Automation Anywhere’s Q4 demonstrates GenAI enthusiasm

Automation Anywhere has announced its fourth quarter results showing a record performance, boosted by its generative AI-powered automation solutions, large enterprise customer deals and robust sales worldwide. 

The company revealed that over the quarter ending January 31, 2024, deals over $100,000 in annualized value contributed to more than 75 percent of the bookings, with robust performance in the enterprise segment led by strong bookings globally.

In addition, the quarter saw customers complete more than 100,000 process automation runs powered by GenAI, highlighting a fast ramp as 95 percent of customers are now exclusively on the latest GenAI-powered Intelligent Automation platform.

With its strong performance and increased global momentum, the company reported that Q4 results exceeded its forecast and goals, demonstrating a 50 percent growth from the previous quarter and a 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 2025 fiscal year.”

The company also interpreted its high customer retention rate as a strong signal that its customers are engaged and aligned with Automation Anywhere’s strategy and vision. For example, 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 reached 3 million.

The quarter was also marked by hyperscaler channel partnerships outperforming the set quarter booking targets, spurred by Amazon Web Services, Google Cloud and Microsoft Azure collaborations.

Moving into the new fiscal year, Shukla explained that the company’s focus on industry and specific vertical solutions to help customers accelerate dramatic process automation results is “the focal point of strategy”. 

“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,” the CEO added.

In December 2023, Automation Anywhere announced its multi-year strategic collaboration with AWS to offer AA customers greater choice, flexibility and reliability for their GenAI deployments.

The collaboration enhanced AA’s portfolio in GenAI and intelligent automation to boost enterprise productivity and power business growth.