0001441683-26-000032
SEC filingAppian holds $150M cash, $56M securities, $238M net debt; $220M AWS commitment; $100M buyback authorized.
As of March 31, 2026, Appian held $150.0 million in cash and cash equivalents and $56.0 million in short-term investments and marketable securities, totaling $206.0 million in liquid assets. Total debt net of issuance costs was $238.4 million, comprising $177.1 million under the secured term loan facility and $62.0 million drawn on the $100.0 million revolving credit facility. The company reported a stockholders' deficit of $59.0 million, driven by an accumulated deficit of $612.4 million and $29.2 million in treasury stock. Deferred revenue (contract liabilities) stood at $327.3 million, of which $320.4 million is current.
Appian has a non-cancellable cloud hosting arrangement with Amazon Web Services (AWS) with total minimum purchase commitments of $220.0 million over five years. The agreement, amended in October 2024, requires minimum annual spending of $44.0 million from November 2024 through October 2029. Spending under this agreement was $16.2 million in Q1 2026. Operating lease commitments total $72.6 million through 2031, with imputed interest of $15.8 million, resulting in a net lease liability of $56.8 million. The company also has outstanding letters of credit of $7.9 million related to leased office spaces.
On February 17, 2026, the Board authorized a $50.0 million share repurchase program. In Q1 2026, Appian repurchased 0.8 million shares at an average price of $25.85, totaling $21.8 million. On May 5, 2026, the Board approved an additional $50.0 million, bringing total authorization to $100.0 million. No dividends were declared. Debt repayments totaled $2.5 million in Q1 2026. Capital expenditures were minimal at $0.2 million (0.1% of sales).
Appian operates as a single reportable segment. The CODM (CEO) evaluates performance using operating income and net loss. For Q1 2026, total revenue was $202.2 million, with domestic revenue of $126.1 million (62.4%) and international revenue of $76.0 million (37.6%). U.S. federal government agencies contributed 25.8% of total revenue. Long-lived assets in the U.S. totaled $47.4 million versus $10.8 million internationally.