UiPath(PATH) - 2025 Q1 - Quarterly Results

Revenue and ARR Growth - Revenue of $335 million increased 16% year-over-year[1][6] - ARR of $1.508 billion increased 21% year-over-year[1][6] - Net new ARR of $44 million[6] - Total revenue for Q1 2024 increased to $335.1 million, up 15.7% from $289.6 million in Q1 2023[27] - Subscription services revenue grew to $185.1 million, a 26.5% increase from $146.4 million in Q1 2023[27] - Q2 FY2025 revenue guidance of $300 million to $305 million[7] - Full-year FY2025 ARR guidance of $1.660 billion to $1.665 billion[7] Profitability and Margins - Non-GAAP adjusted free cash flow reached $101 million[1][6] - GAAP gross margin was 83% in Q1 2024, compared to 85% in Q1 2023[34] - Non-GAAP gross margin improved to 86% in Q1 2024, up from 85% in Q1 2023[34] - GAAP operating loss narrowed to $49.5 million in Q1 2024 from $46.4 million in Q1 2023[36] - Non-GAAP operating income increased to $50.4 million in Q1 2024, up from $48.2 million in Q1 2023[36] - Non-GAAP operating income guidance of approximately $145 million for FY2025[7] - GAAP net loss for Q1 2024 was $(28.7) million, compared to $(31.9) million in Q1 2023, showing a reduction in losses[39] - Non-GAAP net income for Q1 2024 was $73.2 million, up from $63.8 million in Q1 2023, reflecting a 14.8% increase[39] - Non-GAAP net income per share, diluted, remained stable at $0.13 in both Q1 2024 and Q1 2023[39] Cash Flow and Liquidity - Cash, cash equivalents, and marketable securities totaled $1.9 billion as of April 30, 2024[6] - Cash and cash equivalents grew to $1.15 billion as of April 30, 2024, up from $1.06 billion as of January 31, 2024[29] - Net cash provided by operating activities was $100.0 million in Q1 2024, compared to $67.3 million in Q1 2023[31] - GAAP net cash provided by operating activities in Q1 2024 was $100.0 million, a 48.6% increase from $67.3 million in Q1 2023[42] - Non-GAAP adjusted free cash flow for Q1 2024 was $101.3 million, up 39.3% from $72.7 million in Q1 2023[42] - Purchases of property and equipment decreased to $1.2 million in Q1 2024 from $1.9 million in Q1 2023[42] - Cash paid for employer payroll taxes related to employee equity transactions was $2.4 million in Q1 2024, down from $2.7 million in Q1 2023[42] - Restructuring costs in Q1 2024 were $63 thousand, significantly lower than $3.7 million in Q1 2023[42] Customer and Product Metrics - Dollar-based net retention rate of 118%[6] - Over 1,500 organizations using UiPath Autopilot™, generating over 7,000 workflows and 5,500 expressions per week[9] Stock-Based Compensation and Share Metrics - Stock-based compensation expense totaled $88.7 million in Q1 2024, up from $85.0 million in Q1 2023[36] - Weighted-average shares used in computing net loss per share increased to 569,925 in Q1 2024 from 557,878 in Q1 2023[27] - Stock-based compensation expense increased to $88.7 million in Q1 2024 from $85.0 million in Q1 2023[39] - Charitable donation of Class A common stock increased to $6.6 million in Q1 2024 from $4.2 million in Q1 2023[39]