Shares of UiPath rose after the company swung to a third-quarter profit on higher sales, helped by growing demand for its artificial intelligence offerings.

The stock rose 7% in overnight trading. Through the market close shares are up 17% this year.

UiPath posted a third-quarter profit of $198.8 million, or 37 cents a share, compared with a loss of $10.7 million, or 2 cents a share, a year earlier.

Adjusted earnings per share were 16 cents, compared with estimates of 15 cents a share according to analysts polled by FactSet.

Revenue climbed 16% to $411.1 million, topping estimates for $392.7 million expected by analysts surveyed by FactSet.

UiPath gained momentum in the quarter as customers accelerated their AI and automation strategies, Chief Executive Daniel Dines said.

For the current quarter, the company expects sales of $462 million to $467 million. Analysts expect $463 million.