Slide 1: F4Q & FY 2023 Earnings Supplemental Slides
F4Q & 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: Financial highlights
Financial highlights Metrics 4Q 2023 FY 2023 Revenue $309 million $1.1 billion Revenue growth year-over-year 7% 19% Revenue FX adjusted growth year-over-year1 12% 27% ARR2 $1.2 billion ARR2 growth year-over-year 30% ARR2 FX adjusted growth year-over-year3 34% GAAP Operating Loss $(45) million $(348)
Slide 4: 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 seamlessly
Slide 5: NorthStar: Reaching the CXO
NorthStar: Reaching the CXO Engage Explore Execute NorthStar executive briefing Value roadmap Execution planning Executive engagement Process discovery workshop Business case development Industry insights Customer benchmarking 5
Slide 6: Customer momentum
Customer momentum Scaling large customers Becoming C-Suite priority (Customers ≥ $100k ARR1, 2) (Customers ≥ $1 million ARR1) 229 1,785 1,493 158 4Q 2022 4Q 2023 4Q 2022 4Q 2023 Notes: 1. See Appendix for definition of Annualized Renewal Run-rate (ARR) 2. Customers ≥ $100k ARR inclusive of customers
Slide 7: Go-to-market enhancements
Go-to-market enhancements Salesforce Solution Pricing & Partner NorthStar segmentation Accelerators packaging ecosystem Target accounts with Sell business outcomes Blueprint for automation Simplify sale Leverages largest partners highest propensity to C-Level discovery, design, and for enablement to
Slide 8: Verticals and solutions
Verticals and solutions Prioritizing Healthcare Financial Services Manufacturing Public Sector 8
Slide 9: Solution Accelerators
Solution Accelerators Speed your innovation for automation discovery, design, and development Discover Design Develop Accelerate automation identification of Jumpstart design with pre-built, Fast-track automation production proven processes defined by industry modular frameworks aligned to UiPath ex
Slide 10: Aligning sales resources to opportunity
Aligning sales resources to opportunity Prior model FY 2024 segmentation model Enterprise Enterprise Corporate/ Mid-Market Corporate/Mid-Market/SMB SMB 10
Slide 11: The UiPath Business Automation Platform
The UiPath 3usiness It's The Foundation of Innovation” because it can be used everywhere, veryone, for everything. To benefit every bus Ui Path ie aren ~ Automation Platfor mn
Slide 12: Industry analyst recognition
Industry analyst recognition The Forrester Wave™: Robotic Process Automation, Q1 20231 UiPath named a leader with the highest scores in the Current Offering, Strategy, and Market Presence categories Forrester Research Forrester Disclaimer The Forrester Wave™ is copyrighted by Forrester Research, Inc
Slide 13: Cloud ARR >$350M
The most Flexible enterprise- comprehensive platform ready capability The fastest path to The most adaptable automation value and scalable delivery The highest ROI option Trust and security for new customers at the core Notes: 1. Cloud ARR includes both hybrid and SaaS offerings Cloud ARR1 >$350M 13
Slide 14: Automate more with the combination of RPA and AI
Automate more with the combination of RPA and AI Assist humans and focus on thinking Increasingly cognitive and complex tasks Pattern recognition Semi-structured and unstructured data Probabilistic and high-variability
Slide 15: Clipboard AI Private Preview
Clipboard AI Private Preview Intelligently transfer data between documents, spreadsheets, and apps by understanding the structures of your content and automatically inserting critical data into the right places. Empower more business users to easily take advantage of automation without any coding or
Slide 16: Financials
Financials [Ui]Path serves
Slide 17: Driving durable growth
Driving durable growth ARR1 $ in millions 48%2 CAGR $1,204 $1,110 $1,043 $977 $925 $818 $726 $653 $580 $518 $453 Notes 1. See Appendix for definition of Annualized Renewal Run-rate (ARR) and dollar based net retention rate 2. CAGR for the period 2Q 2021 – 4Q 2023 3. ARR, Dollar based net retention r
Slide 18: GAAP financial results
GAAP financial results ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 Revenue $308.5 $289.7 $1,058.6 $892.3 GAAP gross margin 85% 86% 83% 81% GAAP operating expenses: Sales and marketing $173.8 $174.8 $701.6 $697.7 Research and development $81.9 $64.4 $285.8 $276.7 General and administrative $50.4 $60.2 $239.
