APPN - Earnings call transcript Q2 2024

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Operator

Good day, and thank you for standing by. Welcome to the Appian Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jack Andrews. Please go ahead.

Jack Andrews

operator. you, Thank thank and joining us. Good you morning, for Quarter we results. review Second will Appian's XXXX financial Today, are Calkins, me Matheos, With Matt Chief and Executive Financial Mark Officer; Officer. Chairman and Chief questions. we the will After prepared call remarks, for open

business our quarter and existing to During identify this market our statements trends, and call, opportunity the year estimate, continue, are of expectations. guidance or and to intend, and ability are forward-looking from to The as results, any and are to cause materially of may Litigation make financial views Safe third and These future customers. Harbor our and federal laws comments pursuant results the XXXX. They acquire that words Private intended our subsequent risks full Reform date. to do our as upsell statements expressions to customers securities leadership subject the the They industry, growth our views trends, Securities of similar benefits statements under expand to our made actual are and related ability not market anticipate, of XXXX, variety we uncertainties maintain new our for that go-to-market related position, of of indications to will and expect, similar differ and could forward-looking strategy, only platform, to reflect provisions expectations. our our include ability a of Act represent These today.

XXXX of periodic on documents the QX XX-Q available risks the These important to our and results factors website. our other that are Investors a XXXX our affect For actual other SEC. of section filings the could refer our filing, and with material discussion XX-K,

most the over tables financial measures their CEO, release our to to these turn Matt earnings Calkins. I'd measures. in a the call. on non-GAAP to Matt? call measures reconciliation conference comparable to With will that, directly GAAP like of for Additionally, Refer financial this discussed be our

Matthew Calkins

XX% to Thanks, $XX.X million. $XXX.X XXXX, Subscriptions the year-over-year grew of revenue grew to year-over-year second revenue $XXX subscription Jack. million. In to grew quarter million. Total revenue XX% Appian's cloud XX%

Our of was Appian growth rate be growth million. retention continues as is Adjusted loss company, a revenue cloud our of was top EBITDA $XX.X and XX. a June subscription revenue XXX% to priority.

to steadily not improved and applied are We to investments indifferent efficiency. our our scrutiny profitability. We've more

took non-strategic expenditures. we quarter, action This to reduce go-to-market

is transactions large most return is at high investment EBITDA our align resources I've provide where spoken in these energy it's behind Mark With the strategy. we staff. our the our prospects, break use sales our it where for and success, and market, We're to in now the Appian we areas enterprise, industry leading to the hundreds best XXXX. details moves, ways even Appian's of end Appian we've better discovered allocate adjusted strongest, Together, verticals. we've on immersed specifically, our marketing full large and experienced the business myself more C-suite, functions. can appeals mission-critical the particular and and case. expect advantage partners, Recently, customers, remarks. prepared will year with to I've on the his extensively of

for win rates, and our retention we highest Here, good highest rates, of expansion some highest have and rates, reason.

delivers the platform to Our greatest the customers. discerning most impact

our of of Appian. with is hours every and of of XX% retention labor gross best-in-class enterprise dollars largest millions customers rate thousands save in Our software. Many year

customers. verticals Services, revenue Sector. half to continue Over and and verticals are of Life agencies, from and U.S. world's of Roughly Public key Sciences, XX% Financial engine. the comes growth Our largest our these be Appian Appian's companies

our record and most a is for processes these complex sector of industry of have specialized automating of organizations. Public most expertise decades proven one We track successful the verticals.

Government suite services. Acquisition GAM their momentum use have goods detailed procuring suite. Management, and to our Agencies processes GAM We manage for GAM with

this suite are period spring an ProcureSight a Government public our than last doubled build bookings strong. on complement that service agencies of this is year. and been can we sets. to it of To AI-driven has GAM, synthesize professionals website in procurement more same documents. in data the momentum, compared GAM past the Dozens because procurements this adoption procurement investment launched federal the ProcureSight today. year major We consolidates to use new broadening to use generate first half

that software For and disasters responses to purchased a QX. emergency became deal manages agency new customer natural in example, X-figure a one Appian

respond time incidents it our will in to needs to takes GAM rise the agency to Given use procure suite faster. full It wildfires, firefighting to the the reduce resources.

of Before procurement disparate combination and operations systems ran agency forms. paper Appian, a across physical the

will of Appian. of manage on dollars it annual Now billions procurements

federal is deploy strict data Appian natural defense, because application replace wants QX, Government requirements It we'll it deal to that customer hosting onto has Cloud. The security and purchased Another software agency procurement security an its the national defense costly sensitive. system became a GAM and it maintain. to X-figure supports quarter. this agency and Appian In inflexible for an

