Welcome to Episode 4 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into a new group of companies that are being introduced to the Cloud Wars Audience.
This episode is brought to you by Cloud Wars Expo. This in-person event will be held from June 28th to 30th at the Moscone Center in San Francisco, California
00:10 — UiPath, the leading provider of automation software in the cloud and on-premises, reported first-quarter fiscal 2023 results at the close of the market on Wednesday, June 1.
02:58 — The report was noteworthy in that it showed strong revenue gains (32%+) relative to expectations, as well as a smaller than expected net loss, and the company boosted its outlook amid much macroeconomic uncertainty. ARR was up 50% year over year.
03:27 — Amid macroeconomic uncertainty, company leaders did a strong job of explaining why customers are continuing to invest in their software and why they’re confident in the 2023 outlook.