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Side-by-side financial comparison of APPIAN CORP (APPN) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $124.7M, roughly 1.6× SMITH & WESSON BRANDS, INC.). SMITH & WESSON BRANDS, INC. runs the higher net margin — 1.5% vs -2.5%, a 4.1% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -3.9%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $270.0K). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
APPN vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $124.7M |
| Net Profit | $-5.1M | $1.9M |
| Gross Margin | 64.8% | 24.3% |
| Operating Margin | -0.3% | 3.3% |
| Net Margin | -2.5% | 1.5% |
| Revenue YoY | 21.7% | -3.9% |
| Net Profit YoY | 62.6% | -53.6% |
| EPS (diluted) | $-0.06 | $0.04 |
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 | $124.7M | ||
| Q3 25 | $187.0M | $85.1M | ||
| Q2 25 | $170.6M | $140.8M | ||
| Q1 25 | $166.4M | $115.9M | ||
| Q4 24 | $166.7M | $129.7M | ||
| Q3 24 | $154.1M | $88.3M | ||
| Q2 24 | $146.4M | $159.1M | ||
| Q1 24 | $149.8M | $137.5M |
| Q4 25 | $-5.1M | $1.9M | ||
| Q3 25 | $7.8M | $-3.4M | ||
| Q2 25 | $-312.0K | $8.6M | ||
| Q1 25 | $-1.2M | $2.1M | ||
| Q4 24 | $-13.6M | $4.5M | ||
| Q3 24 | $-2.1M | $-1.9M | ||
| Q2 24 | $-43.6M | $27.9M | ||
| Q1 24 | $-32.9M | $7.9M |
| Q4 25 | 64.8% | 24.3% | ||
| Q3 25 | 75.8% | 25.9% | ||
| Q2 25 | 74.3% | 28.8% | ||
| Q1 25 | 76.6% | 24.1% | ||
| Q4 24 | 67.8% | 26.6% | ||
| Q3 24 | 75.9% | 27.4% | ||
| Q2 24 | 73.1% | 35.5% | ||
| Q1 24 | 74.6% | 28.7% |
| Q4 25 | -0.3% | 3.3% | ||
| Q3 25 | 7.0% | -3.5% | ||
| Q2 25 | -6.4% | 9.3% | ||
| Q1 25 | -0.5% | 4.1% | ||
| Q4 24 | 3.0% | 5.8% | ||
| Q3 24 | -4.6% | -1.7% | ||
| Q2 24 | -26.8% | 17.4% | ||
| Q1 24 | -13.0% | 8.2% |
| Q4 25 | -2.5% | 1.5% | ||
| Q3 25 | 4.2% | -4.0% | ||
| Q2 25 | -0.2% | 6.1% | ||
| Q1 25 | -0.7% | 1.8% | ||
| Q4 24 | -8.2% | 3.5% | ||
| Q3 24 | -1.4% | -2.1% | ||
| Q2 24 | -29.8% | 17.5% | ||
| Q1 24 | -22.0% | 5.7% |
| Q4 25 | $-0.06 | $0.04 | ||
| Q3 25 | $0.10 | $-0.08 | ||
| Q2 25 | $0.00 | $0.19 | ||
| Q1 25 | $-0.02 | $0.05 | ||
| Q4 24 | $-0.18 | $0.10 | ||
| Q3 24 | $-0.03 | $-0.04 | ||
| Q2 24 | $-0.60 | $0.60 | ||
| Q1 24 | $-0.45 | $0.17 |
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 | $22.4M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $363.2M |
| Total Assets | $691.4M | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $22.4M | ||
| Q3 25 | $191.6M | $18.0M | ||
| Q2 25 | $184.8M | $25.2M | ||
| Q1 25 | $199.7M | $26.7M | ||
| Q4 24 | $159.9M | $39.1M | ||
| Q3 24 | $99.2M | $35.5M | ||
| Q2 24 | $120.8M | $60.8M | ||
| Q1 24 | $170.1M | $47.4M |
| 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 | $363.2M | ||
| Q3 25 | $-48.5M | $364.4M | ||
| Q2 25 | $-53.7M | $372.5M | ||
| Q1 25 | $-31.7M | $366.9M | ||
| Q4 24 | $-32.6M | $371.5M | ||
| Q3 24 | $-49.8M | $380.0M | ||
| Q2 24 | $-45.7M | $399.9M | ||
| Q1 24 | $-9.7M | $376.4M |
| Q4 25 | $691.4M | $548.6M | ||
| Q3 25 | $611.7M | $554.6M | ||
| Q2 25 | $590.7M | $559.6M | ||
| Q1 25 | $592.9M | $578.9M | ||
| Q4 24 | $621.0M | $587.4M | ||
| Q3 24 | $549.9M | $571.3M | ||
| Q2 24 | $554.6M | $577.4M | ||
| Q1 24 | $595.4M | $570.6M |
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 | $27.3M |
| Free Cash FlowOCF − Capex | $270.0K | $16.3M |
| FCF MarginFCF / Revenue | 0.1% | 13.1% |
| Capex IntensityCapex / Revenue | 0.4% | 8.8% |
| Cash ConversionOCF / Net Profit | — | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $27.3M | ||
| Q3 25 | $18.7M | $-8.1M | ||
| Q2 25 | $-1.9M | $40.8M | ||
| Q1 25 | $45.0M | $-9.8M | ||
| Q4 24 | $13.9M | $-7.4M | ||
| Q3 24 | $-8.2M | $-30.8M | ||
| Q2 24 | $-17.6M | $43.7M | ||
| Q1 24 | $18.9M | $25.2M |
| Q4 25 | $270.0K | $16.3M | ||
| Q3 25 | $18.1M | $-12.4M | ||
| Q2 25 | $-3.1M | $33.5M | ||
| Q1 25 | $44.3M | $-16.1M | ||
| Q4 24 | $13.4M | $-10.7M | ||
| Q3 24 | $-8.6M | $-35.5M | ||
| Q2 24 | $-18.3M | $38.2M | ||
| Q1 24 | $16.7M | $7.0M |
| Q4 25 | 0.1% | 13.1% | ||
| Q3 25 | 9.7% | -14.6% | ||
| Q2 25 | -1.8% | 23.8% | ||
| Q1 25 | 26.6% | -13.9% | ||
| Q4 24 | 8.0% | -8.3% | ||
| Q3 24 | -5.6% | -40.2% | ||
| Q2 24 | -12.5% | 24.0% | ||
| Q1 24 | 11.1% | 5.1% |
| Q4 25 | 0.4% | 8.8% | ||
| Q3 25 | 0.3% | 5.0% | ||
| Q2 25 | 0.7% | 5.2% | ||
| Q1 25 | 0.4% | 5.4% | ||
| Q4 24 | 0.3% | 2.5% | ||
| Q3 24 | 0.2% | 5.3% | ||
| Q2 24 | 0.5% | 3.5% | ||
| Q1 24 | 1.5% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | 4.73× | ||
| Q1 25 | — | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 3.20× |
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% |
SWBI
Segment breakdown not available.
