Company: APPN
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001441683-25-000017
Chunk: 109

Company: APPIAN CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 109
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 whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. 

A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that 

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controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. 

/s/ BDO USA, P.C.

McLean, Virginia 

February 19, 2025

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APPIAN CORPORATION

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

As of December 31,20242023AssetsCurrent assetsCash and cash equivalents$118,552 $149,351 Short-term investments and marketable securities41,308 9,653 Accounts receivable, net of allowance of $3,396 and $2,606, respectively195,069 171,561 Deferred commissions, current36,630 34,261 Prepaid expenses and other current assets43,984 49,529 Total current assets435,543 414,355 Property and equipment, net of accumulated depreciation of $32,142 and $25,141, respectively37,109 42,682