UiPath stock drops even as results top Street expectations
UiPath Inc. shares fell successful the extended league Wednesday adjacent arsenic the “software robots” provider’s quarterly results topped Wall Street expectations.
UiPath PATH, +1.55% shares fell astir 6% aft hours, pursuing a 1.6% emergence successful the regular league to adjacent astatine $47.71, oregon 15% beneath their April IPO terms of $56 a share.
The institution reported a third-quarter nonaccomplishment of $122.8 million, oregon 23 cents a share, compared with a nonaccomplishment of $70.8 million, oregon 41 cents a share, successful the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and different items, were break-even a share, compared with a nonaccomplishment of 4 cents a stock successful the year-ago period.
Revenue roseate to $220.8 cardinal from $147.3 cardinal successful the year-ago quarter. The company’s annualized renewal tally rate, oregon ARR, roseate 58% to $818.4 cardinal from a twelvemonth ago. ARR is simply a metric often utilized by software-as-a-service companies to amusement however overmuch gross the institution tin expect based connected subscriptions.
Analysts surveyed by FactSet had forecast a nonaccomplishment of 4 cents a stock connected gross of $208.3 cardinal and an ARR of $797.9 million, based connected UiPath’s forecast gross of $207 cardinal to $209 cardinal and ARR of $796 cardinal to $798 cardinal for the 3rd quarter.
UiPath forecast gross of $281 cardinal to $283 cardinal and ARR of $901 cardinal to $903 cardinal for the 4th quarter, portion analysts expect gross of $281.5 cardinal and ARR of $880.3 million.
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