https://assets.capyfin.com/instruments/678fdc13234e27009c5d5d70.png avatar
UiPath
🇺🇸 NYSE:PATH
View Company
OverviewEarningsDividends
•
Apr 30, 2023

UiPath Q1 2024 Earnings Report

UiPath's Q1 2024 earnings reflected a focus on growth and increased profitability, with revenue outperformance and record non-GAAP operating margin.

Key Takeaways

UiPath reported Q1 2024 revenue of $289.6 million, an 18% increase year-over-year, and ARR of $1.249 billion, a 28% increase year-over-year. The company's cash flow from operations reached $67.3 million, and non-GAAP adjusted free cash flow reached $72.7 million.

Revenue increased 18 percent year over year to $289.6 million.

ARR increased 28 percent year over year to $1.249 billion.

GAAP gross margin was 85 percent, while non-GAAP gross margin was 87 percent.

Net cash flow from operations was $67.3 million, and non-GAAP adjusted free cash flow was $72.7 million.

Total Revenue
$290M
Previous year: $245M
+18.2%
EPS
$0.11
Previous year: -$0.03
-466.7%
Annualized Recurring Revenue
$1.25B
Previous year: $977M
+27.8%
Gross Profit
$246M
Previous year: $200M
+22.9%
Cash and Equivalents
$1.31B
Previous year: $1.68B
-21.9%
Free Cash Flow
$72.7M
Previous year: -$53.8M
-235.2%
Total Assets
$2.64B
Previous year: $2.42B
+9.0%

UiPath

UiPath

UiPath Revenue by Segment

Forward Guidance

UiPath provided financial outlook for the second quarter and full fiscal year 2024.

Positive Outlook

  • Second quarter revenue is expected to be in the range of $279 million to $284 million.
  • Second quarter ARR is expected to be in the range of $1.301 billion to $1.306 billion as of July 31, 2023.
  • Second quarter non-GAAP operating income is expected to be approximately $10 million.
  • Full year revenue is expected to be in the range of $1.267 billion to $1.272 billion.
  • Full year ARR is expected to be in the range of $1.427 billion to $1.432 billion as of January 31, 2024.

Challenges Ahead

  • Reconciliation of non-GAAP operating income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis.
  • The high variability, complexity, and low visibility with respect to the charges excluded from this non-GAAP measure make it difficult to predict future GAAP financial results.
  • The effects of stock-based compensation expense specific to equity compensation awards are directly impacted by unpredictable fluctuations in UiPath's stock price.
  • UiPath expects the variability of the above charges to have a significant, and potentially unpredictable, impact on future GAAP financial results.
  • Full year non-GAAP operating income is expected to be approximately $168 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View UiPath