Appian Corp
APPN Nasdaq Services-Prepackaged Software Financials FY2016โFY2025
Last close ยท Oct 23, 2026
$52.35
2.3%What Appian Corp does
No business description yet.
- Legal name
- APPIAN CORP
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Feb 19, 2026
- Accession ยท CIK
- 0001441683-26-000013
0001441683
Revenue and margins
Appian Corp had $727M of revenue in fiscal 2025, up 17.8% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $59.6M in fiscal 2025, 8.2% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Appian Corp returned $20.0M to shareholders in fiscal 2025, 34% of free cash flow. The diluted share count rose 2.3%.
Balance sheet
Cash, debt and the ratios that show how comfortably Appian Corp can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $156M | $196M | $159M | $160M | $187M |
| Debt incl. finance leases | $0.0M | $118M | $207M | $250M | $241M |
| Net debt / EBITDA | โ | โ | โ | โ | 5.2x |
| Debt / equity | 0.0x | 0.8x | 3.9x | โ | โ |
| Interest coverage | โ | โ86.7x | โ6.0x | โ2.6x | 0.0x |
| Current ratio | 1.6x | 1.6x | 1.1x | 1.2x | 1.1x |
| Quick ratio | 1.6x | 1.6x | 1.1x | 1.2x | 1.1x |
| Total assets | $505M | $594M | $628M | $621M | $691M |
| Total liabilities | $271M | $449M | $575M | $654M | $738M |
| Shareholders' equity | $234M | $146M | $52.3M | โ$32.6M | โ$47.0M |
| Net debt (โ = net cash) | โ$156M | โ$77.9M | $47.6M | $90.6M | $53.6M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 4 / 9 | 2 / 8 | 4 / 8 | 3 / 8 | 3 / 8 | 2 / 9 | 3 / 9 | 7 / 9 | 6 / 9 |
| Accruals ratio | โ4.6% | โ16.6% | โ9.2% | โ13.8% | โ5.9% | โ6.8% | โ8.1% | โ0.2% | โ15.9% | โ9.4% |
| Altman Z'' | โ2.61 | โ0.82 | โ0.62 | 2.12 | 2.55 | โ0.28 | โ1.86 | โ3.31 | โ3.07 | โ2.30 |
10 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $133M | $177M | $227M | $260M | $305M | $369M | $468M | $545M | $617M | $727M |
| Gross profit | $82.8M | $112M | $142M | $167M | $216M | $265M | $335M | $385M | $449M | $527M |
| Research and development | $23.0M | $34.8M | $44.7M | $58.0M | $70.2M | $97.5M | $139M | $160M | $163M | $172M |
| Operating income | โ$11.4M | โ$31.8M | โ$46.7M | โ$50.5M | โ$37.9M | โ$83.9M | โ$145M | โ$108M | โ$60.9M | $0.6M |
| Interest expense | โ | โ | โ | โ | โ | โ | $1.7M | $17.9M | $23.6M | $20.9M |
| Pretax income | โ$14.1M | โ$30.2M | โ$49.2M | โ$49.9M | โ$32.6M | โ$87.9M | โ$150M | โ$108M | โ$91.2M | $6.4M |
| Income tax | โ$1.7M | $0.8M | $0.2M | $0.8M | $0.9M | $0.8M | $0.7M | $3.2M | $1.1M | $5.2M |
| Net income | โ$12.5M | โ$31.0M | โ$49.5M | โ$50.7M | โ$33.5M | โ$88.6M | โ$151M | โ$111M | โ$92.3M | $1.2M |
| Net income to common | โ$13.3M | โ$31.4M | โ$49.5M | โ$50.7M | โ | โ | โ | โ | โ | โ |
| Diluted EPS | โ$0.39 | โ$0.63 | โ$0.80 | โ$0.77 | โ$0.48 | โ$1.25 | โ$2.08 | โ$1.52 | โ$1.26 | $0.02 |
| Diluted shares | 0.03B | 0.05B | 0.06B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | โ$7.8M | โ$9.1M | โ$31.3M | โ$8.9M | โ$7.6M | โ$53.9M | โ$107M | โ$110M | $6.9M | $62.9M |
| Capital expenditure | $1.0M | $0.4M | $7.0M | $32.4M | $1.3M | $6.1M | $9.1M | $9.6M | $3.8M | $3.3M |
| Free cash flow | โ$8.7M | โ$9.6M | โ$38.3M | โ$41.3M | โ$8.9M | โ$60.0M | โ$116M | โ$120M | $3.1M | $59.6M |
| Depreciation and amortization | $0.8M | $0.9M | $2.0M | $4.7M | $5.4M | $4.9M | $5.8M | $8.0M | $10.0M | $9.7M |
| Stock-based compensation | $0.0M | $13.0M | $16.1M | $16.4M | $15.3M | $23.8M | $38.8M | $43.4M | $39.0M | $41.5M |
| Acquisitions | โ | โ | $0.0M | $0.0M | $6.1M | $30.7M | $0.0M | $0.0M | โ | โ |
| Share buybacks | โ | โ | โ | โ | โ | โ | $0.0M | $0.0M | $50.0M | $20.0M |
