On this page of StockholderLetter.com we present the latest annual shareholder letter from APPIAN CORP — ticker symbol APPN. Reading current and past APPN letters to shareholders can bring important insights into the investment thesis.

To Appian shareholders, 1RW ORQJ DJR , PHW D EXVLQHVV OHDGHU ZKR WROG PH KLV UP KDG WZR WRS SULRULWLHV IRU H FLHQF\ DQG $, ,WoV D FULWLFLVP RI WKH $, FRQYHUVDWLRQ WKDW DIWHU WZR \HDUV RI LQWHQVLYH GLVFXVVLRQ SHRSOH VWLOO LPDJLQH $, LV IRU VRPHWKLQJ RWKHU WKDQ H FLHQF\ 7RGD\ DW OHDVW $, LVQoW IRU VHHLQJ DURXQG FRUQHUV OHDSV RI FUHDWLYLW\ RU RXW WKLQNLQJ KXPDQV ,WoV IRU GRLQJ UHJXODU MREV ZLWK VXSHUKXPDQ H FLHQF\ ,Q WKLV ZD\ $SSLDQ FOLHQWV DOUHDG\ VHH PDMRU H FLHQF\ JDLQV XVLQJ $, )RU PDQ\ \HDUV $SSLDQoV SODWIRUP VKLSSHG ZLWK GLJLWDO ZRUNHUV OLNH 5RERWLF 3URFHVV $XWRPDWLRQ DQG FRPSOH[ EXVLQHVV UXOHVHWV 7KHVH GLJLWDO ZRUNHUV DUH XVHIXO EXW WKHUHo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oV FXVWRPHU EDVH LV DOUHDG\ XVLQJ $, LQ SURGXFWLRQ RU GHYHORSPHQW :H PDNH $, HDV\ WR LQLWLDWH DQG LPPHGLDWHO\ YDOXDEOH $SSLDQ XQGHUWRRN D PDMRU H FLHQF\ H RUW RI LWV RZQ WZR \HDUV DJR :H PRYHG IURP D VXEVWDQWLDO DGMXVWHG (%,7'$ ORVV LQ o WR D VXEVWDQWLDO DQG JURZLQJ DGMXVWHG (%,7'$ JDLQ LQ o 'HVSLWH RXU LPSURYHG QDQFLDOV ZH UHPDLQ D JURZWK FRPSDQ\ 2XU LQWHUQDO ERQXVHV DQG WDUJHWV SULRULWL]H JURZWK :H EHOLHYH RXU JURZWK SRWHQWLDO LV KLJKHU QRZ WKDQ LW ZDV EHIRUH ZH EHJDQ WKH LQLWLDWLYH 7KHUHo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oUH ZHOO SRVLWLRQHG WR KHOS WKHP JDLQ YDOXH IURP $, 3URFHVV LV ZKHUH ZRUN KDSSHQV DQG LWoV WLPH WR EULQJ $, WR ZRUN
 • shareholder letter icon 4/23/2025 Letter Continued (Full PDF)
 • stockholder letter icon 4/28/2023 APPN Stockholder Letter
 • stockholder letter icon 4/25/2024 APPN Stockholder Letter
 • stockholder letter icon More "Application Software" Category Stockholder Letters
 • Benford's Law Stocks icon APPN Benford's Law Stock Score = 81


APPN Shareholder/Stockholder Letter Transcript:


