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Apr 30, 2022
UiPath Q1 2023 Earnings Report
UiPath's Q1 2023 financial results were released, showcasing revenue and ARR growth.
Key Takeaways
UiPath reported a strong first quarter for fiscal year 2023, exceeding guidance across all metrics. ARR reached $977.1 million, a 50% increase year-over-year, driven by net new ARR of $51.8 million. Revenue grew 32% year-over-year to $245.1 million. The company is raising its full fiscal year 2023 guidance, including an FX headwind offset by growing momentum in the business.
Revenue increased by 32% year-over-year, reaching $245.1 million.
ARR grew by 50% year-over-year, totaling $977.1 million.
Net new ARR amounted to $51.8 million.
Dollar-based net retention rate was 138%.
UiPath
UiPath
UiPath Revenue by Segment
Revenue by Segment
Licenses Revenue
CapyFin.comSubscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
For the fiscal second quarter 2023, UiPath expects revenue in the range of $229 million to $231 million and ARR in the range of $1,040 million to $1,042 million as of July 31, 2022. For the full fiscal year 2023, UiPath expects revenue in the range of $1,085 million to $1,090 million and ARR in the range of $1,220 million to $1,225 million as of January 31, 2023.
Positive Outlook
- UiPath expects revenue in the range of $229 million to $231 million for Q2 2023.
- UiPath expects ARR in the range of $1,040 million to $1,042 million as of July 31, 2022 for Q2 2023.
- UiPath expects revenue in the range of $1,085 million to $1,090 million for fiscal year 2023.
- UiPath expects ARR in the range of $1,220 million to $1,225 million as of January 31, 2023 for fiscal year 2023.
- UiPath anticipates growing momentum in the business.
Challenges Ahead
- UiPath expects Non-GAAP operating loss in the range of $(60) million to $(55) million for the fiscal second quarter 2023.
- UiPath's results are subject to foreign exchange volatility.
- UiPath's full fiscal year 2023 guidance includes an FX headwind.
- The company is facing macroeconomic effects from the war in Ukraine.
- The company is facing increasing inflationary cost pressures and supply chain constraints.
Revenue & Expenses
Visualization of income flow from segment revenue to net income