2 Under-the-Radar Growth Opportunities for Appian
Low-code software specialist Appian (NASDAQ: APPN) came into the second quarter growing briskly but prepared for an economic downturn.
The company acquired process-mining specialist Lana Labs a year ago, primarily to complete its low-code platform, but the acquisition also offers a selling point during tough times. Process mining can make a business more efficient and lower its costs, desirable attributes in any market, especially in a downturn.
Despite fears of a recession, Appian's second-quarter results show the company putting up consistent growth with no sign of headwinds. Cloud subscription revenue, the metric the company prioritizes, increased 34% year over year to $57.1 million, and overall revenue rose 33% to $110.1 million, beating estimates at $103.9 million. Growth from existing customers was solid, with a cloud subscription revenue retention rate of 116%.
Source Fool.com
