$APPN
APPIAN CORP

2018 Q2 Form 10-Q Financial Statement

#000144168318000113 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $59.88M $43.20M
YoY Change 38.62% 33.05%
Cost Of Revenue $21.57M $16.64M
YoY Change 29.67% 22.7%
Gross Profit $38.31M $26.56M
YoY Change 44.23% 40.47%
Gross Profit Margin 63.97% 61.49%
Selling, General & Admin $35.81M $31.41M
YoY Change 14.01% 73.07%
% of Gross Profit 93.47% 118.26%
Research & Development $10.79M $9.971M
YoY Change 8.16% 88.27%
% of Gross Profit 28.15% 37.54%
Depreciation & Amortization $700.0K $220.0K
YoY Change 218.18% 15.79%
% of Gross Profit 1.83% 0.83%
Operating Expenses $46.59M $41.38M
YoY Change 12.6% 76.5%
Operating Profit -$8.285M -$14.82M
YoY Change -44.1% 226.65%
Interest Expense -$54.00K -$197.0K
YoY Change -72.59% -18.26%
% of Operating Profit
Other Income/Expense, Net -$2.647M $537.0K
YoY Change -592.92% -155.13%
Pretax Income -$10.93M -$14.28M
YoY Change -23.46% 159.17%
Income Tax $35.00K $176.0K
% Of Pretax Income
Net Earnings -$10.97M -$14.46M
YoY Change -24.15% 236.73%
Net Earnings / Revenue -18.31% -33.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$178.7K -$337.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.40M $77.70M
YoY Change -35.14%
Cash & Equivalents $50.36M $77.65M
Short-Term Investments
Other Short-Term Assets $17.30M $13.00M
YoY Change 33.08%
Inventory
Prepaid Expenses
Receivables $64.92M $46.96M
Other Receivables $0.00 $0.00
Total Short-Term Assets $132.5M $137.6M
YoY Change -3.68%
LONG-TERM ASSETS
Property, Plant & Equipment $3.208M $2.872M
YoY Change 11.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $599.0K $395.0K
YoY Change 51.65%
Total Long-Term Assets $17.72M $15.06M
YoY Change 17.68%
TOTAL ASSETS
Total Short-Term Assets $132.5M $137.6M
Total Long-Term Assets $17.72M $15.06M
Total Assets $150.3M $152.7M
YoY Change -1.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.888M $7.782M
YoY Change 14.21%
Accrued Expenses $6.468M $6.880M
YoY Change -5.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $103.4M $79.80M
YoY Change 29.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $234.0K $1.737M
YoY Change -86.53%
Total Long-Term Liabilities $234.0K $1.737M
YoY Change -86.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.4M $79.80M
Total Long-Term Liabilities $234.0K $1.737M
Total Liabilities $118.2M $98.78M
YoY Change 19.66%
SHAREHOLDERS EQUITY
Retained Earnings -$116.7M -$83.04M
YoY Change 40.55%
Common Stock $147.8M $137.0M
YoY Change 7.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.06M $53.89M
YoY Change
Total Liabilities & Shareholders Equity $150.3M $152.7M
YoY Change -1.57%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$10.97M -$14.46M
YoY Change -24.15% 236.73%
Depreciation, Depletion And Amortization $700.0K $220.0K
YoY Change 218.18% 15.79%
Cash From Operating Activities -$9.790M -$9.460M
YoY Change 3.49% 9.74%
INVESTING ACTIVITIES
Capital Expenditures -$550.0K -$100.0K
YoY Change 450.0% -78.72%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$550.0K -$100.0K
YoY Change 450.0% -78.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.090M 51.64M
YoY Change -97.89%
NET CHANGE
Cash From Operating Activities -9.790M -9.460M
Cash From Investing Activities -550.0K -100.0K
Cash From Financing Activities 1.090M 51.64M
Net Change In Cash -9.250M 42.08M
YoY Change -121.98% -562.93%
FREE CASH FLOW
Cash From Operating Activities -$9.790M -$9.460M
Capital Expenditures -$550.0K -$100.0K
Free Cash Flow -$9.240M -$9.360M
YoY Change -1.28% 14.85%

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CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1182000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1541000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1404000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
234000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
734000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1233000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2593000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1675000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1081000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
205000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1593000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7032000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6374000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
80213000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2018Q2 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
4400000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
452000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2072000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3208000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
40000000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17271000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10785000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2663000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
22775000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
39778000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9971000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20655000 USD
us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-96189000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-116709000 USD
CY2017Q2 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
173261000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7010887 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5953949 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P5Y
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.36
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43198000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
81527000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
59883000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27384000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.06
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
111579000 USD
us-gaap Royalty Expense
RoyaltyExpense
300000 USD
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.05
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.68
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
50348000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9345000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4446000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
0 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2262569 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.29
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
27564000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
50540 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.01
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
176122000 USD
CY2017Q2 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P6Y6M
us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P6Y6M
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
74362000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y6M
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M0D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
4900000.0 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1600000 USD
CY2017Q2 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
216160 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1006398 shares
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2072000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
45524000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
32059000 USD
CY2017Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
143000 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
357000 USD
CY2018Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
0 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
0 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
700000 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42800875 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38561349 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61401466 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
61127516 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. Cash deposits may be in excess of insured limits. We believe that the financial institutions that hold our cash deposits are financially sound and, accordingly, minimal credit risk exists with respect to these balances.</font></div><div style="line-height:120%;padding-top:16px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">With regard to our customers, credit evaluation and account monitoring procedures are used to minimize the risk of loss. We believe that no additional credit risk beyond amounts provided for collection loss are inherent in accounts receivable.</font></div></div>
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Revenue</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred revenue primarily consists of amounts billed or billable in advance of revenue recognition from our subscriptions, software, and support and professional services described above. Deferred revenue is recognized as the revenue recognition criteria are met.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Although we believe that the estimates we use are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates.</font></div><div style="line-height:120%;padding-top:16px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant estimates embedded in the condensed consolidated financial statements include revenue recognition, income taxes and the related valuation allowance, stock-based compensation and fair value measurements for our common stock and preferred stock warrant.</font></div></div>

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appn-20180630.xml Edgar Link completed
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appn-20180630_cal.xml Edgar Link unprocessable
appn-20180630_def.xml Edgar Link unprocessable
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