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Side-by-side financial comparison of APPIAN CORP (APPN) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $122.1M, roughly 1.7× NOODLES & Co). APPIAN CORP runs the higher net margin — -2.5% vs -7.5%, a 5.0% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -4.1%). APPIAN CORP produced more free cash flow last quarter ($270.0K vs $-2.8M). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -1.2%).
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.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
APPN vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $122.1M |
| Net Profit | $-5.1M | $-9.2M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | -5.2% |
| Net Margin | -2.5% | -7.5% |
| Revenue YoY | 21.7% | -4.1% |
| Net Profit YoY | 62.6% | 32.8% |
| EPS (diluted) | $-0.06 | $-0.20 |
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 | — | ||
| Q3 25 | $187.0M | $122.1M | ||
| Q2 25 | $170.6M | $123.8M | ||
| Q1 25 | $166.4M | — | ||
| Q4 24 | $166.7M | $122.8M | ||
| Q3 24 | $154.1M | $127.4M | ||
| Q2 24 | $146.4M | $121.4M | ||
| Q1 24 | $149.8M | $124.3M |
| Q4 25 | $-5.1M | — | ||
| Q3 25 | $7.8M | $-9.2M | ||
| Q2 25 | $-312.0K | $-9.1M | ||
| Q1 25 | $-1.2M | — | ||
| Q4 24 | $-13.6M | $-6.8M | ||
| Q3 24 | $-2.1M | $-13.6M | ||
| Q2 24 | $-43.6M | $-6.1M | ||
| Q1 24 | $-32.9M | $-6.1M |
| 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% | — | ||
| Q3 25 | 7.0% | -5.2% | ||
| Q2 25 | -6.4% | -5.2% | ||
| Q1 25 | -0.5% | — | ||
| Q4 24 | 3.0% | -3.9% | ||
| Q3 24 | -4.6% | -9.0% | ||
| Q2 24 | -26.8% | -3.4% | ||
| Q1 24 | -13.0% | -3.7% |
| Q4 25 | -2.5% | — | ||
| Q3 25 | 4.2% | -7.5% | ||
| Q2 25 | -0.2% | -7.3% | ||
| Q1 25 | -0.7% | — | ||
| Q4 24 | -8.2% | -5.5% | ||
| Q3 24 | -1.4% | -10.7% | ||
| Q2 24 | -29.8% | -5.1% | ||
| Q1 24 | -22.0% | -4.9% |
| Q4 25 | $-0.06 | — | ||
| Q3 25 | $0.10 | $-0.20 | ||
| Q2 25 | $0.00 | $-0.20 | ||
| Q1 25 | $-0.02 | — | ||
| Q4 24 | $-0.18 | $-0.15 | ||
| Q3 24 | $-0.03 | $-0.30 | ||
| Q2 24 | $-0.60 | $-0.14 | ||
| Q1 24 | $-0.45 | $-1.64 |
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 | $4.7M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $-38.9M |
| Total Assets | $691.4M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | — | ||
| Q3 25 | $191.6M | $4.7M | ||
| Q2 25 | $184.8M | $1.4M | ||
| Q1 25 | $199.7M | — | ||
| Q4 24 | $159.9M | $3.3M | ||
| Q3 24 | $99.2M | $1.8M | ||
| Q2 24 | $120.8M | $1.3M | ||
| Q1 24 | $170.1M | $3.0M |
| 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 24 | $255.1M | — |
| Q4 25 | $-47.0M | — | ||
| Q3 25 | $-48.5M | $-38.9M | ||
| Q2 25 | $-53.7M | $-13.9M | ||
| Q1 25 | $-31.7M | — | ||
| Q4 24 | $-32.6M | $3.7M | ||
| Q3 24 | $-49.8M | $9.6M | ||
| Q2 24 | $-45.7M | $21.9M | ||
| Q1 24 | $-9.7M | $27.2M |
| Q4 25 | $691.4M | — | ||
| Q3 25 | $611.7M | $280.6M | ||
| Q2 25 | $590.7M | $319.4M | ||
| Q1 25 | $592.9M | — | ||
| Q4 24 | $621.0M | $340.5M | ||
| Q3 24 | $549.9M | $346.3M | ||
| Q2 24 | $554.6M | $360.4M | ||
| Q1 24 | $595.4M | $368.1M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | $270.0K | $-2.8M |
| FCF MarginFCF / Revenue | 0.1% | -2.3% |
| Capex IntensityCapex / Revenue | 0.4% | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | — | ||
| Q3 25 | $18.7M | $4.3M | ||
| Q2 25 | $-1.9M | $4.0M | ||
| Q1 25 | $45.0M | — | ||
| Q4 24 | $13.9M | $5.8M | ||
| Q3 24 | $-8.2M | $4.7M | ||
| Q2 24 | $-17.6M | $7.0M | ||
| Q1 24 | $18.9M | $164.0K |
| Q4 25 | $270.0K | — | ||
| Q3 25 | $18.1M | $-2.8M | ||
| Q2 25 | $-3.1M | $1.1M | ||
| Q1 25 | $44.3M | — | ||
| Q4 24 | $13.4M | $-1.3M | ||
| Q3 24 | $-8.6M | $-4.5M | ||
| Q2 24 | $-18.3M | $-1.6M | ||
| Q1 24 | $16.7M | $-15.2M |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 9.7% | -2.3% | ||
| Q2 25 | -1.8% | 0.9% | ||
| Q1 25 | 26.6% | — | ||
| Q4 24 | 8.0% | -1.1% | ||
| Q3 24 | -5.6% | -3.5% | ||
| Q2 24 | -12.5% | -1.4% | ||
| Q1 24 | 11.1% | -12.2% |
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.3% | 5.8% | ||
| Q2 25 | 0.7% | 2.4% | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.3% | 5.8% | ||
| Q3 24 | 0.2% | 7.2% | ||
| Q2 24 | 0.5% | 7.1% | ||
| Q1 24 | 1.5% | 12.3% |
| 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% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