As dozen so a at a reminder, authorization or Impact Level Appian to was receive provisional one of companies X. the first

of new global can for applications. a Within signed organization the we quarter. clinical agency this Sciences, to Now customer top research maintain a as and the a GAM its deploy low cost Life cloud ownership securely total Appian

The systems organization's country's complex will process will single process application, investigators Fabric to platform site together on across this project for locations and can company many managers from the so bring selecting manually manage based resourcing used clinical and criteria, study sites. into Data systems. the a study's select manage a data Our regulations. Appian capacity,

make using XX% to faster Now, Appian. selections it aims

year, new within upsell we expansion monetize financial services deals and We new structure, this to launched customers sign features continue Earlier vertical. Appian's Appian existing our to our AI. structure large like a latest a pricing pricing

and customer XX%. our more platform insurer upsell by disputes. Here is to increased claims this Appian an strategy. manage been In years insurance than an The a company example of software QX, few a annual its uses has spend international for

purchased deal of feature users and more to quarter, amounts to will our our a claims. features. among worker new Appian productivity of easy X-figure process things, code data, AI to deal latest native and adopt. enhances our access upgrade user of prompt, AI won This add categorize AI We by, pricing and this the software based platform thousands other a to It is millions large generating to Appian responses. because and a summarizing recommending on deploy

Our that context and AI powerful the customers' the it because has is of the data, context. processes is

AI use train don't RAG, We or augmented Our retrieval Data and AI to them. private is because generation Fabric, we training also and avoid algorithm.

Appian usage compared last doubled to quarter. quarter, AI of This

has days example: In medical Here's dispute to Appian. response emergency disputes. claim an regulations, transportation appeal XX processes QX, with government a and its company new the company Under automated

case our using workers more respond automation capabilities. Now efficiently

annually. tens low-code a incident millions is platform. and the automation our Appian of data ProcessHQ first real-time systems medical and First a process in Appian A of orchestration. recommend classifies AI insurance health by ProcessHQ, ingests enterprise of customer tracking Appian. process from and was handle just of call about using of Appian, we analysts. leaders claim development, platform bots RPA workflow disputes provider The to revenue in is expects leading and actionable top the time. in for Gartner user disputes increasing disputes appreciated a AI Process to dollars were which us QX, automation, retrieve named Magic Analysts application various completeness released our Appian business digital Appian users payer recognized the because automation process In then with Appian faster, mining, We April. improvements. by leader the and is for medical for Mining Quadrant on process manages included the Platforms processes payouts by

the to efficient. be with members discovered submitting claims. wanted it ProcessHQ This duplicate because more of The tens process quarter company thousands of were analyzed

unanimous Act. even Pegasystems misappropriating jury millions case the appealing jury's we submissions, work reinstate opinion changes of secrets. have state's hours court, not Crimes an finding the of That look was Earlier fact are was eliminate that process, opinion by the to intermediate Virginia the attempt in in the Court We including to week, forward court, Appeals of appeal. Now that this the found Virginia highest by Supreme week's this save Court to not our in violation Pegasystems can and Crimes Pegasystems will disturbed on trade decision the this billion of against Computer the annually. of and verdict, Appian's week's this week's over rendered of award Act hopeful to Virginia, its against full did the Nothing Virginia the Computer secrets unnecessary maliciously contest on $X and optimize willfully decision its appellate state's violation committed for computer Pegasystems. and trade fraud

I'm sordid our perspective product future. appian.com/pega. Appian's full us efficient great I innovating page growth a and special Appian's commitment great For experience. on you a optimistic about our stakeholders. this refer allow value deliver continue while delivering to We affair, on a Appian's to to to will our customers website,

to call Mark financials. deeper a the discussion Now for over the I'll hand Mark? of

Mark Matheos

and you thank for we'll third for the provide quarter, XXXX. full then everyone joining and the guidance and today. quarter review I'll to Matt, Thanks, the financial for us highlights year

of Our EBITDA an adjusted $XX.X came revenue Cloud subscription our above key all metrics guidance of high the and increase ranges. end revenue total of was year-over-year. cloud revenue, in million, XX%

ago at stable and slightly from with renewal the gross prior a subscription cloud XX%, consistent Our XX% year remained quarter. up rate

revenue cloud ago Our compared XX, XXX% in XXX% as June a prior to was and year rate XXX% retention subscription quarter. of XXXX, the

was subscription revenue total the net XXX% cloud for of prior million, continue year-over-year. X% million, $XX.X of XX% target Professional XX% XX% cloud We second quarterly the a a increase revenue an to Total down compared bookings year-over-year. XXX% of revenue Approximately quarter. new basis. in subscriptions year the rate our quarter to services was software retention was to on $XXX in

drive fluctuate previously, to can large stated services professional our services customer we revenue leverage professional the enable to projects. and of As timing We due partners success. quarter-to-quarter

