UiPath, Inc. - PATH STOCK NEWS

UiPath (NYSE: PATH) has maintained its leadership in the Robotic Process Automation (RPA) sector, being named a Leader and Star Performer for the fifth consecutive year in Everest Group’s RPA Products PEAK Matrix® Assessment 2021. The assessment identified UiPath as the only vendor to achieve this dual recognition, emphasizing its strong growth and investments in product innovation. Currently, UiPath serves over 60% of the Fortune 500 and 80% of the Fortune 10, showcasing its extensive reach and commitment to enhancing digital automation across organizations.

Alteryx (NYSE: AYX) and UiPath (NYSE: PATH) have expanded their strategic partnership with new integrations, enhancing analytics and robotic process automation (RPA). The partnership aims to unlock enterprise data value, accelerating digital transformation and improving business outcomes. A newly released connector allows users to seamlessly invoke UiPath bots within Alteryx workflows, optimizing data processes. The collaboration has previously enabled significant achievements, such as increasing unemployment benefits processing in Florida during the COVID-19 pandemic. Alteryx will showcase these advancements at the upcoming UiPath FORWARD IV conference.

UiPath has released a report highlighting the critical role of CIOs in promoting intelligent automation through robotic process automation (RPA), AI, and low-code/no-code solutions. The findings reveal that 29% of CIOs are focused on modernizing legacy systems, 26% on comprehensive process reengineering, and 24% on reducing repetitive tasks. The report emphasizes that organizations with proactive CIOs can better leverage automation to enhance business processes and remain competitive.

UiPath (NYSE: PATH) has partnered with People Tech Group to launch a new Robotic Process Automation (RPA) services capability. This initiative aims to enhance enterprise automation for global organizations, facilitating their digital transformation efforts. PTG will implement UiPath's leading automation platform alongside dedicated ongoing support, targeting efficient business operations. The partnership anticipates adding up to 1,000 specialists to develop industry-specific solutions over the next three years, significantly impacting sectors like automotive and healthcare.

UiPath announced its upcoming user conference, FORWARD IV, set for October 5-6, 2021, at the Bellagio in Las Vegas. The event will feature over 90 speakers from various sectors, including keynote addresses from UiPath leaders. Attendees will gain insights into automation strategies, the ROI of RPA initiatives, and hear real-world success stories. Moreover, UiPath will preview the 2021.10 release of its platform. The conference will prioritize health safety adherence due to COVID-19 and aims to drive creativity in an automation-first world.

UiPath has expanded its Academic Alliance program to over 1,000 higher education and workforce development institutions, providing RPA curricula and free software to students. The program has educated over 245,000 individuals in 63 countries and helped 30,000 secure employment in its first two years. As organizations adopt automation, the demand for RPA skills is rising, with the global RPA market expected to reach $2.9 billion in 2021. The total automation solutions market is estimated at $65 billion, highlighting significant growth potential.

UiPath reported second-quarter fiscal 2022 results, showcasing a remarkable 60% year-over-year growth in Annual Recurring Revenue (ARR), reaching $726.5 million. The company added $73.9 million in net new ARR, with a robust customer base of over 9,100 and a 144% dollar-based net retention rate. Revenue increased 40% to $195.5 million, supported by strong operational execution. The company anticipates fiscal third-quarter ARR between $796 million and $798 million, reflecting ongoing growth amid investments in its partner ecosystem and product integrations.

UiPath, a leader in enterprise automation, announced its FORWARD IV conference is nearly sold out, occurring on Oct. 5-6, 2021, in Las Vegas. This event will feature industry experts and reveal insights on automation's role in digital transformation. Key sponsors include AWS, Microsoft, Accenture, and Deloitte. The conference will also emphasize safety protocols due to COVID-19. Attendees can expect keynote speeches from UiPath executives, hands-on training, and discussions on governance and security, all focused on enhancing automation capabilities.

UiPath, Inc. (NYSE: PATH) will report its fiscal second quarter 2022 financial results on September 7, 2021, after market close. A conference call to discuss the results is scheduled for 5:00 PM ET, allowing stakeholders to gain insights into the company's performance. UiPath focuses on enterprise automation, providing a comprehensive platform with leading Robotic Process Automation (RPA) solutions to help organizations optimize their operations.