NYSE$PATH

UiPath Inc. · Q4 2024 earnings

Q4 2024 earnings · · Investor relations

Briefing

UiPath's Q4 2024 earnings showcased record quarterly revenue and ARR growth, achieving GAAP profitability and strong cash flow.

UiPath reported a strong finish to fiscal year 2024, with Q4 revenue reaching $405 million, a 31% increase year-over-year, and ARR growing by 22% to $1.464 billion. The company achieved its first quarter of GAAP profitability and generated $146 million in cash flow from operations and non-GAAP adjusted free cash flow.

  • Revenue increased 31% year-over-year to $405 million.
  • ARR increased 22% year-over-year to $1.464 billion.
  • GAAP profitability was achieved for the first time as a public company.
  • Cash flow from operations and non-GAAP adjusted free cash flow reached $146 million.

Headline financials

Total Revenue

$405M

Previous: $309M+31.3%
EPS (adj)

$0.22

Previous: $0.15+46.7%
Annualized Recurring Revenue

$1.46B

Previous: $1.2B+21.3%
Capital Expenditures

-$3.78M

Previous: $2.2M-271.9%
Net Income

$33.9M

Previous: -$27.7M+222.5%
Operating Income

$15.1M

Previous: -$45.1M+133.4%
Gross Profit

$351M

Previous: $261M+34.6%
R&D Expense

$85.6M

No prior period
Stock-Based Comp

$88.9M

Previous: $99M-10.2%

Revenue & EPS history

UiPath · Revenue · Quarterly

$405M

Q4 2024+31.3%vs Q4 2023
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

UiPath · $326M total across 3 segments · Q3 2024

  • Subscription Services
    $168M+28.7%
  • Licenses
    $148M+25.3%
  • Professional Services
    $10.3M-28.4%

Forward guidance

UiPath provided financial outlook for the first quarter and full year fiscal 2025.

Tailwinds

  • Q1 2025 revenue is expected to be in the range of $330 million to $335 million.
  • Q1 2025 ARR is expected to be in the range of $1.508 billion to $1.513 billion as of April 30, 2024.
  • Q1 2025 Non-GAAP operating income is expected to be approximately $55 million.
  • FY 2025 revenue is expected to be in the range of $1.555 billion to $1.560 billion.
  • FY 2025 ARR is expected to be in the range of $1.725 billion to $1.730 billion as of January 31, 2025.

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 due to the 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 compensation awards that are directly impacted by unpredictable fluctuations in our stock price.
  • Variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
  • Guidance reflects typical seasonal patterns in the business.

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 Q4 2024

Historical avgQ4 2024

-2.1%

Avg return

Earnings day

-2.5%

Avg return

5 days after

-7.6%

Avg return

30 days after

40%

10 / 25 earnings

Positive

+26.0%

Q3 2024

Best reaction

-35.6%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2027+1.2%+1.0%
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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