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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%.
UiPath
UiPath
UiPath Revenue by Segment
Revenue by Segment
Licenses Revenue
CapyFin.comSubscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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