UiPath reports Q2 EPS 4c, consensus 3c

Reports Q2 revenue $316.3M, consensus $303.7M. Reports Q2: ARR of $1.551B, up 19% y/y; Net new ARR of $43 million; Dollar based net retention rate of 115%. “We are pleased with our second quarter results, with ARR growing 19 percent year-over-year, a testament to the team’s improved execution and the compelling value that our AI-powered automation platform delivers to our customers,” said Daniel Dines, UiPath Founder and Chief Executive Officer. “Our conversations with customers and partners deepen our conviction that there is an increasing need for AI and automation, and our unwavering commitment to innovation continues to position us as the automation platform of choice for capturing the opportunities that AI brings to an enterprise. As we look to the remainder of the year, we will continue to focus on product innovation, customer-centricity, and driving operational efficiencies across the business.”