UiPath Stock Plummets After Q1 Results: Here's Why

Zinger Key Points
  • UiPath announces Rob Enslin will resign as CEO and as a member of the UiPath Board of Directors, effective June 1, 2024.
  • Quarterly sales clock in at $335 million, which beat the analyst consensus estimate of $333.04 million.

UiPath, Inc. PATH reported its first-quarter financial results and announced a chief executive officer transition after the bell Wednesday. Here's a look at the details from the report. 

The Details: UiPath reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate of 12 cents by 8.33%.

Quarterly sales came in at $335 million, which beat the analyst consensus estimate of $333.04 million and represents a 15.68% increase over sales of $289.59 million from the same period last year.

The company reported ARR of $1.508 billion, an increase of 21 percent year-over-year, cash flow from operations was $100 million and non-GAAP adjusted free cash flow was $101 million

“We are pleased to report that ARR surpassed $1.5 billion in the first quarter of fiscal 2025, a testament to our market-leading Business Automation Platform and the strategic role automation plays in digital transformation,” said Daniel Dines, UiPath founder and chief innovation officer.

“We believe the foundation of our business remains strong and we are optimistic about our ability to drive growth and profitability through improved execution, customer centricity, and continued innovation.”

The company also announced Rob Enslin will resign as CEO and as a member of the UiPath board of directors, effective June 1, 2024. Daniel Dines, founder and former CEO of UiPath, will be reappointed CEO, also effective June 1, 2024.

Outlook: UiPath sees second-quarter revenue in the range of $300 million to $305 million and fiscal year 2025 revenue in a range of $1.405 billion and $1.41 billion.

Related News: What’s Going On With AMC Entertainment Stock Today?

PATH Price Action: According to Benzinga Pro, UiPath shares are down 30.33% after-hours at $12.75 at the time of publication Wednesday.

Image: Courtesy of UiPath, Inc.

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