Company: APPN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001441683-25-000041
Chunk: 22

Company: APPIAN CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 22
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):Projected Amortization2025 (excluding the three months ended March 31, 2025)$884 2026759 202793 202893 202993 Thereafter110 Total projected amortization expense$2,032 

16

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$36,330 $37,109 Depreciation expense totaled $2.2 million and $2.0 million for the three months ended March 31, 2025 and 2024, respectively. We had no disposals or retirements during the three months ended March 31, 2025 or 2024.

7. Accrued ExpensesAccrued expenses consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):As ofMarch 31, 2025December 31, 2024Hosting costs$3,825 $3,047 Legal costs660 289 Marketing and tradeshow expenses2,177 1,728 Third party license fees809 668 Contract labor costs1,321 1,043 Reimbursable employee expenses1,409 1,569 Taxes payable1,002 1,285 Audit and tax expenses1,202 1,029 Capital expenditures391 66 Other accrued expenses1,029 664 Total$13,825 $11,388 

8. DebtSenior Secured Credit Facilities Credit AgreementWe have a Senior Secured Credit Facilities Credit Agreement (the “Credit Agreement”) which provides for a five-year term loan facility in an aggregate principal amount of $200.0 million and, in addition, up to $100.0 million for a revolving credit facility, including a letter of credit sub-facility in the aggregate availability amount