Appian Seizes a Low-Code Moment

"Digital transformation" has been one of the biggest buzzwords of 2020 in the business world. Cloud subscription revenue, Appian's most important business metric, rose 40% year over year to $34.3 million in the quarter, well ahead of the company's own guidance at $31.4 million to $31.9 million. Cloud subscription revenue retention was 115%, showing that existing customers are expanding deployments with the company, and Appian's 73% gross margin was a record and shows the company on a path toward profitability as its sales mix shifts from professional services to cloud-based subscriptions.