APPN on Nasdaq

Appian Corporation

Logo: Appian Corporation, PD, via Wikipedia5

American cloud computing company

Appian Corporation is an enterprise software company that specializes in process automation and AI agent orchestrations. It is headquartered in McLean, Virginia, part of Dulles Technology Corridor. The company sells software to automate complex processes in large enterprises and governments in North America, Europe, the Middle East, South America, Oceania and Southeast Asia.3 Its shares trade on Nasdaq under the symbol APPN.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$726.9MRevenue, fiscal 20256
$1.2MNet income, fiscal 20256
1999Founded1

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  • TickerAPPN on Nasdaq1
  • Industrycloud computing, enterprise software, low code development, low code/no code development, low-code development platform1
  • HeadquartersMcLean1
  • Websitewww.appian.com
  • Business address7950 Jones Branch Drive, Mclean, Va 221027
  • Filer categoryLarge accelerated filer7
  • Legal formCorporation4
  • LEI529900NIARIFW7HGU3864
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressCorporation Trust Center 1209 Orange St, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 30818164

Appian Corporation is an enterprise software company that specializes in process automation and AI agent orchestrations. It is headquartered in McLean, Virginia, part of Dulles Technology Corridor. The company sells software to automate complex processes in large enterprises and governments in North America, Europe, the Middle East, South America, Oceania and Southeast Asia.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

72.5%Gross margin6
0.1%Operating margin6
0.2%Net margin6
17.8%Revenue growth, 20256
$59.6MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Cloud subscriptions brought in 60% of the revenue Appian Corporation broke down this way in fiscal 2025.

  1. Cloud subscriptions$437.4M660%up 19% from 2024
  2. Professional Services$150.5M621%up 19% from 2024
  3. License Subscriptions$105.8M615%up 15% from 2024
  4. Maintenance and Support$33.3M65%up 10% from 2024
Products and services by year
Products and services202320242025
Cloud subscriptions$304.5M$368.0M$437.4M
Professional Services$133.0M$126.5M$150.5M
License Subscriptions$82.3M$92.2M$105.8M
Maintenance and Support$25.6M$30.4M$33.3M

Regions

United States brought in 62% of the revenue Appian Corporation broke down this way in fiscal 2025.

  1. United States$453.7M662%up 16% from 2024
  2. Outside the United States$273.2M638%up 21% from 2024
Regions by year
Regions202320242025
United States$350.2M$391.0M$453.7M
Outside the United States$195.2M$226.0M$273.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue27¢$199.6M
  • Research and development24¢$172.2M
  • Other costs48¢$348.7M
  • Income tax1¢$5.2M
  • Profit0¢$1.2M

Out of $726.9M in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending5¢$3.3M
  • Share buybacks32¢$20.0M
  • Kept or used elsewhere63¢$39.6M

