Uipath Inc - PATH STOCK NEWS

UiPath (NYSE: PATH) has enhanced its global sales leadership with the appointments of Mark Gibbs as Senior VP for EMEA and promotion of Ryan Mac Ban to Senior VP of Sales for the Americas. Gibbs, previously with SAP, drove significant revenue growth in China, while Mac Ban has a strong track record at UiPath, contributing to substantial business expansion. These leadership changes aim to boost market penetration and enhance operations as UiPath pursues its vision of the Fully Automated Enterprise™.

UiPath, Inc. (NYSE: PATH) reported Q2 fiscal 2023 results, showcasing a milestone with ARR surpassing $1 billion, reaching $1.043 billion, up 44% year-over-year. Revenue also increased by 24% to $242.2 million. The net new ARR was $66.2 million, with a dollar-based net retention rate of 132%. Despite a non-GAAP operating loss of $(30) million to $(25) million projected for Q3, the company plans to balance long-term growth investments with operational adjustments. Financial outlook for full-year revenue is between $1.002 billion to $1.007 billion.

UiPath (NYSE: PATH) has announced that Rob Enslin, Co-CEO, and Ashim Gupta, CFO, will present at the Evercore ISI 2nd Annual Technology, Media and Telecom Conference. The event is scheduled for September 7, 11:00 am ET, at The Westin New York at Times Square.

The presentation will be accessible via live audio webcast and archived on the Investor Relations section of their website. UiPath aims to deliver the Fully Automated Enterprise™, offering an end-to-end platform for automation to help businesses scale digital operations.

UiPath (NYSE: PATH) has appointed Brigette McInnis-Day as its new Chief People Officer, effective September 2022. McInnis-Day brings over 20 years of experience from companies like Google and SAP, focusing on talent acquisition and development. Her goal at UiPath is to enhance company culture and drive sustainable growth. This change follows the departure of Bettina Koblick, the former Chief People Officer, who leaves to pursue other opportunities. UiPath continues its mission to deliver the Fully Automated Enterprise™.

UiPath, Inc. (NYSE: PATH) will announce its fiscal second quarter 2023 financial results on September 6, 2022, after market close. A conference call to discuss these results will follow at 5:00 pm ET. Investors can access the call via a toll-free number or through a webcast. UiPath aims to deliver automation solutions that help organizations maximize their operational efficiency, emphasizing its commitment to creating the Fully Automated Enterprise™.

UiPath (NYSE: PATH) has announced a stronger partnership with Accelirate, introducing a managed services practice aimed at increasing automation efficiency for businesses. This collaboration offers lower total ownership costs and simplifies implementation strategies for clients across various sectors, including finance and healthcare. A Forrester study highlighted that automation projects could see a 50% acceleration, with potential ROI of 97%. Accelirate's RPA365 services are expected to enhance productivity and operational efficiency, supporting companies in their automation journeys.

UiPath (NYSE: PATH) has expanded its integrations with Box, enhancing its automation capabilities for document management and e-signature processes. This integration allows organizations to streamline content collection, routing, and distribution, significantly improving productivity and reducing manual tasks. The partnership also enhances security with Box's compliance measures. The integration is projected to help organizations efficiently manage e-signatures and critical business processes, aligning with trends in enterprise automation.

UiPath (NYSE: PATH) announces the acquisition of Re:infer, a London-based natural language processing company, enhancing its AI capabilities for unstructured communications. Re:infer's technology allows for mining context from messaging, facilitating customer service automation. This acquisition aligns with UiPath's vision of a fully automated enterprise.

Combining forces is anticipated to unlock new automation opportunities, benefiting clients like Deutsche Bank and Hiscox Ltd. Terms of the deal were undisclosed, with further details to be unveiled at the UiPath FORWARD 5 conference.

UiPath (NYSE: PATH) has been recognized as a Leader in the 2022 Gartner Magic Quadrant for Robotic Process Automation for the fourth consecutive year. The company was positioned highest for Ability to Execute and furthest for Completeness of Vision. With over 10,330 customers, UiPath continues to drive innovation in automation technology, including new features like Automation Cloud Robots. The firm saw an increase in market share from 28.5% in 2020 to 34.1% in 2021, indicating solid growth and customer demand in the robotic process automation sector.