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Side-by-side financial comparison of APPIAN CORP (APPN) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $183.8M, roughly 1.1× Wheels Up Experience Inc.). APPIAN CORP runs the higher net margin — -2.5% vs -15.7%, a 13.2% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -10.2%). APPIAN CORP produced more free cash flow last quarter ($270.0K vs $-58.3M). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -3.4%).
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.
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
APPN vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $183.8M |
| Net Profit | $-5.1M | $-28.9M |
| Gross Margin | 64.8% | 14.3% |
| Operating Margin | -0.3% | -0.9% |
| Net Margin | -2.5% | -15.7% |
| Revenue YoY | 21.7% | -10.2% |
| Net Profit YoY | 62.6% | 67.0% |
| 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 | $183.8M | ||
| Q3 25 | $187.0M | $185.5M | ||
| Q2 25 | $170.6M | $189.6M | ||
| Q1 25 | $166.4M | $177.5M | ||
| Q4 24 | $166.7M | $204.8M | ||
| Q3 24 | $154.1M | $193.9M | ||
| Q2 24 | $146.4M | $196.3M | ||
| Q1 24 | $149.8M | $197.1M |
| Q4 25 | $-5.1M | $-28.9M | ||
| Q3 25 | $7.8M | $-83.7M | ||
| Q2 25 | $-312.0K | $-82.3M | ||
| Q1 25 | $-1.2M | $-99.3M | ||
| Q4 24 | $-13.6M | $-87.5M | ||
| Q3 24 | $-2.1M | $-57.7M | ||
| Q2 24 | $-43.6M | $-97.0M | ||
| Q1 24 | $-32.9M | $-97.4M |
| Q4 25 | 64.8% | 14.3% | ||
| Q3 25 | 75.8% | 6.8% | ||
| Q2 25 | 74.3% | 8.3% | ||
| Q1 25 | 76.6% | 10.8% | ||
| Q4 24 | 67.8% | 13.9% | ||
| Q3 24 | 75.9% | 13.9% | ||
| Q2 24 | 73.1% | 2.3% | ||
| Q1 24 | 74.6% | -0.6% |
| Q4 25 | -0.3% | -0.9% | ||
| Q3 25 | 7.0% | -33.1% | ||
| Q2 25 | -6.4% | -31.4% | ||
| Q1 25 | -0.5% | -45.5% | ||
| Q4 24 | 3.0% | -26.0% | ||
| Q3 24 | -4.6% | -21.6% | ||
| Q2 24 | -26.8% | -40.3% | ||
| Q1 24 | -13.0% | -42.9% |
| Q4 25 | -2.5% | -15.7% | ||
| Q3 25 | 4.2% | -45.1% | ||
| Q2 25 | -0.2% | -43.4% | ||
| Q1 25 | -0.7% | -55.9% | ||
| Q4 24 | -8.2% | -42.7% | ||
| Q3 24 | -1.4% | -29.8% | ||
| Q2 24 | -29.8% | -49.4% | ||
| Q1 24 | -22.0% | -49.4% |
| Q4 25 | $-0.06 | $-0.04 | ||
| Q3 25 | $0.10 | $-0.12 | ||
| Q2 25 | $0.00 | $-0.12 | ||
| Q1 25 | $-0.02 | $-0.14 | ||
| Q4 24 | $-0.18 | $-0.13 | ||
| Q3 24 | $-0.03 | $-0.08 | ||
| Q2 24 | $-0.60 | $-0.14 | ||
| Q1 24 | $-0.45 | $-0.14 |
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 | $133.9M |
| Total DebtLower is stronger | $240.8M | $671.3M |
| Stockholders' EquityBook value | $-47.0M | $-392.1M |
| Total Assets | $691.4M | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $133.9M | ||
| Q3 25 | $191.6M | $125.3M | ||
| Q2 25 | $184.8M | $107.0M | ||
| Q1 25 | $199.7M | $171.8M | ||
| Q4 24 | $159.9M | $216.4M | ||
| Q3 24 | $99.2M | $115.9M | ||
| Q2 24 | $120.8M | $141.5M | ||
| Q1 24 | $170.1M | $180.9M |
| Q4 25 | $240.8M | $671.3M | ||
| Q3 25 | $245.7M | $766.5M | ||
| Q2 25 | $245.6M | $770.5M | ||
| Q1 25 | $248.0M | $765.8M | ||
| Q4 24 | $250.4M | $761.3M | ||
| Q3 24 | $252.8M | $596.9M | ||
| Q2 24 | $254.0M | $597.4M | ||
| Q1 24 | $255.1M | $603.2M |
| Q4 25 | $-47.0M | $-392.1M | ||
| Q3 25 | $-48.5M | $-374.5M | ||
| Q2 25 | $-53.7M | $-347.8M | ||
| Q1 25 | $-31.7M | $-288.1M | ||
| Q4 24 | $-32.6M | $-202.1M | ||
| Q3 24 | $-49.8M | $-117.7M | ||
| Q2 24 | $-45.7M | $-72.2M | ||
| Q1 24 | $-9.7M | $936.0K |
| Q4 25 | $691.4M | $968.8M | ||
| Q3 25 | $611.7M | $973.0M | ||
| Q2 25 | $590.7M | $1.0B | ||
| Q1 25 | $592.9M | $1.1B | ||
| Q4 24 | $621.0M | $1.2B | ||
| Q3 24 | $549.9M | $1.0B | ||
| Q2 24 | $554.6M | $1.1B | ||
| Q1 24 | $595.4M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| Free Cash FlowOCF − Capex | $270.0K | $-58.3M |
| FCF MarginFCF / Revenue | 0.1% | -31.7% |
| Capex IntensityCapex / Revenue | 0.4% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $-18.4M | ||
| Q3 25 | $18.7M | $-37.1M | ||
| Q2 25 | $-1.9M | $-62.9M | ||
| Q1 25 | $45.0M | $-47.9M | ||
| Q4 24 | $13.9M | $37.9M | ||
| Q3 24 | $-8.2M | $-16.9M | ||
| Q2 24 | $-17.6M | $-25.2M | ||
| Q1 24 | $18.9M | $-73.8M |
| Q4 25 | $270.0K | $-58.3M | ||
| Q3 25 | $18.1M | $-60.4M | ||
| Q2 25 | $-3.1M | $-78.6M | ||
| Q1 25 | $44.3M | $-62.6M | ||
| Q4 24 | $13.4M | $-70.2M | ||
| Q3 24 | $-8.6M | $-21.9M | ||
| Q2 24 | $-18.3M | $-30.8M | ||
| Q1 24 | $16.7M | $-77.8M |
| Q4 25 | 0.1% | -31.7% | ||
| Q3 25 | 9.7% | -32.6% | ||
| Q2 25 | -1.8% | -41.5% | ||
| Q1 25 | 26.6% | -35.3% | ||
| Q4 24 | 8.0% | -34.3% | ||
| Q3 24 | -5.6% | -11.3% | ||
| Q2 24 | -12.5% | -15.7% | ||
| Q1 24 | 11.1% | -39.5% |
| Q4 25 | 0.4% | 21.7% | ||
| Q3 25 | 0.3% | 12.5% | ||
| Q2 25 | 0.7% | 8.3% | ||
| Q1 25 | 0.4% | 8.3% | ||
| Q4 24 | 0.3% | 52.8% | ||
| Q3 24 | 0.2% | 2.6% | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 1.5% | 2.0% |
| 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% |
UP
Segment breakdown not available.
