Uipath Inc - PATH STOCK NEWS

UiPath (NYSE: PATH) has launched its inaugural CIO Automation Council, featuring 17 innovative CIOs aimed at accelerating automation maturity across industries. The Council seeks to share best practices, identify new market needs, and establish industry benchmarks to enhance the role of CIOs in automation. Notably, 78% of business executives surveyed indicated they are likely to invest more in automation due to labor shortages. The Council will also focus on improving employee experience through automation and leveraging low-code and AI capabilities.

UiPath (NYSE: PATH) released its 2021 Impact Report, showcasing its commitment to ESG (Environmental, Social, and Governance) initiatives. The report outlines progress on key ESG indicators, emphasizing areas such as environmental sustainability, workforce engagement, and corporate governance. Co-CEO Daniel Dines highlighted the company's dedication to minimizing environmental impact and creating long-term shareholder value. The report aligns with SASB standards and UN SDGs, offering metrics on diversity, community outreach, and energy management, while underscoring the importance of automation technology in driving positive societal change.

UiPath has been named a Process Mining Leader for the third consecutive year by the Everest Group in its PEAK Matrix® Assessment. This recognition highlights UiPath's strong performance, innovation, and enhancements in its Process Mining capabilities. The platform offers over 50 pre-built connectors to major enterprise systems, enabling businesses to efficiently analyze and automate complex processes. Companies like Coca-Cola İçecek and Salesforce are already benefiting from these insights, which drive significant cost savings and operational improvements.

UiPath, Inc. (NYSE: PATH) reported its first quarter fiscal 2023 results, showcasing strong growth with an ARR of $977 million, up 50 percent year-over-year, and revenue of $245.1 million, a 32 percent increase. The company achieved a dollar-based net retention rate of 138 percent and maintained a robust gross margin of 82 percent. Despite a non-GAAP adjusted free cash flow of negative $53.8 million, the outlook remains positive with raised guidance for the second quarter and full fiscal year, highlighting significant growth opportunities.

UiPath, a leader in enterprise automation, will be presenting at two major investor conferences. Daniel Dines, Co-Founder and Co-CEO, and Ashim Gupta, CFO, will speak at the Cowen 50th Annual Technology, Media & Telecom Conference on June 2, 2022, at 2:10 pm ET in New York City. They will also present at the Bank of America 2022 Global Technology Conference on June 7, 2022, at 8:45 am PT in San Francisco. Investors can access live webcasts of these presentations on the Investor Relations section of their website.

UiPath (NYSE: PATH) has integrated its automation platform with Adobe Document Services and Adobe Acrobat Sign. This collaboration aims to enhance end-to-end document workflows, boosting employee productivity and reducing costs. A study by Forrester indicates that 97% of organizations with minimal digital document processes face productivity declines. The integration offers benefits like accelerated document generation, automated processing within workflows, and reliable, scalable automation. This aligns with UiPath's vision of delivering the Fully Automated Enterprise.

UiPath (NYSE: PATH) has partnered with airSlate to enhance workflow automation for small businesses. With airSlate's 900,000+ customers and UiPath's 10,000+ organizations using its automation platform, the partnership aims to create innovative solutions for efficient business operations. This collaboration will leverage airSlate's no-code platform to automate mundane tasks, ultimately boosting productivity and employee satisfaction. Both companies recognize the significant role small businesses play in the global economy, making this partnership a strategic move to meet increasing market demands.

UiPath (NYSE: PATH) has launched its new Automation Cloud Robots as part of the 2022.4 platform release, aimed at enhancing enterprise automation capabilities. The new offering allows businesses to deploy SaaS robots instantly, improving agility and operational efficiency. Key features include frictionless development tools, enhanced security measures, and cross-platform automation support. UiPath is also expanding its Marketplace with end-to-end business solutions, providing partners with new monetization opportunities.