Over revenue XX% as XX% the was of $XXX.X in total million, revenue of long in XX% the we services and year-over-year. period the year professional ago increase quarter. term, Total percentage to revenue. revenue compared to decline XX% represented Subscription continue total of to revenue an a prior expect

We of global revenue, ago consistent total international XX% our platform operations continue to the with our period. contributing for see with year demand

headwind Foreign exchange X% quarter. this than slightly modest a revenue movements provided less of

year non-GAAP the XX%, XX% to was the year compared margin quarter. gross the XX% Non-GAAP consistent gross year-ago the XX% non-GAAP prior from gross in and ago services metrics. profit XX% compared the up and margin profitability in with prior the in was quarter. prior period quarter. margin and in to in Professional period Subscriptions period XX% ago to Turning XX% XX% was

invest in adoption achieve enable to business To we and Our outcomes platform. areas customers goal, positive to our non-billable goal help technology is our this to our increased of continue accomplish organization. services of

$XX ago. improved in stated had the loss approximately adjusted exchange X% $XXX.X period of a low the of $XXX,XXX guidance and million period. $XXX.X second we loss foreign loss professional compared gross previously, exchange expenses quarter, to year non-GAAP expect between of million to the $XX.X second million, in ago decline margin million beyond. from $XX year from quarter ahead of in $X.X an $XX.X million Total foreign up gains losses in we significantly In million services XXXX As the well EBITDA range in were the period. the was our year for million ago a Adjusted EBITDA to same and and XX% quarter, non-GAAP

Therefore, not do we compared second million $XX.X loss the rates. in $X.XX balance of movements for Non-GAAP share was loss $X.XX non-GAAP reminder, guidance. our share are diluted our quarter or to net to million a not movements forecast per net of XXXX. in FX $XX.X turning per considered sheet. -- or As FX a

our cash, of and cash This with June operate significant us investments XX, $XXX.X in and liquidity were business. As XXXX, provides to million. equivalents, invest

primarily in the second versus activities usage $XX.X year. facilities for by driven was timing the used cash The of $XX.X operating operating cash and the by vendor was quarter, cash same million increase million by payments. of activities last used For period

as million period. ago XXXX, of of the Finally, second year an quarter total of XX% from deferred the $XXX.X was revenue increase

while the invoicing, customer indicator billed subscription business all annual private of our duration basis, software deferred support metrics and upfront of whether can license of fluctuate contracts. our we on-prem performance reminder, of These based is latter Cloud, a a Consequently, timing which the revenue that customer or on deploys or believe Appian on The regardless As revenue than are seasonality is by scale true the revenue, customers monthly. are in their subscriptions subscription of of we remaining on-prem. revenue also majority better to have obligations. represented continue invoiced revenue, the some cloud includes Appian's of business or the quarterly an customers cloud billings momentum to large

to with As consolidation and align Matt expenses include adjustments personnel to in These our mentioned, have reduction we made our of a some strategy. facilities.

the to half second path will forecasted to of actions XXXX. XXXX, breakeven EBITDA our adjusted in ahead accelerate profitability. we Looking believe We these previously

Now we full expect the milestone achieve this to year for XXXX.

our specifics guidance. turn Let's the of to

weighted the between to range diluted This is to million common be net and and XX%. representing million. loss year-over-year million, of quarter X% subscription Adjusted is be average between to is between For and revenue share between $X.XX. million, expected and $XX expected $X.XX EBITDA expected growth Non-GAAP expected Total per XXXX XX.X third is outstanding. of to quarter growth assumes cloud breakeven $XXX $X for XX%. million positive XX% the and shares third representing XXXX, million range to revenue year-over-year between between $XXX $XX

