Appian Corp
NASDAQ:APPN
Appian Corp
Appian Corporation, founded in 1999 by Michael Beckley, Robert Kramer, Marc Wilson, and Matthew Calkins, embarked on its journey with a vision to revolutionize how software applications are developed. Headquartered in McLean, Virginia, Appian leverages its low-code platform to simplify and accelerate the application creation process, catering to businesses striving for digital transformation across various industries. The company's software is designed to empower line-of-business employees, allowing them to construct applications with minimal hand-coding, thereby reducing development time and cost. This approach enables organizations to swiftly adapt to market changes and enhances operational efficiency by automating workflows, integrating disparate systems, and improving customer engagement.
Appian's business model is fundamentally rooted in its subscription-based offerings. Companies pay for the privilege of accessing its low-code platform, where they can develop tailored solutions that address their unique operational needs. Additionally, Appian supplements its subscription revenue with professional services, assisting clients in deploying and utilizing its platform effectively. By consistently enhancing its suite of services, Appian not only fosters long-term client relationships but also ensures a recurring revenue stream, positioning itself as a pivotal player in the evolving landscape of enterprise software and digital automation.
Appian Corporation, founded in 1999 by Michael Beckley, Robert Kramer, Marc Wilson, and Matthew Calkins, embarked on its journey with a vision to revolutionize how software applications are developed. Headquartered in McLean, Virginia, Appian leverages its low-code platform to simplify and accelerate the application creation process, catering to businesses striving for digital transformation across various industries. The company's software is designed to empower line-of-business employees, allowing them to construct applications with minimal hand-coding, thereby reducing development time and cost. This approach enables organizations to swiftly adapt to market changes and enhances operational efficiency by automating workflows, integrating disparate systems, and improving customer engagement.
Appian's business model is fundamentally rooted in its subscription-based offerings. Companies pay for the privilege of accessing its low-code platform, where they can develop tailored solutions that address their unique operational needs. Additionally, Appian supplements its subscription revenue with professional services, assisting clients in deploying and utilizing its platform effectively. By consistently enhancing its suite of services, Appian not only fosters long-term client relationships but also ensures a recurring revenue stream, positioning itself as a pivotal player in the evolving landscape of enterprise software and digital automation.
Revenue Growth: Appian delivered strong revenue growth in Q4 2025, with total revenue up 22% year-over-year to $202.9 million, and cloud subscription revenue up 18% to $117 million.
AI Momentum: The company saw significant traction from AI features, with AI usage on the platform increasing 14x year-over-year and driving both large customer deals and upsells to higher-priced tiers.
Profitability & Efficiency: Appian reported $19.7 million in adjusted EBITDA for Q4, outperforming guidance, and achieved a full-year adjusted EBITDA margin of 11%, a major turnaround from negative 8% two years ago.
Strong Government & Enterprise Wins: Major deals included a $500 million, 10-year enterprise agreement with the U.S. Army and growth in customers spending over $1 million annually, which rose 50% to 140 large customers.
2026 Outlook: Guidance for 2026 includes 16% growth in cloud subscription revenue at the midpoint ($502–510 million), total revenue of $801–817 million (up 11%), and further margin expansion. Q1 2026 guidance includes 20% cloud revenue growth and $19–22 million in adjusted EBITDA.
