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Oct 31, 2023
UiPath Q3 2024 Earnings Report
UiPath's Q3 2024 financial results were released, showcasing revenue growth and strong ARR.
Key Takeaways
UiPath reported a strong third quarter with revenue of $326 million, a 24% increase year-over-year, and ARR of $1.378 billion, also a 24% increase year-over-year. The company's focus on operational excellence led to improvements in profitability and cash flow.
Revenue increased 24% year-over-year to $326 million.
ARR increased 24% year-over-year to $1.378 billion.
Net new ARR was $70 million.
Dollar-based net retention rate was 121%.
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 2024, UiPath expects revenue in the range of $381 million to $386 million and ARR in the range of $1.450 billion to $1.455 billion as of January 31, 2024. Non-GAAP operating income is expected to be approximately $78 million.
Positive Outlook
- Revenue in the range of $381 million to $386 million
- ARR in the range of $1.450 billion to $1.455 billion as of January 31, 2024
- New AI platform features to transform the enterprise
- New connectors for Google AI and Google Workspace
- Named a Leader in the IDC MarketScape
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 compensation awards that are directly impacted by unpredictable 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income