Continued Profitability, Quarterly Growth and Strong Momentum Heading into next fiscal year
SAN JOSE, Calif., March 11, 2024 /PRNewswire/ — Automation Anywhere, the leader in intelligent automation that puts AI to work across organizations, today announced it delivered record fourth quarter performance, boosted by its generative AI-powered automation solutions, large enterprise customer deals, and robust sales worldwide. With its strong performance and increased momentum globally, the company reported that Q4 results exceeded its forecast and goals, notably a 50 percent growth from the third quarter and 14 percent increase in large deals year on year.
"Our fourth quarter and full year 2024 results illustrate our ongoing ability to deliver value to our customers," said Mihir Shukla, CEO and Co-founder of Automation Anywhere. "This was a pivotal year for the company, building and sustaining robust growth, and achieving profitability ahead of schedule. We’re seeing more and more customers experience the tangible benefits of deploying AI and Intelligent Automation solutions at scale to help transform their business safely and securely. We have a very strong pipeline and tailwinds going into our fiscal year 2025."
The company’s high customer retention rate is a strong signal that customers are engaged, committed, and aligned with Automation Anywhere’s strategy and vision. Related, the Automation Anywhere Pathfinder community program realized a 20 percent growth rate over the past year, and the Automation Anywhere University all-time online course completions cracked a staggering 3 million.
"Our focus in industry and specific vertical solutions to help customers accelerate dramatic process automation results is the focal point of our strategy moving into our new fiscal year," Shukla continued. "The feedback we have received from our customers reaffirms the value that can be achieved from GenAI and automation. Our customers are responding to the enormous opportunity that GenAI-powered automation can bring, and they are pushing us to help them optimize the tangible, measurable, and transformational outcomes possible."
"We’ve deployed Automation Anywhere’s Intelligent Automation platform within various Osaic applications and process workflows and experienced impressive customer experience improvements and internal efficiencies," said Tim Hodge, Executive Vice President, Trading and Operations for Osaic. "We’re thrilled to be leveraging the power of Intelligent Automation in our business."
"We’ve implemented the capabilities of Automation Anywhere’s Intelligent Automation platform and are very impressed with early results and excited about the opportunities they are creating for our business," said Mark Conte, Chief Accounting Officer and Controller, JCPenney. "We expect the Automation Success Platform to help streamline labor-intensive processes as well as offer significant cost and materials savings in multiple areas across our organization."
Key Business Highlights
Deals over $100,000 in annualized value contributed more than 75 percent of the bookings in the quarter Robust performance in the Enterprise segment was led by strong bookings globally Customers completed more than 100,000 process automation runs powered with GenAI, highlighting a fast ramp in Q4 Ninety-five percent of customers are now exclusively on the latest GenAI-powered Intelligent Automation platform accelerating the value of Intelligent Automation solutions Hyperscaler channel partnerships outperformed fourth quarter booking targets, highlighted by Amazon Web Services, Google Cloud and Microsoft Azure Large customer base, high customer retention and winning product differentiation continues to lead to increased cash flow and strengthened balance sheet
Fourth Quarter Announcement Highlights
Automation Anywhere announced the availability of the industry’s first specialized, generative AI automation model to dramatically improve process automation development. Developed on top of the leading large language models and trained with anonymized metadata from more than 150 million automation processes across thousands of leading enterprise applications, these models are delivering massive productivity gains and 9x return on investment. The company is set to transform the automation market by helping companies rapidly create streamlined business process automations and save millions of dollars. The company announced a suite of new benchmarking services and a new customer benchmarking database initiative to help companies assess and maximize the business value of process automation deployments. These best practices help guide companies toward the highest value automation priorities faster than they could have determined on their own. Additionally, the new Automation Co-Pilot for Automators solution expanded to include a suite of on-demand, generative AI-powered automation capabilities that helps build enterprise-grade automations much faster and efficiently, with the ability to create streamlined business process automations to increase productivity and save significant costs. Automation Anywhere also entered into a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS), which enhances Automation Anywhere’s industry-leading expertise in generative AI and intelligent automation to boost enterprise productivity and power business growth, in addition to offering Automation Anywhere customers greater choice, flexibility and reliability for their generative AI deployments.
Automation Anywhere’s fourth quarter and 2024 fiscal year ended January 31, 2024. As a private company, Automation Anywhere does not disclose detailed financial information.
About Automation Anywhere
Automation Anywhere is the leader in intelligent automation solutions that put AI to work across every aspect of an organization. The company’s Automation Success Platform is powered with 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 worldwide to unleash productivity gains, drive innovation, improve customer service and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through intelligent automation. Learn more at 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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