Company: APPN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001441683-25-000041
Chunk: 68

Company: APPIAN CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 68
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 Intangible AssetsThe following table details the changes in goodwill during the three months ended March 31, 2025 and fiscal year ended December 31, 2024 (in thousands):Carrying AmountBalance as of December 31, 2023$27,106 Foreign currency translation adjustments(1,551)Balance as of December 31, 202425,555 Foreign currency translation adjustments991 Balance as of March 31, 2025$26,546 Intangible assets, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):As ofMarch 31, 2025December 31, 2024Developed technology$6,944 $6,685 Customer relationships 930 896 Intangible assets, gross7,874 7,581 Less: accumulated amortization(5,842)(5,341)Intangible assets, net$2,032 $2,240 Intangible amortization expense was $0.3 million and $0.4 million for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, the weighted average remaining amortization periods for developed technology and customer relationships were approximately 1.4 years and 6.1 years, respectively.The following table shows the projected annual amortization expense related to amortizable intangible assets as of March 31, 2025 (in thousands):Projected Amortization2025 (excluding the three months ended March 31, 2025)$884 2026759 202793 202893 202993 Thereafter110 Total projected amortization expense$2,032 

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6. Property and Equipment, netProperty and equipment, net consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):As ofMarch 31, 2025December 31, 2024Leasehold improvements$55,045 $54,088 Office furniture and fixtures4,594 4,445 Computer software and hardware9,424 9,363 Internally developed software1,154 545 Equipment199 191 Work in process240 619 Property and equipment, gross70,656 69,251 Less: accumulated depreciation(34,326)(32,142)Property and equipment, net$36,