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TYSONS, Va. (AP) _ Appian Corp. (APPN) on Thursday reported a loss of $44 million in its third quarter.
The Tysons, Virginia-based company said it had a loss of 61 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 43 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The business process management software provider posted revenue of $117.9 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $115.6 million.
For the current quarter ending in December, Appian expects its results to range from a loss of 42 cents per share to a loss of 36 cents per share.
The company said it expects revenue in the range of $121.5 million to $123.5 million for the fiscal fourth quarter.
Appian expects full-year results to range from a loss of $1.36 per share to a loss of $1.30 per share, with revenue ranging from $461 million to $466 million.
Appian shares have decreased 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.24, a fall of 52% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a APPN">Zacks stock report on APPN at https://www.zacks.com/ap/APPN