Appian Corp. APPN, +0.98% shares dropped in the extended session Thursday after the business process management software company’s outlook fell short of Wall Street estimates. Appian shares fell 9% after hours, following a 1% rise in the regular session to close at $62.68.
Appian expects an adjusted loss of 20 cents to 18 cents a share on revenue of $71 million to $71.5 million for the first quarter, and a loss of 58 cents to 55 cents a share on revenue of $296 million to $298 million for the year. Analysts had forecast a loss of 12 cents a share on revenue of $70.8 million for the first quarter, and a loss of 36 cents a share on revenue of $308.9 million for the year. The company reported a fourth-quarter loss of $10.8 million, or 16 cents a share, compared with a loss of $13.9 million, or 22 cents a share, in the year-ago period. The adjusted loss was 11 cents a share. Revenue rose to $68.6 million, or $70.5 million using last year’s accounting standards, from $60.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 14 cents a share on revenue of $69.8 million.