UiPath Inc. (PATH) CFO Ashim Gupta Hosts Barclays 22nd Annual Global Technology Conference (Transcript)

UiPath Inc. (NYSE:PATH) Barclays 22nd Annual Global Technology Conference December 11, 2024 11:40 AM ET

Company Participants

Ashim Gupta - Chief Financial Officer

Conference Call Participants

Raimo Lenschow - Barclays

Operator

Hey, welcome to our next session. Hi, [Evan] (ph). Hey, really happy to have Ashim from UiPath here. Your role's expanding like crazy. You know, like -- do you still have time to sleep?

Ashim Gupta

I still have time to sleep and hug my kids. Those are the two most important things.

Raimo Lenschow

The quick one, like because you had a report -- numbers out last week, maybe we start with like a quick summary on the numbers and then we take it from there.

Ashim Gupta

Yes, I think we were really pleased with our third quarter results. When you step back and you look at it, we delivered -- we beat our numbers across the board for ARR, revenue, operating margin, and free cash flow. And when we look at the quarter, we saw -- our ARR continue to be at 17% growth. We drive and run our business to ARR because of our 606 accounting. We saw positive movement in operating margin really reflecting the outperformance or the well -- the good execution in terms of streamlining the organization.

And when you look at our core metrics, net dollar expansion rate continues to be a strong point for us in terms of 113%. What was very encouraging, it was -- last quarter we had crossed 300 customers greater than $1 million. So if you put that in perspective, in 2000 -- Raimo was just talking about 2019 questions. Back then we were less than 100 customers, greater than $1 million. So we had crossed 300 customers greater than $1 million. And when you look at what we talked about for the total year, we continue to drive free cash flow at