202107 Sep

UiPath fiscal Q2 results top expectations, raises recurring revenue view

Summary

UiPath, the robotic process automation startup that came public April 21st, this afternoon reported fiscal Q2 revenue that topped Wall Streets expectations, and a surprise profit per share were analysts expected a loss, and raised its forecast for its recurring revenue this fiscal year. CEO and co-founder Daniel Dines remarked that the company "continued our very strong momentum in the second quarter of fiscal year 2022." "The opportunity to unlock human potential is vast and we are in the very early stages of the automation market. Added Gupta, "Our land and expand go-to-market model delivered record net new ARR, a testament to our competitive differentiation and the power of our platform to drive meaningful return on investment for our customers. "Looking ahead, our priority is to continue to drive growth while exercising operational rigor, which will allow us to maintain our clear leadership position in this large and growing market."

Source: Zdnet

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