UiPath Releases Strong 10-K Report

UiPath Inc. has recently released its 10-K report, providing a comprehensive view of the company's financial performance and operations. UiPath is a leading provider of an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, and Japan. The company's suite of software enables the building, management, running, engagement, measurement, and governance of automation within organizations, combining artificial intelligence with intuitive visualization tools and low-code development environments. UiPath serves various industries, including banking, healthcare, financial services, and government entities. The company was founded in 2005 and is headquartered in New York, New York.

In the fiscal year 2024, UiPath reported significant financial highlights. The company achieved a revenue of $1,308.1 million, marking a 24% year-over-year increase. Additionally, its Annual Recurring Revenue (ARR) reached $1,463.7 million, reflecting a 22% year-over-year growth. The gross margin for fiscal year 2024 stood at 85%, compared to 83% for fiscal year 2023. Furthermore, UiPath's cash and cash equivalents, restricted cash, and marketable securities amounted to $1,880.3 million as of January 31, 2024, compared to $1,759.8 million as of January 31, 2023.

The company's financial performance is influenced by various macroeconomic factors, including the proliferation of cloud-based applications, the cost of skilled human capital, and the global demand for automation solutions. UiPath is also subject to risks and uncertainties arising from significant events with macroeconomic impacts, such as changes in geopolitical relationships, rising inflation and interest rates, and foreign currency fluctuations.

UiPath's operating expenses consist of sales and marketing, research and development, and general and administrative expenses. The company's revenue is derived from the sale of software licenses, subscription services, and professional services. It recognizes revenue from term licenses at the point in time the customer can use and benefit from the software, while subscription services revenue is recognized ratably over the term of the arrangements. Professional services revenue is recognized as the services are rendered.

The market has reacted to these announcements by moving the company's shares 0.3% to a price of $22.78. Check out the company's full 10-K submission here.

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