UiPath (PATH) Q2 2026 Earnings
Reported Sep 4, 2025 at 4:13 PM ET · SEC Source
Q2 26 EPS
$0.15
BEAT +79.86%
Est. $0.08
Q2 26 Revenue
$361.7M
BEAT +4.14%
Est. $347.3M
vs S&P Since Q2 26
-20.8%
TRAILING MARKET
PATH -6.3% vs S&P +14.5%
Market Reaction
Did PATH Beat Earnings? Q2 2026 Results
UiPath delivered a standout second quarter for fiscal 2026, posting non-GAAP diluted EPS of $0.15 against a consensus estimate of $0.08, a beat of nearly 80%, while revenue of $361.73 million topped expectations by 4.14% and grew 14.4% year over year… Read more UiPath delivered a standout second quarter for fiscal 2026, posting non-GAAP diluted EPS of $0.15 against a consensus estimate of $0.08, a beat of nearly 80%, while revenue of $361.73 million topped expectations by 4.14% and grew 14.4% year over year. The results had analysts watching closely heading into the print, and UiPath largely answered the call. The clearest driver behind the outperformance was a dramatic improvement in operational efficiency, particularly in sales and marketing spending, which fell to $166.30 million from $194.33 million a year ago, helping push non-GAAP operating income to $62.29 million compared to just $6.45 million in the prior-year period. GAAP net income came in at $1.58 million, compared to a loss of $86.10 million a year ago, underscoring how meaningfully the cost structure has shifted. ARR reached $1.72 billion, up 11% year over year, and the company raised its full-year revenue outlook to a range of $1.57 billion to $1.58 billion, with Q3 guidance of $390 million to $395 million signaling continued confidence in its agentic automation momentum.
Key Takeaways
- • ARR growth of 11% year-over-year to $1.723 billion
- • Dollar-based net retention rate of 108%
- • Improved operational efficiency with non-GAAP operating margin expanding to 17% from 2%
- • Subscription services revenue growth from $194.7 million to $238.4 million year-over-year
- • Significant reduction in sales and marketing expenses
PATH YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
PATH Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered a strong second quarter with ARR growing 11% year-over-year to $1.723 billion, reflecting the team's improved execution and the growing momentum of our agentic capabilities.”
— Daniel Dines, Q2 2026 Earnings Press Release
PATH Earnings Trends
PATH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PATH EPS Trend
Earnings per share: estimate vs actual
PATH Revenue Trend
Quarterly revenue: estimate vs actual
PATH Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 MISS | $0.16 | $0.15 | -5.48% | $418.4M | +5.26% |
| Q4 26 BEAT FY | $0.25 | $0.30 | +17.74% | $481.1M | +3.51% |
| FY Full Year | — | $0.72 | — | $1.61B | — |
| Q3 26 BEAT | $0.15 | $0.16 | +9.59% | $411.1M | +4.64% |
| Q2 26 BEAT | $0.08 | $0.15 | +79.86% | $361.7M | +4.14% |