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UiPath | 8-K: UiPath Reports Fourth Quarter and Full Year Fiscal 2024 Financial Results

SEC announcement ·  Mar 13 16:23
Summary by Moomoo AI
On March 13, 2024, UiPath, Inc., a leading enterprise automation and AI software company, reported its financial results for the fiscal fourth quarter and full year of fiscal 2024. The company, listed on the New York Stock Exchange under the ticker PATH, announced a record quarterly revenue of $405 million, a 31 percent increase year-over-year. The Annual Recurring Revenue (ARR) reached $1.464 billion, marking a 22 percent year-over-year growth. Notably, this quarter represented UiPath's first instance of GAAP profitability since becoming a public entity. The company also reported significant cash flow from operations and non-GAAP adjusted free cash flow, both amounting to $146 million. For the full fiscal year 2024, UiPath's revenue was $1.308 billion, a 24 percent increase from the previous year, with...Show More
On March 13, 2024, UiPath, Inc., a leading enterprise automation and AI software company, reported its financial results for the fiscal fourth quarter and full year of fiscal 2024. The company, listed on the New York Stock Exchange under the ticker PATH, announced a record quarterly revenue of $405 million, a 31 percent increase year-over-year. The Annual Recurring Revenue (ARR) reached $1.464 billion, marking a 22 percent year-over-year growth. Notably, this quarter represented UiPath's first instance of GAAP profitability since becoming a public entity. The company also reported significant cash flow from operations and non-GAAP adjusted free cash flow, both amounting to $146 million. For the full fiscal year 2024, UiPath's revenue was $1.308 billion, a 24 percent increase from the previous year, with a net new ARR of $260 million. Despite a GAAP operating loss of $165 million for the year, the non-GAAP operating income was a positive $233 million. The company's cash, cash equivalents, and marketable securities totaled $1.9 billion as of January 31, 2024. UiPath's CEO, Rob Enslin, attributed the strong fiscal year-end to the company's Business Automation Platform, which delivers significant outcomes for customers. Looking forward, UiPath provided guidance for the first quarter of fiscal 2025, expecting revenue between $330 million to $335 million and an ARR range of $1.508 billion to $1.513 billion as of April 30, 2024. For the full fiscal year 2025, the company anticipates revenue between $1.555 billion to $1.560 billion and an ARR between $1.725 billion to $1.730 billion as of January 31, 2025, with a non-GAAP operating income of approximately $295 million. The report also highlighted recent business achievements, including new product previews, partnerships, and the expansion of its data center in India.

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