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Side-by-side financial comparison of APPIAN CORP (APPN) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $202.9M, roughly 1.2× APPIAN CORP). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 21.7%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $270.0K). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 16.4%).
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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
APPN vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $253.4M |
| Net Profit | $-5.1M | — |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 28.7% |
| Net Margin | -2.5% | — |
| Revenue YoY | 21.7% | 62.7% |
| Net Profit YoY | 62.6% | — |
| EPS (diluted) | $-0.06 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $187.0M | $244.7M | ||
| Q2 25 | $170.6M | $203.3M | ||
| Q1 25 | $166.4M | $174.6M | ||
| Q4 24 | $166.7M | $155.8M | ||
| Q3 24 | $154.1M | $148.5M | ||
| Q2 24 | $146.4M | $131.1M | ||
| Q1 24 | $149.8M | $118.5M |
| Q4 25 | $-5.1M | — | ||
| Q3 25 | $7.8M | $51.5M | ||
| Q2 25 | $-312.0K | $46.5M | ||
| Q1 25 | $-1.2M | $42.9M | ||
| Q4 24 | $-13.6M | — | ||
| Q3 24 | $-2.1M | $30.5M | ||
| Q2 24 | $-43.6M | $25.7M | ||
| Q1 24 | $-32.9M | $26.4M |
| 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% | 28.7% | ||
| Q3 25 | 7.0% | 27.4% | ||
| Q2 25 | -6.4% | 29.5% | ||
| Q1 25 | -0.5% | 30.8% | ||
| Q4 24 | 3.0% | 28.9% | ||
| Q3 24 | -4.6% | 25.9% | ||
| Q2 24 | -26.8% | 25.5% | ||
| Q1 24 | -13.0% | 29.0% |
| Q4 25 | -2.5% | — | ||
| Q3 25 | 4.2% | 21.0% | ||
| Q2 25 | -0.2% | 22.9% | ||
| Q1 25 | -0.7% | 24.6% | ||
| Q4 24 | -8.2% | — | ||
| Q3 24 | -1.4% | 20.5% | ||
| Q2 24 | -29.8% | 19.6% | ||
| Q1 24 | -22.0% | 22.3% |
| Q4 25 | $-0.06 | $2.05 | ||
| Q3 25 | $0.10 | $1.87 | ||
| Q2 25 | $0.00 | $1.68 | ||
| Q1 25 | $-0.02 | $1.57 | ||
| Q4 24 | $-0.18 | $1.29 | ||
| Q3 24 | $-0.03 | $1.15 | ||
| Q2 24 | $-0.60 | $1.00 | ||
| Q1 24 | $-0.45 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $942.7M |
| Total Assets | $691.4M | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $106.9M | ||
| Q3 25 | $191.6M | $111.7M | ||
| Q2 25 | $184.8M | $81.3M | ||
| Q1 25 | $199.7M | $119.3M | ||
| Q4 24 | $159.9M | $80.4M | ||
| Q3 24 | $99.2M | $86.5M | ||
| Q2 24 | $120.8M | $47.8M | ||
| Q1 24 | $170.1M | $61.4M |
| 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 | $942.7M | ||
| Q3 25 | $-48.5M | $878.1M | ||
| Q2 25 | $-53.7M | $847.2M | ||
| Q1 25 | $-31.7M | $790.4M | ||
| Q4 24 | $-32.6M | $729.0M | ||
| Q3 24 | $-49.8M | $703.3M | ||
| Q2 24 | $-45.7M | $532.6M | ||
| Q1 24 | $-9.7M | $501.7M |
| Q4 25 | $691.4M | $3.1B | ||
| Q3 25 | $611.7M | $2.9B | ||
| Q2 25 | $590.7M | $2.8B | ||
| Q1 25 | $592.9M | $2.4B | ||
| Q4 24 | $621.0M | $2.3B | ||
| Q3 24 | $549.9M | $2.3B | ||
| Q2 24 | $554.6M | $2.0B | ||
| Q1 24 | $595.4M | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | $270.0K | $409.0M |
| FCF MarginFCF / Revenue | 0.1% | 161.4% |
| Capex IntensityCapex / Revenue | 0.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $409.1M | ||
| Q3 25 | $18.7M | $83.6M | ||
| Q2 25 | $-1.9M | $120.9M | ||
| Q1 25 | $45.0M | $87.2M | ||
| Q4 24 | $13.9M | $261.2M | ||
| Q3 24 | $-8.2M | $100.3M | ||
| Q2 24 | $-17.6M | $55.1M | ||
| Q1 24 | $18.9M | $33.1M |
| Q4 25 | $270.0K | $409.0M | ||
| Q3 25 | $18.1M | $83.6M | ||
| Q2 25 | $-3.1M | $120.8M | ||
| Q1 25 | $44.3M | $87.1M | ||
| Q4 24 | $13.4M | $260.9M | ||
| Q3 24 | $-8.6M | $100.1M | ||
| Q2 24 | $-18.3M | — | ||
| Q1 24 | $16.7M | — |
| Q4 25 | 0.1% | 161.4% | ||
| Q3 25 | 9.7% | 34.2% | ||
| Q2 25 | -1.8% | 59.4% | ||
| Q1 25 | 26.6% | 49.9% | ||
| Q4 24 | 8.0% | 167.5% | ||
| Q3 24 | -5.6% | 67.4% | ||
| Q2 24 | -12.5% | — | ||
| Q1 24 | 11.1% | — |
| Q4 25 | 0.4% | 0.1% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.7% | 0.0% | ||
| Q1 25 | 0.4% | 0.0% | ||
| Q4 24 | 0.3% | 0.2% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 0.5% | 0.0% | ||
| Q1 24 | 1.5% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | 1.63× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 2.14× | ||
| Q1 24 | — | 1.26× |
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% |
PLMR
Segment breakdown not available.
