UiPath (PATH) Q2 2026 Earnings
How Did PATH Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +3.46%.
Did PATH Beat Earnings? Q2 2026 Results
Yes. UiPath reported Q2 2026 earnings of $0.15 a share on Sep 4, 2025, beating the $0.08 consensus estimate by 79.9%. Revenue was $361.7M against a $347.3M estimate.
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 <a href="https://247wallst.com/investing/2025/09/04/live-could-uipath-path-surge-after-releasing-earnings-results/">analysts watching closely</a> 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.
- 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
“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.”
UiPath CEO, on the earnings call
What Was UiPath's Outlook in Q2 2026?
For Q3 fiscal 2026, UiPath expects revenue of $390 million to $395 million, ARR of $1.771 billion to $1.776 billion as of October 31, 2025, and non-GAAP operating income of approximately $70 million. For full-year fiscal 2026, the company expects revenue of $1.571 billion to $1.576 billion, ARR of $1.834 billion to $1.839 billion as of January 31, 2026, and non-GAAP operating income of approximately $340 million.
PATH YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $361.7M | $316.3M | +14.4% |
| Gross Profit | $297.3M | $252.9M | +17.6% |
| Operating Income | −$20.2M | −$11.2M | +80.5% |
| Net Income | $1.6M | $784,780 | +101.8% |
PATH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.