MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Thursday reported a loss of $32.9 million in its first quarter.
On a per-share basis, the McLean, Virginia-based company said it had a loss of 45 cents. Losses, adjusted for stock option expense and amortization costs, came to 24 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The business process management software provider posted revenue of $149.8 million in the period.
For the current quarter ending in June, Appian expects its results to range from a loss of 34 cents per share to a loss of 28 cents per share.
The company said it expects revenue in the range of $140 million to $144 million for the fiscal second quarter.
Appian expects full-year results to range from a loss of 85 cents per share to a loss of 79 cents per share, with revenue ranging from $615 million to $617 million.
Appian shares have decreased 2.5% since the beginning of the year. The stock has fallen nearly 4% in the last 12 months.
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