Company: APPN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001441683-25-000041
Chunk: 98

Company: APPIAN CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 98
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 policy in connection with our $2.036 billion judgment against Pegasystems. See Note 12 to the consolidated financial statements for additional details. The total cost of the policy was $57.3 million, which we paid with operating cash on hand. In addition, in February 2024 our Board of Directors authorized a share repurchase program, under which we repurchased approximately 1.3 million shares of our common stock for approximately $50.0 million during the first quarter of 2024. We may in the future opportunistically repurchase our common stock within the context of maintaining our strong capital position. 

Outside of the above items and cash used by operations, other uses of cash in 2025 to date have included capital expenditures related to the expansion of the new leased facilities and principal repayments of our term loan debt.

Furthermore, we have a non-cancellable cloud hosting arrangement with AWS that contains provisions for minimum purchase commitments. Specifically, purchase commitments under the agreement total $220.0 million over five years. The agreement, which was originated in July 2021 and amended in October 2024, currently contains minimum annual spending requirements of $44.0 million from November 2024 to October 2029. Spending under this agreement for the three months ended March 31, 2025 and 2024 totaled $10.4 million and $10.3 million, respectively. The timing of payments under the agreement may vary. We expect to meet our minimum annual spending requirement during the term of the arrangement.

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Historical Cash Flows

Three Months Ended March 31,20252024$ Change% Change(dollars in thousands)Beginning cash, cash equivalents, and restricted cash$118,552 $149,351 $(30,799)(20.6)%Operating activities:Net loss(1,177)(32,923)31,746 (96.4)Stock-based compensation and other non-cash adjustments8,358 24,328 (15,970)(65.6)Changes in working capital37,785 27,461 10,324 37.6 Net cash provided by operating activities44,966 18,866 26,100 ***Investing activities:Net cash (used by) provided by investing activities(24,077)7,459 (31,536)***Financing activities:Net cash used by financing activities(5,509)(4,249)(1,