| Dividends and buybacks | โ | โ | โ | โ | โ | โ | $0.0M | $0.0M | $50.0M | $20.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $31.1M | $73.8M | $94.9M | $160M | $222M | $156M | $196M | $159M | $160M | $187M |
| Total debt | $20.0M | $0.0M | โ | โ | โ | $0.0M | $118M | $207M | $250M | $241M |
| Finance lease liabilities | โ | โ | โ | $3.8M | $0.0M | โ | โ | โ | โ | โ |
| Current assets | $88.4M | $145M | $210M | $278M | $365M | $338M | $422M | $414M | $436M | $519M |
| Current liabilities | $76.0M | $95.1M | $128M | $112M | $156M | $216M | $270M | $371M | $355M | $452M |
| Property and equipment, net | $3.1M | $2.7M | $7.5M | $39.6M | โ | โ | โ | โ | โ | โ |
| Goodwill | โ | โ | โ | $0.0M | $4.9M | $27.8M | $26.3M | $27.1M | $25.6M | $28.8M |
| Intangible assets | โ | โ | โ | $0.0M | $1.7M | $7.1M | $5.3M | $3.9M | $2.2M | $1.2M |
| Total assets | $103M | $161M | $233M | $371M | $513M | $505M | $594M | $628M | $621M | $691M |
| Total liabilities | $111M | $116M | $160M | $166M | $216M | $271M | $449M | $575M | $654M | $738M |
| Shareholders' equity | โ$63.5M | $45.5M | $73.2M | $205M | $297M | $234M | $146M | $52.3M | โ$32.6M | โ$47.0M |
| Margins | ||||||||||
| Gross margin | 62.3% | 63.5% | 62.5% | 64.0% | 70.9% | 71.8% | 71.5% | 70.6% | 72.7% | 72.5% |
| Operating margin | โ8.6% | โ18.0% | โ20.6% | โ19.4% | โ12.4% | โ22.7% | โ31.0% | โ19.8% | โ9.9% | 0.1% |
| EBITDA margin | โ8.0% | โ17.5% | โ19.7% | โ17.6% | โ10.7% | โ21.4% | โ29.7% | โ18.3% | โ8.2% | 1.4% |
| Net margin | โ9.4% | โ17.5% | โ21.8% | โ19.5% | โ11.0% | โ24.0% | โ32.2% | โ20.4% | โ15.0% | 0.2% |
| FCF margin | โ6.6% | โ5.4% | โ16.9% | โ15.9% | โ2.9% | โ16.2% | โ24.7% | โ22.0% | 0.5% | 8.2% |
| Returns | ||||||||||
| Return on capital | โ | โ | โ | โ | โ | โ85.0% | โ168.9% | โ85.4% | โ83.0% | 6.0% |
| Return on capital employed | โ42.6% | โ48.2% | โ44.6% | โ19.5% | โ10.6% | โ29.1% | โ44.8% | โ42.1% | โ22.9% | 0.3% |
| Return on equity | โ | โ | โ83.3% | โ36.4% | โ13.3% | โ33.4% | โ79.5% | โ112.5% | โ936.6% | โ |
| Return on assets | โ12.1% | โ23.5% | โ25.1% | โ16.8% | โ7.6% | โ17.4% | โ27.5% | โ18.2% | โ14.8% | 0.2% |
| Return on tangible equity | โ | โ68.9% | โ67.6% | โ24.7% | โ11.5% | โ44.5% | โ132.3% | โ522.1% | โ | โ |
| Growth | ||||||||||
| Revenue growth | โ | 33.0% | 28.3% | 14.8% | 17.0% | 21.2% | 26.7% | 16.5% | 13.1% | 17.8% |
| FCF growth | โ | โ | โ | โ | โ | โ | โ | โ | โ | 1,833.6% |
| Share count change | โ | 44.5% | 25.5% | 5.4% | 5.5% | 2.9% | 2.0% | 0.9% | โ0.2% | 2.3% |
| Financial health | ||||||||||
| Net debt / EBITDA | โ | โ | โ | โ | โ | โ | โ | โ | โ | 5.2x |
| Debt / equity | โ | 0.0x | โ | โ | โ | 0.0x | 0.8x | 3.9x | โ | โ |
| Interest coverage | โ | โ | โ | โ | โ | โ | โ86.7x | โ6.0x | โ2.6x | 0.0x |
| Current ratio | 1.2x | 1.5x | 1.6x | 2.5x | 2.3x | 1.6x | 1.6x | 1.1x | 1.2x | 1.1x |
| Quick ratio | 1.2x | 1.5x | 1.6x | 2.5x | 2.3x | 1.6x | 1.6x | 1.1x | 1.2x | 1.1x |
| Capital allocation | ||||||||||
| Capex / revenue | 0.7% | 0.2% | 3.1% | 12.5% | 0.4% | 1.6% | 1.9% | 1.8% | 0.6% | 0.5% |
| Stock comp / revenue | 0.0% | 7.3% | 7.1% | 6.3% | 5.0% | 6.5% | 8.3% | 8.0% | 6.3% | 5.7% |
| Payouts / FCF | โ | โ | โ | โ | โ | โ | โ | โ | 1,624.0% | 33.6% |
| Quality scores | ||||||||||
| Piotroski F-score | โ | 4.0 | 2.0 | 4.0 | 3.0 | 3.0 | 2.0 | 3.0 | 7.0 | 6.0 |
| Altman Z'' | โ2.6 | โ0.8 | โ0.6 | 2.1 | 2.6 | โ0.3 | โ1.9 | โ3.3 | โ3.1 | โ2.3 |
| Accruals ratio | โ4.6% | โ16.6% | โ9.2% | โ13.8% | โ5.9% | โ6.8% | โ8.1% | โ0.2% | โ15.9% | โ9.4% |
Source: SEC EDGAR XBRL filings (CIK 0001441683). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.
