Automation Anywhere Reports Stellar Q3 FY24 Thanks to Generative AI and Expanding Enterprise Customer Base

Surpassing profit expectations a quarter in advance, with a bright outlook for the subsequent quarter.

Automation Anywhere, a frontrunner in intelligent automation harnessing AI throughout organizations, dominated the third quarter with its impressive performance. Fueled by innovative generative AI automation products, substantial deals with large enterprises, and effective worldwide sales, the company's major deal value saw a year-on-year surge of over 35 percent, securing early profitability.

Transformative Quarter Accomplishments

• Noteworthy deals exceeding $100,000 in annual value were instrumental, accounting for over half of the quarter's bookings.
• The Enterprise segment excelled particularly in North America, APJ, India, and the Middle East.
• A majority of customers have adopted the company's Generative AI automation packages, which are bolstered by top-tier AI contributions from Anthropic, AWS, Google Vertex AI, Microsoft Azure, and OpenAI.
• A strong existing customer foundation, coupled with high retention rates and product leadership, contributed to a healthy cash flow and solid balance sheet.

Maureen Fleming from IDC highlights productivity as a crucial focus for organizations leveraging GenAI, signaling increased and accelerating investments in this transformative technology.

Mihir Shukla, Automation Anywhere's CEO, anticipates a historic opportunity for businesses to reimagine operations through automation and generative AI. He notes the evident attraction to intelligent automation as a secure, potent means of deploying AI and reaping prompt, significant ROI.

Generative AI: A Game-Changer in Automation

• The company announced a substantial enhancement to its automation platform, introducing a Responsible AI Layer. This innovative core allows the creation of sophisticated processes and workloads automatically, thereby reshaping how organizations operate.
• In addition to safety features, the Success Platform packs highly trusted AI tools, and security and governance elements essential for scaling AI-based automation while maintaining access controls and data privacy.
• Automation Anywhere unveiled four new generative AI-empowered automation products, designed to automate intricate operations and business workflows profoundly and swiftly, boosting outcomes and ROI.
• Gartner acknowledged Automation Anywhere as a Leader for the fifth year running in the Magic Quadrant for Automation, reflecting their vision and execution prowess.

For the period ending October 31, 2023, Automation Anywhere has decided not to disclose detailed financial statements, given its private company status.

About Automation Anywhere

Established as an intelligent automation pioneer, Automation Anywhere equips organizations globally to achieve efficiency and foster growth by integrating AI into every facet of their operations. Its comprehensive Automation Success Platform encompasses AI and generative AI capabilities, including RPA, process orchestration, document processing, and analytics. Through intelligent automation, the company unleashes human potential, driving the future of work. More information is available at the official company website.

Automation Anywhere is recognized in the United States and abroad as a trademark of Automation Anywhere, Inc.

Automation, AI, Performance