UiPath reported its first-quarter earnings per share of $0.13, which was slightly higher than the analyst projection of $0.12.
Looking ahead, UiPath provided guidance for its second-quarter revenue, projecting between $300 million and $305 million. This forecast falls short of the market consensus, which had estimated a higher revenue of $342.4 million. Moreover, investors were hit with the surprising news of Rob Enslin resigning as CEO and member of the board effective June 1st. Daniel Dines, founder, former CEO, and current Chief Innovation Officer, will return to the role of CEO."While our revenue and operating margin guidance are impacted by contract timing and duration, we have confidence in our ability to generate durable ARR growth at scale, and meaningful non-GAAP adjusted free cash flow," the company's officials said.
Commenting on Wednesday's developments, RBC Capital Markets analysts said results were 'messy' while the CEO transition is 'surprising.'Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.