UiPath Q3 2024 Earnings Report
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
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