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appian Appian Announces First Quarter 2021 Financial Results May 6 , 2021 Cloud subscription revenue increased 38 % year - over - year to $ 39.1 million Subscriptions revenue increased 26 % year - over - year to $ 63.8 million MCLEAN , Va . , May 06 , 2021 ( GLOBE NEWSWIRE ) -- Appian ( Nasdaq : APPN ) today announced financial results for the first quarter ended March 31 , 2021 . " Once again , we exceeded our guidance , grew cloud subscription revenue by 38 % , and set a new high mark for gross profit margin . Appian leads in unifying the Low - code Automation market and providing agility to our customers , " said Matt Calkins , CEO & Founder . First Quarter 2021 Financial Highlights : • Revenue : Cloud subscription revenue was $ 39.1 million for the first quarter of 2021 , up 38 % compared to the first quarter of 2020. Total subscriptions revenue , which includes sales of our SaaS subscriptions , on - premises term license subscriptions , and maintenance and support , increased 26 % year - over - year to $ 63.8 million for the first quarter of 2021 . Professional services revenue was $ 25.1 million for the first quarter of 2021 , compared to $ 28.4 million for the first quarter of 2020. Total revenue was $ 88.9 million for the first quarter of 2021 , up 13 % compared to the first quarter of 2020. Cloud subscription revenue retention rate was 118 % as of March 31 , 2021 . Operating loss and non - GAAP operating loss : GAAP operating loss was $ ( 10.5 ) million for the first quarter of 2021 , compared to $ ( 8.6 ) million for the first quarter of 2020. Non - GAAP operating loss was $ ( 0.9 ) million for the first quarter of 2021 , compared to $ ( 5.1 ) million for the first quarter of 2020 . • Net loss and non - GAAP net loss : GAAP net loss was $ ( 13.6 ) million for the first quarter of 2021 , compared to $ ( 11.7 ) million for the first quarter of 2020. GAAP net loss per share was $ ( 0.19 ) for the first quarter of 2021 , based on 70.7 million weighted - average shares outstanding , compared to $ ( 0.17 ) for the first quarter of 2020 , based on 67.5 million weighted average shares outstanding . Non - GAAP net loss was $ ( 4.0 ) million for the first quarter of 2021 , compared to $ ( 8.2 ) million for the first quarter of 2020. Non - GAAP net loss per share was $ ( 0.06 ) for the first quarter of 2021 , based on 70.7 million basic and diluted shares outstanding , compared to the $ ( 0.12 ) net loss per share for the first quarter of 2020 , based on 67.5 million basic and diluted shares outstanding . • Adjusted EBITDA : Adjusted EBITDA was $ 0.4 million for the first quarter of 2021 , compared to adjusted EBITDA loss of $ ( 3.6 ) million for the first quarter of 2020 . • Balance sheet and cash flows : As of March 31 , 2021 , Appian had total cash , cash equivalents , and investments of $ 255.1 million . Net cash used in operating activities was $ ( 2.8 ) million for the three months ended March 31 , 2021 compared to $ ( 3.9 ) million of net cash used in operating activities for the same period in 2020 . A reconciliation of GAAP to non - GAAP financial measures has been provided in the tables following the financial statements in this press release . An explanation of these measures is also included below under the heading " Non - GAAP Financial Measures . " First Quarter 2021 Business Highlights : • Appian announced the appointment of Denise Broady as Chief Marketing Officer . Accenture selected Appian as a Core Partner in the INTIENT Network for Life Sciences . • Appian named a 2021 Gartner Peer Insights customers ' choice for enterprise low - code application platforms . • HP Hood deployed Appian Workforce Safety Solution with Vaccination Insights . • The University of Texas at Dallas integrated the Appian platform into the core curriculum of its new Intelligent Automation course . Financial Outlook : As of May 6 , 2021 , guidance for 2021 is as follows : • Second Quarter 2021 Guidance : o Cloud subscription revenue is expected to be in the range of $ 41.0 million and $ 41.5 million , representing year - over - year growth of between 39 % and 40 % .