Appian Q4 Revenue Rises 21.7% to $202.9M; Stock Jumps 15%
Appian’s Q4 CY2025 revenue rose 21.7% year-on-year to $202.9 million, beating analysts by 7.2%, while non-GAAP EPS of $0.15 topped estimates by 91.5%. Management forecast Q1 CY2026 revenue of $191 million at the midpoint—1.5% above consensus—and guided FY2026 EPS at $0.89 and EBITDA at $94 million, both surpassing analyst projections.
1. Q4 CY2025 Results
Appian reported Q4 CY2025 revenue of $202.9 million, up 21.7% year-on-year and 7.2% above estimates, while non-GAAP operating income soared to $67.1 million, yielding a 33.1% margin. Adjusted EPS of $0.15 per share beat forecasts by 91.5%, highlighting robust earnings performance.
2. Q1 and FY2026 Guidance
Management set Q1 CY2026 revenue guidance at $191 million midpoint, 1.5% above analyst projections, with estimated per-share earnings between $0.16 and $0.20. For FY2026, guidance includes $0.89 adjusted EPS at midpoint—15.6% above consensus—and $94 million of EBITDA, surpassing expectations of $86.6 million.
3. Margin and Retention Metrics
Operating margin contracted to -0.3% in Q4 from 3% a year earlier, while free cash flow margin dipped to 0.1% from 9.7% in the prior quarter. The net revenue retention rate improved to 114%, up from 111%, indicating strong expansion within the existing customer base.
4. Market Reaction
The stock surged 15.1% on the earnings release, lifting market capitalization to $1.78 billion. Investors responded to the significant beats in revenue, earnings, and guidance, signaling renewed confidence in Appian’s growth trajectory.