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Appian cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$20.0M in Q3 2026 · $38.7M over twelve months

Operating cash flow−$15.4M
Capital spending−$4.6M
Free cash flow−$20.0M
Cash / net income-1.2×
Cash conversion cycle68 days

Analysis

In Q3 2026, Appian generated −$15.4M of operating cash flow and spent $4.6M on capital projects, leaving free cash flow of −$20.0M. That is $38.1M less than in Q3 2025 ($18.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $46.6M; the largest uses were buybacks ($83.0M), net borrowing (+) / repaid (−) ($46.6M), taxes on employees’ shares ($11.4M); besides operations, cash came from other investing ($24.9M), shares issued ($1.8M); the cash balance fell by $77.9M.

Operating cash flow was −$15.4M against net income of $12.3M — -1.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$75.2M, deferred revenue +$24.9M, stock-based pay +$12.6M.

Its cash conversion cycle was 68 days (receivables 81 + inventory 0 − payables 14).

Free cash flow

Appian: free cash flow by quarterAppian: free cash flow by quarter$13.4MQ4 2024$44.3MQ1 2025−$3.1MQ2 2025$18.1MQ3 2025$270KQ4 2025$48.6MQ1 2026$9.8MQ2 2026−$20.0MQ3 2026
Operating cash flow less capital spending.
Appian: operating cash flow against capital spendingAppian: operating cash flow against capital spendingOperating cash flowCapital spending$13.9M$511KQ4 2024$45.0M$651KQ1 2025−$1.9M$1.1MQ2 2025$18.7M$654KQ3 2025$1.1M$867KQ4 2025$48.8M$188KQ1 2026$12.1M$2.3MQ2 2026−$15.4M$4.6MQ3 2026
Latest (Q3 2026): Operating cash flow −$15.4M, Capital spending $4.6M.

Capital allocation, year by year

Appian: where the cash came from (up) and went (down), by fiscal yearAppian: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$53.9MFY2021: Shares issued $2.8MFY2021: Capital spending −$6.1MFY2021: Acquisitions −$30.7M$2.8MFY2021FY2022: Operating cash flow −$107MFY2022: Net borrowing $119MFY2022: Shares issued $25.4MFY2022: Capital spending −$9.1M$145MFY2022FY2023: Operating cash flow −$110MFY2023: Net borrowing $88.4MFY2023: Shares issued $752KFY2023: Capital spending −$9.6M$89.2MFY2023FY2024: Operating cash flow $6.9MFY2024: Net borrowing $43.8MFY2024: Shares issued $14.5MFY2024: Capital spending −$3.8MFY2024: Buybacks −$50.0M$65.1MFY2024FY2025: Operating cash flow $62.9MFY2025: Net borrowing −$10.0MFY2025: Shares issued $1.1MFY2025: Capital spending −$3.3MFY2025: Buybacks −$20.0M$64.0MFY2025
Over these 5 years operating cash flow totalled −$201M; the largest uses were operating cash flow ($271M) and buybacks ($70.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$88.9M
Debt$199M
Net debt$111M
Due within a year$10.0M

Appian funds itself: free cash flow was $38.7M over the last twelve months, and $88.9M of cash and investments stands against $199M of debt ($10.0M due within a year, 8.9× covered by cash).

Appian: debt maturities by year (FY2024)Appian: debt maturities by year (FY2024)$10.0MYear 1$10.0MYear 2$232MYear 3
Principal due in each year as disclosed in the annual report, against $88.9M of cash and investments now.

Where the cash came from and went

Appian: sources (+) and uses (−) of cash, Q3 2026Appian: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)−$237MOther financing$198MCash drawn (+) / kept (−)$73.8MBuybacks−$17.3MOperating cash flow−$15.4MOther investing$5.2MCapital spending−$4.6MTaxes on employees’ shares−$3.5MExchange rates−$595KShares issued$544K
Appian: sources (+) and uses (−) of cash, TTM to Q3 2026Appian: sources (+) and uses (−) of cash, 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 profit to cash

Appian: net income to operating cash flow, Q3 2026Appian: net income to operating cash flow, Q3 2026Net income$12.3MDepreciation & amortization$2.9MStock-based pay$12.6MDeferred taxes−$483KReceivables−$75.2MPayables$3.3MDeferred revenue$24.9MPrepaid and other assets−$5.0MOther liabilities$1.2MOperating cash flow−$15.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202681—1468
Q2 202677—968
Q1 202695—987
Q4 202597—1384
Q3 202580—1664
Q2 202577—1462
Q1 202590—1178
Q4 202493—1083

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$15.4M−$4.6M−$17.3M−$237M$544K$73.8M−$20.0M
Q2 2026$12.1M−$2.3M−$43.9M−$2.5M$246K$28.9M$9.8M
Q1 2026$48.8M−$188K−$21.8M−$2.5M$630K−$14.2M$48.6M
Q4 2025$1.1M−$867K—−$5.0M$366K−$10.6M$270K
Q3 2025$18.7M−$654K−$10.0M—$248K−$13.0M$18.1M
Q2 2025−$1.9M−$1.1M−$10.0M−$2.5M$314K$22.8M−$3.1M
Q1 2025$45.0M−$651K—−$2.5M$190K−$16.4M$44.3M
Q4 2024$13.9M−$511K—−$2.5M$13.8M−$19.4M$13.4M

Appian: income statement and cash flow

Appian, Q3 2026: revenue $235M (+26% year over year), operating margin 9.1%. The chart follows the revenue to costs, profit and cash.

Appian: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.