UiPath(PATH) - 2024 Q4 - Annual Results

Financial Performance - Q4 FY2024 ARR grew 22% YoY to $1.464 billion[2] - Q4 FY2024 revenue increased 31% YoY to $405 million[6] - Full-year FY2024 revenue increased 24% YoY to $1.308 billion[7] - Total revenue for the three months ended January 31, 2024, was $405.253 million, a 31.3% increase from $308.549 million in the same period in 2023[28] - Subscription services revenue grew 27.1% to $176.038 million in Q1 2024 compared to $138.514 million in Q1 2023[28] - Net income for Q1 2024 was $33.916 million, a significant improvement from a net loss of $27.689 million in Q1 2023[28] - GAAP gross profit for the twelve months ended January 31, 2024, was $1,112.148 million, with a GAAP gross margin of 85%[34] - Non-GAAP gross profit for the twelve months ended January 31, 2024, was $1,144.461 million, with a Non-GAAP gross margin of 87%[34] - GAAP operating income (loss) for the twelve months ended January 31, 2024, was $(164.720) million, with a GAAP operating margin of (13)%[37] - Non-GAAP operating income for the twelve months ended January 31, 2024, was $232.564 million, with a Non-GAAP operating margin of 18%[37] - GAAP net income (loss) attributable to common stockholders for the twelve months ended January 31, 2024, was $(89.883) million[39] - Non-GAAP net income for the twelve months ended January 31, 2024, was $310.380 million[39] Cash Flow and Liquidity - Q4 FY2024 net cash flow from operations and non-GAAP adjusted free cash flow both reached $146 million[7] - Full-year FY2024 net cash flow from operations was $299 million, with non-GAAP adjusted free cash flow at $309 million[7] - Cash and cash equivalents decreased to $1.061678 billion as of January 31, 2024, from $1.402119 billion as of January 31, 2023[30] - Net cash provided by operating activities was $299.082 million for the twelve months ended January 31, 2024, compared to a net cash used of $9.981 million in the same period in 2023[32] - Non-GAAP adjusted free cash flow for the twelve months ended January 31, 2024, was $309.383 million[42] - Purchases of marketable securities totaled $1.485965 billion for the twelve months ended January 31, 2024, a significant increase from $388.409 million in the same period in 2023[32] Guidance and Future Outlook - Q1 FY2025 revenue guidance is $405 million, a 31% YoY increase[6] - FY2025 ARR guidance is in the range of $1.725 billion to $1.730 billion[11] Product and Partnership Developments - UiPath launched UiPath Autopilot™ for Studio and Autopilot™ for Test Suite, enhancing developer and tester productivity with AI capabilities[12] - UiPath expanded its partnership with Google Cloud, integrating Google Cloud's Vertex AI and Google Workspace offerings[12] Expenses and Compensation - GAAP sales and marketing expenses for the twelve months ended January 31, 2024, were $713.130 million[37] - Non-GAAP sales and marketing expenses for the twelve months ended January 31, 2024, were $560.009 million[37] - Stock-based compensation expense was $371.955 million for the twelve months ended January 31, 2024, slightly up from $369.840 million in the same period in 2023[32] - Repurchases of Class A common stock totaled $102.615 million for the twelve months ended January 31, 2024[32] Balance Sheet and Deferred Revenue - Total assets increased to $2.954758 billion as of January 31, 2024, from $2.735206 billion as of January 31, 2023[30] - Deferred revenue increased to $486.805 million as of January 31, 2024, up from $398.334 million as of January 31, 2023[30]