Out of $62.9M of cash from operations.6

Financial statements

Revenue10111213146$726.9M in 2025+221% since 2018
0$200.0M$400.0M$600.0M$800.0M2018: $226.7M$226.7M20182019: $260.4M$260.4M2019+15%2020: $304.6M$304.6M2020+17%2021: $369.3M$369.3M2021+21%2022: $468.0M$468.0M2022+27%2023: $545.4M$545.4M2023+17%2024: $617.0M$617.0M2024+13%2025: $726.9M$726.9M2025+18%
Gross profit10111213146$527.3M in 2025+272% since 2018
0$200.0M$400.0M$600.0M2018: $141.8M$141.8M20182019: $166.5M$166.5M2019+17%2020: $215.8M$215.8M2020+30%2021: $265.2M$265.2M2021+23%2022: $334.7M$334.7M2022+26%2023: $385.0M$385.0M2023+15%2024: $448.8M$448.8M2024+17%2025: $527.3M$527.3M2025+18%
Operating income10111213146$609.0K in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2018: -$46.7M-$46.7M20182019: -$50.5M-$50.5M2019+8%2020: -$37.9M-$37.9M2020−25%2021: -$83.9M-$83.9M2021+121%2022: -$145.0M-$145.0M2022+73%2023: -$108.0M-$108.0M2023−26%2024: -$60.9M-$60.9M2024−44%2025: $609.0K$609.0K2025
Net income10111213146$1.2M in 2025
-$200.0M-$150.0M-$100.0M-$50.0M0$50.0M2018: -$49.5M-$49.5M20182019: -$50.7M-$50.7M2019+3%2020: -$33.5M-$33.5M2020−34%2021: -$88.6M-$88.6M2021+165%2022: -$150.9M-$150.9M2022+70%2023: -$111.4M-$111.4M2023−26%2024: -$92.3M-$92.3M2024−17%2025: $1.2M$1.2M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Total revenue$726.9M$617.0M$545.4M
Total cost of revenue$199.6M$168.2M$160.3M
Gross profit$527.3M$448.8M$385.0M
Sales and marketing$241.2M$238.5M$250.0M
Research and development$172.2M$163.4M$160.4M
General and administrative$113.4M$107.8M$82.6M
Total operating expenses$526.7M$509.6M$493.0M
Operating income (loss)$609.0K-$60.9M-$108.0M
Other (income) expense, net-$26.7M$6.8M-$17.6M
Interest expense$20.9M$23.6M$17.9M
Total other non-operating (income) expense-$5.8M$30.4M$259.0K
Income (loss) before income taxes$6.4M-$91.2M-$108.2M
Income tax expense$5.2M$1.1M$3.2M
Net income (loss)$1.2M-$92.3M-$111.4M
Basic (in usd per share)$0.02-$1.26-$1.52
Diluted (in usd per share)$0.02-$1.26-$1.52
Basic (in shares)74.0M shares73.0M shares73.1M shares
Diluted (in shares)74.6M shares73.0M shares73.1M shares

Compare Appian Corporation with another company

Corporate structure

Appian Corporation sits at the top of its group. 19 entities, 16 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Appian Corporation

  • Appian Corporation Reston, Virginia, United States
    • APPIAN CANADA CORPORATION Subsidiary · Toronto, Ontario, Canada
    • APPIAN COMPUTER TECHNOLOGIES INDIA PRIVATE LIMITED Subsidiary · Saidapet, India
    • APPIAN EUROPE LIMITED Subsidiary · London, United Kingdom
    • APPIAN FRANCE SARL Subsidiary · Boulogne-Billancourt, France
    • Appian Japan GK Subsidiary · Japan
    • Appian Japan 合同会社 Subsidiary · 東京都, Japan
    • APPIAN MEXICO SOFTWARE S DE RL DE CV Subsidiary · Miguel Hidalgo, Mexico
    • Appian Mexico Software SRL de C.V. Subsidiary · Mexico
    • Appian Netherlands B.V. Subsidiary · Amsterdam, Netherlands
    • APPIAN PORTUGAL, UNIPESSOAL LDA Subsidiary · Lisboa, Portugal
    • APPIAN SINGAPORE PTE. LTD. Subsidiary · Singapore, Singapore
    • APPIAN SOFTWARE AUSTRALIA PTY LIMITED Subsidiary · Gold Coast, Australia
    • Appian Software Germany GmbH Subsidiary · Berlin, Germany
    • Appian Software International GmbH Subsidiary · Zug, Switzerland
    • APPIAN SOFTWARE ITALY S.R.L. Subsidiary · Milano, Italy
    • APPIAN SPAIN S.L. Subsidiary · Barcelona, Spain
    • Appian Spain SL Subsidiary · Spain
    • Appian Sweden AB Subsidiary · Stockholm, Sweden

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Appian Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$28.1M6 Dec 31, 2025$31.1M6 Dec 31, 2024−9.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$135.8M6 Dec 31, 2025$118.6M6 Dec 31, 2024+14.6%
Marketable securities, current$51.4M6 Dec 31, 2025$41.3M6 Dec 31, 2024+24.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$28.8M6 Dec 31, 2025$25.6M6 Dec 31, 2024+12.7%
Intangible assets, net (excluding goodwill)$1.2M6 Dec 31, 2025$2.2M6 Dec 31, 2024−44.4%
Finite-lived intangibles, gross$8.5M6 Dec 31, 2025$7.6M6 Dec 31, 2024+12.7%
Accumulated amortization$7.3M6 Dec 31, 2025$5.3M6 Dec 31, 2024+36.7%
Finite-lived intangibles, net$1.2M6 Dec 31, 2025$2.2M6 Dec 31, 2024−44.4%

Properties, in its own words

As of December 31, 2025, our corporate headquarters occupies approximately 300,000 square feet in McLean, Virginia under an operating lease that expires in October 2031. Approximately 32,000 square feet of headquarters space is subleased. We also lease space in Australia, Italy, India, Spain, and the United Kingdom under operating lease agreements with various expiration dates through 2030. In addition, we utilize flexible workspaces depending on the occupancy needs in each of the countries we operate in. We believe our facilities are suitable and adequate to meet our needs.

Item 2 of the 10-K filed Feb 19, 2026.20

The story

Founding and early growth: 1999–2013

Appian was founded in 1999 by Michael Beckley, Robert Kramer, Marc Wilson and Matthew Calkins, who is CEO.

In 2001, the company developed Army Knowledge Online, regarded at the time as "the world's largest intranet."

In 2008, the company completed a $10,000,000 Series A funding by Novak Biddle Venture Partners. In 2010, Appian Cloud was accredited with Federal Information Security Management Act (FISMA) low-level security by the U.S. Education Department. In 2013, it received FISMA Moderate Authorization and Accreditation from the General Services Administration (GSA).

Secondary investments and Nasdaq: 2014–2017

In 2014, the company received $37.5 million in secondary investments from New Enterprise Associates, which was paid out to shareholders.

On May 25, 2017, Appian became a publicly traded company, trading as APPN on the NASDAQ Global Exchange.

Process mining and artificial intelligence: 2018–present

In May 2019, Appian released Appian AI. In March 2020, the company updated the platform's artificial intelligence and robotic process automation capabilities.

In 2020, Appian Cloud was certified as compliant with the Payment Card Industry (PCI) Data Security Standards (SS) maintained by the Payment Card Industry Security Standards Council. Also in 2020, Appian RPA achieved authorization from the Federal Risk and Authorization Management Program (FedRAMP) as part of Appian Cloud. In 2025, Appian Government Cloud (AGC) obtained Federal Risk and Authorization management Program (FedRAMP) High authorization and renewed its Impact Level 5 (IL5) Provisional Authority to Operate (PA) from the Defense Information Systems Agency (DISA) for a three-year period.

In April 2022, process mining was integrated into all Appian products, including its automation, artificial intelligence, and low-code capabilities.

Read the full text

In May 2022, Appian was awarded $2.04 billion in damages against Pegasystems Inc. Pegasystems was found to have violated the Virginia Computer Crimes Act when it hired a developer to spy on Appian, stealing trade secrets in an operation Pegasystems referred to as "Project Crush". In January 2026, following the decision from the Supreme Court of Virginia remanding the case for retrial and rejecting Pega's arguments seeking to dismiss the case entirely. Appian announced that it would press its trade secret claims against Pegasystems Inc.

In 2025, Appian released AI Document Center (renamed DocCenter in December 2025), which extended the company's intelligent document processing (IDP) capabilities with AI.

From Wikipedia’s article on Appian Corporation, shared under CC BY-SA 4.0.8

Leadership

Who has led Appian Corporation, and when. Pick a name to see everywhere that person has worked.

200020052010201520202025
Board members and other officers (20)

Products and brands

Appian develops software for business process automation, application development, and process orchestration. Its platform is used to build applications and automate workflows that involved human users, software systems, and robotic process automation tools.

The company has expanded the platform over time to include artificial intelligence features, document processing, and tools for building and managing AI agents. In 2025, Appian introduced Agent Studio, a product for development AI agents for us in business processes.

Appian also offers a data fabric intended to connect data from source systems without requiring full migration into a single database. The company says this capability supports both reading from and writing to connected systems.

Following its 2021 acquisition of process mining company Lana Labs, Appian added process mining to its platform. In 2024, it introduced Process HQ, a product that combines process mining, AI, and data integration tools.

Read the full text

Acquisitions

On January 7, 2020, Appian announced acquisition of Novayre Solutions SL, developer of the Jidoka robotic process automation (RPA) platform. In August 2021, Appian acquired the process mining company Lana Labs. The company's applications help companies discover the work patterns being used within their organization by looking through system logs for common actions and sequences.

Analyst recognition

Appian has been recognized by industry analyst firms including Gartner, Forrester, IDC, and Everest Group across categories such as business process automation, digital process automation, and low-code application platforms.

Appian was named a Leader in the 2025 Gartner Magic Quadrant for Business Orchestration and Automation Technologies (BOAT)

Appian was named a Leader in the 2025 Forrester Wave: Digital Process Automation Software, Q3 2025, Q3 2023, and Q3 2021

Appian was named a Leader in the Everest Group PEAK Matrix Assessment for Process Orchestration consecutively from 2022 through 2025

Appian was named a Leader in the Gartner Magic Quadrant for Enterprise Low-Code Application Platforms in 2023, 2024, and 2025

Appian has received the Voice of the Customer for Enterprise Low-Code Application Platforms recognition from Gartner Peer Insights in 2025, 2022

Appian is ranked #1 in Automated Processing Use Cases for IDP by Gartner in the 2025 Gartner Critical Capabilities for Intelligent Document Processing Solutions

From Wikipedia’s article on Appian Corporation, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Appian Canada Corporation Canada9
  • Appian Computer Technologies India Private Ltd India9
  • Appian Europe Ltd. England and Wales9
  • Appian France SARL France9
  • Appian Japan GK Japan9
  • Appian Mexico Software SRL de C.V. Mexico9
  • Appian Netherlands BV Netherlands9
  • Appian Portugal Unipessoal LDA Portugal9
  • Appian Singapore Pte. Ltd. Singapore9
  • Appian Software Australia Pty. Ltd Australia9
  • Appian Software Germany GmbH Germany9
  • Appian Software International GmbH Switzerland (Zug Canton)9
  • Appian Software Italy S.R.L. Italy9
  • Appian Spain SL Spain9
  • Appian Sweden AB Sweden9

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 6, 20268-K Results of operations42
  2. Jun 8, 20268-K Shareholder vote43
  3. May 7, 20268-K Results of operations; Other events44
  4. Feb 19, 20268-K Results of operations; Other events45
  5. Jan 21, 20268-K Executive or director change46
  6. Nov 6, 20258-K Results of operations47
  7. Oct 2, 20258-K Executive or director change48
  8. Aug 29, 20258-K Other events49
  9. Aug 7, 20258-K Results of operations50
  10. Jun 5, 20258-K Shareholder vote51
  11. May 28, 20258-K Other events52
  12. May 8, 20258-K Results of operations53
  13. May 24, 2017New chief executive Matthew W. Calkins becomes CEO21
  14. May 24, 2017Went public Listed on NASDAQ1
  15. 1999Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.19 a share, on Nov 6, 2025.54

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results42
  2. May 7, 2026Reported quarterly or annual results44
  3. Feb 19, 2026Reported quarterly or annual results45
  4. Nov 6, 2025Reported quarterly or annual results47
  5. Aug 7, 2025Reported quarterly or annual results50
  6. May 8, 2025Reported quarterly or annual results53
  7. Feb 19, 2025Reported quarterly or annual results55
  8. Nov 7, 2024Reported quarterly or annual results56

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

459 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 310 insider forms, 54 large holders, 27 other. The latest 20:

