Keith Lite's questions to Appian Corp (APPN) leadership • Q3 2024
Question
Keith Lite, on behalf of Sanjit Singh, asked for clarification on Appian's agentic AI strategy, questioning if it's about creating better agents or replacing them with process. He also inquired about the federal sector's performance and the drivers behind the significant EBITDA upside in the quarter.
Answer
CEO Matt Calkins explained that process empowers AI agents, making them 'bionic' by providing a structured framework with data access and predefined actions, leading to a superior version of agentic AI. He confirmed the federal sector was a top performer, driven by the GAM suite's success and adoption across all 15 U.S. cabinet-level agencies. CFO Mark Matheos attributed the strong EBITDA to a revenue beat and the company's ongoing 'posture of efficient growth,' which has yielded savings over the past 18 months.