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Side-by-side financial comparison of APPIAN CORP (APPN) and Donnelley Financial Solutions, Inc. (DFIN). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $172.5M, roughly 1.2× Donnelley Financial Solutions, Inc.). Donnelley Financial Solutions, Inc. runs the higher net margin — 3.6% vs -2.5%, a 6.1% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs 10.4%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $270.0K). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -7.9%).
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.
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
APPN vs DFIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $172.5M |
| Net Profit | $-5.1M | $6.2M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 8.3% |
| Net Margin | -2.5% | 3.6% |
| Revenue YoY | 21.7% | 10.4% |
| Net Profit YoY | 62.6% | -1.6% |
| EPS (diluted) | $-0.06 | $0.31 |
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 | $172.5M | ||
| Q3 25 | $187.0M | $175.3M | ||
| Q2 25 | $170.6M | $218.1M | ||
| Q1 25 | $166.4M | $201.1M | ||
| Q4 24 | $166.7M | $156.3M | ||
| Q3 24 | $154.1M | $179.5M | ||
| Q2 24 | $146.4M | $242.7M | ||
| Q1 24 | $149.8M | $203.4M |
| Q4 25 | $-5.1M | $6.2M | ||
| Q3 25 | $7.8M | $-40.9M | ||
| Q2 25 | $-312.0K | $36.1M | ||
| Q1 25 | $-1.2M | $31.0M | ||
| Q4 24 | $-13.6M | $6.3M | ||
| Q3 24 | $-2.1M | $8.7M | ||
| Q2 24 | $-43.6M | $44.1M | ||
| Q1 24 | $-32.9M | $33.3M |
| 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% | 8.3% | ||
| Q3 25 | 7.0% | 16.1% | ||
| Q2 25 | -6.4% | 24.2% | ||
| Q1 25 | -0.5% | 22.8% | ||
| Q4 24 | 3.0% | 6.0% | ||
| Q3 24 | -4.6% | 10.1% | ||
| Q2 24 | -26.8% | 26.6% | ||
| Q1 24 | -13.0% | 21.9% |
| Q4 25 | -2.5% | 3.6% | ||
| Q3 25 | 4.2% | -23.3% | ||
| Q2 25 | -0.2% | 16.6% | ||
| Q1 25 | -0.7% | 15.4% | ||
| Q4 24 | -8.2% | 4.0% | ||
| Q3 24 | -1.4% | 4.8% | ||
| Q2 24 | -29.8% | 18.2% | ||
| Q1 24 | -22.0% | 16.4% |
| Q4 25 | $-0.06 | $0.31 | ||
| Q3 25 | $0.10 | $-1.49 | ||
| Q2 25 | $0.00 | $1.28 | ||
| Q1 25 | $-0.02 | $1.05 | ||
| Q4 24 | $-0.18 | $0.21 | ||
| Q3 24 | $-0.03 | $0.29 | ||
| Q2 24 | $-0.60 | $1.47 | ||
| Q1 24 | $-0.45 | $1.09 |
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 | $24.5M |
| Total DebtLower is stronger | $240.8M | $171.3M |
| Stockholders' EquityBook value | $-47.0M | $379.2M |
| Total Assets | $691.4M | $800.4M |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $24.5M | ||
| Q3 25 | $191.6M | $22.7M | ||
| Q2 25 | $184.8M | $33.8M | ||
| Q1 25 | $199.7M | $16.2M | ||
| Q4 24 | $159.9M | $57.3M | ||
| Q3 24 | $99.2M | $33.6M | ||
| Q2 24 | $120.8M | $35.0M | ||
| Q1 24 | $170.1M | $43.7M |
| Q4 25 | $240.8M | $171.3M | ||
| Q3 25 | $245.7M | $154.7M | ||
| Q2 25 | $245.6M | $190.1M | ||
| Q1 25 | $248.0M | $189.5M | ||
| Q4 24 | $250.4M | $124.7M | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $254.0M | — | ||
| Q1 24 | $255.1M | — |
| Q4 25 | $-47.0M | $379.2M | ||
| Q3 25 | $-48.5M | $423.1M | ||
| Q2 25 | $-53.7M | $432.1M | ||
| Q1 25 | $-31.7M | $419.9M | ||
| Q4 24 | $-32.6M | $436.1M | ||
| Q3 24 | $-49.8M | $444.5M | ||
| Q2 24 | $-45.7M | $441.5M | ||
| Q1 24 | $-9.7M | $408.9M |
| Q4 25 | $691.4M | $800.4M | ||
| Q3 25 | $611.7M | $816.3M | ||
| Q2 25 | $590.7M | $874.7M | ||
| Q1 25 | $592.9M | $852.8M | ||
| Q4 24 | $621.0M | $841.6M | ||
| Q3 24 | $549.9M | $843.6M | ||
| Q2 24 | $554.6M | $882.9M | ||
| Q1 24 | $595.4M | $867.8M |
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $59.8M |
| Free Cash FlowOCF − Capex | $270.0K | $47.9M |
| FCF MarginFCF / Revenue | 0.1% | 27.8% |
| Capex IntensityCapex / Revenue | 0.4% | 6.9% |
| Cash ConversionOCF / Net Profit | — | 9.65× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $59.8M | ||
| Q3 25 | $18.7M | $74.4M | ||
| Q2 25 | $-1.9M | $68.4M | ||
| Q1 25 | $45.0M | $-37.7M | ||
| Q4 24 | $13.9M | $56.4M | ||
| Q3 24 | $-8.2M | $86.4M | ||
| Q2 24 | $-17.6M | $56.2M | ||
| Q1 24 | $18.9M | $-27.9M |
| Q4 25 | $270.0K | $47.9M | ||
| Q3 25 | $18.1M | $59.2M | ||
| Q2 25 | $-3.1M | $51.7M | ||
| Q1 25 | $44.3M | $-51.0M | ||
| Q4 24 | $13.4M | $41.3M | ||
| Q3 24 | $-8.6M | $67.3M | ||
| Q2 24 | $-18.3M | $36.8M | ||
| Q1 24 | $16.7M | $-40.2M |
| Q4 25 | 0.1% | 27.8% | ||
| Q3 25 | 9.7% | 33.8% | ||
| Q2 25 | -1.8% | 23.7% | ||
| Q1 25 | 26.6% | -25.4% | ||
| Q4 24 | 8.0% | 26.4% | ||
| Q3 24 | -5.6% | 37.5% | ||
| Q2 24 | -12.5% | 15.2% | ||
| Q1 24 | 11.1% | -19.8% |
| Q4 25 | 0.4% | 6.9% | ||
| Q3 25 | 0.3% | 8.7% | ||
| Q2 25 | 0.7% | 7.7% | ||
| Q1 25 | 0.4% | 6.6% | ||
| Q4 24 | 0.3% | 9.7% | ||
| Q3 24 | 0.2% | 10.6% | ||
| Q2 24 | 0.5% | 8.0% | ||
| Q1 24 | 1.5% | 6.0% |
| Q4 25 | — | 9.65× | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | 1.89× | ||
| Q1 25 | — | -1.22× | ||
| Q4 24 | — | 8.95× | ||
| Q3 24 | — | 9.93× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | — | -0.84× |
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% |
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
