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UiPath | ARS: Annual Report to Security Holders

SEC announcement ·  May 11 03:40
Summary by Futu AI
UiPath, a leader in business automation, reported a 24% year-over-year revenue growth to $1.308 billion in its Fiscal Year 2024 Annual Report. The company's Annualized Renewal Run-rate (ARR) also saw a 22% increase to $1.464 billion. Despite these gains, UiPath experienced a net loss of $89.9 million, an improvement from the previous year's $328.4 million loss. The company's gross margin expanded to 85% from 83% the prior year. UiPath's cash and cash equivalents, including restricted cash and marketable securities, stood at $1.880 billion. The report highlighted the completion of a restructuring plan initiated in Fiscal Year 2023, which aimed to simplify go-to-market strategies and improve sales productivity. The restructuring led to a global workforce reduction of approximately 11% and was completed in the...Show More
UiPath, a leader in business automation, reported a 24% year-over-year revenue growth to $1.308 billion in its Fiscal Year 2024 Annual Report. The company's Annualized Renewal Run-rate (ARR) also saw a 22% increase to $1.464 billion. Despite these gains, UiPath experienced a net loss of $89.9 million, an improvement from the previous year's $328.4 million loss. The company's gross margin expanded to 85% from 83% the prior year. UiPath's cash and cash equivalents, including restricted cash and marketable securities, stood at $1.880 billion. The report highlighted the completion of a restructuring plan initiated in Fiscal Year 2023, which aimed to simplify go-to-market strategies and improve sales productivity. The restructuring led to a global workforce reduction of approximately 11% and was completed in the second quarter of Fiscal Year 2024. UiPath's stock repurchase program, authorized by the board in September 2023, allows for the repurchase of up to $500 million of its Class A common stock, with $397.5 million remaining as of the end of the fiscal year. The company's international operations contributed significantly to its revenue, with 57% of revenue generated outside the U.S. UiPath's effective tax rate was reported at (18.6)% for Fiscal Year 2024. The company's future outlook includes continued investment in research and development, expansion of cloud-based deployments, and potential acquisitions or investments in complementary businesses or technologies.

This announcement is a separate document:

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