Portfolio Update +129%. ALL TIME HIGHS

Core Insights - The portfolio has shown strong performance, increasing by 129% since August 29, 2022, compared to a 106% return of the QQQ, with a compound annual growth rate (CAGR) of 29% [4] Company Performance - Analysts expect UiPath's Q3 2026 revenue to be around $392–$393 million and earnings per share (EPS) to be approximately $0.14–$0.15 (adjusted) [8] - The Annualized Renewal Run-Rate (ARR) is projected to reach roughly $1.77 billion, which is a critical metric for subscription software companies [9] Business Strategy - UiPath is transitioning from "Robotic Process Automation" to "Agentic Automation," focusing on AI agents capable of autonomous actions [10] - Management needs to demonstrate customer adoption of new AI products, with specific customer wins or partnerships being crucial for validation [10] Risks and Challenges - The company faces shareholder class-action lawsuits alleging management overstated the success of their AI strategy, adding uncertainty [11] - Consistent insider selling by CEO Daniel Dines may negatively impact investor sentiment [12] Financial Health - UiPath maintains a strong balance sheet with significant cash reserves and no debt, alongside a healthy net retention rate of approximately 108% [13]