Highest non-GAAP profitable quarter,
increasing customer demand driving growth in AI Agent transactions
solidifying its position as #1 Agentic Process Automation
Platform
SAN
JOSE, Calif., Dec. 17,
2024 /PRNewswire/ -- Automation Anywhere, the
leader in AI-powered automation, announced its fifth consecutive
non-GAAP profitable quarter and increased margins. Following the
unprecedented surge in customer demand driving 2x growth in AI
Agent deals in Q3, the company has affirmed its place as #1 in
Agentic Process Automation. Automation Anywhere was first to
market, first to deploy at scale, and first to create business
specific AI Agent solutions for customers to deploy across any
vertical.
"Generative AI began with simple chat interactions and personal
productivity tools, but enterprises are now realizing its true
potential lies in enterprise agents that span multiple vendors,
driving dramatic outcomes and reshaping IT investments toward
AI-led innovation," said Mihir
Shukla, CEO and Co-Founder, Automation Anywhere. "It
showcases the transformative power of Agentic Process Automation to
empower businesses, drive competitive advantage, and redefine
what's possible in our rapidly evolving world.
Automation Anywhere's AI Agent launch in June 2024 created the new category of Agentic
Process Automation, which the company continues to lead, driving
measurable impact for enterprises globally. Additionally, this
quarter, more than 70 percent of new and upsell bookings were
driven by AI Platform Customers. As adoption scales across
industries such as financial services, healthcare, and
manufacturing, Automation Anywhere's Agentic Process Automation
solutions will continue to transform business workflows, helping
organizations achieve immediate efficiency gains and position
themselves for sustained growth in the AI-driven future.
Automation Anywhere saw higher than anticipated newer customer
interest for conversational automation powered by Amazon Q during
the third quarter. With this partnership, customers are eliminating
operational bottlenecks and transforming workflows into secure,
agile processes that deliver measurable business outcomes.
"We're excited to see AWS and Automation Anywhere bring
AI-powered services to enterprise process automation, blending
knowledge with LLM models to automate complex workflows," said
Rahul Patet, Automation Leader at
Alight, a leading cloud-based provider of integrated digital human
capital and business solutions. "We believe the power of AI-based
process automation has the ability to transform the way companies
operate in the future."
Key Business Highlights
- Customer demand driving 2x growth in AI Agent deals in Q3
- Continued to see double-digit growth in million-dollar ARR
customers
- 80% success rate from POC to production of AI agent
deployment across the globe
- Continued to maintain strong financial position: ended the
quarter with a robust cash balance, supported by growth in free
cash flow
Additional Highlights of the Quarter
- Recognized by Gartner as an Emerging Leader in the Emerging
Market Quadrant for AI Knowledge Management Apps
- Also, recognized by Gartner for Generative AI Engineering as an
Emerging Leader in the Emerging Market Quadrant
- Increased customer deployment of conversational automation by
Automation Anywhere, powered by Amazon Q
- Launch of AI agent solution accelerators with double digit
implementations in the marketplace
- Announced a strategic alliance with PwC India to help clients
realize greater growth, productivity and cost efficiencies across
their organizations
- Named to 2024 Newsweek's List of Top 200 America's Most Loved
Workplaces for employee sentiment and satisfaction
Automation Anywhere's third quarter ended October 31, 2024. As a private company,
Automation Anywhere does not disclose detailed financial
information.
About Automation Anywhere
Automation Anywhere is a leader in AI-powered process automation
that empowers organizations to drive productivity
gains, foster innovation, improve customer service, and
accelerate business growth. The company's AI + Automation
Enterprise System is powered by specialized AI,
autonomous AI agents, and offers process discovery, RPA,
end-to-end process orchestration, document processing, and
analytics — all with a security and governance-first approach.
Guided by its vision to fuel the future of work, Automation
Anywhere is dedicated to unleashing human potential through
AI-powered automation. Learn more at www.automationanywhere.com
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SOURCE Automation Anywhere, Inc.