For the outlook, At cloud the slightly between year now previous to representing believe is year-over-year million million, is the and adjusted we're discussed time, revenue growth EBITDA guidance. expected million. personnel midpoint our Cloud potential factor given of adjusted $X we some of This positive now is total guidance. XXXX, significantly negative full $XXX to subscription revenue We same Total an year is from $X EBITDA million, $XXX changes full now XX%. improvement from our expected our XX% We be million expect and near-term our $XX guidance into be prudent the to we're $XXX year-over-year reducing between uncertainty improving revenue earlier. million it in range to to between of million XX%. to growth $XXX range. representing to revenue

outstanding. per between assumes also are our This We to $X.XX range to weighted non-GAAP diluted net shares $X.XX. average million updating full-year share XXXX XX.X loss common

large the the by X swung Our as in or previously transactions. First, following: guidance our services disclosed, X assumes be can variability revenue

We flat expect be sequentially down to in QX. professional to services revenue

that expect we seasonality QX increase revenue prior the Second, is sequentially on-prem license consistent will with in and track periods.

expenses our a ahead In We'll greater on accelerating year. commitment closing, we're full from assumes We to non-GAAP $X pleased and capital this million Third, the us. July expected the Operator? $X XXXX. XX, be of market about driving our growth in and well $X million and basis that, for And $XX total are year $X in $XX line year expected and questions. million rates between million QX for that FX to and us large business. in interest be between capabilities million and with we Fourth, for and to to QX to $X our focus adjusted other capture will platform of million to unique between EBITDA up open believe income the breakeven while million million expenditures fifth, between the are continue full on $X guidance as opportunity XXXX. XXXX XXXX. efficiencies of position the the And

Operator

Stanley. with Sanjit first Instructions] comes Singh from [Operator Morgan Our question

Sanjit Singh

to to the with profitability. Matt, to decision accelerate off I start the path wanted

you think prefirm characterize mode. would a I sounded quarters few -- in investment it ago, as I still

love driven as So does environment? did decision potential derisking or like with seeing get the to pipeline? cloud you by half, outlook, path the And just close Mark, just any that revenue you the I'd pipeline your Is in weaker execution come accelerate absorption of behind a rates Are issues? terms sales profitability. to weaker terms Or guidance. in sort thoughts a demand just the weaker of you second outlook then, of to the the said, in the see

Matthew Calkins

though if a just could have about possibility. it could that I this of feel out that be that I I could, this you to Mark. will would felt With reductive directed say move that we temporary question, for disruptive cost I a to jump I prudent get made second adjustment. wanted have were it I'd not We like in, on strongly adjust effects. to ahead that. it. insisted to have regards even Sanjit, to quarter move and

remarks, fact growth. that -- that the and cost opportunity, mentioned basically, we in to And of move, this felt to of away a of as the possibility But we We pivot to any, short-term, we like in for focused scrutiny the from the we the light is that this we in through are an make overall opportunity. didn't the could had not an we applying move. if in it we but organization, feel saw grow saw that we move. any saw we we on effects, I decision, and As growth. This would could that be structure decided make light make

Sanjit Singh

Understood. I follow-up, helpful may, Matt. That's if context. super And one

As the week, you insurance of tie verdict. court by it the of if relates underwrote had to you the that sort this the policy that written sort decision could

I how guarantee of to for think tie signed year? million $XX that decision think impact it guys remind last I does does the does up -- X that $XXX the How in? $X those billion. policy me if How week this original was insurance at least million you the like

Matthew Calkins

Yes. precisely insurance details to we Do -- you With you you. regards want question it's of important answering so exactly document convey to instead the be to be to us the to direct important that that very correctly. the to to just because them And get correct. verbally, right? -- I so it's and I policy, want

Mark Matheos

of filed in it was Yes, September XXXX. in an X-K

easily describes the policy of website you forward. and the go X-K and -- XXXX find going SEC to So to scenarios September can go or

Operator

question Barclays. from Lenschow with next Our Raimo comes

Raimo Lenschow

going again. guidance to the back Matt,

also you will to coverage? want few purely companies more economy kind likely be other half of second it I the guidance other kind Or prudence things that like one clarify to the like a Is of that saw? quite because there's slightly you make on And But done just is it on cetera, purely economy. this of the there in action then kind is get kind just of time? weaker there So sure a that and asking implication. the that et because is I'm talked the about Salesforce, well

clarifying Just and a I one then had here question follow-up.

Matthew Calkins

to are not with -- It this we macro. about I macro reacting am Raimo. move. is not Thanks, and FX

Raimo Lenschow

management you've a discussed like you then you and an And opportunity. more Can been talk growth-focused about move the historically, takes bit the puts as here, little team.

