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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%.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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