The stock market got a bit of unexpected news early Friday that sent stock index futures sharply lower before the start of trading on Friday morning. The latest government employment report showed stronger job growth than many economists had expected, and that threw cold water on the idea that the Federal Reserve might quickly slow its pace of interest rate hikes. Major indexes looked poised for a drop of 1% to 2% at the start of trading.

Even with that downward pressure, though, some stocks managed to post gains. In particular, stocks of cloud companies UiPath (PATH -2.82%) and Samsara (IOT -1.60%) were up significantly after they released their latest financial reports. Below, you'll learn more about what each company said and why shareholders are more excited about their longer-term prospects.

UiPath keeps growing

Shares of UiPath rose 8% in premarket trading on Friday morning. The provider of cloud-based automation software released its fiscal third-quarter financial report for the period ending Oct. 31, and it showed signs of ongoing growth even in the difficult macroeconomic environment that software companies currently face.

UiPath's revenue rose 19% year over year to $263 million, with annualized recurring revenue jumping 36% over the same period to $1.11 billion. The dollar-based net retention rate of 126% showed that UiPath continued to land clients and then expand its relationships with those customers to make broader use of its software platform. Net losses narrowed by more than half from year-ago levels, and on an adjusted basis, UiPath posted modestly positive earnings of $0.05 per share.

UiPath struck the right balance in emphasizing its dual commitment to ongoing growth and boosting profits. Cost management and smart capital allocation decisions helped keep overall expenses under control, yet the enterprise automation software specialist is still investing in initiatives that should lead to long-term growth.

Investors seemed pleased with UiPath's fourth-quarter projections as well, with the company expecting revenue of $277 million to $279 million and annualized recurring revenue moving up to around $1.175 billion. With interest in robotic process automation rising in light of the tough economy, UiPath could end up doing better than many of its cloud software peers during an economic slowdown.

Samsara bounces back

Elsewhere, shares of Samsara rose 19% early Friday. The specialist in Internet-of-Things-related connected operations reported results for the fiscal third quarter ending Oct. 29, and it made considerable progress in its quest toward profitability.

Samsara's revenue growth was strong. Total revenue jumped 49% year over year to $170 million, and its annualized recurring revenue rose at a 47% rate to $724 million. The company now boasts 1,113 customers generating at least $100,000 in annual recurring revenue, up 56% from where that number was 12 months ago.

The applications of Samsara's specialized business are fascinating. The company's artificial intelligence-driven cameras are able to detect when corporate vehicle fleet drivers are exhibiting behavior that threatens safety, such as driving while fatigued, using mobile devices, or driving without seat belts. Simple automated "nudges" in those situations have led to much lower accident rates, while records have helped exonerate many drivers from accidents by providing evidence that disproves allegations. Given the difficulty that industries like trucking have had in retaining experienced drivers, Samsara has been even more valuable in helping to bring newer workers up to speed.

Samsara is still losing money, but adjusted net losses narrowed to just $0.02 per share during the quarter. Moreover, the company sees sales growth remaining strong, with guidance for 48% to 49% gains in the current fiscal year. For a stock that's been public less than a year, Samsara has considerable potential to bounce back from tough market conditions.