Uipath, Inc. · NYSE:PATH
Uipath — Q3 FY2023 Earnings Presentation
23 slides from Uipath's earnings presentation, December 2022
Slide 1: Hello, we're UiPath. 3Q FY 2023 Earnings Supplemental Slides
Hello, we’re UiPath. We make software robots so people don’t have to be robots. 3Q FY 2023 Earnings Supplemental Slides
Slide 2: Safe harbor
Safe harbor Statements we make in this presentation may include statements which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, which are usually identified by the use of words such as “anticipates,” “believes,”
Slide 3: UiPath at a glance
UiPath at a glance $1,110M ~10,650 126% Dollar based net ARR1,2 Global customer base2 retention rate1,2 38% 1,711 ~130% ARR1,2 growth rate Customers ≥ Dollar based net year-over-year $100k ARR1,2 retention rate1,2 excluding excluding FX impact3 FX impact and Russian sanctions Notes: 1. See Appendix
Slide 4: Go-to-market enhancements
Go-to-market enhancements Pricing & Packaging Sell Business Outcomes to C-Level Industry Verticalization Solution Accelerator 4
Slide 5: Global network of partners
Global network of partners Tech Partners GTM Partners 5
Slide 6: Strong customer momentum
Strong customer momentum Scaling large customers Becoming C-Suite priority Total customers (Customers ≥ $100k ARR1, 2) (Customers ≥ $1 million ARR1, 2) 1,711 ~10,650 201 ~9,630 1,363 135 3Q 2022 3Q 2023 3Q 2022 3Q 2023 3Q 2022 3Q 2023 Notes: 1. See Appendix for definition of Annualized Renewal Run-r
Slide 7: The UiPath Business Automation Platform
The UiPath Business Automation Platform Discover Continuously uncover opportunities for process and task improvements, helping you identify the highest ROI areas PROCESS MINING TASK MINING COMMUNICATIONS MINING IDEA CAPTURE & MANAGEMENT Automate Get more done with a digital workforce that seamlessl
Slide 8: The UiPath 2022.10 release
The UiPath 2022.10 release Powering your new business applications 1. Rapidly build your next gen business apps and automations Expanded access and simplified development experiences for developers and business users alike 2. A new foundation for continuous discovery Zero in on processes with the bi
Slide 9: Industry analyst recognition
Industry analyst recognition 2022 Everest Group Robotic Process 2022 ISG Provider Lens™ for Automation (RPA) PEAK Matrix®1 Low-Code Development Platforms2 UiPath named a Leader for the sixth year in a row, and Star UiPath debuts as a Leader citing UiPath’s unified platform value proposition, Perform
Slide 10: Financials
Financials [Ui]Path weet
Slide 11: Beyond $1B in ARR
Beyond $1B in ARR ARR1 $ in millions 2 51% $1,110 CAGR $977 $1,043 $925 $818 $726 $653 $580 $518 $453 $398 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023 Notes 1. See Appendix for definition of Annualized Renewal Run-rate (ARR) 2. CAGR for the period 1Q 2021
Slide 12: UiPath at a glance
UiPath at a glance $263M 29% 126% Revenue2 Revenue2 growth rate Dollar based net year-over-year retention rate1,2 excluding FX impact3 $1,110M 38% ~130% ARR1,2 ARR1,2 growth rate Dollar based net year-over-year retention rate1,2 excluding excluding FX impact4 FX impact and Russian sanctions Notes: 1
Slide 13: Fiscal third quarter 2023 results
Fiscal third quarter 2023 results ($M) 3Q 2023 3Q 2022 Revenue $262.7 $220.8 Non-GAAP gross margin 86% 85% Non-GAAP operating expenses: Sales and marketing $124.1 $106.8 Research and development $43.7 $35.4 General and administrative $40.9 $36.9 GAAP operating loss $(67.0) $(116.2) Non-GAAP operatin
Slide 14: Guidance
Guidance1 4Q 2023 Guidance ARR2 $1,174 million – $1,176 million Revenue $277 million – $279 million Non-GAAP Operating Income ~$35 million Notes: 1. Guidance inherently is forward-looking and is subject to the risks and uncertainties noted elsewhere in these materials and in our special note regardi
Slide 15: Questions?
Questions? [Ui]Path Be"
Slide 16: Thank you!
Thank you!
Slide 17: Appendix
Appendix [Ui]Path weet
Slide 18: Definitions and calculations
Definitions and calculations Annualized Renewal Run-rate (ARR): We define ARR as annualized invoiced amounts per solution SKU from term subscription licenses and maintenance obligations assuming no increases or reductions in their subscriptions. ARR does not include the costs we may incur to obtain
Slide 19: GAAP to Non-GAAP reconciliation
GAAP to Non-GAAP reconciliation Total gross margin ($M) 3Q 2023 3Q 2022 GAAP revenue $262.7 $220.8 GAAP gross profit $220.0 $177.7 GAAP gross margin 84% 80% Add: Stock-based compensation expense $5.4 $6.4 Amortization of acquired intangible assets $1.3 $1.0 Employer payroll tax expense related to $0
Slide 20: GAAP to Non-GAAP reconciliation (cont'd)
GAAP to Non-GAAP reconciliation (cont’d) Sales and marketing ($M) 3Q 2023 3Q 2022 GAAP sales and marketing $156.5 $172.9 Less: Stock-based compensation expense $30.8 $41.8 Amortization of acquired intangible assets $0.7 $0.4 Employer payroll tax expense related to employee equity transactions $0.4 $
Slide 21: GAAP to Non-GAAP reconciliation (cont'd)
GAAP to Non-GAAP reconciliation (cont’d) Total operating margin ($M) 3Q 2023 3Q 2022 GAAP revenue $262.7 $220.8 GAAP operating loss $(67.0) $(116.2) GAAP operating margin (25)% (53)% Add: Stock-based compensation expense $81.1 $95.1 Amortization of acquired intangible assets $2.1 $1.4 Employer payro
Slide 22: GAAP to Non-GAAP reconciliation (cont'd)
GAAP to Non-GAAP reconciliation (cont’d) Non-GAAP adjusted free cash flow ($M) 3Q 2023 3Q 2022 GAAP revenue $262.7 $220.8 GAAP net cash used in operating activities $(27.3) $(25.4) Purchases of property and equipment $(5.3) $(2.1) Capitalized software development costs -- $(2.2) Cash paid for employ
Slide 23: The automation software company
The automation software company HUMBLE BOLD FAST IMMERSED 23