Demonstrações financeiras detalhadas de Appian Corporation (APPN): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Appian Corporation registou receitas de $726.9M no último exercício, com um CAGR de 5 anos de 19.0%.
Margens dos últimos 12 meses: margem bruta 73.1%, margem operacional 1.3%, margem líquida -1.3%.
Ao preço atual de $37.50, APPN apresenta lucros negativos (P/L não significativo) e um ROE de 16.36%. A capitalização de mercado é de $2.8B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $132.9M | $176.7M | $226.7M | $260.4M | $304.6M | $369.3M | $468.0M | $545.4M | $617.0M | $726.9M |
| Custo da Receita | $50.1M | $64.6M | $84.9M | $93.8M | $88.8M | $104.1M | $133.3M | $143.3M | $150.2M | $199.6M |
| Lucro Bruto | $82.8M | $112.1M | $141.8M | $166.5M | $215.8M | $265.2M | $334.7M | $402.0M | $466.8M | $527.3M |
| P&D | $23.0M | $34.8M | $44.7M | $58.0M | $70.2M | $97.5M | $139.2M | $153.1M | $155.0M | $172.2M |
| Despesas Gerais e Administrativas | $71.2M | $109.1M | $143.8M | $158.9M | $183.5M | $251.6M | $340.5M | $356.9M | $372.7M | $354.5M |
| Despesas Operacionais | $94.2M | $144.0M | $188.5M | $217.0M | $253.7M | $349.1M | $479.7M | $510.0M | $527.7M | $526.7M |
| Lucro Operacional | -$11.4M | -$31.8M | -$46.7M | -$50.5M | -$37.9M | -$83.9M | -$145.0M | -$108.0M | -$60.9M | $609000 |
| EBITDA | -$12.4M | -$28.9M | -$47.0M | -$44.8M | -$26.3M | -$81.7M | -$141.3M | -$80.9M | -$57.6M | $37.0M |
| Despesas com Juros | $982000 | $473000 | $198000 | $367000 | $478000 | $372000 | $1.7M | $17.9M | $23.6M | $20.9M |
| Lucro Antes de Impostos | -$14.1M | -$30.2M | -$49.2M | -$49.9M | -$32.6M | -$87.9M | -$150.2M | -$108.2M | -$91.2M | $6.4M |
| Imposto | -$1.7M | $761000 | $239000 | $820000 | $883000 | $778000 | $692000 | $3.2M | $1.1M | $5.2M |
| Lucro Líquido | -$12.5M | -$31.0M | -$49.5M | -$50.7M | -$33.5M | -$88.6M | -$150.9M | -$111.4M | -$92.3M | $1.2M |
| LPA | $-0.23 | $-0.63 | $-0.80 | $-0.77 | $-0.48 | $-1.25 | $-2.08 | $-1.52 | $-1.26 | $0.02 |
| LPA Diluído | $-0.23 | $-0.63 | $-0.80 | $-0.77 | $-0.48 | $-1.25 | $-2.08 | $-1.52 | $-1.26 | $0.02 |
| Ações em Circulação (Diluídas) | $54.7M | $49.5M | $62.1M | $65.5M | $69.1M | $71.0M | $72.5M | $73.1M | $73.0M | $74.6M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $187.0M | $202.9M | $202.2M | $203.3M |
| Lucro Bruto | $141.7M | $147.0M | $147.8M | $144.7M |
| Lucro Operacional | $13.1M | -$687000 | $3.2M | -$5.4M |
| EBITDA | $17.0M | $3.6M | $5.5M | -$1.5M |
| Lucro Líquido | $7.8M | -$5.1M | -$1.5M | -$11.8M |
| LPA | $0.10 | $-0.07 | $-0.02 | $-0.16 |
| LPA Diluído | $0.10 | $-0.07 | $-0.02 | $-0.16 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $31.1M | $73.8M | $94.9M | $159.8M | $112.5M | $100.8M | $148.1M | $149.4M | $118.6M | $135.8M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | $109.8M | $55.2M | $47.9M | $9.7M | $41.3M | $51.4M |
