The cheaper code becomes, the more orchestration is worth, argues Daniel Dines. Yes, he would say that, but it's a thesis that just gave UiPath its first profitable full year!

For the first time in its history, UiPath is a profitable company. Its latest earnings show full-year operating income of $57 million, $282 million in net income, $1.7 billion in cash, and no debt. It's a milestone that will doubtless get airtime at today's Fusion gathering in London. (More from that next week!)

However, despite the significance of fiscal developments, CEO Daniel Dines did not spend the post-earnings analyst call celebrating the numbers, but instead focused on an interesting thesis, specifically an argument that when the cost of building software falls – and it is falling rapidly – enterprises do not simply build less software; they build more. And, thankfully without saying 'SaaSpocalypse', he pitched:

We are at an inflection point in how software is built. Advances in AI are dramatically reducing the time and cost required to create software. And that has led to understandable questions in the ...