Group 1 - UiPath's share price has shown a bounce after reporting solid first quarter earnings, with revenue growth being stronger due to easier comparables [1] - Narweena, an asset manager led by Richard Durant, focuses on identifying market dislocations resulting from a poor understanding of long-term business prospects [1] - The firm believes excess risk-adjusted returns can be achieved by targeting businesses with secular growth opportunities in markets with barriers to entry [1] Group 2 - Narweena's research process emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon [1] - The aging population, low population growth, and stagnating productivity growth are expected to create a different set of investment opportunities compared to the past [1] - Many industries may face stagnation or secular decline, which could paradoxically improve business performance due to decreased competition [1] Group 3 - The economy is increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia [1] - Richard Durant holds undergraduate degrees in engineering and finance and an MBA, and has passed the CFA exams, indicating a strong educational background [1]

Further information on risks that could cause actual results to differ materially from our guidance and other forward-looking statements can be found in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025 filed with the United States Securities and Exchange Commission (SEC), in our Quarterly Reports on Form 10-Q filed with the SEC, and in other filings and reports that we may file from time to time with the SEC. Any forward-looking statements contained in this presentation are based on ...

Core Insights - UiPath reported revenue of $356.62 million for the quarter ended April 2025, marking a year-over-year increase of 6.4% and exceeding the Zacks Consensus Estimate of $332.33 million by 7.31% [1] - The company's EPS for the same period was $0.11, down from $0.13 a year ago, but it surpassed the consensus EPS estimate of $0.10 by 10% [1] Financial Performance Metrics - Annual Recurring Revenue (ARR) was reported at $1.69 billion, matching the average estimate from three analysts [4] - Net New ARR was $27 million, exceeding the average estimate of $22.09 million from three analysts [4] - The dollar-based net retention rate was 108%, slightly below the average estimate of 109.6% from two analysts [4] - Revenue from licenses was $128.29 million, which is lower than the year-over-year figure by 8.5% and above the average estimate of $115.46 million from four analysts [4] - Revenue from professional services and other was $11.04 million, surpassing the average estimate of $9.68 million from four analysts [4] - Subscription services revenue reached $217.30 million, exceeding the average estimate of $207.27 million from four analysts [4] Stock Performance - UiPath shares have returned +8.4% over the past month, outperforming the Zacks S&P 500 composite's +6.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1: Earnings Performance - UiPath reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.10 per share, but down from $0.13 per share a year ago, representing an earnings surprise of 10% [1] - The company posted revenues of $356.62 million for the quarter ended April 2025, surpassing the Zacks Consensus Estimate by 7.31%, compared to $335.11 million in the same quarter last year [2] - Over the last four quarters, UiPath has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - UiPath shares have increased approximately 1.8% since the beginning of the year, outperforming the S&P 500's gain of 0.1% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [4] - The current consensus EPS estimate for the coming quarter is $0.07 on revenues of $332.2 million, and for the current fiscal year, it is $0.52 on revenues of $1.53 billion [7] Group 3: Industry Context - The Internet - Software industry, to which UiPath belongs, is currently ranked in the top 24% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $357 million, representing a 6% year-over-year increase, and an annual recurring revenue (ARR) of $1.693 billion, up 12% year-over-year [7][32] - The GAAP operating loss improved to $16 million from a loss of $49 million in the prior year, while non-GAAP operating income was $70 million, reflecting a 20% margin, an improvement of 450 basis points year-over-year [8][34] - Non-GAAP adjusted free cash flow generation was $117 million, representing a 33% margin, up over 250 basis points year-over-year [34] Business Line Data and Key Metrics Changes - The company emphasized the success of its agentic automation platform, which has seen strong adoption with thousands of autonomous agents created and over 250,000 agent runs to date [11] - The introduction of Maestro, the orchestration solution, has powered more than 11,000 process instances, indicating strong early demand [11] Market Data and Key Metrics Changes - The company ended the quarter with approximately 10,750 customers, with a notable increase in customers generating $100,000 or more in ARR to 2,365, and those with $1 million or more in ARR to 316 [32][33] - Dollar-based gross retention was reported at 97%, while the dollar-based net retention rate was 108% as of the first quarter [33] Company Strategy and Development Direction - The company is focused on expanding its agentic automation solutions and has introduced a new consumption-based pricing model to drive adoption [11][12] - A strategic AI partnership with Google Cloud aims to transform healthcare operations through an AI-powered medical record summarization agent [19] - The company is committed to developing targeted vertical solutions and enhancing its partner ecosystem to drive customer value [21][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the variable macroeconomic environment but expressed confidence in the company's execution and the favorable shift in deal mix for the second quarter [41][70] - The company views fiscal 2026 as a foundational year for driving new revenue streams in fiscal 2027 and beyond as agentic automation scales [36] Other Important Information - The company repurchased 21.9 million shares of its Class A common stock at an average price of $10.4, reflecting its commitment to delivering value to shareholders [34] - The company has made significant progress in its public sector business, highlighted by a deal with the U.S. Air Force to accelerate digital transformation [25] Q&A Session Summary Question: Insights on the macroeconomic environment and FX impact - Management noted that the macroeconomic environment remains variable, but execution in the first quarter was strong, with minimal FX impact observed [40][42] Question: Customer feedback on the new pricing model - Initial customer feedback on the unified pricing model has been positive, as it aligns closely with software adoption [45] Question: Performance of the U.S. Federal business - The U.S. Federal business is in transition, with renewals on track, but continued pressure on new budgets is noted [48][50] Question: Quality and depth of the pipeline - Management expressed confidence in the quality of the pipeline, bolstered by customer interest in agentic automation [53][54] Question: Trends in retention rates - Management indicated that retention pressures are related to macroeconomic factors, but they are optimistic about stabilizing trends moving forward [66][67] Question: Growth outlook and deal mix - The favorable timing and mix of deals for the second quarter were highlighted, with larger deals contributing positively to revenue recognition [69][70] Question: Operational adjustments and efficiencies - Management confirmed that while the restructuring is complete, they continue to seek efficiencies and invest in high-return segments [101]

