UiPath Reports Q1 Beat But Stock Plummets 10% on Weak Guidance

UiPath Inc. (NYSE:PATH) shares plunged more than 10% intra-day today after the company reported its Q1 earnings. While EPS of $0.11 and revenue of $289.6 million came in better than the Street estimates of $0.02 and $271.86 million, respectively, guidance was disappointing.

ARR was in-line with expectations of 28% growth and didn't see the same level of outperformance as in prior quarters.

For Q2/24, the company expects revenue to be in the range of $279-$284 million, compared to the Street estimate of $284.3 million. For the full year, the company expects revenue in the range of $1.267-$1.272 billion, compared to the Street estimate of $1.254 billion.