  1. Oct 8, 20264 EDGAR
  2. Oct 7, 2026144 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Oct 2, 20264 EDGAR
  8. Sep 11, 20264 EDGAR
  9. Sep 10, 20264 EDGAR
  10. Sep 8, 2026144 EDGAR
  11. Aug 14, 2026SCHEDULE 13G/A EDGAR
  12. Aug 11, 20264 EDGAR
  13. Aug 7, 2026144 EDGAR
  14. Aug 6, 20264 EDGAR
  15. Aug 6, 20264 EDGAR
  16. Aug 6, 202610-Q EDGAR
  17. Aug 6, 20268-K EDGAR
  18. Jul 8, 20264 EDGAR
  19. Jul 7, 2026144 EDGAR
  20. Jul 2, 20264 EDGAR

The 459 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

211 open-market trades by officers, directors and large owners since October 2021: 125 buys and 86 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 8, 2026Calkins Matthew WCEO and PresidentSale45,000$35.19$1.6MForm 4
Aug 7, 2026Calkins Matthew WCEO and PresidentSale45,000$34.46$1.6MForm 4
Jul 7, 2026Calkins Matthew WCEO and PresidentSale50,000$24.72$1.2MForm 4
Jun 8, 2026Calkins Matthew WCEO and PresidentSale50,000$24.13$1.2MForm 4
May 13, 2026Dorsey MarkChief Revenue OfficerBuy5,227$19.13$100.0KForm 4
Mar 3, 2026Lynch Mark StevenDirectorSale9,530$27.00$257.3KForm 4
Aug 8, 2025Abdiel Capital Management, LLC10% ownerSale289,528$29.11$8.4MForm 4
Aug 7, 2025Abdiel Capital Management, LLC10% ownerSale764,995$29.86$22.8MForm 4
Aug 6, 2025Abdiel Capital Management, LLC10% ownerSale3,316$27.88$92.5KForm 4
Jul 29, 2025Abdiel Capital Management, LLC10% ownerSale21,705$29.99$650.9KForm 4
Jul 28, 2025Abdiel Capital Management, LLC10% ownerSale364,764$30.40$11.1MForm 4
Jul 25, 2025Abdiel Capital Management, LLC10% ownerSale250,125$29.73$7.4MForm 4
Jul 24, 2025Abdiel Capital LP10% ownerSale48,213$29.59$1.4MForm 4
Jul 23, 2025Abdiel Capital LP10% ownerSale450,000$29.77$13.4MForm 4
Jul 22, 2025Abdiel Capital LP10% ownerSale78,198$29.37$2.3MForm 4
Jul 21, 2025Abdiel Capital LP10% ownerSale42,697$29.03$1.2MForm 4
Jul 18, 2025Abdiel Capital LP10% ownerSale202,359$28.81$5.8MForm 4
Jul 17, 2025Abdiel Capital LP10% ownerSale45,629$28.51$1.3MForm 4
Jul 16, 2025Abdiel Capital Advisors, LP10% ownerSale125,000$28.81$3.6MForm 4
Jul 14, 2025Abdiel Capital Advisors, LP10% ownerSale6,987$30.12$210.4KForm 4

All 211 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Srdjan TanjgaChief Financial Officer47$448.9K$8.9M69
2025Mark DorseyChief Revenue Officer57$650.0K$3.5M69
2025Matthew CalkinsChief Executive Officer53$1.1M$2.9M69
2025Pavel Zamudio-RamirezChief Customer Officer59$800.0K$1.9M69
2025Mark LynchInterim Chief Financial Officer62$437.5K$1.3M69
2025Robert KramerGeneral Manager51$850.0K$1.2M69
2024Pavel Zamudio-RamirezChief Customer Officer59$800.0K$1.2M69
2024Matthew CalkinsChief Executive Officer53$1.0M$1.2M69
2024Robert KramerGeneral Manager51$850.0K$900.3K69
2024Mark LynchInterim Chief Financial Officer62$162.9K$587.8K69
2023Matthew CalkinsChief Executive Officer53$1.0M$1.2M69
2023Pavel Zamudio-RamirezChief Customer Officer59$800.0K$1.1M69
2023Robert KramerGeneral Manager51$516.7K$566.8K69

