UiPath(PATH)2024-12-05 21:14Revenue and Growth - Revenue for Q3 fiscal 2025 was $355 million, representing a 9% increase year-over-year[3] - Annualized Renewal Run-rate (ARR) reached $1.607 billion, up 17% year-over-year[3] - Net new ARR for the quarter was $56 million[3] - For Q4 fiscal 2025, revenue is expected to be between $422 million and $427 million[5] - ARR is projected to be between $1.669 billion and $1.674 billion as of January 31, 2025[5] - Total revenue for the three months ended October 31, 2023, was $354.7 million, a 8.1% increase from $325.9 million in the same period last year[24] - Subscription services revenue increased by 23.5% year-over-year to $206.9 million, compared to $167.5 million in the prior year[24] Profitability and Margins - GAAP gross margin was 82%, while non-GAAP gross margin was 85%[3] - Non-GAAP operating income for Q3 was $50 million, with a GAAP operating loss of $(43) million[3] - Gross profit for the nine months ended October 31, 2023, was $823.6 million, up from $760.2 million, reflecting a gross margin improvement[24] - GAAP gross profit for the three months ended October 31, 2023, was $290.890 million, with a gross margin of 82%, down from 85% in the previous year[30] - Non-GAAP gross profit for the same period was $300.364 million, with a non-GAAP gross margin of 85%, compared to 87% in the previous year[30] Losses and Expenses - Operating loss for the three months ended October 31, 2023, was $(43.4) million, an improvement from $(55.8) million in the same quarter last year[24] - Net loss for the three months ended October 31, 2023, was $(10.7) million, compared to $(31.5) million in the same period last year[24] - Net loss for the nine months ended October 31, 2023, was $125.488 million, compared to a loss of $123.799 million in the previous period[28] - GAAP net loss for the three months ended October 31, 2024, was $(10,655), an improvement from $(31,537) in the same period in 2023[34] - GAAP operating loss for the three months ended October 31, 2024, was $(43,364), compared to $(55,819) in the same period in 2023[32] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $1.6 billion as of October 31, 2024[3] - Cash and cash equivalents decreased to $773.6 million as of October 31, 2024, down from $1,061.7 million as of January 31, 2024[26] - Total current assets decreased to $2.18 billion from $2.58 billion in the previous quarter[26] - Total cash, cash equivalents, and restricted cash at the end of the period was $774.068 million, down from $1.003 billion at the end of the previous period[28] Deferred Revenue and Liabilities - Deferred revenue increased to $494.4 million as of October 31, 2024, compared to $486.8 million in the previous quarter[26] - Total liabilities as of October 31, 2024, were $931.4 million, slightly down from $938.6 million as of January 31, 2024[26] Shareholder Information - The company reported a weighted-average share count of 551,036 for the three months ended October 31, 2023[24] - GAAP weighted average common shares outstanding, diluted, for the three months ended October 31, 2024, were 553,942, compared to 577,499 in the same period in 2023[34] Operating Activities - Net cash provided by operating activities increased to $174.483 million from $153.480 million year-over-year[28] - The company experienced a net cash used in investing activities of $28.807 million, a significant improvement from $430.930 million in the previous period[28] Stock and Compensation - The company reported stock-based compensation expense of $270.520 million for the nine months ended October 31, 2023, slightly down from $283.025 million[28] - The company repurchased $381.403 million of Class A common stock during the period, compared to $52.649 million in the previous period[28] Guidance and Future Projections - Non-GAAP operating income guidance for Q4 is approximately $100 million[5] - Non-GAAP net income for the nine months ended October 31, 2024, was $156,788, compared to $181,866 for the same period in 2023, indicating a decrease of 13.8%[34] - Non-GAAP adjusted free cash flow for the nine months ended October 31, 2024, was $182,868, compared to $162,965 for the same period in 2023, representing an increase of 12.2%[35] - Non-GAAP operating income for the three months ended October 31, 2024, was $49,721, an increase from $43,679 in the same period in 2023[32] - Non-GAAP net income per share, diluted, for the three months ended October 31, 2024, was $0.11, unchanged from the same period in 2023[34]