MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $42.4 million in its second quarter.
On a per-share basis, the McLean, Virginia-based company said it had a loss of 58 cents. Losses, adjusted for stock option expense and severance costs, came to 39 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The business process management software provider posted revenue of $127.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $123.9 million.
For the current quarter ending in September, Appian expects its results to range from a loss of 28 cents per share to a loss of 23 cents per share.
The company said it expects revenue in the range of $134 million to $136 million for the fiscal third quarter.
Appian expects full-year results to range from a loss of $1.16 per share to a loss of $1.10 per share, with revenue ranging from $538 million to $543 million.
Appian shares have increased 48% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.22, a drop of 13% in the last 12 months.
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