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Portfolio Management LLC4,185,786$95.9M0.0%+24,227
BlackRock, Inc.3,580,307$82.0M0.0%+354,220
Fivespan Partners, LP3,510,907$80.4M18.9%No change
Lead Edge Capital Management, LLC2,878,544$65.9M12.0%+972,910
RPD Fund Management LLC1,856,981$42.5M56.2%−2,062,375
Vanguard Capital Management LLC1,674,881$38.4M0.0%−3,399
Aqr Capital Management LLC1,411,062$32.3M0.0%+453,442
First Trust Advisors LP1,401,079$32.1M0.0%+45,118
Arrowstreet Capital, Limited Partnership1,384,665$31.7M0.0%−134,988
State Street Corp1,085,269$24.9M0.0%+61,827
Geode Capital Management, LLC1,059,811$24.3M0.0%+74,312
Mudita Advisors LLP839,400$19.2M4.0%No change
Baillie Gifford & Co735,158$16.8M0.0%−170,750
Jacobs Levy Equity Management, Inc689,825$15.8M0.1%+86,395
Citadel Advisors LLC619,025$14.2M0.0%+101,016
Qube Research & Technologies Ltd538,626$12.3M0.0%+245,889
Morgan Stanley418,899$9.6M0.0%−1,126,964
Fmr LLC417,242$9.6M0.0%+36,545
Trexquant Investment LP396,681$9.1M0.1%+90,738
Squarepoint Ops LLC382,211$8.8M0.0%−8,718
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.366,391$8.4M0.0%+13,369
Northern Trust Corp365,918$8.4M0.0%+21,582
Charles Schwab Investment Management Inc348,101$8.0M0.0%−22,561
Two Sigma Investments, LP335,630$7.7M0.0%+216,564
D. E. Shaw & Co., Inc.332,093$7.6M0.0%−115,695

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Appian Corporation is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAPPIAN CORP2
  • CIK0001441683
  • Employer ID (EIN)54-195608420
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company20
  • Incorporated inDelaware20
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address7950 Jones Branch Drive, Mclean, VA 221022
  • Phone703-442-88442
  • Shares outstanding42,872,259 Common Class A shares; 31,087,485 Common Class B shares as of Feb 17, 202620
  • AuditorBDO USA, P.C., McLean, Virginia PCAOB ID 243; it also attests to the company’s internal control over financial reporting20
  • On EDGAR sinceJul 30, 20082
  • Filings988 in all: 4 (640), 8-K (77), SC 13D/A (44), 3 (35), 10-Q (28), SC 13G/A (28), SC 13G (14), 4/A (13)2
    All 37 form types

    144 (11), DEFA14A (11), SCHEDULE 13D/A (11), 10-K (9), DEF 14A (9), 424B5 (6), SCHEDULE 13G/A (5), ARS (4), CORRESP (4), UPLOAD (4), 5 (3), S-1/A (3), S-8 (3), SCHEDULE 13G (3), 424B4 (2), CT ORDER (2), DRS (2), DRS/A (2), DRSLTR (2), EFFECT (2), S-1 (2), S-3ASR (2), 8-A12B (1), 8-K/A (1), CERTNAS (1), D (1), REGDEX (1), SC 13D (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 19, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 22, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common StockAPPNThe Nasdaq Global Market

From the cover page of the 10-K filed Feb 19, 2026 (Section 12(b) of the Exchange Act).20

Risk factors and legal proceedings

The risks Appian Corporation names in Item 1A of its 10-K filed Feb 19, 2026: 58 risks under these headings, as written.20

