- Automation Anywhere Announces Strong Q3 FY24 Performance Driven by the Power of Generative AI-Based Deals, Large Enterprise Customers and Global Momentum
Profitability is one quarter ahead of expectations and expects a strong fourth quarter
SAN JOSE, California, Nov. 21, 2023 /PRNewswire/ -- Automation Anywhere, a leader in intelligent automation that puts AI at the service of every aspect of an organization, today announced its strong third quarter results, driven by new AI-enhanced generative automation products, large enterprise customer deals, and global sales execution. With its strong performance and momentum in all regions of the world, the company reported that the dollar value of large deals increased by more than 35% year over year, helping the company achieve profitability ahead of schedule.
"Third-quarter results exceeded targets across all of our key metrics, with strong deal growth a strong sign that clients are increasingly adopting our platform for business transformation," said Mihir Shukla, CEO and co-founder. from Automation Anywhere. "Our GenAI-powered solutions and use cases contributed to 30% of hires, confirming that clients are looking for the powerful combination of AI and automation technologies to solve their complex challenges. The combination of strong revenue performance and disciplined cost control has allowed us to reinvest in growth. Building a lasting company with the "rule of 40" is one of our objectives and our financial results represent a tangible sign that we are on the right track."
According to Maureen Fleming, vice president of AI and Automation Research at IDC: “Improving productivity is one of the key areas of focus for organizations adopting GenAI and one of the main drivers of rapid and accelerated investments in this technology. "The convergence of cloud, automation and GenAI to deliver advanced capabilities aimed at efficiency and productivity will drive performance in organizations, and the growth of providers of these converged services."
"We are facing a once-in-a-generation opportunity to reimagine every aspect of an enterprise's business operations, with every department and function benefiting from automation and generative AI. We are seeing clear signs that "Intelligent automation are one of the best ways to safely and securely deploy AI across organizations and achieve significant ROI quickly," added Shukla.
Third Quarter Announcement Highlights
Automation Anywhere's third quarter ended on October 31, 2023. As a private company, Automation Anywhere does not disclose detailed financial information.
About Automation AnywhereAutomation Anywhere is a leader in intelligent automation solutions that put AI to work in every aspect of an organization. The company's Automation Success platform features specialized AI, generative AI, and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security- and governance-first approach. Automation Anywhere empowers organizations around the world to unlock productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision of driving the future of work by unlocking human potential through intelligent automation. More information available on the website www.automationanywhere.com.
Automation Anywhere is a registered trademark/service mark of Automation Anywhere, Inc. in the United States and other countries.
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