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MCLEAN, Va. (AP) — MCLEAN, Va. (AP) — Appian Corp. (APPN) on Tuesday reported a loss of $36.8 million in its first quarter.
The McLean, Virginia-based company said it had a loss of 51 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 27 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.
The business process management software provider posted revenue of $135.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $131.1 million.
For the current quarter ending in June, Appian expects its results to range from a loss of 46 cents per share to a loss of 40 cents per share.
The company said it expects revenue in the range of $123 million to $125 million for the fiscal second quarter.
Appian expects full-year results to range from a loss of $1.16 per share to a loss of $1.09 per share, with revenue ranging from $533 million to $538 million.
Appian shares have risen 9.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.64, a drop of 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a APPN">Zacks stock report on APPN at https://www.zacks.com/ap/APPN