You probably like a think other profitable as being quicker, profitability, as a mean maybe sites and more for got of does a you pushback company kind that should about we from what management it company. team

Matthew Calkins

Yes.

Let that to profitability from that productive primary to to the places do productive. some that remove doing investments transferring others. me means say places thing more in order grow can we is under as here we're a it's where to not commitment is energy And that

positive So I Operating of under run just believe how management thing, run. that profitability for generally. structure Appian's It's is a how I prefer is just most its lifetime. to good

So I stretch this talk stretch reassessment belongs in I it that's and I effective. and just of in here energy that a solutions the this fact we're for willing of others opportunity we're and bonus to and energy on, we flow But a that's increasing that here. is where think things places that, to most saw and reallocation of moment for, we also could the enabled by large the is enterprise. there's And about where that public well. into flowing out. that's, energy in talk as There's some deals, of course, sector both about right?

Operator

Enders comes our Steven Citi. And next from question with

Steven Enders

now all? road? made go-to-market time even And maybe a initiative for guess, on Or better guess leading this get quarter down this understanding the what's doing this right to decision at versus the just through guess, this want why go I to to being side? I is the I

Matthew Calkins

opportunity. It's But question. That's be as do scrutiny couple year them. know, ongoing been market a the a organization. at to into these revealed And strategic truth forefront. all. to it year, years The we make I forecasting some just organization And We an the like we to we've on credit And just want right a of of you wouldn't going years. away. right And has of for that process why been complement it That's moves. natural some plan We is truths it we've was that. This Yes, for had that's we've great our bring saw some to next for said course, is across the you the clearly as felt year. it. big about focus. act now, next the

Steven Enders

guess a Appian helping value I that's I that the resonating bit, little AI And maybe just can with the quarter. market? success little there proposition specifically kind any a bit what's gears kind of contribute guess, underlying Appian more you seeing of double on and the the maybe clarity for in adoption here? provide to functionality this on switching is in like

Matthew Calkins

advanced for we're rolling also them And definitely customers would advanced new usage them want a it to the tempt background understand that with priced reason of free But into We market AI And all little be we're A give standard of which say you have its pretty Well, AI will AI buying AI functionality the over how we we tier time. incentive encouraging how prefer that's also licenses. a to the is. Yes. we're is that at license seeding them more And to bit of bit our works. important pay of out on feel advanced pricing to usage. licenses users. little to tier. full to a powerful course, that

pay. we've to a And have small to then at use AI if offering So want it then been scale, usage of [indiscernible]. amount they they

rationale the features So jump. the why that allotment, between the new start-up have I the and in the you and usage emphasis that for advanced think on combination tier

Operator

question with Wood Derrick our TD from And Cowen. comes next

James Wood

should expected? Where take efforts to headcount we is are color restructuring Hoping cost to be restructuring little charges modeling? And kind get How looking you're you out? bit more what a Great. the reduction around of taking. much

Matthew Calkins

to talk start on that. going We're I headcount. about Shall not

of we go-to-market can that our in the efficient I we analyzing drive that ACV or amount are we that say expenditures drive. our will be new net infer according they spend go-to-market all want dollar. We they way We that to will to of -- the

And Do analysis wanted we that you to mixed there of say about efficiency we places want a had to charge? that energy that shift that so were bag revealed a and towards. anything

Mark Matheos

Yes.

recorded second this we approximately quarter, today. in we've by you charge the our the see XXX later actually and can we will a filed have charge XX-K that did million. and in So employees our But that took it reduced workforce be disclosure of around $X

James Wood

hearing has And some sense It give the I away business you enterprises. mean, I may large can been you mean, change shifting forward? if with between sounds Matt, I'm about perhaps know I efforts like And a mid-market up-market. of you from prioritizing you're focus don't cloud that talk if on-premise of that's and mix going the how bookings what that of of historically. case, kind us mix and

Matthew Calkins

right. All Yes.

transactions. I'm transactions. I on small was energy of too against Appian not much small think its spending that

unique for there place us have to but to a upside kind they performed shine the transaction they so there's and lead and Appian's think where be be I has clearly. quickly differentiate them, most advantages to of that

And functionality And proposition. I when and so deals a an execute we then I do differentiative deal to are to where advantaged want rapidly. path value have that those smaller, to want transactions

see of more directed any abandoning posture more in aggregate emphasis. to energy have our a opportunities. like changing a to markets, specific different to want relation we not just differentiated markets. And but We're it's at I'd So

