Is Appian setting up for Saas 40? Seems like Pega did and they are still not there - but it’s a significantly better managed company than this. If Appian wants to do 40, means driving close to 20% margin in profit as our growth is likely capped around 15-20%, meaning there will be significant cost reduction coming up. Imagine the moving of bonus from cash to stock was part of this. Other thoughts?
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