UiPath's second quarter results indicate that enterprises are starting to realize that genAI-powered agents will require orchestration and process automation at the core.
UiPath CEO Rob Enslin resigned, the robotics process automation company cut its second quarter outlook and said the company is seeing "increased deal scrutiny and lengthening sales cycles for large multi-year deals."
UiPath reported better-than-expected fourth quarter results with revenue growth of 31% as its automation platform gains traction.
UiPath closed a record number of third quarter deals over $1 million in ARR. Customers with $1 million or more in ARR grew 31% to 264, while customers with $100,000 or more in ARR increased to 1,974.
UiPath launched Autopilot, which melds generative AI, domain specific AI and its automation platform, to automate work via natural language. The launch adds to the automation platform push at UiPath that's well underway as the company aims to shed its image as a robotics process automation (RPA) company.
