UiPath, Inc. (NYSE:PATH) reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.
The Details: UiPath reported quarterly earnings of 11 cents per share, which beat the analyst consensus estimate of seven cents. Quarterly revenue came in at $354.65 million which beat the analyst consensus estimate of $347.69 million and is an increase over sales of $325.92 million from the same period last year.
UiPath reported:
- ARR of $1.607 billion, increased 17% year-over-year.
- Net new ARR of $56 million.
- Dollar-based net retention rate of 113%.
- Non-GAAP gross margin was 85%.
- Non-GAAP operating income was $50 million.
- Net cash flow from operations was $28 million.
- Non-GAAP adjusted free cash flow was $33 million.
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“Our customers’ response to the agentic automation vision and roadmap that we announced at FORWARD has been energizing and reinforces our leading position in the AI-powered automation market,” said Daniel Dines, UiPath CEO.
“We have conviction that UiPath provides a differentiated approach to agentic automation that will expand our market opportunity by enabling customers to automate more complex and variable workflows to deliver enterprise-wide AI transformation,” Dines added.
Outlook: UIPath sees fourth-quarter revenue in a range of $422 million to $427 million, versus the $423.79 million estimate.
PATH Price Action: According to Benzinga Pro, UiPath shares are down 2.14% after-hours at $14.63 at the time of publication Thursday.
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Photo: Courtesy of UiPath, Inc.
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