So UiPath was early to what we now think of as “AI”, but blazed the path in automation.  Which is what a lot of SaaS and B2B AI is really about.  Automating away human-driven processes.  And its “Robotic Process Automation” did that to an extreme, rocketing it from $1m ARR to $1000m ARR in close to record time.  Growth slowed a bit, but now is re-accelerating.

At $1.5  Billion in ARR, it’s growing an impressive 31% last quarter and 22% year-over-year.  And it’s pretty darn efficient, with 27% non-GAAP Margins.

Being early has its bumps, but it pays off if you stay the course.

5 Interesting Learnings:

#1. Rule of “50” Efficiency

With 31% growth last quarter and 27% non-GAAP operating income, that’s better than Rule of 40 efficiency.  It’s Rule of 50.

#2.  NRR Holding Up at an Impressive 119%

100%+ NRR really can scale well past $1B ARR.  UiPath proves it again.

#3.  $1M+ ACV Customers Growing The Fastest

UiPath at $1B+ ARR is a tale of going … even more enterprise.  $1M+ customers are up 26% year-over-year.

#4.  Growing Headcount and Expenses, Just More Slowly Than Revenue

The story for most SaaS and Cloud leaders.  They are still hiring and growing expense in all areas, from Sales and Marketing to Product to G&A.  But they are growing all expenses more slowly than revenue.  Sales & Marketing expense is up 9.8% — but that’s on 22% revenue growth.  That’s how you get more efficient.  Grow headcount and expenses, but more slowly than bookings.

#5.  Modeling 3% Stock-Based Dilution a Year

A metric almost every leader is tracking more carefully now.  UiPath is modelling 3% a year.  Most startups model about 5%-6% a year, and see that come down at scale.

Scaling a SaaS Startup to $1B+ ARR: Insights from UiPath’s CEO and Founder (Podcast +Video)

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