UiPath (PATH) investor relations material

Executive summary

• Q2 FY27 revenue reached $410 million, up 13% year-over-year, with ARR at $1.938 billion, up 12% year-over-year, both exceeding guidance.

• Achieved fourth consecutive quarter of GAAP profitability, with GAAP operating income at $32 million and non-GAAP operating income at $89 million (22% margin).

• Leadership transition: Hitesh Ramani appointed CFO, Ashim Gupta focusing as COO, and Yazdi Bagli joined the board.

• Customers increasingly consolidating automation and AI workloads, with 18 of top 20 deals including AI and new AI-native products Maestro Case and Maestro Flow launched.

• Customer base expanded, with 2,666 customers over $100K ARR and 387 over $1M ARR.

Financial highlights

• Q2 revenue: $410 million, up 13% year-over-year (16% growth normalized for FX); ARR: $1.938 billion, up 12%; net new ARR $37 million.

• Cloud ARR exceeded $1.3 billion, up over 19% year-over-year.

• Gross margin: 82% non-GAAP, 80% GAAP; software gross margin at 90%.

• Non-GAAP adjusted free cash flow: $31 million, down from $45 million prior year due to tax payment timing.

• Ended quarter with $1.4 billion in cash and no debt; repurchased 2.4 million shares at $9.63 average price.

Outlook and guidance

• Q3 FY27 revenue expected between $440–$445 million; ARR $1.992–$1.997 billion; non-GAAP operating income ~$100 million.

• FY27 revenue guidance: $1.789–$1.794 billion; ARR $2.065–$2.070 billion; non-GAAP operating income ~$445 million.

• FY27 non-GAAP adjusted free cash flow expected at ~$425 million; non-GAAP gross margin ~84%.

• Guidance incorporates FX headwinds, especially from JPY, RON, INR, and EUR.