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Why Appian Stock Sank Today

TheMotleyFool

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Shares of Appian (NASDAQ: APPN) sank by as much as 12% today after the company reported first-quarter earnings. The results were ahead of expectations, but guidance was lacking. As of 12 p.m. EDT, the stock had somewhat recovered and was down just 4%.

Revenue in the first quarter was $88.9 million, beating the consensus estimate of $82.7 million. That resulted in an adjusted net loss per share of $0.06, which was better than the $0.14 per share in adjusted net losses that Wall Street analysts were modeling for. The company, which operates a low-code automation technology platform, reported adjusted EBITDA of approximately $400,000.

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Source Fool.com

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