Appian delivered a robust third quarter 2026, reporting total revenue of $234.6 million and non-GAAP earnings that significantly outperformed analyst expectations. The results were driven by continued momentum in cloud subscriptions and high retention rates, though cash flow from operations saw a year-over-year decline.
Key Highlights
- Cloud subscription revenue grew 20% year-over-year to $136.4 million, slightly exceeding the guided $134 million midpoint.
- Cloud net annualized recurring revenue (ARR) expansion reached 120%, signaling strong upsell activity and platform stickiness among existing enterprise clients.
- Non-GAAP EPS of $0.51 beat the $0.33 consensus estimate by 54.5%, supported by adjusted EBITDA expanding to $43.4 million.
- Net cash used by operating activities was $15.4 million, a notable reversal from the $18.7 million in cash provided during the same period last year.