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $357 million, representing a 6% year-over-year increase, and an ARR of $1.693 billion, up 12% year-over-year [6][31] - GAAP operating loss improved to $16 million from a loss of $49 million in the prior year, while non-GAAP operating income was $70 million, reflecting a 20% margin, an improvement of 450 basis points year-over-year [7][33] - Non-GAAP adjusted free cash flow generation was $117 million, representing a 33% margin, up over 250 basis points year-over-year [33] Business Line Data and Key Metrics Changes - The launch of the agentic automation platform has driven significant customer engagement, with over 15,000 participants registered for the launch events [9] - Adoption of AgentBuilder has accelerated, with customers creating thousands of autonomous agents and generating over 250,000 agent runs to date [11] - Maestro, the orchestration solution, powered more than 11,000 process instances, indicating strong early demand [11] Market Data and Key Metrics Changes - The company ended the quarter with approximately 10,750 customers, with those generating $100,000 or more in ARR increasing to 2,365, and those with $1 million or more in ARR rising to 316 [31][32] - Dollar-based gross retention was 97%, and dollar-based net retention rate was 108% as of the first quarter [32] Company Strategy and Development Direction - The company is focused on expanding its agentic automation capabilities, which are seen as a key differentiator in the market [10][19] - A strategic partnership with Google Cloud aims to transform healthcare operations through AI-powered solutions, indicating a commitment to vertical solutions [19][84] - The company is also enhancing its partner ecosystem to drive adoption and accelerate its strategy in the market [27][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a variable macroeconomic environment but expressed confidence in execution and revenue guidance for the second quarter [39][34] - The company views fiscal 2026 as a foundational year for driving new revenue streams in fiscal 2027 and beyond as agentic automation scales [34] - Management remains prudent in guidance, recognizing ongoing uncertainties in the market [39][34] Other Important Information - The company repurchased 21.9 million shares of Class A common stock at an average price of $10.4, reflecting a commitment to delivering value to shareholders [33] - The company introduced a new consumption-based pricing model to drive adoption of its agentic automation solutions [12][41] Q&A Session Summary Question: What is the current macroeconomic environment and its impact on guidance? - Management noted that while the macroeconomic environment remains variable, execution in the first quarter was strong, leading to an adjustment in revenue guidance [39][40] Question: How has customer feedback been regarding the new pricing model? - Initial reactions to the new pricing model have been positive, as it is tied closer to software adoption [41] Question: How did the U.S. Federal business perform? - The U.S. Federal business is in transition, with renewals progressing well, but there is still pressure on new budgets [46][48] Question: What is the outlook for net retention rate? - Management expects stabilization and potential improvement in net retention rate as new solutions are launched [87] Question: What drove the license outperformance in the quarter? - The outperformance was attributed to a favorable mix of deals rather than any unusual contributions [91] Question: What is the strategy for the partner program moving forward? - The partner program is crucial for driving customer engagement and adoption, particularly among mid-tier customers [80]

