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Side-by-side financial comparison of APPIAN CORP (APPN) and H2O AMERICA (HTO). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $199.4M, roughly 1.0× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs -2.5%, a 10.6% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs 1.5%). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs 15.3%).
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.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
APPN vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $199.4M |
| Net Profit | $-5.1M | $16.2M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 16.6% |
| Net Margin | -2.5% | 8.1% |
| Revenue YoY | 21.7% | 1.5% |
| Net Profit YoY | 62.6% | -29.2% |
| EPS (diluted) | $-0.06 | $0.45 |
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 | $199.4M | ||
| Q3 25 | $187.0M | $243.5M | ||
| Q2 25 | $170.6M | $197.8M | ||
| Q1 25 | $166.4M | $164.9M | ||
| Q4 24 | $166.7M | $196.5M | ||
| Q3 24 | $154.1M | $216.7M | ||
| Q2 24 | $146.4M | $173.1M | ||
| Q1 24 | $149.8M | $150.0M |
| Q4 25 | $-5.1M | $16.2M | ||
| Q3 25 | $7.8M | $45.1M | ||
| Q2 25 | $-312.0K | $24.7M | ||
| Q1 25 | $-1.2M | $16.6M | ||
| Q4 24 | $-13.6M | $22.9M | ||
| Q3 24 | $-2.1M | $38.7M | ||
| Q2 24 | $-43.6M | $20.7M | ||
| Q1 24 | $-32.9M | $11.7M |
| 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% | 16.6% | ||
| Q3 25 | 7.0% | 26.5% | ||
| Q2 25 | -6.4% | 22.2% | ||
| Q1 25 | -0.5% | 21.8% | ||
| Q4 24 | 3.0% | 22.2% | ||
| Q3 24 | -4.6% | 26.9% | ||
| Q2 24 | -26.8% | 23.4% | ||
| Q1 24 | -13.0% | 18.6% |
| Q4 25 | -2.5% | 8.1% | ||
| Q3 25 | 4.2% | 18.5% | ||
| Q2 25 | -0.2% | 12.5% | ||
| Q1 25 | -0.7% | 10.0% | ||
| Q4 24 | -8.2% | 11.7% | ||
| Q3 24 | -1.4% | 17.8% | ||
| Q2 24 | -29.8% | 12.0% | ||
| Q1 24 | -22.0% | 7.8% |
| Q4 25 | $-0.06 | $0.45 | ||
| Q3 25 | $0.10 | $1.27 | ||
| Q2 25 | $0.00 | $0.71 | ||
| Q1 25 | $-0.02 | $0.49 | ||
| Q4 24 | $-0.18 | $0.70 | ||
| Q3 24 | $-0.03 | $1.17 | ||
| Q2 24 | $-0.60 | $0.64 | ||
| Q1 24 | $-0.45 | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | $240.8M | $1.9B |
| Stockholders' EquityBook value | $-47.0M | $1.5B |
| Total Assets | $691.4M | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $20.7M | ||
| Q3 25 | $191.6M | $11.3M | ||
| Q2 25 | $184.8M | $19.8M | ||
| Q1 25 | $199.7M | $23.7M | ||
| Q4 24 | $159.9M | $11.1M | ||
| Q3 24 | $99.2M | $4.0M | ||
| Q2 24 | $120.8M | $22.8M | ||
| Q1 24 | $170.1M | $4.5M |
| Q4 25 | $240.8M | $1.9B | ||
| Q3 25 | $245.7M | — | ||
| Q2 25 | $245.6M | — | ||
| Q1 25 | $248.0M | — | ||
| Q4 24 | $250.4M | $1.7B | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $254.0M | — | ||
| Q1 24 | $255.1M | — |
| Q4 25 | $-47.0M | $1.5B | ||
| Q3 25 | $-48.5M | $1.5B | ||
| Q2 25 | $-53.7M | $1.5B | ||
| Q1 25 | $-31.7M | $1.4B | ||
| Q4 24 | $-32.6M | $1.4B | ||
| Q3 24 | $-49.8M | $1.3B | ||
| Q2 24 | $-45.7M | $1.3B | ||
| Q1 24 | $-9.7M | $1.2B |
| Q4 25 | $691.4M | $5.1B | ||
| Q3 25 | $611.7M | $5.0B | ||
| Q2 25 | $590.7M | $4.8B | ||
| Q1 25 | $592.9M | $4.7B | ||
| Q4 24 | $621.0M | $4.7B | ||
| Q3 24 | $549.9M | $4.6B | ||
| Q2 24 | $554.6M | $4.4B | ||
| Q1 24 | $595.4M | $4.4B |
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| 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 | $63.5M |
| Free Cash FlowOCF − Capex | $270.0K | — |
| FCF MarginFCF / Revenue | 0.1% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $63.5M | ||
| Q3 25 | $18.7M | $77.3M | ||
| Q2 25 | $-1.9M | $60.8M | ||
| Q1 25 | $45.0M | $43.2M | ||
| Q4 24 | $13.9M | $41.5M | ||
| Q3 24 | $-8.2M | $53.5M | ||
| Q2 24 | $-17.6M | $49.3M | ||
| Q1 24 | $18.9M | $51.2M |
| 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 24 | $16.7M | — |
| 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 24 | 11.1% | — |
| 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 24 | 1.5% | — |
| Q4 25 | — | 3.92× | ||
| Q3 25 | 2.39× | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
