss): Appian Corporation reported a net income of $1.2 million in 2025, a significant improvement from net losses of -$92.3 million in 2024 and -$111.4 million in 2023 .</li><li>Operating Income (Loss): Operating income was $0.6 million in 2025, compared to operating losses of -$60.9 million in 2024 and -$108.0 million in 2023 .</li><li>Gross Profit: Total gross profit was $527.3 million in 2025, up from $448.8 million in 2024 and $385.0 million in 2023 .<ul><li>Subscriptions Gross Profit: Subscriptions gross profit increased from $424.9 million in 2024 to $492.5 million in 2025 .</li><li>Professional Services Gross Profit: Professional services gross profit increased from $23.9 million in 2024 to $34.9 million in 2025 .</li></ul></li><li>Gross Margin: Total gross margin was 72.5% in 2025, 72.7% in 2024, and 70.6% in 2023 .<ul><li>Subscriptions Gross Margin: Subscriptions gross margin was 85.4% in 2025, a decrease from 86.6% in 2024 .</li><li>Professional Services Gross Margin: Professional services gross margin was 23.2% in 2025, an increase from 18.9% in 2024 .</li></ul></li><li>Operating Expenses: Total operating expenses increased by 3.4% from $509.6 million in 2024 to $526.7 million in 2025 .<ul><li>Sales and Marketing Expense: Sales and marketing expense increased by 1.1% from $238.5 million in 2024 to $241.2 million in 2025. As a percentage of revenue, it decreased from 38.6% in 2024 to 33.2% in 2025 .</li><li>Research and Development Expense: Research and development expense increased by 5.4% from $163.4 million in 2024 to $172.2 million in 2025. As a percentage of revenue, it decreased from 26.5% in 2024 to 23.7% in 2025 .</li><li>General and Administrative Expense: General and administrative expense increased by 5.2% from $107.8 million in 2024 to $113.4 million in 2025. As a percentage of revenue, it decreased from 17.5% in 2024 to 15.6% in 2025 .</li></ul></li><li>Other Non-Operating (Income) Expense: Other non-operating income, net was $26.7 million in 2025, compared to other non-operating expense, net of -$6.8 million in 2024 .</li><li>Interest Expense: Interest expense decreased by -$2.7 million (11.6%) from $23.6 million in 2024 to $20.9 million in 2025 .</li><li>Income Tax Expense: Income tax expense increased by $4.2 million in 2025 to $5.2 million, compared to $1.1 million in 2024 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Net cash provided by operating activities was $62.9 million in 2025, a substantial increase from $6.9 million in 2024. In 2023, net cash used by operating activities was -$110.4 million .</li><li>Net Cash Used by Investing Activities: Net cash used by investing activities was -$12.8 million in 2025, an improvement from -$35.4 million in 2024 .</li><li>Net Cash Used by Financing Activities: Net cash used by financing activities was -$36.3 million in 2025, a change from -$0.3 million in 2024 .</li></ul><h4>Unique Metrics</h4><ul><li>Cloud Net ARR Expansion: Cloud net ARR expansion was 114% in 2025, 113% in 2024, and 116% in 2023 .</li><li>Customers with over $1 million ARR: The number of customers paying in excess of $1 million of annual recurring revenue grew from 115 at the end of 2024 to 140 at the end of 2025 .</li><li>Backlog: As of December 31, 2025, the backlog of non-cancellable future amounts to be recognized under cloud and license subscription agreements was $661.8 million, up from $546.0 million in 2024. Approximately 33% of the 2025 backlog is expected to be recognized in 2026 .</li><li>Employee Headcount: As of December 31, 2025, Appian Corporation had a total global workforce of 2,149 employees, with 1,383 based in the United States .</li></ul><h4>Outlook / Guidance</h4>Appian Corporation expects operating expenses to continue increasing in absolute dollars, though at a more measured rate than in prior years, as it invests in product enhancement and business growth . The company plans to continue investing in its professional services group and strategic partnerships to drive platform adoption . Future funding sources are anticipated to primarily come from cash generated by sales of subscriptions and related professional services, with potential additional funding from debt financing or public offerings .

Appian | 10-K: FY2025 Revenue Beats Estimate at USD 726.94 M