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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
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Appian (APPN) investor relations material
Appian Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Cloud subscriptions revenue grew 21% year-over-year to $113.6 million in Q3 2025, with total revenue up 21% to $187.0 million and adjusted EBITDA reaching $32.2 million, exceeding guidance.
Net income for Q3 2025 was $7.8 million, reversing a net loss in Q3 2024; non-GAAP net income was $24.4 million, up from $1.8 million.
Subscriptions now represent 79% of total revenue, with a 111% cloud subscriptions revenue retention rate and high renewal rates.
AI adoption and up-market strategy drove a 50% increase in new seven-figure software deals, with federal and international sectors outpacing overall growth.
Major product launch, Agent Studio, and new enterprise-ready AI capabilities are expected to drive further AI adoption and operational improvements.
Financial highlights
Cloud subscription revenue: $113.6 million (+21% YoY); total subscription revenue: $147.2 million (+20% YoY); professional services revenue: $39.8 million (+29% YoY).
Total revenue: $187.0 million (+21% YoY); subscription revenue represented 79% of total revenue.
Gross margin: 77% (unchanged YoY); subscription gross margin: 88%; professional services gross margin: 34%.
Adjusted EBITDA: $32.2 million (vs. $10.8 million YoY); net income: $7.8 million (GAAP), $24.4 million (non-GAAP); EPS (diluted): $0.10 (GAAP), $0.32 (non-GAAP).
Cash and investments: $191.6 million as of September 30, 2025; cash from operations: $18.7 million (Q3), $61.7 million (nine months).
Outlook and guidance
Q4 2025: Cloud subscription revenue expected at $115–$117 million (+16–18% YoY); total revenue at $187–$191 million (+12–15% YoY); adjusted EBITDA at $10–$13 million.
Full year 2025: Cloud subscription revenue guidance raised to $435–$437 million (+18–19% YoY); total revenue to $711–$715 million (+15–16% YoY); adjusted EBITDA to $67–$70 million.
Professional services expected to grow in the teens for Q4 and full year; term license revenue flat in Q4, mid-single digit growth for full year.
Non-GAAP net income per share guidance: Q4 $0.04–$0.08; full year $0.50–$0.54.
Guidance assumes modest disruption from the U.S. government shutdown, with up to $10 million potential impact if shutdown continues through year-end.
Agent Studio's monetization and adoption plan
Balance sales growth with margin expansion
Appian's strategy for legacy app modernization
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Barclays 23rd Annual Global Technology Conference10 Dec, 2025
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Frequently asked questions
Appian provides a low-code platform that enables the rapid creation of applications with the touchscreen, drag-and-drop ease of use of a product such as Microsoft Access. Appian is more than just technology; we are a partner who helps our customers solve their most complex problems and provides them with the flexibility to do it rapidly and at scale. The company was incorporated in 1999 and is headquartered in McLean, Virginia.
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