Appian vs Braze
Braze reported revenue of $738 million in fiscal 2026, about the same as Appian's $727 million in fiscal 2025. Appian's revenue grew 17.8% in its latest year, and Braze's grew 24.4%. Appian had an operating margin of 0.1%, against -19.6% at Braze. Free cash flow was $60 million at Appian and $62 million at Braze. Their fiscal years end in different months (December 31 and January 31), so the periods don't line up exactly.
Side by side
| Appian | Braze | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jan 31, 2026 |
| Revenue | $727M | $738M |
| Revenue growth | 17.8% | 24.4% |
| Revenue growth a year, last 5 years | 19.0% | 37.5% |
| Gross margin | 72.5% | 67.2% |
| Operating margin | 0.1% | −19.6% |
| Net margin | 0.2% | −17.8% |
| Free cash flow | $60M | $62M |
| Free cash flow margin | 8.2% | 8.4% |
| Return on capital | — | — |
| Net debt to EBITDA | 5.2x | — |
| Dividends and buybacks | $20M | $0M |
| Change in diluted share count | 2.3% | 5.6% |
| Last close | $51.60 | $45.79 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | bought $99,993, sold $5.8 million | sold $12.7 million |
| Piotroski F-score | 6 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AppianBraze
Operating margin
Percent of revenue
AppianBraze
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AppianBraze