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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