Summary by Moomoo AI
UiPath, a leading AI-powered Business Automation Platform, reported a 16% year-over-year increase in revenue, reaching $335.1 million for the quarter ended April 30, 2024. The company's Annualized Renewal Run-rate (ARR) also saw a significant rise of 21% compared to the same period last year, amounting to $1,507.7 million. Gross margin slightly decreased to 83% from 85% the previous year, attributed to a shift towards subscription services and increased hosting costs. Operating cash flow improved, with a 49% increase to $100.0 million. The company's cash and cash equivalents, including restricted cash and marketable securities, stood at $1,936.9 million, showing a slight increase from the previous quarter. UiPath's net loss per share improved marginally from $(0.06) to $(0.05) year-over-year. In terms of business development, UiPath continued...Show More