You are not logged in and only seeing 7 days of articles. Please sign up or login to view more
Thursday 16 March 2023

UiPath beat expectations for the FY

UiPathRobotic Process Automation (RPA) software market leader UiPath saw its share price jump some 15% in after-hours trading yesterday, as the company’s results for Q4 and the FY exceeded Wall Street expectations.

The Romanian/US player posted annual revenue of more than $1bn for the first time ($1.06bn) as the business grew 19% YoY. Whilst the software player still made an operating loss of -$348m it was significantly down on the c.½ billion-dollar loss made this time last year, finally decoupling the link between increasing revenue and increasing losses. 

UiPath is clearly benefiting from a more disciplined approach to growth having initially struggled in the Public Markets since its IPO in April 2021. This subsequently saw a new Co-CEO Rob Enslin join in April last year (see New Co-CEO at UiPath) to sit alongside founder Daniel Dines with a view to helping grow the business more efficiently.

Things certainly appear to be heading in the right direction for UiPath although its yet to be reflected in its share price which remains some 80%+ down on its peak. Expectations for FY24 are for continued revenue growth in the range of $1.253bn to $1.258bn. Profitability is also expected to improve with the fiscal 2024 outlook implying a 350-basis point increase in operating margin.

Posted by: Marc Hardwick at 08:23

Tags: results   software   RPA  

Twitter   Facebook   LinkedIn   Email article link

© TechMarketView LLP 2007-2023: Unauthorised reproduction prohibited see full Terms and Conditions.