vs
Side-by-side financial comparison of APPIAN CORP (APPN) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($208.0M vs $202.9M, roughly 1.0× APPIAN CORP). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs -2.5%, a 18.8% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -10.9%). APPIAN CORP produced more free cash flow last quarter ($270.0K vs $-74.1M). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -3.2%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
APPN vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $208.0M |
| Net Profit | $-5.1M | $33.9M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 19.1% |
| Net Margin | -2.5% | 16.3% |
| Revenue YoY | 21.7% | -10.9% |
| Net Profit YoY | 62.6% | -14.2% |
| EPS (diluted) | $-0.06 | $5.15 |
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 | $208.0M | ||
| Q3 25 | $187.0M | $216.4M | ||
| Q2 25 | $170.6M | $210.5M | ||
| Q1 25 | $166.4M | $217.9M | ||
| Q4 24 | $166.7M | $233.5M | ||
| Q3 24 | $154.1M | $227.0M | ||
| Q2 24 | $146.4M | $224.4M | ||
| Q1 24 | $149.8M | $222.0M |
| Q4 25 | $-5.1M | $33.9M | ||
| Q3 25 | $7.8M | $31.3M | ||
| Q2 25 | $-312.0K | $42.7M | ||
| Q1 25 | $-1.2M | $28.1M | ||
| Q4 24 | $-13.6M | $39.5M | ||
| Q3 24 | $-2.1M | $49.1M | ||
| Q2 24 | $-43.6M | $26.0M | ||
| Q1 24 | $-32.9M | $37.9M |
| 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% | 19.1% | ||
| Q3 25 | 7.0% | 21.7% | ||
| Q2 25 | -6.4% | 21.5% | ||
| Q1 25 | -0.5% | 16.8% | ||
| Q4 24 | 3.0% | 21.7% | ||
| Q3 24 | -4.6% | 24.3% | ||
| Q2 24 | -26.8% | 19.7% | ||
| Q1 24 | -13.0% | 14.5% |
| Q4 25 | -2.5% | 16.3% | ||
| Q3 25 | 4.2% | 14.5% | ||
| Q2 25 | -0.2% | 20.3% | ||
| Q1 25 | -0.7% | 12.9% | ||
| Q4 24 | -8.2% | 16.9% | ||
| Q3 24 | -1.4% | 21.6% | ||
| Q2 24 | -29.8% | 11.6% | ||
| Q1 24 | -22.0% | 17.1% |
| Q4 25 | $-0.06 | $5.15 | ||
| Q3 25 | $0.10 | $4.65 | ||
| Q2 25 | $0.00 | $6.12 | ||
| Q1 25 | $-0.02 | $4.05 | ||
| Q4 24 | $-0.18 | $4.65 | ||
| Q3 24 | $-0.03 | $5.71 | ||
| Q2 24 | $-0.60 | $2.43 | ||
| Q1 24 | $-0.45 | $4.10 |
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 | — |
| Total DebtLower is stronger | $240.8M | $390.0M |
| Stockholders' EquityBook value | $-47.0M | $934.0M |
| Total Assets | $691.4M | $4.3B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | — | ||
| Q3 25 | $191.6M | — | ||
| Q2 25 | $184.8M | — | ||
| Q1 25 | $199.7M | — | ||
| Q4 24 | $159.9M | — | ||
| Q3 24 | $99.2M | — | ||
| Q2 24 | $120.8M | — | ||
| Q1 24 | $170.1M | — |
| Q4 25 | $240.8M | $390.0M | ||
| Q3 25 | $245.7M | $390.6M | ||
| Q2 25 | $245.6M | $231.3M | ||
| Q1 25 | $248.0M | $231.7M | ||
| Q4 24 | $250.4M | $232.1M | ||
| Q3 24 | $252.8M | $237.5M | ||
| Q2 24 | $254.0M | $247.6M | ||
| Q1 24 | $255.1M | $253.0M |
| Q4 25 | $-47.0M | $934.0M | ||
| Q3 25 | $-48.5M | $918.7M | ||
| Q2 25 | $-53.7M | $896.4M | ||
| Q1 25 | $-31.7M | $893.7M | ||
| Q4 24 | $-32.6M | $897.5M | ||
| Q3 24 | $-49.8M | $889.0M | ||
| Q2 24 | $-45.7M | $868.7M | ||
| Q1 24 | $-9.7M | $871.7M |
| Q4 25 | $691.4M | $4.3B | ||
| Q3 25 | $611.7M | $3.9B | ||
| Q2 25 | $590.7M | $3.7B | ||
| Q1 25 | $592.9M | $3.7B | ||
| Q4 24 | $621.0M | $4.0B | ||
| Q3 24 | $549.9M | $3.6B | ||
| Q2 24 | $554.6M | $3.6B | ||
| Q1 24 | $595.4M | $3.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | — | 0.29× |
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 | $-67.2M |
| Free Cash FlowOCF − Capex | $270.0K | $-74.1M |
| FCF MarginFCF / Revenue | 0.1% | -35.6% |
| Capex IntensityCapex / Revenue | 0.4% | 3.3% |
| Cash ConversionOCF / Net Profit | — | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $-67.2M | ||
| Q3 25 | $18.7M | $108.3M | ||
| Q2 25 | $-1.9M | $75.8M | ||
| Q1 25 | $45.0M | $-3.8M | ||
| Q4 24 | $13.9M | $1.8M | ||
| Q3 24 | $-8.2M | $69.1M | ||
| Q2 24 | $-17.6M | $70.0M | ||
| Q1 24 | $18.9M | $-34.5M |
| Q4 25 | $270.0K | $-74.1M | ||
| Q3 25 | $18.1M | $106.9M | ||
| Q2 25 | $-3.1M | $74.2M | ||
| Q1 25 | $44.3M | $-6.8M | ||
| Q4 24 | $13.4M | $-3.8M | ||
| Q3 24 | $-8.6M | $68.7M | ||
| Q2 24 | $-18.3M | $68.6M | ||
| Q1 24 | $16.7M | $-36.5M |
| Q4 25 | 0.1% | -35.6% | ||
| Q3 25 | 9.7% | 49.4% | ||
| Q2 25 | -1.8% | 35.2% | ||
| Q1 25 | 26.6% | -3.1% | ||
| Q4 24 | 8.0% | -1.6% | ||
| Q3 24 | -5.6% | 30.3% | ||
| Q2 24 | -12.5% | 30.6% | ||
| Q1 24 | 11.1% | -16.4% |
| Q4 25 | 0.4% | 3.3% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.7% | 0.7% | ||
| Q1 25 | 0.4% | 1.4% | ||
| Q4 24 | 0.3% | 2.4% | ||
| Q3 24 | 0.2% | 0.2% | ||
| Q2 24 | 0.5% | 0.6% | ||
| Q1 24 | 1.5% | 0.9% |
| Q4 25 | — | -1.99× | ||
| Q3 25 | 2.39× | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | — | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
