UiPath Q2 2023 Earnings Report
Key Takeaways
UiPath reported a solid second quarter with revenue of $242.2 million, a 24% increase year-over-year, and ARR of $1.043 billion, a 44% increase year-over-year. The company is strategically repositioning to elevate customer conversations, sell business outcomes, and help organizations realize the transformational benefits of automation.
ARR reached $1.043 billion, a 44% increase year-over-year.
Revenue increased 24% year-over-year to $242.2 million.
Net new ARR was $66.2 million.
Dollar based net retention rate was 132%.
UiPath
UiPath
UiPath Revenue by Segment
Forward Guidance
For Q3 2023, UiPath expects revenue in the range of $243 million to $245 million and ARR in the range of $1,091 million to $1,093 million as of October 31, 2022. For the full year fiscal 2023, UiPath expects revenue in the range of $1,002 million to $1,007 million and ARR in the range of $1,153 million to $1,158 million as of January 31, 2023.
Positive Outlook
- Revenue in the range of $243 million to $245 million for Q3 2023.
- ARR in the range of $1,091 million to $1,093 million as of October 31, 2022 for Q3 2023.
- Revenue in the range of $1,002 million to $1,007 million for full year fiscal 2023.
- ARR in the range of $1,153 million to $1,158 million as of January 31, 2023 for full year fiscal 2023.
Challenges Ahead
- Non-GAAP operating loss in the range of $(30) million to $(25) million for Q3 2023.
- Non-GAAP operating loss of approximately $(15) million for full year fiscal 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income