Company: APPN
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001441683-25-000017
Chunk: 136

Company: APPIAN CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 136
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.8 million and $17.0 million as of December 31, 2024 and 2023, respectively. The rules regarding carryforwards vary from state to state, and the ability to utilize NOLs varies based on timing and amount. The majority of state NOL carryforwards generated prior to 2018 will expire, if unused, in 2037. Due to the TCJA, certain state NOL carryforwards generated after 2017 have an indefinite carryforward period.As of December 31, 2024 and 2023, we had foreign gross NOL carryforwards of $230.1 million and $192.3 million, respectively, primarily attributable to our subsidiary in Switzerland. We had tax-effected foreign NOL carryforwards of $29.0 million and $21.8 million as of December 31, 2024 and 2023, respectively. In 2024, $1.0 million of tax-effected Swiss NOLs expired related to the 2017 tax year. An additional portion of those NOL carryforwards will expire each year, if unused, between 2025 and 2031. As of December 31, 2024 and 2023 we had a total valuation allowance of $188.0 million and $162.0 million, respectively. The following table summarizes the activity related to our valuation allowances for the years ended December 31, 2024, 2023, and 2022 (in thousands):Year Ended December 31,202420232022Beginning balance$161,966 $132,581 $94,399 Charged to expense27,605 27,267 39,203 Foreign currency translation adjustments(1,602)2,118 (1,021)Deductions from reserve— — — Ending balance$187,969 $161,966 $132,581 As of December 31, 2024, we continued to maintain a full valuation allowance against U.S. deferred tax assets based on our cumulative operating results as of December 31, 2024, three-year cumulative loss, and an assessment of our expected future results of operations. We have evaluated all evidence, both positive and negative, in assessing the likelihood of realizability, and we determined the negative evidence outweighed the positive evidence.As of December 31, 2024, we have a valuation allowance of