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Dec. 9, 2021, 7:46 a.m. EST

UiPath stock drops even as results top Street expectations

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By Wallace Witkowski

UiPath Inc. shares fell in the extended session Wednesday even as the “software robots” provider’s quarterly results topped Wall Street expectations.

UiPath  /zigman2/quotes/226284328/composite PATH +0.06% 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 .

The company reported a third-quarter loss of $122.8 million, or 23 cents a share, compared with a loss of $70.8 million, or 41 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were break-even a share, compared with a loss of 4 cents a share in the year-ago period.

Revenue rose to $220.8 million from $147.3 million in the year-ago quarter. The company’s annualized renewal run rate, or ARR, rose 58% to $818.4 million from a year ago. ARR is a metric often used by software-as-a-service companies to show how much revenue the company can expect based on subscriptions.

Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $208.3 million and an ARR of $797.9 million, based on UiPath’s forecast revenue of $207 million to $209 million and ARR of $796 million to $798 million for the third quarter.

Read:  UiPath IPO: 5 things to know about the ‘software robots’ company valued at nearly $30 billion

UiPath forecast revenue of $281 million to $283 million and ARR of $901 million to $903 million for the fourth quarter, while analysts expect revenue of $281.5 million and ARR of $880.3 million.

/zigman2/quotes/226284328/composite
US : U.S.: NYSE
$ 35.28
+0.02 +0.06%
Volume: 4.17M
Jan. 20, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.52 billion
Rev. per Employee
N/A
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