UiPath Inc. (NASDAQ: PATH) stock declined by 1.44% at last close while the PATH stock plunges by 4.66% in the after-hours trading session. UiPath’s aim is to create the Fully Automated Enterprise, in which businesses employ automation to reach their full potential. UiPath provides an end-to-end automation platform that combines the industry’s premier Robotic Process Automation (RPA) solution with a comprehensive set of capabilities that allow any company to swiftly grow digital business operations.
PATH stock’ Financial Highlights
UiPath Inc. announced its second-quarter fiscal 2022 financial results. Given below is the summary:
- The revenue for the second quarter fiscal 2022 is reported as $195.5 million which is an increase of 40% y-o-y.
- The GAAP gross margin calculated for Q2 fiscal 2022 was 82%.
- For the second quarter of fiscal 2022, the net cash in operations was $6.0 million.
- The values generated as Non-GAAP adjusted free cash flow was $3.5 million.
- As of July 31, 2021, the cash, cash equivalents, and marketable securities were $1.9 billion.
Ashim Gupta, PATH stock Chief Financial Officer, commented,
This quarter, the team performed admirably as they continue to scale meaningful growth. The land and expand go-to-market strategy generated record net new ARR, demonstrating their competitive uniqueness and the platform’s ability to generate considerable returns for the customers. Looking ahead, the top aim of UiPath is to preserve the obvious leadership position in this huge and developing market by continuing to drive growth while maintaining operational discipline.
- For the fiscal third quarter 2022 and fiscal full-year 2022, the ARR is expected to lie in the range of 4796 million to $798 million and $876 million to $881 million respectively.
- The revenue is expected to be between $207 million and $209 million.
- Also the Non-GAAP operating loss would be around $30 million and $15 million.