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Side-by-side financial comparison of APPIAN CORP (APPN) and Claritev Corp (CTEV). Click either name above to swap in a different company.
Claritev Corp is the larger business by last-quarter revenue ($246.6M vs $202.9M, roughly 1.2× APPIAN CORP). APPIAN CORP runs the higher net margin — -2.5% vs -32.7%, a 30.2% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs 6.2%). Claritev Corp produced more free cash flow last quarter ($36.4M vs $270.0K). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs 2.5%).
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.
APPN vs CTEV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $246.6M |
| Net Profit | $-5.1M | $-80.6M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | -3.1% |
| Net Margin | -2.5% | -32.7% |
| Revenue YoY | 21.7% | 6.2% |
| Net Profit YoY | 62.6% | 41.6% |
| EPS (diluted) | $-0.06 | $-4.88 |
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.
| Q4 25 | $202.9M | $246.6M | ||
| Q3 25 | $187.0M | $246.0M | ||
| Q2 25 | $170.6M | $241.6M | ||
| Q1 25 | $166.4M | $231.3M | ||
| Q4 24 | $166.7M | $232.1M | ||
| Q3 24 | $154.1M | $230.5M | ||
| Q2 24 | $146.4M | $233.5M | ||
| Q1 24 | $149.8M | $234.5M |
| Q4 25 | $-5.1M | $-80.6M | ||
| Q3 25 | $7.8M | $-69.8M | ||
| Q2 25 | $-312.0K | $-62.6M | ||
| Q1 25 | $-1.2M | $-71.3M | ||
| Q4 24 | $-13.6M | $-138.0M | ||
| Q3 24 | $-2.1M | $-391.4M | ||
| Q2 24 | $-43.6M | $-576.7M | ||
| Q1 24 | $-32.9M | $-539.7M |
| Q4 25 | 64.8% | — | ||
| Q3 25 | 75.8% | — | ||
| Q2 25 | 74.3% | — | ||
| Q1 25 | 76.6% | — | ||
| Q4 24 | 67.8% | — | ||
| Q3 24 | 75.9% | — | ||
| Q2 24 | 73.1% | — | ||
| Q1 24 | 74.6% | — |
| Q4 25 | -0.3% | -3.1% | ||
| Q3 25 | 7.0% | 4.1% | ||
| Q2 25 | -6.4% | 6.9% | ||
| Q1 25 | -0.5% | 4.2% | ||
| Q4 24 | 3.0% | -17.8% | ||
| Q3 24 | -4.6% | -146.7% | ||
| Q2 24 | -26.8% | -224.4% | ||
| Q1 24 | -13.0% | -207.4% |
| Q4 25 | -2.5% | -32.7% | ||
| Q3 25 | 4.2% | -28.4% | ||
| Q2 25 | -0.2% | -25.9% | ||
| Q1 25 | -0.7% | -30.8% | ||
| Q4 24 | -8.2% | -59.4% | ||
| Q3 24 | -1.4% | -169.8% | ||
| Q2 24 | -29.8% | -247.0% | ||
| Q1 24 | -22.0% | -230.1% |
| Q4 25 | $-0.06 | $-4.88 | ||
| Q3 25 | $0.10 | $-4.23 | ||
| Q2 25 | $0.00 | $-3.81 | ||
| Q1 25 | $-0.02 | $-4.38 | ||
| Q4 24 | $-0.18 | $-8.49 | ||
| Q3 24 | $-0.03 | $-24.25 | ||
| Q2 24 | $-0.60 | $-35.78 | ||
| Q1 24 | $-0.45 | $-33.40 |
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 | $16.8M |
| Total DebtLower is stronger | $240.8M | $4.6B |
