Appian Q3 revenue beats estimates on cloud subscription growth

Overview

• Process automation platform's Q3 revenue grew 25% yr/yr, beating analyst expectations

• Adjusted EPS for Q3 beat analyst expectations

• Company saw strong growth in cloud subscriptions and professional services revenue

Outlook

• Appian sees Q4 cloud subscriptions revenue between $143 mln and $145 mln

• Company expects Q4 total revenue between $233 mln and $237 mln

• Appian expects Q4 adjusted EBITDA between $30 mln and $33 mln

Result Drivers

• CLOUD SUBSCRIPTION GROWTH - Cloud subscriptions revenue rose 20% yr/yr to $136.4 mln, supporting overall revenue growth

• PROFESSIONAL SERVICES DEMAND - Professional services revenue increased 18% yr/yr to $46.9 mln

• EXPANDED RECURRING REVENUE - Cloud net annualized recurring revenue expansion was 120% as of September 30, 2026

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy."

• Wall Street's median 12-month price target for Appian Corp is $40.00, about 19.7% below its November 4 closing price of $49.82

• The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 24 three months ago

Reuters Recommended Reads

• Nov 4 - HubSpot Q3 revenue beats estimates driven by subscription growth

• Nov 4 - Klaviyo's Q3 revenue beats estimates; raises FY outlook

• Nov 3 - Varonis Q3 revenue rises 17%, beats analyst expectations

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)