APPIAN CORP
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
APPN$52.35+2.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(111,441) | $(150,920) | $(88,641) |
| Adjustments to reconcile net loss to net cash used by operating activities: | |||
| Stock-based compensation | 43,387 | 38,830 | 23,844 |
| Depreciation expense and amortization of intangible assets | 9,473 | 7,297 | 5,743 |
| Bad debt expense | 1,091 | 1,298 | 410 |
| Amortization of debt issuance costs | 444 | 43 | — |
| Loss on disposal of property and equipment | — | 3 | 79 |
| Deferred income taxes | (1,541) | (1,089) | (498) |
| Foreign currency transaction gains, net | (12,263) | — | — |
| Changes in assets and liabilities: | |||
| Accounts receivable | (1,868) | (37,922) | (33,904) |
| Prepaid expenses and other assets | (54,753) | (2,027) | 2,094 |
| Deferred commissions | (8,043) | (12,298) | (21,588) |
| Accounts payable and accrued expenses | (1,394) | (3,289) | 11,467 |
| Accrued compensation and related benefits | (3,157) | 6,582 | 12,598 |
| Other current and non-current liabilities | (1,134) | (264) | (444) |
| Deferred revenue | 28,668 | 47,534 | 33,378 |
| Operating lease assets and liabilities | 2,089 | (329) | 1,544 |
| Net cash used by operating activities | (110,442) | (106,551) | (53,918) |
| Cash flows from investing activities: | |||
| Proceeds from maturities of investments | 91,670 | 84,642 | 120,593 |
| Purchases of investments | (53,443) | (65,283) | (41,870) |
| Purchases of property and equipment | (9,637) | (9,095) | (6,058) |
| Payments for acquisitions, net of cash acquired | — | — | (30,729) |
| Net cash provided by investing activities | 28,590 | 10,264 | 41,936 |
| Cash flows from financing activities: | |||
| Proceeds from borrowings | 92,000 | 120,000 | — |
| Payments for debt issuance costs | (276) | (1,940) | — |
| Debt repayments | (3,563) | (625) | — |
| Payments for employee taxes related to the net share settlement of equity awards | (9,748) | — | — |
| Proceeds from exercise of common stock options | 752 | 25,432 | 2,786 |
| Net cash provided by financing activities | 79,165 | 142,867 | 2,786 |
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash | 1,657 | (159) | 694 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (1,030) | 46,421 | (8,502) |
| Cash, cash equivalents, and restricted cash at beginning of period | 150,381 | 103,960 | 112,462 |
| Cash, cash equivalents, and restricted cash at end of period | $149,351 | $150,381 | $103,960 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $16,906 | $1,671 | $323 |
| Cash paid for income taxes | $3,999 | $1,239 | $1,505 |
| Supplemental non-cash investing and financing information: | |||
| Accrued capital expenditures | $654 | $1,774 | $379 |
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