  • Risks Related to Our Business and Industry
  • If we are unable to sustain our revenue growth rate, we may not be able to maintain profitability in the future.
  • We may not be able to scale our business quickly enough to meet our customers’ growing needs, and if we are not able to grow efficiently, our operating results could be harmed.
  • We are dependent on a single product, and the lack of continued market acceptance of our platform could cause our operating results to suffer.
  • Our sales cycle is long and unpredictable, particularly with respect to large customers, and our sales efforts require considerable time and expense, all of which may cause our operating results to fluctuate.
  • Market adoption of process automation platforms to drive process automation may not grow as we expect, which may harm our business and prospects.
  • We currently face significant competition.
  • In the past, we have experienced significant corporate growth, which may not be indicative of our future growth and, if we grow in the future, we may not be able to manage our growth effectively.
  • If our security measures are actually or perceived to have been breached, or if unauthorized access to our platform or customer data occurs, our platform may be perceived as not being secure, and customers may reduce the use of or stop using our platform, and we may incur significant liabilities.
  • We derive a significant portion of our revenue from a limited number of customers, and the loss of one or more of these customers could materially and adversely impact our business, results of operations, and financial condition.
  • A portion of our revenue is generated from subscriptions sold to governmental entities and heavily regulated organizations, which are subject to a number of challenges and risks.
  • We have experienced losses in the past, and we may not be able to sustain profitability in the future.
The other 47 risks
  • AI is a disruptive set of technologies that may affect the markets for our software dramatically and in unpredictable ways.
  • Regulatory and legislative developments related to the use of AI could adversely affect our use of such technologies in our products, services, and business.
  • Our future results of operations may fluctuate significantly due to a wide range of factors, which makes our future results difficult to predict.
  • We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which could cause our stock price to decline.
  • We rely on the performance of highly skilled personnel, including senior management and our engineering, professional services, sales, and technology professionals; if we are unable to retain or motivate key personnel or hire, retain, and motivate qualified personnel, our business would be harmed.
  • If we do not continue to innovate and provide a platform that is useful to our customers, we may not remain competitive, and our revenue and operating results could suffer.
  • We may continue to need to change or reduce our pricing model to remain competitive.
  • Our business could be adversely affected if our customers are not satisfied with the deployment services provided by us or our partners.
  • We are substantially dependent upon customer renewals, the addition of new customers, and the continued growth of our subscriptions revenue.
  • Because we generally recognize revenue from cloud subscriptions ratably over the term of the subscription agreement, near-term changes in sales may not be reflected immediately in our operating results.
  • We may not continue to achieve market acceptance of our pre-built solutions, which may adversely impact our financial results.
  • If we are not able to maintain and enhance our brand, our business and operating results may be adversely affected.
  • If our platform fails to perform properly or there are defects or disruptions in the rollout of our platform updates or enhancements, our reputation could be adversely affected, our market share could decline, and we could be subject to liability claims.
  • We rely upon AWS to operate our cloud offering; any disruption of or interference with our use of AWS would adversely affect our business, results of operations, and financial condition.
  • Our growth depends in part on the success of our strategic relationships with third parties.
  • Because our long-term growth strategy involves further expansion of our sales to customers outside the United States, our business will be susceptible to risks associated with international operations.
  • We may require additional capital to support business growth, and this capital might not be available on acceptable terms, if at all.
  • We have obtained a judgment preservation insurance policy with respect to a now-vacated judgment and ongoing litigation against our competitor, Pegasystems, and both the payment on the policy and continued litigation are subject to risks and costs.
  • We maintain cash deposits in excess of federally insured limits. Adverse developments affecting financial institutions, including bank failures, could adversely affect our liquidity and financial performance.
  • Pursuant to the terms of our outstanding indebtedness, we may be limited in our ability to incur future debt.
  • If currency exchange rates fluctuate substantially in the future, our financial results, which are reported in U.S. dollars, could be adversely affected.
  • We employ third-party licensed software for use in or with our software, and the inability to maintain these licenses or errors in the software we license could result in increased costs or reduced service levels, which would adversely affect our business.
