UiPath Record Revenue and Strategic Partnerships Propel Growth

UiPath ( PATH ), the pioneering enterprise automation and AI software company, has announced its fourth quarter and full-year fiscal 2024 financial results, showcasing remarkable growth and strategic initiatives that underscore its position as a leader in the industry.

In the fourth quarter, UiPath ( PATH ) reported record-breaking revenue of $405 million, marking a significant 31 percent increase year-over-year. Accompanying this impressive revenue growth was an equally noteworthy achievement: UiPath achieved its first quarter of GAAP profitability as a public company, demonstrating its commitment to financial stability and long-term success.

Key to UiPath's ( PATH ) success is its Business Automation Platform, which continues to deliver meaningful outcomes for its customers. With an Annual Recurring Revenue (ARR) reaching $1.464 billion, representing a robust 22 percent increase year-over-year, UiPath's platform empowers organizations to streamline processes, innovate, and adapt more quickly in today's rapidly evolving digital landscape.

Rob Enslin, UiPath's Chief Executive Officer, emphasized the transformative power of UiPath's AI and automation solutions, stating, "The combination of UiPath’s AI and automation is the strategic change enabler for our customers that makes any digital transformation easier and faster, while empowering customers to innovate, adapt more quickly, and grow."

UiPath's financial highlights for the full year fiscal 2024 further underscore its sustained growth trajectory. With revenue reaching $1.308 billion, a 24 percent increase year-over-year, and a net new ARR of $260 million, UiPath has demonstrated its ability to deliver value and drive operational excellence.

Ashim Gupta, UiPath's Chief Financial Officer, expressed satisfaction with the company's performance, highlighting significant year-over-year increases in operating margins and record cash flow. Looking ahead to fiscal year 2025, Gupta outlined strategic investments to further expand UiPath's( PATH ) market leadership while maintaining a focus on operating leverage.

In addition to its stellar financial performance, UiPath has announced several recent business highlights that underscore its commitment to innovation and strategic partnerships. These include the launch of UiPath Autopilot™ for Studio and Autopilot™ for Test Suite, an expanded partnership with Google Cloud, and the introduction of turnkey automation offerings in collaboration with Deloitte, among others.

Furthermore, UiPath's ( PATH ) recent appointment of technology executive June Yang to its Board further strengthens its leadership team and positions the company for continued growth and success in the dynamic AI and automation landscape.