Why Appian Is Buying a Process Mining Company

Despite strong results, shares of Appian (NASDAQ: APPN) slipped following the company's second-quarter earnings on Aug. 6.

The cloud-based low-code software company reported a 24% increase in overall revenue to $83 million, ahead of estimates at $79.1 million. Cloud-based subscription revenue -- the part of the business the company is most focused on -- jumped 44% to $42.5 million, its fastest growth in that category in several quarters.

On the bottom line, the company's adjusted loss per share expanded from $0.12 to $0.24, which was just shy of estimates at $0.23, as Appian stepped up investments in sales and marketing and other corporate expenses.

Source Fool.com