  • If we do not or cannot maintain the compatibility of our platform with third-party applications that our customers use in their businesses, our revenue will decline.
  • Catastrophic events may disrupt our business.
  • Adverse economic conditions abroad may negatively impact our business.
  • Future acquisitions could disrupt our business and adversely affect our business operations and financial results.
  • Risks Related to Regulatory Compliance and Governmental Matters
  • Failure to comply with governmental laws and regulations could harm our business.
  • Because we collect and store personal information, domestic and international privacy and security concerns could result in additional costs and liabilities to us, inhibit sales of our software, and subject us to complex and evolving federal, state, and foreign laws and regulations regarding privacy, data protection, and other related matters.
  • If our platform fails to function in a manner allowing our customers to operate in compliance with regulations and/or industry standards, our revenue and operating results could be harmed.
  • Changes in laws and regulations related to the internet or changes in the internet infrastructure itself may diminish the demand for our platform and could have a negative impact on our business.
  • We are subject to anti-corruption laws with respect to our domestic and international operations, and non-compliance with such laws can subject us to criminal and/or civil liability and materially harm our business.
  • We are subject to governmental export and import controls and economic and trade sanctions that could impair our ability to conduct business in international markets and subject us to liability if we are not in compliance with applicable laws and regulations.
  • Risks Related to Our Intellectual Property
  • Any failure to protect our proprietary technology and intellectual property rights could substantially harm our business and operating results.
  • We may be subject to intellectual property rights claims by third parties, which are extremely costly to defend, could require us to pay significant damages, and could limit our ability to use certain technologies.
  • Portions of our platform utilize open source software, and any failure to comply with the terms of one or more of these open source licenses could negatively affect our business.
  • Risks Related to Tax and Accounting Matters
  • If our estimates or judgments relating to our critical accounting estimates prove to be incorrect, our results of operations could be adversely affected.
  • Our operating results may be negatively affected by additional tax liabilities.
  • Our ability to use net operating losses to offset future taxable income may be subject to certain limitations.
  • We are obligated to develop and maintain proper and effective internal controls over financial reporting, and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of our Class A common stock.
  • Risks Related to Our Class A Common Stock
  • The dual class structure of our common stock and the existing ownership of capital stock by Matt Calkins, our founder and Chief Executive Officer, has the effect of concentrating voting control with Mr. Calkins for the foreseeable future, which will limit the ability of others to influence corporate matters.
  • Actions of activist stockholders could adversely impact our business and cause us to incur significant expenses.
  • We do not intend to pay dividends on our common stock for the foreseeable future, so any returns will depend on appreciation in the price of our Class A common stock.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management, and limit the market price of our Class A common stock.
  • Our amended and restated certificate of incorporation designates the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us and limit the market price of our Class A common stock.
  • General Risk Factors
  • Unfavorable conditions in the global economy or the vertical markets we serve could limit our ability to grow our business and negatively affect our operating results.
  • Our stock price has been volatile and may be volatile in the future.
  • If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our stock price and trading volume could decline.

Legal proceedings

Pegasystems Litigation

On May 29, 2020, we filed a civil complaint against Pegasystems, Inc. (“Pegasystems”) and Youyong Zou, a Virginia resident, in the Circuit Court for Fairfax County, Virginia. Appian Corp v. Pegasystems Inc. & Youyong Zou, No. 2020-07216 (Fairfax Cty. Ct.). On May 10, 2022, we announced the jury awarded us $2.036 billion in damages for misappropriation of our trade secrets and $1 in damages for violating the Virginia Computer Crimes Act. Pegasystems filed several post-trial motions seeking relief in the form of reducing the damages award or setting aside the jury’s verdict and either granting a new trial or entering judgment in Pegasystems’ favor. All of these motions were denied, and final judgment was entered by the Court on September 15, 2022. The final judgment reaffirmed the $2.036 billion in damages and also ordered Pegasystems to pay Appian $23.6 million in attorney's fees associated with the case as well as statutory post-judgment interest on the judgment at an annual rate of 6%, or approximately $122.0 million per year.

The opening of Item 3, Legal Proceedings.20

Sources

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