UiPath, Inc. (PATH) shares climbed over 13% Thursday after the automation software company delivered better-than-expected third quarter results and signaled continued momentum heading into year-end.

The Numbers That Matter: UiPath reported adjusted earnings of 16 cents per share, topping the 15-cent consensus. Revenue came in at $411.11 million, comfortably beating estimates of $392.96 million.

Perhaps more importantly for growth investors, annualized recurring revenue hit $1.782 billion, representing 11% growth year-over-year. Net new ARR totaled $59 million for the quarter.

CEO Daniel Dines highlighted that the results "reflected continued momentum as enterprises adopt agentic automation and look for unified platforms." CFO Ashim Gupta emphasized that the company exceeded guidance across all major metrics and notched its first GAAP-profitable third quarter—a meaningful milestone for a company still in growth mode.

Looking Ahead: For the fourth quarter, UiPath expects revenue between $462 million and $467 million. The midpoint sits just above the $462.90 million consensus, suggesting management feels confident about closing out the year strong.

Price Action: At the time of writing, UiPath shares were trading 13.73% higher at $16.92.