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Side-by-side financial comparison of APPIAN CORP (APPN) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $202.9M, roughly 1.0× APPIAN CORP). APPIAN CORP runs the higher net margin — -2.5% vs -3.1%, a 0.6% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -6.7%). APPIAN CORP produced more free cash flow last quarter ($270.0K vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
APPN vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $207.0M |
| Net Profit | $-5.1M | $-6.4M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 2.2% |
| Net Margin | -2.5% | -3.1% |
| Revenue YoY | 21.7% | -6.7% |
| Net Profit YoY | 62.6% | -531.8% |
| EPS (diluted) | $-0.06 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $187.0M | $180.2M | ||
| Q2 25 | $170.6M | $207.4M | ||
| Q1 25 | $166.4M | $211.1M | ||
| Q4 24 | $166.7M | $221.9M | ||
| Q3 24 | $154.1M | $194.0M | ||
| Q2 24 | $146.4M | $172.5M | ||
| Q1 24 | $149.8M | $85.0M |
| Q4 25 | $-5.1M | $-6.4M | ||
| Q3 25 | $7.8M | $-76.7M | ||
| Q2 25 | $-312.0K | $-10.1M | ||
| Q1 25 | $-1.2M | $975.0K | ||
| Q4 24 | $-13.6M | $1.5M | ||
| Q3 24 | $-2.1M | $-9.3M | ||
| Q2 24 | $-43.6M | $-7.3M | ||
| Q1 24 | $-32.9M | $-2.1M |
| 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% | 2.2% | ||
| Q3 25 | 7.0% | -4.4% | ||
| Q2 25 | -6.4% | 0.3% | ||
| Q1 25 | -0.5% | 5.1% | ||
| Q4 24 | 3.0% | 5.5% | ||
| Q3 24 | -4.6% | -1.9% | ||
| Q2 24 | -26.8% | 0.6% | ||
| Q1 24 | -13.0% | -0.7% |
| Q4 25 | -2.5% | -3.1% | ||
| Q3 25 | 4.2% | -42.6% | ||
| Q2 25 | -0.2% | -4.9% | ||
| Q1 25 | -0.7% | 0.5% | ||
| Q4 24 | -8.2% | 0.7% | ||
| Q3 24 | -1.4% | -4.8% | ||
| Q2 24 | -29.8% | -4.3% | ||
| Q1 24 | -22.0% | -2.4% |
| Q4 25 | $-0.06 | $-0.50 | ||
| Q3 25 | $0.10 | $-2.75 | ||
| Q2 25 | $0.00 | $-0.59 | ||
| Q1 25 | $-0.02 | $-0.21 | ||
| Q4 24 | $-0.18 | $-0.18 | ||
| Q3 24 | $-0.03 | $-0.53 | ||
| Q2 24 | $-0.60 | $-0.38 | ||
| Q1 24 | $-0.45 | $-0.07 |
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 | $4.2M |
| Total DebtLower is stronger | $240.8M | $354.2M |
| Stockholders' EquityBook value | $-47.0M | $-75.8M |
| Total Assets | $691.4M | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $4.2M | ||
| Q3 25 | $191.6M | $5.5M | ||
| Q2 25 | $184.8M | $4.7M | ||
| Q1 25 | $199.7M | $21.4M | ||
| Q4 24 | $159.9M | $27.6M | ||
| Q3 24 | $99.2M | $28.2M | ||
| Q2 24 | $120.8M | $32.2M | ||
| Q1 24 | $170.1M | $15.4M |
| Q4 25 | $240.8M | $354.2M | ||
| Q3 25 | $245.7M | $355.0M | ||
| Q2 25 | $245.6M | $347.4M | ||
| Q1 25 | $248.0M | $348.3M | ||
| Q4 24 | $250.4M | $348.3M | ||
| Q3 24 | $252.8M | $349.1M | ||
| Q2 24 | $254.0M | $350.0M | ||
| Q1 24 | $255.1M | $73.5M |
| Q4 25 | $-47.0M | $-75.8M | ||
| Q3 25 | $-48.5M | $-61.5M | ||
| Q2 25 | $-53.7M | $23.0M | ||
| Q1 25 | $-31.7M | $40.5M | ||
| Q4 24 | $-32.6M | $45.9M | ||
| Q3 24 | $-49.8M | $51.4M | ||
| Q2 24 | $-45.7M | $68.1M | ||
| Q1 24 | $-9.7M | $68.3M |
| Q4 25 | $691.4M | $884.2M | ||
| Q3 25 | $611.7M | $879.5M | ||
| Q2 25 | $590.7M | $935.7M | ||
| Q1 25 | $592.9M | $956.0M | ||
| Q4 24 | $621.0M | $960.1M | ||
| Q3 24 | $549.9M | $953.5M | ||
| Q2 24 | $554.6M | $945.9M | ||
| Q1 24 | $595.4M | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $270.0K | $-329.0K |
| FCF MarginFCF / Revenue | 0.1% | -0.2% |
| Capex IntensityCapex / Revenue | 0.4% | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $13.1M | ||
| Q3 25 | $18.7M | $5.9M | ||
| Q2 25 | $-1.9M | $2.8M | ||
| Q1 25 | $45.0M | $8.5M | ||
| Q4 24 | $13.9M | $18.5M | ||
| Q3 24 | $-8.2M | $19.1M | ||
| Q2 24 | $-17.6M | $-3.8M | ||
| Q1 24 | $18.9M | $10.4M |
| Q4 25 | $270.0K | $-329.0K | ||
| Q3 25 | $18.1M | $-6.1M | ||
| Q2 25 | $-3.1M | $-15.0M | ||
| Q1 25 | $44.3M | $-5.8M | ||
| Q4 24 | $13.4M | $733.0K | ||
| Q3 24 | $-8.6M | $287.0K | ||
| Q2 24 | $-18.3M | $-23.0M | ||
| Q1 24 | $16.7M | $-5.4M |
| Q4 25 | 0.1% | -0.2% | ||
| Q3 25 | 9.7% | -3.4% | ||
| Q2 25 | -1.8% | -7.2% | ||
| Q1 25 | 26.6% | -2.7% | ||
| Q4 24 | 8.0% | 0.3% | ||
| Q3 24 | -5.6% | 0.1% | ||
| Q2 24 | -12.5% | -13.3% | ||
| Q1 24 | 11.1% | -6.4% |
| Q4 25 | 0.4% | 6.5% | ||
| Q3 25 | 0.3% | 6.7% | ||
| Q2 25 | 0.7% | 8.6% | ||
| Q1 25 | 0.4% | 6.8% | ||
| Q4 24 | 0.3% | 8.0% | ||
| Q3 24 | 0.2% | 9.7% | ||
| Q2 24 | 0.5% | 11.1% | ||
| Q1 24 | 1.5% | 18.6% |
| Q4 25 | — | — | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| 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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
