Today's video focuses on UiPath (PATH -0.98%), recent news affecting the company, and its earnings, reported Dec. 9. Here are some highlights from the video.
- UiPath reported a total of $813 million in annualized renewal run rate (ARR), up 58% year over year (YOY), driven by roughly $92 million of net new ARR this quarter. Management believes that the current labor shortage could be a tailwind for automation companies. UiPath also increased its full-year ARR forecast to $902 million, up from the $888 million guidance it gave last quarter.
- UiPath global customers grew 23% YOY, to over 9,630. There was also growth in the amount of money customers are willing to spend. Customers with over $100,000 and $1 million of ARR have grown sequentially and yearly.
- UiPath continues to be a leader in the RPA market. This quarter, UiPath continues to show how it maintains that role, making numerous technical partnerships with growing companies like Crowdstrike (CRWD -4.19%), winning multiple recognition awards, and maintaining a stable learning environment for future developers.
Click the video below for my full thoughts and analysis.
*Stock prices used were the after-market prices of Dec. 10, 2021. The video was published on Dec. 10, 2021.
