PATH earnings analysis
What we found in PATH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
UiPath delivered a positive quarter, with $410.256 million of revenue and $0.15 of diluted EPS beating consensus by 3.1% and 15.4%, respectively. GAAP operating income was $31.604 million, while liquidity totaled $1.405 billion across cash and marketable securities. The outlook was raised for Q3 revenue to $440 million-$445 million, although foreign-exchange exposure remains material, with a hypothetical 10% currency move representing a $39.8 million estimated translation impact.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue beat consensus
- Revenue was $410.256 million, exceeding the $397.795 million consensus estimate by $12.461 million, or 3.1%.
- EPS beat consensus
- Diluted EPS was $0.15 versus the $0.13 consensus estimate, a $0.02 beat, or 15.4%.
- GAAP profitability improved
- GAAP operating income improved to $31.604 million, equivalent to an operating margin of approximately 7.7% on $410.256 million of revenue.
- Strong liquidity position
- Liquidity remained substantial, with $607.4 million of cash and cash equivalents plus $797.6 million of marketable securities as of July 31, 2026.
- Controls remained effective
- Management concluded that disclosure controls and procedures were effective at a reasonable assurance level as of July 31, 2026, and identified no material control changes during the quarter.
- Repurchase authorization remains
- The company retained $413.645 million of authorization under its current $500.0 million repurchase program after purchasing 2.424 million shares at an average price of $9.61 in May.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Meaningful foreign-exchange exposure
- The filing states that approximately 52% of revenue and 44% of expenses were denominated in non-U.S. dollar currencies. A hypothetical 10% change in foreign-exchange rates would have had an estimated $39.8 million translation impact, and the company had no foreign-currency forward contracts during the six months ended July 31, 2026.
- Interest-rate and investment risk
- Cash and marketable securities totaled $1.405 billion, including $797.6 million of interest-bearing securities. Although a hypothetical 10% change in interest rates was not material for the six months ended July 31, 2026, investment income and liquidity could still be affected by market-rate changes.
- Insider selling overhang
- The company disclosed a Rule 10b5-1 plan for its CEO-controlled entity, IceVulcan Investments Limited, to sell up to 5.000 million Class A shares through February 1, 2027, potentially increasing share-sale overhang.
- No material risk-factor updates
- The 10-Q states there were no material changes to the risk factors previously disclosed in the 2026 Form 10-K. Accordingly, the filing does not identify a new risk-factor change, although it reiterates that control systems provide only reasonable—not absolute—assurance against errors or fraud.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.15
- Operating margin
- 7.7%
What they said about what is next.
The provided 10-Q excerpt does not contain new numeric guidance. The accompanying earnings disclosure raised Q3 fiscal 2027 revenue guidance to $440 million-$445 million from $395 million-$400 million, with Q3 ARR guidance of $1.992 billion-$1.997 billion and approximate non-GAAP operating income of $100 million. Full-year revenue guidance was $1.789 billion-$1.794 billion and approximate non-GAAP operating income was $445 million.
The filing reads better than the one before it.
What came before.
- 10-Q · June 4, 2026
- UiPath reported strong Q1 results for fiscal 2027, with revenue of $418.4 million, a 17% increase year-over-year, significantly surpassing estimates of $397 million. EPS also beat expectations at $0.15 versus an…
- 10-K · March 25, 2026
- UiPath’s 10-K reiterates a strategic pivot from rule-based RPA to "agentic" AI-driven automation and positions the UiPath Platform™ (including Automation Cloud™ and UiPath Maestro™) as an enterprise orchestration and…
- 10-Q · December 8, 2025
- UiPath reported strong Q3 results with revenue of $411,113,000 (three months ended October 31, 2025), up $56,460,000 (+15.9%) versus $354,653,000 a year ago, and GAAP diluted EPS of $0.37 versus $(0.02) a year ago.…
- 10-Q · September 8, 2025
- UiPath reported quarterly revenue of $361.7M, up from $316.3M a year ago, with gross profit of $297.3M (82.2% margin) and a GAAP net income of $1.6M (diluted EPS $0.00). Operating loss narrowed materially to $(20.2)M…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing PATH makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever