UiPath is a leading player in the robotic process automation market. Recently, the vendor announced its Q3 2022 Financial Results. According to the report, UiPath has generated a third-quarter loss of $122.8M compared with a loss of $70.8 million in the year-ago period. That was on revenue of $220.8 million during the period, up 50% from the same quarter a year ago. The company also reported annualized recurring revenue of $814.4 million, up 58% from a year ago. In addition, it showed a net new ARR of $91.9 million, up 44%.
After that, UiPath Inc. shares fell in the extended session Wednesday even as the “software robots” provider’s quarterly results topped Wall Street expectations. UiPath shares fell nearly 4% after hours, following a 1.6% rise in the regular session to close at $47.71, or 15% below their April IPO price of $56 a share.
“UiPath’s 50% revenue growth is strong, but its losses are piling up even more, and it is on track to lose more than half a billion US on a GAAP basis for the full year. That’s not a sustainable pace. Investors will be looking closely over the next full year to see what the management is doing to turn the company back towards a profit.”
Holger Mueller, Analyst, Constellation Research Inc.
