UiPath stock drops even as results top Street expectations

1 year ago 234
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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.

Read: UiPath IPO: 5 things to cognize astir the ‘software robots’ institution valued astatine astir $30 billion

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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