NYSE$PATH
UiPath Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
UiPath's Q1 2024 earnings reflected a focus on growth and increased profitability, with revenue outperformance and record non-GAAP operating margin.
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.
Headline financials
Revenue & EPS history
UiPath · Revenue · Quarterly
$290M
Revenue by segment
UiPath · $290M total across 3 segments · Q1 2024
- Subscription Services$146M+26.7%50.5%
- Licenses$134M+14.6%46.3%
- Professional Services$9.2M-26.8%3.2%
Forward guidance
UiPath provided financial outlook for the second quarter and full fiscal year 2024.
Tailwinds
- 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.
Headwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-2.2%
Avg return
Earnings day
-2.7%
Avg return
5 days after
-7.6%
Avg return
30 days after
38%
9 / 24 earnings
Positive
+26.0%
Q3 2024
Best reaction
-35.6%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | -8.0% | -3.2% | -24.2% | |
| Q3 2026 | +24.4% | +27.7% | +6.9% | |
| Q2 2026 | +5.9% | +7.0% | +18.9% | |
| Q1 2026 | +2.9% | +0.9% | -1.6% | |
| Q4 2025 | -15.7% | -9.1% | -8.1% | |
| Q3 2025 | -3.4% | -4.0% | -13.4% | |
| Q2 2025 | -5.9% | -5.4% | -1.8% | |
| Q1 2025 | -35.6% | -36.4% | -32.4% | |
| Q4 2024 | -7.7% | -6.4% | -15.9% | |
| Q3 2024 | +26.0% | +24.2% | +25.0% | |
| Q2 2024 | +11.7% | +18.5% | +3.3% | |
| Q1 2024 | -12.7% | -6.1% | -5.4% | |
| Q4 2023 | +19.9% | +14.6% | +12.8% | |
| Q3 2023 | +16.5% | -0.2% | +1.9% | |
| Q2 2023 | -14.0% | -9.1% | -15.1% | |
| Q1 2023 | +15.1% | +13.6% | +9.6% | |
| Q4 2020 | -0.5% | -10.1% | -13.8% | |
| Q4 2022 | -31.2% | -27.4% | -43.2% | |
| Q3 2021 | -7.5% | -10.4% | -16.7% | |
| Q3 2022 | +0.1% | -7.4% | -16.6% | |
| Q2 2021 | -12.9% | -11.1% | -17.7% | |
| Q2 2022 | -10.9% | -12.7% | -17.4% | |
| Q4 2021 | -2.6% | -8.2% | -9.9% | |
| Q1 2022 | -7.0% | -3.2% | -7.4% | |
| Q1 2021 | — | — | — |
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