Romania-born UiPath surpasses USD 1 bln revenue threshold
Romanian-American IT company UiPath earned revenues of over USD 1 bln in its last fiscal year, which ended on January 31, 2023, but remained in the red, although its losses were thinner than expected.
On March 15, after the results were announced, PATH shares were up 15%, from USD 14.67 to USD 16.90.
According to unaudited results reported by the company and quoted by Startupcafe.ro, the robotic process automation (RPA) producer achieved total annual revenues of USD 1.06 bln in the fiscal year 2023 ended January 31, 2023, up 19% from last year.
But the software robot firm also made large investments and ended the year with USD 328 mln in losses, however lower than last year when it reported USD 525,586,000 in losses.
(Photo source: Facebook/UiPath)