Summary by Moomoo AI
UiPath, a leader in business automation, reported a 24% year-over-year revenue growth to $1.308 billion in its Fiscal Year 2024 Annual Report. The company's Annualized Renewal Run-rate (ARR) also saw a 22% increase to $1.464 billion. Despite these gains, UiPath experienced a net loss of $89.9 million, an improvement from the previous year's $328.4 million loss. The company's gross margin expanded to 85% from 83% the prior year. UiPath's cash and cash equivalents, including restricted cash and marketable securities, stood at $1.880 billion. The report highlighted the completion of a restructuring plan initiated in Fiscal Year 2023, which aimed to simplify go-to-market strategies and improve sales productivity. The restructuring led to a global workforce reduction of approximately 11% and was completed in the...Show More