Appian: 2Q Earnings Snapshot
RESTON, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $9.4 million in its second quarter.
The Reston, Virginia-based company said it had a loss of 15 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 10 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The business process management software provider posted revenue of $66.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $63.3 million.
For the current quarter ending in October, Appian expects its results to range from a loss of 16 cents per share to a loss of 15 cents per share.
The company said it expects revenue in the range of $65 million to $65.5 million for the fiscal third quarter.
Appian expects full-year results to range from a loss of 55 cents per share to a loss of 51 cents per share, with revenue ranging from $260.5 million to $262.5 million.
Appian shares have risen 62% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.24, a rise of 27% in the last 12 months.