UiPath delivers Q2 beat, boosts stock buyback program by $500M

Investing.comSep 5, 2024 9:16 PM

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Investing.com -- UiPath reported Thursday second-quarter results that topped Wall Street estimates and the software maker upsized its share buyback program by $500 million.

UiPath Inc (NYSE:PATH) was up more than 9% following the report.

UiPath reported adjusted earnings per share of $0.04 on revenue of $316 million. Analysts polled by Investing.com anticipated EPS of $0.03 on revenue of $303.7M.

Annual recurring revenue, or ARR, rose 18% to $1.55B in Q2 from a year earlier.

For Q3, the company forecast revenue in the range of $345M to $350M, in-line with estimates of $347.31.

Looking further ahead, the company forecast full-year 2025 revenue in the range of $1.42B to $1.43B.

The company also announced that Chief Financial Officer Ashim Gupta would be taking on an expanded role as chief operating officer starting Sept. 5.

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