Financial Performance - Revenue for Q1 fiscal 2026 was $357 million, representing a 6% increase year-over-year[5] - Annualized Renewal Run-rate (ARR) reached $1.693 billion, up 12% year-over-year, with net new ARR of $27 million[5][2] - Total revenue for the three months ended April 30, 2025, was $356.624 million, a 6.4% increase from $335.112 million in the same period of 2024[25] - Subscription services revenue increased to $217.303 million, up 17.4% from $185.131 million year-over-year[25] - Net loss for the quarter was $(22.555) million, or $(0.04) per share, compared to a net loss of $(28.736) million, or $(0.05) per share, in the prior year[25] - GAAP net loss for the three months ended April 30, 2025, was $22,555,000, an improvement from a loss of $28,736,000 in the same period of 2024[37] - Non-GAAP net income for the same period was $60,174,000, compared to $73,218,000 in 2024, reflecting a decrease of approximately 17.8%[37] Cash Flow and Margins - Non-GAAP adjusted free cash flow was $117 million, while cash flow from operations was $119 million[5] - GAAP gross margin stood at 82%, and non-GAAP gross margin was 84%[5] - Non-GAAP operating income for the quarter was $69.616 million, with a non-GAAP operating margin of 20%, up from 15% in the previous year[34] - GAAP net cash provided by operating activities increased to $119,002,000 in Q1 2025 from $100,037,000 in Q1 2024, representing a growth of 18.9%[40] - Non-GAAP adjusted free cash flow for the three months ended April 30, 2025, was $117,067,000, up from $101,277,000 in 2024, indicating an increase of 15.6%[40] Stock and Shareholder Actions - The company repurchased $227.525 million of Class A common stock during the quarter[29] - The weighted average common shares outstanding, basic and diluted, decreased to 548,451 in Q1 2025 from 569,925 in Q1 2024[37] - Stock-based compensation expense decreased to $76,361,000 in Q1 2025 from $88,727,000 in Q1 2024, a reduction of approximately 13.9%[37] - The company reported a charitable donation of Class A common stock valued at $4,187,000 in Q1 2025, down from $6,564,000 in Q1 2024[37] Future Projections - For Q2 fiscal 2026, revenue is expected to be in the range of $345 million to $350 million, with ARR projected between $1.715 billion and $1.720 billion[6] Product Development and Partnerships - The company launched its next-generation UiPath Platform for agentic automation, enhancing its product offerings[8] - UiPath Test Cloud was introduced to improve software testing efficiency using advanced AI[8] - The company announced a partnership with Google Cloud to develop a generative AI-based Medical Record Summarization agent[9] Market Recognition - UiPath achieved a dollar-based net retention rate of 108%[5] - The company was recognized as a Leader in the IDC MarketScape for Worldwide Business Automation Platforms 2025[8] Assets and Liabilities - Cash and cash equivalents decreased to $700.641 million from $879.196 million at the beginning of the year[27] - Total current assets decreased to $2.110 billion from $2.339 billion at the end of January 2025[27] - Total liabilities decreased to $945.981 million from $1.020 billion at the end of January 2025[27] Operating Loss - Operating loss improved to $(16.412) million compared to $(49.465) million in the same quarter of 2024[34] Restructuring Costs - The company incurred restructuring costs of $3,011,000 in Q1 2025, while there were no such costs reported in Q1 2024[37]

UiPath Inc. (PATH) is set to report first-quarter fiscal 2026 results on May 29, after the bell.The Zacks Consensus Estimate for earnings is pegged at 10 cents, indicating a 23% decline from the year-ago reported number. The consensus estimate for revenues is pinned at $332.3 million, implying a 0.8% year-over-year decline.One estimate for the fiscal first quarter has been revised downward in the past 60 days.Image Source: Zacks Investment ResearchThe company has an impressive earnings surprise history. Ear ...

