UiPath Inc. (PATH) Reports Q1 EPS of $0.02 on Revenues of $186.2M; Offers 2Q Revenues Outlook

UiPath Inc. (NYSE: PATH) reported Q1 EPS of $0.02, versus ($0.09) reported last year. Revenue for the quarter came in at $186.2 million, versus $113.1 million reported last year.

Fiscal First Quarter 2022 Financial Highlights

• ARR of $652.6 million increased 64 percent year-over-year.
• Revenue of $186.2 million increased 65 percent year-over-year.
• GAAP gross margin was 74 percent.
• Non-GAAP gross margin was 88 percent.
• Cash flow used in operations was $(17.5) million.
• Non-GAAP free cash flow was $(20.1) million.
• Balance sheet: Cash, cash equivalents, restricted cash, and marketable securities increased to $1.9 billion as of April 30, 2021.

“We had an exceptionally strong start to fiscal year 2022 with first quarter ARR growing 64 percent year-over-year to $653 million, a testament to our leadership position in enterprise software automation,” commented Daniel Dines, UiPath Co-Founder and Chief Executive Officer. “We believe automation is the next layer in the software stack. Our vision is to enable the fully automated enterprise through our unique combination of UI Automation, API Management, and AI to best emulate human workers and help organizations assign all automatable work to robots enterprise-wide. Our end-to-end automation platform, flexible deployment model, and growing ecosystem of partners position us well to capitalize on the more than $60 billion market opportunity ahead of us.”

Ashim Gupta, UiPath Chief Financial Officer, added, “I am pleased with our first quarter fiscal 2022 results as we continue to execute well against our land and expand go-to-market strategy. We have experienced rapid growth and now have over 8,500 customers worldwide, including 1,105 customers with ARR of $100,000 or greater and 104 customers with ARR of $1 million or greater. Given our existing momentum, we plan to continue to invest in growth while maintaining operational rigor as we run our business.”

GUIDANCE:

UiPath Inc. sees Q2 2022 revenue of $180-185 million.

For the fiscal second quarter 2022, UiPath expects:

• ARR in the range of $702 million and $704 million
• Revenue in the range of $180 million and $185 million
• Non-GAAP operating loss in the range of $(35) million and $(25) million

For the fiscal full year 2022, UiPath expects:

• ARR in the range of $850 million and $855 million

For earnings history and earnings-related data on UiPath Inc. (PATH) click here.

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