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Side-by-side financial comparison of APPIAN CORP (APPN) and BALCHEM CORP (BCPC). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $202.9M, roughly 1.3× APPIAN CORP). BALCHEM CORP runs the higher net margin — 14.9% vs -2.5%, a 17.4% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs 8.1%). BALCHEM CORP produced more free cash flow last quarter ($33.8M vs $270.0K). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs 7.5%).
Appian Corporation is an American cloud computing and enterprise software company headquartered in McLean, Virginia, part of the Dulles Technology Corridor. The company sells a platform as a service (PaaS) for building enterprise software applications. It is focused on low-code development, process mining, business process management, and case management markets in North America, Europe, the Middle East and Southeast Asia.
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
APPN vs BCPC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $270.7M |
| Net Profit | $-5.1M | $40.3M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 20.5% |
| Net Margin | -2.5% | 14.9% |
| Revenue YoY | 21.7% | 8.1% |
| Net Profit YoY | 62.6% | 8.7% |
| EPS (diluted) | $-0.06 | $1.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $270.7M | ||
| Q4 25 | $202.9M | $263.6M | ||
| Q3 25 | $187.0M | $267.6M | ||
| Q2 25 | $170.6M | $255.5M | ||
| Q1 25 | $166.4M | $250.5M | ||
| Q4 24 | $166.7M | $240.0M | ||
| Q3 24 | $154.1M | $239.9M | ||
| Q2 24 | $146.4M | $234.1M |
| Q1 26 | — | $40.3M | ||
| Q4 25 | $-5.1M | $39.2M | ||
| Q3 25 | $7.8M | $40.3M | ||
| Q2 25 | $-312.0K | $38.3M | ||
| Q1 25 | $-1.2M | $37.1M | ||
| Q4 24 | $-13.6M | $33.6M | ||
| Q3 24 | $-2.1M | $33.8M | ||
| Q2 24 | $-43.6M | $32.1M |
| Q1 26 | — | — | ||
| Q4 25 | 64.8% | 35.6% | ||
| Q3 25 | 75.8% | 35.7% | ||
| Q2 25 | 74.3% | 36.4% | ||
| Q1 25 | 76.6% | 35.2% | ||
| Q4 24 | 67.8% | 36.0% | ||
| Q3 24 | 75.9% | 35.6% | ||
| Q2 24 | 73.1% | 35.5% |
| Q1 26 | — | 20.5% | ||
| Q4 25 | -0.3% | 19.8% | ||
| Q3 25 | 7.0% | 20.4% | ||
| Q2 25 | -6.4% | 20.1% | ||
| Q1 25 | -0.5% | 20.4% | ||
| Q4 24 | 3.0% | 19.8% | ||
| Q3 24 | -4.6% | 20.0% | ||
| Q2 24 | -26.8% | 19.6% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | -2.5% | 14.9% | ||
| Q3 25 | 4.2% | 15.1% | ||
| Q2 25 | -0.2% | 15.0% | ||
| Q1 25 | -0.7% | 14.8% | ||
| Q4 24 | -8.2% | 14.0% | ||
| Q3 24 | -1.4% | 14.1% | ||
| Q2 24 | -29.8% | 13.7% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $-0.06 | $1.21 | ||
| Q3 25 | $0.10 | $1.24 | ||
| Q2 25 | $0.00 | $1.17 | ||
| Q1 25 | $-0.02 | $1.13 | ||
| Q4 24 | $-0.18 | $1.03 | ||
| Q3 24 | $-0.03 | $1.03 | ||
| Q2 24 | $-0.60 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $72.9M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $1.3B |
| Total Assets | $691.4M | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $72.9M | ||
| Q4 25 | $187.2M | $74.6M | ||
| Q3 25 | $191.6M | $65.1M | ||
| Q2 25 | $184.8M | $65.4M | ||
| Q1 25 | $199.7M | $49.9M | ||
| Q4 24 | $159.9M | $49.5M | ||
| Q3 24 | $99.2M | $73.7M | ||
| Q2 24 | $120.8M | $63.7M |
| Q1 26 | — | — | ||
| Q4 25 | $240.8M | — | ||
| Q3 25 | $245.7M | — | ||
| Q2 25 | $245.6M | — | ||
| Q1 25 | $248.0M | — | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $254.0M | — |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $-47.0M | $1.3B | ||
| Q3 25 | $-48.5M | $1.3B | ||
| Q2 25 | $-53.7M | $1.3B | ||
| Q1 25 | $-31.7M | $1.2B | ||
| Q4 24 | $-32.6M | $1.1B | ||
| Q3 24 | $-49.8M | $1.2B | ||
| Q2 24 | $-45.7M | $1.1B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $691.4M | $1.7B | ||
| Q3 25 | $611.7M | $1.7B | ||
| Q2 25 | $590.7M | $1.7B | ||
| Q1 25 | $592.9M | $1.6B | ||
| Q4 24 | $621.0M | $1.6B | ||
| Q3 24 | $549.9M | $1.6B | ||
| Q2 24 | $554.6M | $1.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1M | $40.1M |
| Free Cash FlowOCF − Capex | $270.0K | $33.8M |
| FCF MarginFCF / Revenue | 0.1% | 12.5% |
| Capex IntensityCapex / Revenue | 0.4% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 0.99× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.1M | ||
| Q4 25 | $1.1M | $67.3M | ||
| Q3 25 | $18.7M | $65.6M | ||
| Q2 25 | $-1.9M | $47.3M | ||
| Q1 25 | $45.0M | $36.5M | ||
| Q4 24 | $13.9M | $52.3M | ||
| Q3 24 | $-8.2M | $51.3M | ||
| Q2 24 | $-17.6M | $45.0M |
| Q1 26 | — | $33.8M | ||
| Q4 25 | $270.0K | — | ||
| Q3 25 | $18.1M | — | ||
| Q2 25 | $-3.1M | — | ||
| Q1 25 | $44.3M | — | ||
| Q4 24 | $13.4M | — | ||
| Q3 24 | $-8.6M | — | ||
| Q2 24 | $-18.3M | — |
| Q1 26 | — | 12.5% | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | -1.8% | — | ||
| Q1 25 | 26.6% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | -5.6% | — | ||
| Q2 24 | -12.5% | — |
| Q1 26 | — | 2.3% | ||
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.5% | — |
| Q1 26 | — | 0.99× | ||
| Q4 25 | — | 1.72× | ||
| Q3 25 | 2.39× | 1.63× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 1.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPN
| Subscriptions Software And Support | $162.3M | 80% |
| Professional Services | $40.6M | 20% |
BCPC
Segment breakdown not available.
