UiPath Stock Surges On Q3 Earnings, Company Continues To Invest In AI

Zinger Key Points
  • UiPath beat analyst estimates on the top and bottom line.
  • The company says it's continuing to make investments in AI.

UiPath Inc PATH shares are trading higher in Thursday's after-hours session following the company reporting better-than-expected financial results.

  • Q3 Revenue: $325.92 million beat estimates of $315.55 million
  • Q3 EPS: 12 cents beat estimates of 7 cents

Revenues were up 24% year-over-year. Annual recurring revenue was also up 24%. Cash flow from operations came in at $42 million, and adjusted free cash flow totaled $44 million. 

UiPath ended the quarter with $1.8 billion in cash, equivalents and marketable securities.

"My conversations with customers and partners validate the strategic role enterprise automation plays in digital transformation and I am excited about the investments we continue to make in AI to further extend our market leadership," said Rob Enslin, co-CEO of UiPath.

Outlook: UiPath expects fourth-quarter revenue to be in the range of $381 million to $386 million versus estimates of $383.02 million. The company anticipates adjusted operating income of approximately $78 million.

"Given the strength of our business model we expect to balance growth and profitability, while investing in the business to position UiPath for long-term success," said Ashim Gupta, CFO of UiPath.

See Also: Ulta Beauty Q3 Earnings Highlights: Comparable Sales Up 4.5%, Traffic Trends Remain Healthy, CFO Succession Plan And More

PATH Price Action: UiPath shares were up 11.9% after hours at $22.19 at the time of publication, according to Benzinga Pro.

Photo: courtesy of UiPath.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceAfter-Hours CenterMoversAIartificial intelligencewhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!