Appian: Q2 Earnings Snapshot
TYSONS, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $49.4 million in its second quarter.
The Tysons, Virginia-based company said it had a loss of 68 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 46 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The business process management software provider posted revenue of $110.1 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $103.4 million.
For the current quarter ending in October, Appian expects its results to range from a loss of 23 cents per share to a loss of 20 cents per share.
The company said it expects revenue in the range of $115 million to $117 million for the fiscal third quarter.
Appian expects full-year results to range from a loss of 91 cents per share to a loss of 86 cents per share, with revenue ranging from $466 million to $470 million.
Appian shares have declined 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $55.42, a decline of 49% in the last 12 months.