Companies /Technology

UiPath Inc - Class A

NYSE: PATH Software - Infrastructure
$18.14
▼ $0.53 (−2.84%) today
Markets closed · 9:07am ET

Q2 2026 Earnings

Reported Sep 4, 2025, 4:13pm ET · SEC source
$0.15
Beat +79.86%
EPS · est. $0.08
$361.7M
Beat +4.14%
Revenue · est. $347.3M
+30.4%
Beating market
PATH vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
0+3%+6%+9%Sep 4Sep 5report 4:13pm ETearnings−0.5%+7.4%
0+3%+6%+9%Sep 4Sep 5earnings−0.5%+7.4%
PATH +7.4%S&P 500 −0.5%
0+3%+6%+9%Sep 4Sep 5report 4:13pm ETearnings−0.2%+7.4%
0+3%+6%+9%Sep 4Sep 5earnings−0.2%+7.4%
PATH +7.4%NASDAQ −0.2%
−4%0+4%Sep 3Sep 12report 4:13pm ETearnings+1.3%+2.2%
−4%0+4%Sep 3Sep 12earnings+1.3%+2.2%
PATH +2.2%S&P 500 +1.3%
−4%0+4%Sep 3Sep 12report 4:13pm ETearnings+1.9%+2.2%
−4%0+4%Sep 3Sep 12earnings+1.9%+2.2%
PATH +2.2%NASDAQ +1.9%
−0.28%
Day of report
+5.90%
Next session
+7.74%
One week
+33.82%
30 days

S&P 500 over the same 30 days: +3.46%.

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. 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.

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

“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

Forward Guidance & Outlook

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

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$200.0M$316.3M$361.7MRevenue$252.9M$297.3MGross Profit$-11,184,684$-20,185,000Operating Income$784,780$1.6MNet Income
$0$200.0MRevenueGross ProfitOperating IncomeNet Income

PATH Revenue by Segment

Subscription Services$238.4M
Licenses$112.2M
Professional Services and Other$11.2M

Figures from SEC filings and company reports. Not investment advice.