What move does the options market price into Appian's report?

Implied ±25.6%, either direction · provisional.

How often does Appian move more than the options market prices?

2 of the last 8 reports moved at least as far as the implied move.

APPNNasdaqServices-Prepackaged Software

Appian Corp (APPN) earnings date, market-implied expected move, and options open interest by expiry

49.80

pre 58.50 +17.42%

Pre-market09:19 ETdelayed

Open48.82Volume1.2MMkt cap$3.6BEPS-0.14

Day48.82 – 58.5799%52-wk18.63 – 54.12100%

APPN

Appian Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±25.6%implied · straddle

37.0762.57

spot 49.82exp Feb 19ATM strike 50ATM straddle 15.00IV 70%

Nov 4 closeprovisional

Expected move

Inputs

Next report

Feb 18

before open · in 105 days

est.Q4 FY26

Calendar

Next report

Last report

Nov 5

before open

confirmedNov 4 close

Implied vs realized

Largest filed tie

25.30%

of APPN revenue · U.S. federal government agencies

customerAPPN 10-K

Largest filed tie

13F top-10 QoQ

−1.24%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

214 managers

Top fund weight

0.03%

APPN weight · IWM

N-PORTJun 30 '26

4 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Appian (APPN) is expected to report on Feb 18 before open (estimated date).

Implied vs realized

8 reports

2 of 8≥ implied

avg implied: ±11.1%
avg realized: ±8.7%

Nov 7 '24Nov 7 '24confirmed±10.5%▲+2.62%×0.25

Feb 19 '25Feb 19 '25confirmed±10.1%▲+16.20%×1.61

May 8 '25May 8 '25confirmed±7.9%▲+5.33%×0.68

Aug 7 '25Aug 7 '25confirmed±10.1%▲+8.27%×0.82

Q3 FY25Nov 6 '25confirmed±10.1%▲+30.79%×3.06

Feb 19 '26Feb 19 '26confirmed±14.4%▲+2.00%×0.14

Q1 FY26May 7 '26confirmed±12.0%▲+2.50%×0.21

Q2 FY26Aug 6 '26confirmed±13.7%▲+1.50%×0.11

quarterimplied−35%0+35%realized×

Q2 FY26±13.7%▲+1.50%×0.11

Q1 FY26±12.0%▲+2.50%×0.21

Feb '26±14.4%▲+2.00%×0.14

Q3 FY25±10.1%▲+30.79%×3.06

Aug '25±10.1%▲+8.27%×0.82

May '25±7.9%▲+5.33%×0.68

2 older reports

Feb '25±10.1%▲+16.20%×1.61

Nov '24±10.5%▲+2.62%×0.25

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 4 expiries · Nov 4 close

0.12OI · 4 expiries · Nov 4 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

3,0150%Nov 2015d1.831,6460%1.83

1080%Dec 1843d0.91119+1%0.91

428−3%Jan 1571d0.401,0590%0.40

report · Feb 18 · before open · est.

410%Feb 19106d3500%

ExpiryPutsCallsP/C

Nov 2015d3,0150%1,6460%1.83

Dec 1843d1080%119+1%0.91

Jan 1571d428−3%1,0590%0.40

report · Feb 18 · before open · est.

Feb 19106d410%3500%0.12

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±25.6%

Funds 4

IWM±0.0%

UWM±0.0%

VTI±0.0%

VT±0.0%

Dashed = straddleMethod Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

−5.81%as filednet margin · revenue +0.53% QoQ · +19.11% YoY

Revenue$203M+0.53%

Gross profit$145M71.21%−2.05%

Operating income−$5M−2.68%−272.37%

Pre-tax income−$10M−978.00%

Net income−$12M−5.81%−674.89%

Cost of revenue$59M+7.54%

Operating expenses$150M+3.85%

Tax$2M+198.48%

Other expense−$5M−12.70%

Source: SEC filings · standardized · QE Jun 30 '26 · bars = % of revenue

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ downSource: market data · 09:15 ET

Intraday

Event sensitivity

NFP ×2.05· ±5.0% vs ±2.4% · 10 releases

eventrelease day|move|up · n×base

NFPjobs report±5.0%3 of 10×2.05

PPIproducer prices±3.0%3 of 10×1.22

CPROFcorporate profits±2.5%5 of 12×1.04

FOMCrate decision±2.5%10 of 24×1.01

CPIconsumer prices±2.4%3 of 10×0.98

GDPgross domestic product±2.2%7 of 19×0.91

PCEpersonal income & outlays±2.2%9 of 19×0.90

Bar = avg |move| to ±5% · tick = ±2.4% avg day · ×base = |move| ÷ ±2.4% · min 6 releases

Earnings history

EPS -0.16 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Aug 6 '26 · confirmed	-0.16	—
Q1 FY26	May 7 '26 · confirmed	-0.02	—
Q3 FY25	Nov 6 '25 · confirmed	0.10	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod