UiPath posted its first earnings report since it became public

The company that was in FT1000 Top 3 of America’s fastest-growing companies in 2020 posted its first earnings figures since it hit the public market this April

UiPath became a publicly traded company this April, and yesterday after the market closed, it reported revenue figures that topped consensus. For the fiscal first quarter 2022, the company revealed that its revenue grew 65% to $186.2 million from a year earlier and ahead of the $168.6 million expected. Under the Generally Accepted Accounting Principles (GAAP), UiPath had a loss-per-share of $1.11.

The company also announced that its number of customers topped 8,500, with 1,105 generating more than $100K and 104 over $1 million in revenues per year.

For the fiscal second quarter of 2022, UiPath projects a revenue as high as $185 million, a possible 33% increase from a year earlier. The strong demand for its products would drive the surge.

UiPath closed yesterday’s trading session at $76 per share.

Find out more about the company’s IPO here!

Sources: marketwatch.com, seekingalpha.com