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UiPath
🇺🇸 NYSE:PATH
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•
Oct 31, 2022

UiPath Q3 2023 Earnings Report

UiPath's ARR grew by 36% year-over-year, reaching $1.110 billion, and the company delivered meaningful non-GAAP operating margin expansion.

Key Takeaways

UiPath's Q3 2023 financial results showed positive performance with a 19% increase in revenue year-over-year, reaching $262.7 million. ARR grew 36% year-over-year to $1.110 billion, driven by net new ARR of $66.8 million. The company reported a GAAP operating loss of $(67.0) million but achieved a non-GAAP operating income of $18.0 million.

Revenue increased 19% year-over-year to $262.7 million.

ARR grew 36% year-over-year, reaching $1.110 billion.

Net new ARR was $66.8 million.

Dollar-based net retention rate was 126%.

Total Revenue
$263M
Previous year: $221M
+19.0%
EPS
$0.05
Previous year: -$0.231
-121.7%
Annualized Recurring Revenue
$1.11B
Previous year: $818M
+35.6%
Gross Profit
$220M
Previous year: $178M
+23.8%
Cash and Equivalents
$1.45B
Previous year: $1.78B
-18.3%
Free Cash Flow
-$24.1M
Previous year: -$7.7M
+213.0%
Total Assets
$2.51B
Previous year: $2.47B
+1.8%

UiPath

UiPath

UiPath Revenue by Segment

Forward Guidance

For the fourth quarter fiscal 2023, UiPath expects revenue in the range of $277 million to $279 million and ARR in the range of $1,174 million to $1,176 million as of January 31, 2023. The company also expects non-GAAP operating income of approximately $35 million.

Positive Outlook

  • Revenue in the range of $277 million to $279 million.
  • ARR in the range of $1,174 million to $1,176 million as of January 31, 2023.
  • Non-GAAP operating income of approximately $35 million.
  • New go-to-market initiatives are driving results and resonating with customers.
  • Platform approach at the core of their success.

Challenges Ahead

  • Reconciliation of non-GAAP operating income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts.
  • High variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure.
  • Effects of stock-based compensation expense specific to equity awards that are directly impacted by fluctuations in our stock price.
  • Variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
  • Market, political, economic, and business conditions, including geopolitical turmoil and macro-economic effects caused by the war in Ukraine, increasing inflationary cost trends, and foreign exchange volatility

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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