To Appian shareholders,
1RW ORQJ DJR , PHW D EXVLQHVV OHDGHU ZKR WROG PH KLV   UP KDG WZR WRS SULRULWLHV IRU           H  FLHQF\ DQG     
$,  ,WoV D FULWLFLVP RI WKH $, FRQYHUVDWLRQ WKDW DIWHU WZR \HDUV RI LQWHQVLYH GLVFXVVLRQ  SHRSOH VWLOO LPDJLQH $, LV 
IRU VRPHWKLQJ RWKHU WKDQ H  FLHQF\  7RGD\ DW OHDVW  $, LVQoW IRU VHHLQJ DURXQG FRUQHUV  OHDSV RI FUHDWLYLW\  RU RXW 
WKLQNLQJ KXPDQV  ,WoV IRU GRLQJ UHJXODU MREV ZLWK VXSHUKXPDQ H  FLHQF\ 
,Q WKLV ZD\  $SSLDQ FOLHQWV DOUHDG\ VHH PDMRU H  FLHQF\ JDLQV XVLQJ $, 
)RU PDQ\ \HDUV $SSLDQoV SODWIRUP VKLSSHG ZLWK GLJLWDO ZRUNHUV OLNH 5RERWLF 3URFHVV $XWRPDWLRQ DQG FRPSOH[ 
EXVLQHVV UXOHVHWV  7KHVH GLJLWDO ZRUNHUV DUH XVHIXO  EXW WKHUHoV QHYHU EHHQ D GLJLWDO ZRUNHU OLNH DQ $, DJHQW  ZKLFK 
PXOWLSOLHV WKH LPSDFW RI RXU GLJLWDO ZRUNHU VXLWH  :H QRZ R  HU PRUH YDOXH WKDQ HYHU EHIRUH 
:H EHOLHYH LQ EULQJLQJ $, WR ZRUN  7KDW PHDQV   QGLQJ WKH SODFHV ZKHUH WKH PRVW LQWHQVLYH  YDOXDEOH  KLJK YROXPH 
ZRUN KDSSHQV DQG GHSOR\LQJ $, GLUHFWO\ LQWR WKDW SURFHVV   :KDW HOVH FRXOG MXVWLI\ WKH LQYHVWPHQW RXU HFRQRP\ LV 
PDNLQJ LQ $,"  7KHVH MREV DUH GRQH E\ WHDPV RI ZRUNHUV LQ PXOWL VWHS SURFHVVHV  2XU SURFHVV SODWIRUP PDNHV XV 
XQLTXHO\ DEOH WR GHSOR\ $, LQWR WKH KHDUW RI VXFK PDMRU H  RUWV 
7KLV ZLOO EH WKH \HDU ZKHQ $, VXFFHVV LV MXGJHG E\ UHVXOWV QRW QRLVH  0RVW RI $SSLDQoV FXVWRPHU EDVH LV DOUHDG\ XVLQJ 
$,  LQ SURGXFWLRQ RU GHYHORSPHQW   :H PDNH $, HDV\ WR LQLWLDWH DQG LPPHGLDWHO\ YDOXDEOH 
$SSLDQ XQGHUWRRN D PDMRU H  FLHQF\ H  RUW RI LWV RZQ WZR \HDUV DJR  :H PRYHG IURP D VXEVWDQWLDO DGMXVWHG (%,7'$ 
ORVV LQ o   WR D VXEVWDQWLDO DQG JURZLQJ DGMXVWHG (%,7'$ JDLQ LQ o    'HVSLWH RXU LPSURYHG   QDQFLDOV  ZH UHPDLQ D 
JURZWK FRPSDQ\  2XU LQWHUQDO ERQXVHV DQG WDUJHWV SULRULWL]H JURZWK  :H EHOLHYH RXU JURZWK SRWHQWLDO LV KLJKHU 
QRZ WKDQ LW ZDV EHIRUH ZH EHJDQ WKH LQLWLDWLYH 
7KHUHoV VWURQJ V\QHUJ\ EHWZHHQ $, DQG SURFHVV  $, LV PRUH SRZHUIXO ZKHQ GHSOR\HG LQ WKH FRQWH[W RI D SURFHVV  
3URFHVV JLYHV $, D JRDO WR ZRUN WRZDUGV  D WHDP RI FR ZRUNHUV  D   RZ RI ZRUN  JXDUGUDLOV  H[FHSWLRQ KDQGOLQJ  
KXPDQ RYHUVLJKW  DQG HVFDODWLRQ SDWKV  2XU SURFHVV SODWIRUP DOVR JLYHV $, DFFHVV WR GDWD DFURVV WKH HQWHUSULVH  
WKURXJK RXU SDWHQWHG GDWD IDEULF  $QG ZH PRQLWRU $, ZLWK SURFHVV PLQLQJ  DOORZLQJ XVHUV WR XQGHUVWDQG  WUDLQ DQG 
LPSURYH WKHLU $, DJHQWV 
$SSLDQ LV D SURFHVV SODWIRUP GHVLJQHG IRU PLVVLRQ FULWLFDO SURFHVVHV  :H ZRUN ZLWK   RI WKH    ODUJHVW QRQ &KLQHVH 
EDQNV    RI WKH    ODUJHVW SKDUPDFHXWLFDO FRPSDQLHV  DQG DOO    86 FDELQHW OHYHO DJHQFLHV  :H HDUQ WKH WUXVW RI RXU 
FOLHQWV ZLWK JUHDW WHFKQRORJ\ DQG H[SHULHQFHV  DQG ZHoUH ZHOO SRVLWLRQHG WR KHOS WKHP JDLQ YDOXH IURP $, 
3URFHVV LV ZKHUH ZRUN KDSSHQV    DQG LWoV WLPH WR EULQJ $, WR ZRUN 



shareholder letter icon 4/23/2025 Letter Continued (Full PDF)
 

APPN Stockholder/Shareholder Letter (APPIAN CORP) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.