Operator

comes question Goldman Kumar Kevin next Sachs. with from our And

Kevin Kumar

of growth. to strength you internationally, anything that how ask where And about a the the little traction of be international know and revenue international but maybe sectors would terms be in to Any going there? I wanted metrics overall in you're beyond that's the differences I share gaining growing what's can noisy, maybe domestic? is to seeing relative that you're helpful. ARR types

Matthew Calkins

example. In quarter matter ago, Asia, months X regard, the America and were North this this this see they same I and for Europe the much for not or about year. ratios between has changed as Yes. that

notable anything So I don't there. believe there's

Kevin Kumar

about just talked you in Matt, of kind GAM government. then, strength And and the

the So and some how trends you curious, adoption opportunity broader the talk and maybe there Can of especially and some just of your of in maybe financials and vertical kind like kind solutions of other other seeing of for you're those rate about the about the solutions, think you insurance. verticals. traction,

Matthew Calkins

I the want to pharmaceutical. invest Appian. of now sector. in insurance, loved verticals, more is of freeing It's energy in other It's solutions part scrutiny can it. in feel right for to what great GAM, to it. It's we're going course, more be doubling be about public going solutions so opportunity we doing year-over-year. up I've invest I that not

future. attention. all have way, have together. solutions who those great We major motivated it ourselves. together. have now. We And the put investments We the We places in it partners This making to By is don't write we seriousness is to sell we're for all it. can those write a market opportunity us. This

Operator

comes William next [Operator Instructions] Jake question with from Blair. Our Roberge

Jacob Roberge

that government. timing a industries those in go-to-market a Do you for will had anticipate do long to CRO think And perspective, to few hiring Matt, then I changes know organization. new moving from recently like lead continue leadership focus or you've the Just you key customers financial and organization further on the how a changes you upmarket take also that will services forward?

Matthew Calkins

Yes. Well, I'm staying close. really

very, make take we Well, long know agile -- organization going And Let's He's who met will an quickly. you organization. need to working we're you the Mayer, how need great. control. We to to organization. at Investment put don't our many say, team, as it empowering I'm of you as we're that also that sales way. more very staying taking And it's changes. an close a we Mike But Day. makes changes

a that just it's -- you is time. good these staying I changed to anything about QX it and over we're concrete changes continuum. to intensively know attending It's exactly close And also we so have And surely to QX. sure when because that. hesitate in say way a will But be in

Jacob Roberge

great that AI to hear in the usage quarter. then doubled And Appian

should doubling how adopt get about usage path revenue with free to some that here market But get seeding advanced talked true we people You think usage into to that time. monetization? of about the to the over

Matthew Calkins

a I we much monetization to think up get feature now tier have monetization pay to ask when it. Yes. And better year place created because new or and pricing. Well, revenue in up-tier we of the this release we customers story more the we can it functionality,

also more revenue. we're advantage into And got future play just much about translate that's the value. a in unique AI, way So direct advantage the we AI. We've establish the with

private a have We AI.

data, not it, preserving disclosing sanctity it, We private consolidating someone not champions an not organization's of are algorithm someone with database. it the else's AI of the in training else's

are existing it way existing We And the the architecture, to is. preserving the and champions customers' anti-big we're I In for tech. believe it data, way, that it this be allowing room a emphasis of the of because championing champion for customer anti-big and preferences the has for the market power on against priorities this the we're Champion the tech pure-play vendor. an

excited for offering our We're functionality that option. gives better So room us. users this a about there's

will continue chart And unique to a so we course.

same Of the with same constrain going all their contrasts way. the that their privacy to enterprise course, competitors and information not the are to that make of that to demands customers and explain our vendors and in of

don't have We data. them, And a to valuations it's customers assumption. conclusion look, train owns idea. an center want the thing want say, to that's here. bit data. it. they that of There's think mention an it. to a don't I our want on of ours. think But foregone people, like an reflected That's that I that getting That's to advantage. We customers don't that else. share still We I for tech primary like big bristle, lot lot I'm it consolidate this when a they it our the off of preserving energy it's somewhere don't I I the us, constitutes favor asset. for know in data little mention of feel important that question a angle constitutes But architecture. and it to

customer in to and play will the request their to about to in business going favor Our are on privacy different, enterprise, different, our answer regards. a customer continue is have to worries divergent our we're disruption the these continue and that very cause and offering when a they the

Operator

this This at conference time. concludes questions Thank call. you. you today's I'm showing Thank no for further participating.

disconnect. now may You

Appian (APPN) 1 Aug 242024 Q2 Earnings call transcript