NYSE$PATH
UiPath Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
UiPath's ARR grew by 36% year-over-year, reaching $1.110 billion, and the company delivered meaningful non-GAAP operating margin expansion.
UiPath's Q3 2023 financial results showed positive performance with a 19% increase in revenue year-over-year, reaching $262.7 million. ARR grew 36% year-over-year to $1.110 billion, driven by net new ARR of $66.8 million. The company reported a GAAP operating loss of $(67.0) million but achieved a non-GAAP operating income of $18.0 million.
- Revenue increased 19% year-over-year to $262.7 million.
- ARR grew 36% year-over-year, reaching $1.110 billion.
- Net new ARR was $66.8 million.
- Dollar-based net retention rate was 126%.
Headline financials
Revenue & EPS history
UiPath · Revenue · Quarterly
$263M
Revenue by segment
UiPath · $263M total across 3 segments · Q3 2023
- Subscription Services$130M+32.9%49.5%
- Licenses$118M+5.9%45.0%
- Professional Services$14.4M+28.1%5.5%
Forward guidance
For the fourth quarter fiscal 2023, UiPath expects revenue in the range of $277 million to $279 million and ARR in the range of $1,174 million to $1,176 million as of January 31, 2023. The company also expects non-GAAP operating income of approximately $35 million.
Tailwinds
- Revenue in the range of $277 million to $279 million.
- ARR in the range of $1,174 million to $1,176 million as of January 31, 2023.
- Non-GAAP operating income of approximately $35 million.
- New go-to-market initiatives are driving results and resonating with customers.
- Platform approach at the core of their success.
Headwinds
- Reconciliation of non-GAAP operating income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts.
- High variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure.
- Effects of stock-based compensation expense specific to equity awards that are directly impacted by fluctuations in our stock price.
- Variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
- Market, political, economic, and business conditions, including geopolitical turmoil and macro-economic effects caused by the war in Ukraine, increasing inflationary cost trends, and foreign exchange volatility
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 Q3 2023
-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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