Updated
The most significant concentration Appian discloses is Appian platform, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Appian’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Sales of our software platform account for substantially all of our subscriptions revenue and are the source of substantially all of our professional services revenue'”
“10-K Item 1A: 'We rely upon AWS to operate our cloud offering; any disruption of or interference with our use of AWS would adversely affect our business, results of operations, and financial condition'”
“10-K Item 1: 'approximately 38% of our total revenue was generated from customers outside of the United States'”
“10-K Item 1A: 'revenue from U.S. federal government agencies represented 25.3%, 23.9%, and 21.3% of our total revenue, respectively'”
The company's concentration profile combines a high-share product dependency, a high-share infrastructure dependency, a medium-share geographic exposure, and a medium-share customer-sector tilt — a multi-layered picture that investors should read together rather than in isolation. Sales of the software platform account for substantially all subscriptions revenue and are the source of substantially all professional services revenue, a high-share product exposure with a mixed character — structural in that the company is built around a single platform, but carrying dependency-like risk because any failure to maintain or extend that platform's competitiveness would directly impair all revenue lines. Reinforcing this is a high-share infrastructure dependency on AWS: the company explicitly notes that any disruption to or interference with its use of AWS would adversely affect its business, making it reliant on a single cloud provider for core product delivery. On the customer side, approximately 38% of total revenue was generated from customers outside the United States, a medium-share geographic exposure that is structural in character and reflects where the company's end-markets sit globally. More idiosyncratic is the federal government customer tilt: revenue from U.S. federal government agencies represented 25.3% of total revenue in the most recent year, a medium-share dependency that introduces budget-cycle risk and procurement sensitivity. In aggregate, the profile is meaningful: a single-platform business running on one cloud provider with a material government-revenue component and moderate international exposure. The AWS and government-sector dependencies are the most discrete risks to monitor.
For the engine’s reasoning on APPN’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APPN● | Appian Corporation | 2 | 2 | 0 | 4 |
| BB | BlackBerry Limited | 1 | 1 | 0 | 2 |
| AVPT | AvePoint, Inc. | 1 | 0 | 0 | 1 |
| ATEN | A10 Networks, Inc. | 0 | 2 | 0 | 2 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.