Appian Corporation reported a revenue increase of 13.1% for the fiscal year ending December 31, 2024, reaching $617.0 million, compared to $545.4 million in 2023. The growth was primarily driven by a 19.0% rise in subscription revenue, which totaled $490.6 million, up from $412.3 million the previous year. However, the company experienced a decline in professional services revenue, which fell to $126.5 million from $133.0 million in 2023. Despite the revenue growth, Appian reported a net loss of $92.3 million, an improvement from the $111.4 million loss in 2023.
The company has made significant strides in expanding its customer base, ending 2024 with over 1,000 customers, including a notable increase in high-value clients. The number of customers generating more than $1 million in annual recurring revenue rose from 110 to 126. Appian's cloud subscriptions revenue, a key growth area, increased to $368.0 million, reflecting a strong demand for its platform. The company also reported a cloud subscriptions revenue retention rate of 116%, indicating effective customer engagement and satisfaction.
Strategically, Appian has focused on enhancing its platform capabilities, integrating advanced technologies such as artificial intelligence and low-code development tools. The company has also expanded its international presence, with 36.6% of total revenue generated from customers outside the United States. Appian's workforce decreased to 2,033 employees by the end of 2024, down from 2,257 in 2023, as part of a restructuring effort to streamline operations and improve efficiency.
Looking ahead, Appian aims to balance growth with profitability, planning targeted investments in key areas while managing costs. The company anticipates continued revenue growth driven by increased adoption of its platform and expansion into new markets. However, it acknowledges potential challenges, including competition in the rapidly evolving software landscape and the need to maintain customer satisfaction amid ongoing economic uncertainties. The company remains committed to leveraging its strategic partnerships and enhancing its product offerings to drive future success.
About APPIAN CORP
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