Welcome to Episode 43 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into one or more Innovation Accelerators on the Cloud Wars Horizon. This episode reviews the second fiscal quarter highlights from UiPath.
00:50— UiPath reported quarterly results that were better than expected in terms of revenue growth, but it lowered its forecast for the full fiscal year due to FX headwinds, macroeconomic conditions, and internal repositioning that’s in process.
01:20 — The company reported revenue of $242.2 million, up 24% year over year and ahead of the expected $230 million. ARR was $1.043 billion, an increase of 44 percent.
02:00 — Executives said they are confident that they are well positioned as the enterprise automation leader. “Automation continues to be a central part of digital transformation for companies of all sizes across all industries,” co-CEO Rob Enslin said.
02:15 — “We’re definitely seeing budget discussions taking longer and C-level execs getting engaged,” Enslin said in reference to customers.
02:30 — Enslin and co-CEO Daniel Dines outlined four priorities for the company:
- Platform investment
- Increasing velocity and productivity
- Building up its leadership and overall team
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