Market Overview - The U.S. equity market has faced high volatility in 2025 due to aggressive tariff policies, ongoing trade wars, rising interest rates, and changing investor behaviors, but this has also created opportunities for acquiring reasonably priced, high-quality stocks [1] Palantir Technologies - Palantir Technologies' data mining and analytics platform helps organizations manage vast amounts of data to generate actionable insights [4] - In the first quarter, Palantir's revenue rose 39% year over year to $884 million, with U.S. revenue growing 55% year over year, now accounting for nearly 71% of total business [5] - The U.S. commercial business has crossed a $1 billion annual revenue run rate in the first quarter [5] - Palantir's Artificial Intelligence Platform (AIP) positions the company as a provider of a major ontology and AI-powered operating system for enterprises and government agencies [6] - Unlike other AI companies, Palantir focuses on AI implementations, translating large language model capabilities into business outcomes, enabling clients to build autonomous AI agents [7] - Strong customer adoption is evident, with Walgreens Boots Alliance automating 384 billion daily decisions across 4,000 stores in eight months, and American International Group expecting its five-year CAGR to double after adopting Palantir's technology [8] - Despite a high valuation of 208 times forward earnings, Palantir's implementation-focused AI strategy and strong customer demand present a long-term investment opportunity [9] SoundHound AI - SoundHound AI's revenue surged 151% year over year to $29.1 million, with no single customer accounting for more than 10% of total revenue, indicating a well-diversified business [10] - The company has established a competitive moat with its proprietary Polaris foundation model, supporting 30 languages and significantly improving performance metrics [11] - Strategic acquisitions have expanded SoundHound's reach to nearly 13,000 restaurants and opened new cross-selling opportunities [12] - The introduction of a voice commerce ecosystem integrating conversational AI in vehicles has generated significant interest from automakers, potentially becoming a substantial revenue stream [12] - SoundHound's stock is down nearly 60% from its all-time high, presenting a potential buying opportunity [13] UiPath - UiPath's shares are down nearly 86% from their all-time high in May 2021, despite strong fundamentals [14] - The company's recent earnings were slightly below analyst estimates due to timing issues in government business deal closures [14] - UiPath's pivot toward agentic AI could serve as a long-term catalyst, with strong adoption trends for its agentic AI products [15] - The company has robust customer metrics, including a dollar-based gross retention rate of 98% and a dollar-based net retention rate of 110% in the fourth quarter [17] - High-value customers spending over $1 million in annual recurring revenue increased by 10% year over year, while those spending $5 million or more increased by 30% [17] - UiPath maintains a strong balance sheet with $1.7 billion in cash and zero debt, and trades at only 4.6 times sales, significantly lower than its three-year average of 6.9 times, making it a worthwhile investment despite recent growth slowdowns [18]

Core Viewpoint - Newpath Resources Inc. has optioned the Pat Ann claim group, expanding its exploration potential in Ontario, with a focus on lithium-bearing pegmatites and base metal mineralization [1][2]. Company Overview - Newpath Resources Inc. is a Canadian exploration company listed on the Canadian Securities Exchange under the symbol PATH, holding a 100% interest in the Alpha/Bravo critical metal exploration project [12]. Exploration Details - The Pat Ann claim group covers approximately 1,150 hectares and is contiguous to Newpath's Alpha-Bravo Property, creating a combined area of 13,100 hectares for exploration [1]. - The geological setting of Pat Ann shows potential for LCT pegmatites and copper-zinc mineralization, with mineralization traced over a minimum of 1.3 km [2][3]. - Historical exploration has indicated the presence of copper and zinc, with notable drill results including 0.82% Cu and 0.6% Zn over 0.76 m [5]. Financial Commitments - To exercise the option on Pat Ann, Newpath must incur total expenditures of $550,000, make cash payments totaling $532,000, and issue 500,000 common shares to the optionors [4]. - The payment schedule includes an initial cash payment of $8,000 already made, with further payments and expenditures required over the next three years [4]. Indigenous Relations - Newpath is committed to building transparent relationships with Indigenous communities, acknowledging the traditional territories where the Alpha/Bravo project is located [11].