Short answer
APPIAN CORP (APPN) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $727M (+17.8% year over year) and net income of $1M.
- Top risk flagged: Legal risk from ongoing litigation with Pegasystems, driving a $5.8 million increase in 2025 legal fees
FY2025 key financial metrics · XBRL
- Revenue
- $727M
- +17.8% YoY
- Net income
- $1M
- +101.3% YoY
- Operating margin
- 0.1%
- +9.9 pp YoY
- Gross margin
- 72.5%
- −3.1 pp YoY
- EPS (diluted)
- $0.02
- +101.6% YoY
- ROE
- -2.6%
- −285.3 pp YoY
- Operating cash flow
- $63M
- +814.1% YoY
Source: XBRL data from the APPIAN CORP (APPN) FY2025 10-K on SEC EDGAR. USD.
APPIAN CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Scalable process automation platform integrating AI, RPA, intelligent document processing, unified data fabric, and enterprise-grade controls
- New emphasis on AI integration as embedded digital worker with strict controls, moving beyond AI as assistant role
- Strategic shift toward accelerating AI adoption and expanding international footprint, generating 38% revenue outside U.S. in 2025
- Customer base paying >$1M annual recurring revenue grew 22% from 115 (2024) to 140 (2025) under refined customer definition
- Workforce count at 2,149 employees globally as of December 31, 2025, supporting growth and platform innovation initiatives
Management Discussion & Analysis
- Revenue and profitability details not provided in the MD&A excerpt
- Cash flow, buybacks, dividends, capex information not disclosed
- Forward-looking statements noted but no specific guidance or emerging risks detailed
Risk Factors
- Legal risk from ongoing litigation with Pegasystems, driving a $5.8 million increase in 2025 legal fees
- Geopolitical exposure in U.S. federal government sector, accounting for 25.3% of 2025 revenue
- Operational risk from reliance on third-party managed hosting providers, causing $13.0 million hosting cost rise in 2025
- Competitive threat from strategic partners (Accenture, Deloitte, PwC) who build competing pre-built solutions on Appian’s platform
- Financial risk due to long sales cycles: sales reps take 6-12 months to become productive, impacting customer acquisition efficiency
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