| Contas a Receber | $46.8M | $55.3M | $79.4M | $70.4M | $97.3M | $130.0M | $166.0M | $171.6M | $195.1M | $278.4M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $88.4M | $145.2M | $209.6M | $277.7M | $365.4M | $338.3M | $422.5M | $414.4M | $435.5M | $519.4M |
| Imobilizado | $3.1M | $2.7M | $7.5M | $63.8M | $66.1M | $64.8M | $79.1M | $82.7M | $68.2M | $60.2M |
| Ágio | 0 | 0 | 0 | 0 | $4.9M | $27.8M | $26.3M | $27.1M | $25.6M | $28.8M |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | $1.7M | $7.1M | $5.3M | $3.9M | $2.2M | $1.2M |
| Ativos Totais | $102.7M | $161.1M | $233.2M | $371.5M | $512.5M | $504.5M | $594.2M | $627.5M | $621.0M | $691.4M |
| Contas a Pagar | $5.1M | $5.2M | $9.2M | $5.2M | $3.0M | $5.8M | $8.0M | $6.2M | $4.3M | $6.7M |
| Dívida de Curto Prazo | $6.1M | 0 | 0 | 0 | 0 | 0 | $2.7M | $66.4M | $9.6M | $22.8M |
| Passivos Circulantes | $76.0M | $95.1M | $128.4M | $112.3M | $155.9M | $215.7M | $270.3M | $371.2M | $354.8M | $452.1M |
| Dívida de Longo Prazo | $13.9M | 0 | 0 | 0 | 0 | 0 | $115.4M | $140.2M | $240.8M | $276.9M |
| Passivos Totais | $110.8M | $115.5M | $160.0M | $166.2M | $215.9M | $270.6M | $448.5M | $575.2M | $653.7M | $738.4M |
| Reservas | -$64.8M | -$96.2M | -$145.6M | -$135.4M | -$168.9M | -$257.5M | -$408.5M | -$519.9M | -$612.2M | -$610.9M |
| Patrimônio Líquido | -$8.1M | $45.5M | $73.2M | $205.2M | $296.6M | $233.9M | $145.7M | $52.3M | -$32.6M | -$47.0M |
| Dívida Total | $20.0M | 0 | 0 | $52.1M | $58.1M | $56.9M | $184.0M | $277.4M | $315.0M | $345.4M |
| Dívida Líquida | -$11.1M | -$73.8M | -$94.9M | -$107.7M | -$164.2M | -$99.1M | -$12.0M | $118.3M | $155.1M | $158.2M |
| Capital de Giro | $12.4M | $50.1M | $81.2M | $165.4M | $209.5M | $122.5M | $152.2M | $43.2M | $80.8M | $67.3M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $125.2M | $135.8M | $150.0M | $121.1M |
| Ativos Totais | $611.7M | $691.4M | $623.4M | $585.7M |
| Passivos Totais | $660.3M | $738.4M | $682.3M | $690.9M |
| Patrimônio Líquido | -$48.5M | -$47.0M | -$59.0M | -$105.2M |
| Dívida Total | $306.6M | $345.4M | $295.2M | $295.3M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$12.5M | -$31.0M | -$49.5M | -$50.7M | -$33.5M | -$88.6M | -$150.9M | -$111.4M | -$92.3M | $1.2M |
| Depreciação e Amortização | $764000 | $886000 | $2.0M | $4.7M | $5.9M | $5.7M | $7.3M | $9.5M | $10.0M | $9.7M |
| Compensação em Ações | 0 | $13.0M | $16.1M | $16.4M | $15.3M | $23.8M | $38.8M | $43.4M | $39.0M | $41.5M |
| Variação Capital de Giro | $4.9M | $7.5M | $66000 | $20.7M | $3.9M | $5.1M | -$2.0M | -$39.6M | $26.4M | $33.4M |
| Fluxo de Caixa Operacional | -$7.8M | -$9.1M | -$31.3M | -$8.9M | -$7.6M | -$53.9M | -$106.6M | -$110.4M | $6.9M | $62.9M |
| CapEx | -$984000 | -$433000 | -$7.0M | -$32.4M | -$1.3M | -$6.1M | -$9.1M | -$9.6M | -$3.8M | -$3.3M |
| Aquisições | 0 | 0 | $4000 | 0 | -$6.1M | -$30.7M | 0 | 0 | 0 | 0 |
| Recompra de Ações | 0 | -$2.4M | 0 | 0 | 0 | 0 | 0 | 0 | -$50.0M | -$20.0M |
