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September 7 , 2021 Uil Path UiPath Reports Second Quarter Fiscal 2022 Financial Results ARR of $ 726.5 million increased 60 percent year - over - year driven by record net new ARR of $ 73.9 million NEW YORK -- ( BUSINESS WIRE ) -- UiPath , Inc. ( NYSE : PATH ) , a leading enterprise automation software company , today announced financial results for its second quarter fiscal 2022 ended July 31 , 2021 . " We continued our very strong momentum in the second quarter of fiscal year 2022 with ARR growing 60 percent year - over - year to $ 726.5 million . Our results were driven by both new customer additions , ending the quarter with more than 9,100 customers , as well as robust expansion with existing customers , reflected in our best - in - class dollar - based net retention rate of 144 percent , " said Daniel Dines , UiPath Co - Founder and Chief Executive Officer . " The opportunity to unlock human potential is vast and we are in the very early stages of the automation market . We believe we have a long - term opportunity to drive durable growth and build a company that will transform how organizations compete , employees experience work , and companies interact with their customers . " • GAAP gross margin was 82 percent . • Non - GAAP gross margin was 86 percent . TM Ashim Gupta , UiPath Chief Financial Officer , added , " The team executed well this quarter as we continue to drive meaningful growth at scale . Our land and expand go - to - market model delivered record net new ARR , a testament to our competitive differentiation and the power of our platform to drive meaningful return on investment for our customers . Looking ahead , our priority is to continue to drive growth while exercising operational rigor , which will allow us to maintain our clear leadership position in this large and growing market . " Second Quarter Fiscal 2022 Financial Highlights ARR of $ 726.5 million as of July 31 , 2021 , increased 60 percent year - over - year . • Net new ARR of $ 73.9 million increased 33 percent year - over - year . • Revenue of $ 195.5 million increased 40 percent year - over - year . • Net cash used in operations was $ ( 6.0 ) million . • Non - GAAP adjusted free cash flow was $ ( 3.5 ) million . • Cash , cash equivalents , and marketable securities of $ 1.9 billion as of July 31 , 2021 . Recent Business Highlights • Named a Process Mining Leader in the Technology Vendor Landscape for the second consecutive year , according to Everest Group's Process Mining Products PEAK Matrix® Assessment 2021. UiPath has also emerged as one of the four - Star