Slide 19: Non-GAAP financial results
Non-GAAP1 financial results ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 Non-GAAP gross margin 87% 88% 86% 87% Non-GAAP operating expenses: Sales and marketing $125.8 $131.4 $520.4 $418.7 Research and development $51.7 $39.0 $181.0 $135.1 General and administrative $22.0 $43.3 $141.7 $147.1 Non-GAAP operati
Slide 20: Guidance
Guidance1 1Q 2024 Guidance2 ARR3 $1.245 billion – $1.250 billion Revenue $270 million – $272 million Non-GAAP Operating Income ~$5 million FY 2024 Guidance2 ARR3 $1.425 billion – $1.430 billion Revenue $1.253 billion – $1.258 billion Non-GAAP Operating Income ~$120 million Notes: 1. Guidance inheren
Slide 21: FY 2024 model notes
FY 2024 model notes FX • Year over year foreign exchange headwind expected to continue in the first quarter • 1H FY 2024 net new ARR1 expected to be approximately $100 million Net new ARR1 • 2H FY 2024 net new ARR1 expected to reflect similar seasonal patterns as 2H FY 2023 • 1H FY 2024 revenue expe
Slide 22: FY 2024 model notes
FY 2024 model notes Non-GAAP Operating Income1 • FY 2024 non-GAAP operating income1 expected to reflect similar seasonal patterns as FY 2023 • FY 2024 non-GAAP adjusted FCF1 expected to be approximately $100 million Non-GAAP Adjusted Free Cash Flow1 • All quarters in FY 2024 expected to be positive
Slide 23: Questions?
Questions? The Foundation [uil Pat of Innovation”
Slide 24: Thank you!
The Foundation lui] Pat of Innovation” & Thank you!
Slide 25: Appendix
Appendix [Ui]Path serves
Slide 26: Definitions and calculations
Definitions and calculations Annualized Renewal Run-rate (ARR): Annualized Renewal Run-rate (ARR) is a key performance metric we use in managing our business because it illustrates our ability to acquire new subscription customers and to maintain and expand our relationships with existing subscripti
Slide 27: GAAP to Non-GAAP reconciliation
GAAP to Non-GAAP reconciliation Total gross margin ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 GAAP revenue $308.5 $289.7 $1,058.6 $892.3 GAAP gross profit $260.9 $248.5 $878.5 $723.4 GAAP gross margin 85% 86% 83% 81% Add: Stock-based compensation expense $5.9 $5.0 $23.7 $42.1 Amortization of acquired inta
Slide 28: GAAP to Non-GAAP reconciliation (cont’d)
GAAP to Non-GAAP reconciliation (cont’d) Sales and marketing ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 GAAP sales and marketing $173.8 $174.8 $701.6 $697.7 Less: Stock-based compensation expense $37.5 $35.9 $154.9 $238.0 Amortization of acquired intangible assets $0.7 $0.4 $2.2 $1.4 Employer payroll tax
Slide 29: GAAP to Non-GAAP reconciliation (cont’d)
GAAP to Non-GAAP reconciliation (cont’d) Total operating margin ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 GAAP revenue $308.5 $289.7 $1,058.6 $892.3 GAAP operating loss $(45.1) $(50.9) $(348.3) $(500.9) GAAP operating margin (15)% (18)% (33)% (56)% Add: Stock-based compensation expense $99.0 $77.0 $369.8
Slide 30: GAAP to Non-GAAP reconciliation (cont’d)
GAAP to Non-GAAP reconciliation (cont’d) Non-GAAP adjusted free cash flow ($M) 4Q 2023 4Q 2022 FY 2023 FY 2022 GAAP revenue $308.5 $289.7 $1,058.6 $892.3 GAAP net cash flows provided by (used in) $94.0 $(6.0) $(10.0) $(55.0) operating activities Purchases of property and equipment $(2.2) $(3.2) $(23
Slide 31: The automation software company
The automation software company HUMBLE BOLD FAST IMMERSED 31