DOUBLE DIGITS FOR UIPATH Q3 RESULTS

Hammitt Bags A Growth Partner In Netsuite

Luxury US brand Hammitt is working with Oracle NetSuite to deliver a clientfocused, functional and fresh approach to modern handbags as it scales its business, with a NetSuite enterprise resource planning system.

The brand also uses NetSuite Inventory Management and Demand Planning, NetSuite CRM, and NetSuite Connector to sync order, inventory, and customer data from Shopify Hammitt can now manage its operations on a single cloud business system, increase efficiencies and reduce costs.

UiPath, the leading intelligent automation platform provider, announced financial results for its third quarter of fiscal 2023.

Annual recurring revenue (ARR) for the vendor grew 36 percent year-onyear, reaching $1.11bn after a net new ARR of $67m. Revenue for the third quarter reached $262.7m, a 19 percent increase YoY.

The company reported a non-GAAP operating income of $18m and a GAAP operating loss of $67m.

For Q4, UiPath is projecting revenues of

$277-279m and an ARR of $1.17bn. Non-GAAP operating income is expected to be approximately $35m.

“We are pleased with our third quarter fiscal 2023 results,” said Rob Enslin, UiPath co-chief executive officer. “Our new go-to-market initiatives are driving results and resonating with customers. We closed several notable third quarter deals using this value-selling approach and are widely engaged with both new and existing customers as we head into the last quarter of fiscal year 2023.” xxxx