UiPath Tumbles After Weak Outlook, Russia Exposure Adds to Worries

  • Investing.com
  • Stock Market News
UiPath Tumbles After Weak Outlook, Russia Exposure Adds to Worries
Credit: © Reuters.

By Dhirendra Tripathi

Investing.com – UiPath (NYSE: PATH ) stock lost more than a fourth of its market value Thursday after the company’s current-quarter guidance disappointed.

The company’s exposure to Russia and Ukraine weighed on its outlook and added to the market’s worries.

According to UiPath, revenue in the quarter will be $225 million at most, a 21% year-on-year growth compared to the 39% jump to $290 million in its most recent quarter ended January 31.

The company closed the year with an annualized renewal run-rate or ARR of $925 million. It was 59% higher year-over-year and driven by a record net new ARR of $107 million as more customers looked to automate their processes.

UiPath offers clients an automation platform to help them scale digital business operations.

Adjusted earnings were 5 cents per share, compared with 9 cents per share in the year-ago period.

For the full year, the company expects revenue of around $1.08 billion and ARR of $1.2 billion by the end of January 2023.

In a separate release, the company said Chris Weber, a Microsoft executive with more than 25 years of enterprise software experience, is its new Chief Business Officer. Weber will guide worldwide sales, services, and other go-to-market operations, the company said.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles