Analysts were expecting $245.45 million revenue on average or an increase of 11%.
UiPath also posted a GAAP (generally accepted accounting principles) operating loss of $67 million. Annual recurring revenue (ARR), one of the main indictors the company uses, stood at $1.1 billion in the third quarter of FY 2023, up 36%, UiPath’s financial report available on the corporate website shows. Dollar based net retention rate reached 126%, and the GAAP gross margin 84%.
“We are pleased with our third quarter fiscal 2023 results as ARR grew 36% year- over-year and we delivered meaningful non-GAAP operating margin expansion,” said Rob Enslin, UiPath Co-Chief Executive Officer. “Our new go-to-market initiatives are driving results and resonating with customers.”
UiPath expects $277 million to $279 million revenue in the fourth quarter, as well as $1.174 billion to $1.176 billion ARR and non-GAAP operating income of approximately $35 million.
(English version by Loredana Fratila-Cristescu)