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Appian (APPN) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Appian (APPN) Q3 2026 earnings results →

Q3 2026 Revenue up 26% year over year to $235M · 5¢ of every $1 of revenue kept as net profit · operating margin 9.1%

Appian made $235M in Q3 2026 (+26% Y/Y): Subscriptions $188M, Professional services $46.9M. Operating margin 9.1%, net earnings $12.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$235M
Year over year+26%
Operating margin9.1%
Net earnings$12.3M
Operating cash flow−$15.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $234.6M in Q3 2026, up 25% year over year and up 15% from the previous quarter. Cloud subscriptions was the largest line at 58% of revenue. Cloud subscriptions added $22.8M year over year (up 20%), 48% of the total change.

Gross margin was 72.9%, up 0.1 points from a year earlier. Operating profit was $21.3M, a 9.1% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, above the 7% margin then. Operating expenses grew 22% against revenue growth of 25%. The fastest-growing cost line was General & admin (+24%). Net earnings were $12.3M, up 58% year over year. The effective tax rate was 6.3%.

Operating cash flow was −$15.4M. Non-cash charges added back $2.9M of depreciation and amortization and $12.6M of share-based compensation. Working capital and other items used $43.2M. Capital expenditures of $4.6M exceeded it, leaving free cash flow of −$20.0M.

Quarterly history

Appian revenue by quarterAppian revenue by quarter$203MQ2 2026$235MQ3 2026
Appian net earnings by quarterAppian net earnings by quarter−$11.8MQ2 2026$12.3MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$235M+26%9.1%$12.3M−$15.4M
Q2 202610-QAug 6, 2026$203M+19%-2.7%−$11.8M$12.1M

Charts

Appian: where the cash came from (+) and went (−), TTM to Q3 2026Appian: where the cash came from (+) and went (−), TTM to Q3 2026Buybacks−$83.0MCash drawn (+) / kept (−)$77.9MOperating cash flow$46.6MNet borrowing (+) / repaid (−)−$46.6MOther investing$24.9MTaxes on employees’ shares−$11.4MCapital spending−$8.0MShares issued$1.8MOther financing−$1.6MExchange rates−$734K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Appian: profit against cash, quarter by quarterAppian: profit against cash, quarter by quarterNet incomeOperating cash flow−$13.6M$13.9MQ4 2024−$1.2M$45.0MQ1 2025−$312K−$1.9MQ2 2025$7.8M$18.7MQ3 2025−$5.1M$1.1MQ4 2025−$1.5M$48.8MQ1 2026−$11.8M$12.1MQ2 2026$12.3M−$15.4MQ3 2026
Latest (Q3 2026): Net income $12.3M, Operating cash flow −$15.4M.
Appian: diluted shares by fiscal yearAppian: diluted shares by fiscal year69MFY202071MFY202172MFY202273MFY202373MFY202475MFY2025
+8.1% since FY2020: more shares outstanding (issuance, stock pay).
Appian: long-term debt falling due (FY2024)Appian: long-term debt falling due (FY2024)$10.0M2025$10.0M2026$232M2027
Cash $119M, short-term investments $41.3M, long-term debt $250M at 2024-12-31.
Appian in its industry: growth against margin (192 companies, SIC 7372)Appian in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYAPPN (+26%, 9%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Appian

Appian Corporation (together with its subsidiaries, “Appian,” “the Company,” “we,” or “our”) provides process automation technology. For over 25 years, our highly reliable and scalable platform has been leveraged by large enterprises and governments. Combining leading edge process orchestration and intelligence, we provide everything an organization needs to design, automate, and optimize critical processes, facilitating continuous adaptation in changing environments. The market for process automation is large and growing. According to IDC, the worldwide Business Automation Platform market was $27.8 billion in 2024 and is expected to grow to approximately $70.2 billion in 2029.

In its own words, from its 10-K, filed Feb 19, 2026.

Appian against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +19%. Operating margin: 9.1% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
APPN AppianQ3 2026$235M+26%9.1%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Appian 10-Q on SEC EDGAR · CIK 1441683 · Services-Prepackaged Software

Guidance and outlook

Appian: what its forward-looking statements are about (10-Q filed 2026-11-05)Appian: what its forward-looking statements are about (10-Q filed 2026-11-05)Demand11Costs2Other2Capital spending1Margins1Financing1
18 statements; tone +0.61 (−1 all cautious, +1 all confident); 1 hedged.
Appian: outlook statements against the filing beforeAppian: outlook statements against the filing beforeConfident11

13F: who owns APPN and who is buying

Largest holders of APPN (13F)Largest holders of APPN (13F)Vanguard Group$216MVanguard Portfolio Management LLC$95.9MBlackRock$82.0MFivespan Partners, LP$80.4MLead Edge Capital Management, LLC$65.9MRPD Fund Management LLC$42.5MVanguard Capital Management LLC$38.4MAQR Capital Management LLC$32.3MFirst Trust Advisors LP$32.1MArrowstreet Capital, Limited Part…$31.7M
Funds' net buying of APPN by quarter (13F)Funds' net buying of APPN by quarter (13F)$38.9M2024-09−$90.6M2024-12$74.5M2025-03$25.9M2025-06$6.5M2025-09−$58.2M2025-12$69.5M2026-03−$11.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on APPN

History

Every quarter: Q3 2026 results · Q2 2026 results

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