| Dividendos Pagos | 0 | -$7.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$8.7M | -$9.6M | -$38.3M | -$41.3M | -$8.9M | -$60.0M | -$115.6M | -$120.1M | $3.1M | $59.6M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $18.7M | $1.1M | $48.8M | $12.1M |
| CapEx | -$654000 | -$867000 | -$188000 | -$2.3M |
| Fluxo de Caixa Livre | $18.1M | $270000 | $48.6M | $9.8M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $10.3M | $10.5M | $11.9M | $10.6M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +33.0% | +28.3% | +14.8% | +17.0% | +21.2% | +26.7% | +16.5% | +13.1% | +17.8% |
| Crescimento Lucro Líquido (anual) | | -148.8% | -59.5% | -2.6% | +34.0% | -164.8% | -70.3% | +26.2% | +17.2% | +101.3% |
| Crescimento LPA (anual) | | -173.9% | -27.0% | +3.8% | +37.7% | -160.4% | -66.4% | +26.9% | +17.1% | +101.3% |
| Variação de Ações (anual) | | -9.5% | +25.5% | +5.4% | +5.5% | +2.9% | +2.0% | +0.9% | -0.2% | +2.3% |
| Crescimento FCF (anual) | | -9.4% | -301.0% | -7.9% | +78.5% | -576.1% | -92.8% | -3.8% | +102.6% | +1833.6% |
| Margem Bruta | 62.3% | 63.5% | 62.5% | 64.0% | 70.9% | 71.8% | 71.5% | 73.7% | 75.7% | 72.5% |
| Margem Operacional | -8.6% | -18.0% | -20.6% | -19.4% | -12.4% | -22.7% | -31.0% | -19.8% | -9.9% | 0.1% |
| Margem EBITDA | -9.3% | -16.3% | -20.7% | -17.2% | -8.6% | -22.1% | -30.2% | -14.8% | -9.3% | 5.1% |
| Margem Líquida | -9.4% | -17.5% | -21.8% | -19.5% | -11.0% | -24.0% | -32.2% | -20.4% | -15.0% | 0.2% |
| Margem FCF | -6.6% | -5.4% | -16.9% | -15.9% | -2.9% | -16.2% | -24.7% | -22.0% | 0.5% | 8.2% |
| Taxa Efetiva de Imposto | 11.9% | -2.5% | -0.5% | -1.6% | -2.7% | -0.9% | -0.5% | -3.0% | -1.2% | 80.9% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.16 | $-0.19 | $-0.62 | $-0.63 | $-0.13 | $-0.84 | $-1.60 | $-1.64 | $0.04 | $0.80 |
| Dividendo por Ação | $0.00 | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $54.7M | $49.5M | $62.1M | $65.5M | $69.1M | $71.0M | $72.5M | $73.1M | $73.0M | $74.0M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 16.36% |
| Retorno sobre capital investido | 5.13% |
| Retorno sobre ativos | -1.81% |
| Margem bruta | 73.08% |
| Margem operacional | 1.28% |
| Margem líquida | -1.34% |
Saúde financeira
| Dívida / Patrimônio | -2.81 |
| Liquidez corrente | 1.00 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 2.07 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -65.26 | -49.97 | -33.39 | -49.62 | -337.69 | -52.17 | -15.65 | -24.78 | -26.17 | 2120.96 |
| P/VP | -101.70 | 34.25 | 22.68 | 12.19 | 37.74 | 19.80 | 16.19 | 52.60 | -73.75 | -55.81 |
| P/V | 6.18 | 8.82 | 7.32 | 9.61 | 36.75 | 12.54 | 5.04 | 5.05 | 3.90 | 3.61 |
| Margem Bruta | 62.3% | 63.5% | 62.5% | 64.0% | 70.9% | 71.8% | 71.5% | 73.7% | 75.7% | 72.5% |
| Margem Operacional | -8.6% | -18.0% | -20.6% | -19.4% | -12.4% | -22.7% | -31.0% | -19.8% | -9.9% | 0.1% |
| Margem Líquida | -9.4% | -17.5% | -21.8% | -19.5% | -11.0% | -24.0% | -32.2% | -20.4% | -15.0% | 0.2% |