==UiPath (PATH) reported earnings on Wed 29 May 24 (a/h)

 

UiPath beats by $0.01, reports revs in-line; guides Q2 revs below consensus; guides FY25 revs below consensus; CEO departing

• Reports Q1 (Apr) earnings of $0.13 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.12; revenues rose 15.7% year/year to $335.11 mln vs the $333.08 mln FactSet Consensus.
• Co issues downside guidance for Q2 (Jul), sees Q2 revs of $300-305 mln vs. $342.32 mln FactSet Consensus.
• Co issues lowered guidance for FY25 (Jan), sees FY25 revs of $1.405-1.410 bln (down from $1.555-1.560 bln) vs. $1.56 bln FactSet Consensus.
  • Co added, "During the first quarter we saw increased deal scrutiny and lengthening sales cycles for large multi-year deals. We have considered these factors, the current macroeconomic environment and our leadership transition in our updated guidance for the remainder of the year."
• Co announced Rob Enslin is resigning as Chief Executive Officer and member of the UiPath Board of Directors effective June 1, 2024. Daniel Dines, Founder and former CEO of UiPath, will be re-appointed CEO, also effective June 1, 2024. Dines currently serves as Chief Innovation Officer and Executive Chairman of the Board.