All articles tagged with #automation software
UiPath shares plummeted over 30% after announcing CEO Rob Enslin's resignation, effective June 1, to be replaced by co-founder Daniel Dines. Despite reporting better-than-expected fiscal first-quarter earnings, the company lowered its full-year revenue guidance, citing elongated sales cycles and increased deal scrutiny. The stock has struggled since its 2021 IPO, now down nearly 76% from its debut price.
UiPath reported Q1 CY2024 revenue of $335.1 million, slightly beating analyst expectations, and a non-GAAP profit of $0.13 per share. However, the company's stock dropped 29.9% due to disappointing revenue guidance for the next quarter and the full year, as well as the unexpected resignation of CEO Rob Enslin.
UiPath's stock is on the rise as the automation software company surpasses revenue growth expectations. While UiPath still needs to convince analysts about the potential of artificial intelligence, its strong financial performance has temporarily overshadowed the AI debate.