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This statistic highlights UiPath’s Revenue by Segment, split across Licenses, Professional services and Subscription services segments, reported quarterly from Q1 2021 onwards.
|Segment||Q4 2022||Q1 2023||Q2 2023||Q3 2023||Q4 2023||Revenue mix by Q4 2023|
|Professional services and other||15.72||12.57||13.87||14.41||22.66||5.0%|
(All figures are in USD millions, except percentages)
The majority of the company’s sales are term licenses, which provide clients the right to use software for a predetermined timeframe (including the term license component of Flex Offerings). Revenue for licenses is recognized when the customer is able to use and benefit from the software, which is typically upon the customer’s arrival or the start of the renewal term.
In Q3 2023, the licenses had revenue of $118.18 million, but by Q4 2023, the amount had grown to $190.47 million. This demonstrates a 61.17% rise in the company’s revenue in this segment. This segment contributed 41.8% to the revenue in Q4 2023.
Professional Services and Others
Professional services and other revenues include fees for process automation, customer education, and training services. These professional services contracts are set up on a time and materials or fixed price basis, and the associated revenue is recognized when the services are provided.
Only 5% of the total revenue comes from this segment. Revenue was $14.41 million in the third quarter of 2023, and it grew by 57.25% to $22.66 million in the fourth quarter.
The firm generates subscription services revenue through the provision of (1) maintenance and support services, which include technical support and unspecified updates and upgrades on a when-and-if-available basis for their licenses, and (2) SaaS products, including those sold as part of their Flex Offerings.
This segment is the highest contributor to the revenue with 53.3%. It is grown by a huge 86.6% in Q4 2023 compared to Q3 2023.
About UiPath Inc
UiPath Inc. is a well-known software company specializing in robotic process automation (RPA). Daniel Dines and Marius Tirca launched the company in Romania in 2005, however, it now has its headquarters in New York City, USA.
RPA technology from UiPath has risen significantly in acceptance and popularity, and the company has expanded quickly over time. It has also attained the tag of a “unicorn” company, which denotes that it has surpassed a valuation of $1 billion, and has received significant funding from investors.
The company’s RPA technology is frequently utilized by various industries to automate operations in departments including finance, accounting, human resources, customer care, and more. It helps organizations in streamlining their operations, lowering human mistake rates, and freeing up precious labor for more challenging and strategic jobs.
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