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Side-by-side financial comparison of APPIAN CORP (APPN) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $142.9M, roughly 1.4× Piedmont Realty Trust, Inc.). APPIAN CORP runs the higher net margin — -2.5% vs -30.3%, a 27.8% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -0.3%). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -0.6%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
APPN vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $142.9M |
| Net Profit | $-5.1M | $-43.2M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | — |
| Net Margin | -2.5% | -30.3% |
| Revenue YoY | 21.7% | -0.3% |
| Net Profit YoY | 62.6% | -44.3% |
| EPS (diluted) | $-0.06 | $-0.34 |
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 | $142.9M | ||
| Q3 25 | $187.0M | $139.2M | ||
| Q2 25 | $170.6M | $140.3M | ||
| Q1 25 | $166.4M | $142.7M | ||
| Q4 24 | $166.7M | $143.2M | ||
| Q3 24 | $154.1M | $139.3M | ||
| Q2 24 | $146.4M | $143.3M | ||
| Q1 24 | $149.8M | $144.5M |
| Q4 25 | $-5.1M | $-43.2M | ||
| Q3 25 | $7.8M | $-13.5M | ||
| Q2 25 | $-312.0K | $-16.8M | ||
| Q1 25 | $-1.2M | $-10.1M | ||
| Q4 24 | $-13.6M | $-30.0M | ||
| Q3 24 | $-2.1M | $-11.5M | ||
| Q2 24 | $-43.6M | $-9.8M | ||
| Q1 24 | $-32.9M | $-27.8M |
| 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% | — | ||
| Q2 25 | -6.4% | — | ||
| Q1 25 | -0.5% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | -4.6% | — | ||
| Q2 24 | -26.8% | — | ||
| Q1 24 | -13.0% | — |
| Q4 25 | -2.5% | -30.3% | ||
| Q3 25 | 4.2% | -9.7% | ||
| Q2 25 | -0.2% | -12.0% | ||
| Q1 25 | -0.7% | -7.1% | ||
| Q4 24 | -8.2% | -20.9% | ||
| Q3 24 | -1.4% | -8.3% | ||
| Q2 24 | -29.8% | -6.8% | ||
| Q1 24 | -22.0% | -19.2% |
| Q4 25 | $-0.06 | $-0.34 | ||
| Q3 25 | $0.10 | $-0.11 | ||
| Q2 25 | $0.00 | $-0.14 | ||
| Q1 25 | $-0.02 | $-0.08 | ||
| Q4 24 | $-0.18 | $-0.25 | ||
| Q3 24 | $-0.03 | $-0.09 | ||
| Q2 24 | $-0.60 | $-0.08 | ||
| Q1 24 | $-0.45 | $-0.22 |
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 | $731.0K |
| Total DebtLower is stronger | $240.8M | $2.2B |
| Stockholders' EquityBook value | $-47.0M | $1.5B |
| Total Assets | $691.4M | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $731.0K | ||
| Q3 25 | $191.6M | $3.0M | ||
| Q2 25 | $184.8M | $3.3M | ||
| Q1 25 | $199.7M | $2.9M | ||
| Q4 24 | $159.9M | $109.6M | ||
| Q3 24 | $99.2M | $133.6M | ||
| Q2 24 | $120.8M | $138.5M | ||
| Q1 24 | $170.1M | $3.5M |
| Q4 25 | $240.8M | $2.2B | ||
| Q3 25 | $245.7M | $2.2B | ||
| Q2 25 | $245.6M | $2.2B | ||
| Q1 25 | $248.0M | $2.2B | ||
| Q4 24 | $250.4M | $2.2B | ||
| Q3 24 | $252.8M | $2.2B | ||
| Q2 24 | $254.0M | $2.2B | ||
| Q1 24 | $255.1M | $2.1B |
| Q4 25 | $-47.0M | $1.5B | ||
| Q3 25 | $-48.5M | $1.5B | ||
| Q2 25 | $-53.7M | $1.5B | ||
| Q1 25 | $-31.7M | $1.6B | ||
| Q4 24 | $-32.6M | $1.6B | ||
| Q3 24 | $-49.8M | $1.6B | ||
| Q2 24 | $-45.7M | $1.7B | ||
| Q1 24 | $-9.7M | $1.7B |
| Q4 25 | $691.4M | $4.0B | ||
| Q3 25 | $611.7M | $4.0B | ||
| Q2 25 | $590.7M | $4.0B | ||
| Q1 25 | $592.9M | $4.0B | ||
| Q4 24 | $621.0M | $4.1B | ||
| Q3 24 | $549.9M | $4.1B | ||
| Q2 24 | $554.6M | $4.2B | ||
| Q1 24 | $595.4M | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
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 | $140.6M |
| Free Cash FlowOCF − Capex | $270.0K | — |
| FCF MarginFCF / Revenue | 0.1% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $140.6M | ||
| Q3 25 | $18.7M | $35.8M | ||
| Q2 25 | $-1.9M | $50.1M | ||
| Q1 25 | $45.0M | $3.7M | ||
| Q4 24 | $13.9M | $198.1M | ||
| Q3 24 | $-8.2M | $42.9M | ||
| Q2 24 | $-17.6M | $66.8M | ||
| Q1 24 | $18.9M | $23.4M |
| 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 | — | — | ||
| 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% |
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