| Stockholders' EquityBook value | $-47.0M | $-173.9M |
| Total Assets | $691.4M | $4.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $16.8M | ||
| Q3 25 | $191.6M | $39.2M | ||
| Q2 25 | $184.8M | $56.4M | ||
| Q1 25 | $199.7M | $23.1M | ||
| Q4 24 | $159.9M | $16.8M | ||
| Q3 24 | $99.2M | $86.6M | ||
| Q2 24 | $120.8M | $48.8M | ||
| Q1 24 | $170.1M | $58.7M |
| Q4 25 | $240.8M | $4.6B | ||
| Q3 25 | $245.7M | $4.5B | ||
| Q2 25 | $245.6M | $4.5B | ||
| Q1 25 | $248.0M | $4.5B | ||
| Q4 24 | $250.4M | $4.5B | ||
| Q3 24 | $252.8M | $4.5B | ||
| Q2 24 | $254.0M | $4.5B | ||
| Q1 24 | $255.1M | $4.5B |
| Q4 25 | $-47.0M | $-173.9M | ||
| Q3 25 | $-48.5M | $-101.8M | ||
| Q2 25 | $-53.7M | $-39.9M | ||
| Q1 25 | $-31.7M | $14.8M | ||
| Q4 24 | $-32.6M | $84.0M | ||
| Q3 24 | $-49.8M | $207.6M | ||
| Q2 24 | $-45.7M | $603.4M | ||
| Q1 24 | $-9.7M | $1.2B |
| Q4 25 | $691.4M | $4.9B | ||
| Q3 25 | $611.7M | $5.0B | ||
| Q2 25 | $590.7M | $5.1B | ||
| Q1 25 | $592.9M | $5.1B | ||
| Q4 24 | $621.0M | $5.2B | ||
| Q3 24 | $549.9M | $5.3B | ||
| Q2 24 | $554.6M | $5.7B | ||
| Q1 24 | $595.4M | $6.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 304.87× | ||
| Q4 24 | — | 53.67× | ||
| Q3 24 | — | 21.73× | ||
| Q2 24 | — | 7.48× | ||
| Q1 24 | — | 3.85× |
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 | $66.3M |
| Free Cash FlowOCF − Capex | $270.0K | $36.4M |
| FCF MarginFCF / Revenue | 0.1% | 14.8% |
| Capex IntensityCapex / Revenue | 0.4% | 12.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $66.3M | ||
| Q3 25 | $18.7M | $19.9M | ||
| Q2 25 | $-1.9M | $61.2M | ||
| Q1 25 | $45.0M | $-30.1M | ||
| Q4 24 | $13.9M | $-33.4M | ||
| Q3 24 | $-8.2M | $72.8M | ||
| Q2 24 | $-17.6M | $18.5M | ||
| Q1 24 | $18.9M | $49.7M |
| Q4 25 | $270.0K | $36.4M | ||
| Q3 25 | $18.1M | $-16.3M | ||
| Q2 25 | $-3.1M | $36.6M | ||
| Q1 25 | $44.3M | $-68.9M | ||
| Q4 24 | $13.4M | $-63.8M | ||
| Q3 24 | $-8.6M | $41.1M | ||
| Q2 24 | $-18.3M | $-7.0M | ||
| Q1 24 | $16.7M | $19.2M |
| Q4 25 | 0.1% | 14.8% | ||
| Q3 25 | 9.7% | -6.6% | ||
| Q2 25 | -1.8% | 15.2% | ||
| Q1 25 | 26.6% | -29.8% | ||
| Q4 24 | 8.0% | -27.5% | ||
| Q3 24 | -5.6% | 17.8% | ||
| Q2 24 | -12.5% | -3.0% | ||
| Q1 24 | 11.1% | 8.2% |
| Q4 25 | 0.4% | 12.1% | ||
| Q3 25 | 0.3% | 14.7% | ||
| Q2 25 | 0.7% | 10.2% | ||
| Q1 25 | 0.4% | 16.8% | ||
| Q4 24 | 0.3% | 13.1% | ||
| Q3 24 | 0.2% | 13.8% | ||
| Q2 24 | 0.5% | 10.9% | ||
| Q1 24 | 1.5% | 13.0% |
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
CTEV
Segment breakdown not available.
