APPIAN CORPORATION

The business, in plain English

APPIAN CORPORATION booked $727M of revenue in FY2025 in the Technology sector and kept 72.5% of it as gross profit — a high-margin business by that measure. After every other cost, 0.2% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $111M (FY2015) to $727M (FY2025) — about 20.7% a year compounded over 10 years.

It earned 0.7% on invested capital in the latest filed year, FY2025. Across the full 7-year measurable filed record, median ROIC was −49.8%. Over the v3 recent window (7 measurable filed years), median ROIC was −49.8%. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $241M of total debt in FY2025 against $7.6M of owner earnings — roughly 31.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

Put together: Pricing Power is the strongest of the five filters (96/100) and Returns on Capital the weakest (0/100), which is how APPN lands at 44/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.