In episode 62 of the Acceleration Economy Minute, Kieron Allen discusses UiPath and recently released financial results. UiPath is on our Top 10 list of AI/Hyperautomation Enablers.
This episode is sponsored by Acceleration Economy’s Digital CIO Summit, taking place April 4-6. Register for the free event here. Tune in to the event to hear from CIO practitioners discuss their modernization and growth strategies.
Highlights
00:37 — UiPath last week announced its fourth-quarter and full-year results, which exceeded Wall Street’s expectations.
00:37 — Revenue rose to $308.5 million from $289.7 million in the year-ago quarter — a 7% increase. Annualized renewal run rate (ARR) rose 30% to $1.2 billion a year
01:10 — Analysts had forecast revenue of $278.6 million, so that was a significant revenue “beat.”
01:18 — UiPath now has 229 customers with $1 million or more in ARR and 1,785 customers with $100,000 or more. UiPath’s share price has risen strongly this year.
01:37 — In UiPath’s earnings call, co-CEO Rob Enslin said: “Our automation platform changes how organizations operate, innovate, and grow, enabling our customers to quickly see a meaningful return on investment.”
01:50 — A key takeaway is how a company like UiPath with its automation software can help organizations deliver extremely fast results: processes that may have taken days, weeks, or even months, can have the time they take slashed. Automation is extremely important because executives want to see results quickly.
Which companies are the most important vendors in AI and Hyperautomation? Click here to see the Acceleration Economy Top 10 AI/Hyperautomation Short List, as selected by our expert team of practitioner-analysts
