APPNAPPIAN CORP
Services-Prepackaged Software
- Revenue
- $727M
- 18% YoY
- Operating margin
- 0.1%
- 101% YoY
- EBITDA
- $10M
- 120% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 11.1×
- $115M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear51× net incomeCash flow under 80% of net income
- Dilutive SBCClear6% of revenueOver 10% of revenue
- Payouts exceed cash flowClear32% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear5% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $369M | $468M | $545M | $617M | $727M | 18% |
| Operating income | −$84M | −$145M | −$108M | −$61M | $609K | 101% |
| Net income | −$89M | −$151M | −$111M | −$92M | $1M | 101% |
| Operating cash flow | −$54M | −$107M | −$110M | $7M | $63M | 814% |
| Capex | $6M | $9M | $10M | $4M | $3M | 13% |
| Stock-based comp | $24M | $39M | $43M | $39M | $42M | 6.4% |
| Buybacks | — | $0 | $0 | $50M | $20M | 60% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $3M · 5
- Net
- −$3M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $3M | $760K | 22 | 258 |
| FY2024 | $1M | −$4M | 20 | 203 |
| FY2023 | $1M | $5M | 23 | 147 |
| FY2022 | $20M | $12M | 20 | 89 |
| FY2021 | $982K | $32M | 40 | 138 |