UiPath (NYSE:PATH) Q3 2026 Earnings Call December 03, 2025 05:00 PM ET Company ParticipantsAllise Furlani - VP of Investor RelationsDaniel Dines - CEOArsenije Matovic - VP of Equity ResearchAshim Gupta - Chief Operating and Financial OfficerAustin Williams - VP of Software Equity ResearchKingsley Crane - Software Managing Director of Equity ResearchDominique Manansala - Equity Research AssociateMike Richards - Equity Research Senior AssociateBryan Bergin - Managing Director of Equity ResearchConference Call ...

Financial Performance - UiPath's revenue for the three months ended October 31, 2025, reached $411 million, representing an 16% year-over-year growth rate[11, 14] - The Annualized Renewal Run-rate (ARR) as of October 31, 2025, was $1782 billion, reflecting an 11% year-over-year growth rate[12, 14] - Non-GAAP operating income for the same period was $88 million, resulting in a Non-GAAP operating margin of 21%[13, 14] - UiPath has 2506 customers with >= $100k ARR and 333 customers with >= $1 million ARR as of 3Q 2026[60] - UiPath's dollar-based net retention rate was 107%[57] Financial Metrics (GAAP) - GAAP revenue was $4111 million in 3Q 2026, compared to $3547 million in 3Q 2025[62] - GAAP gross margin was 83% in 3Q 2026, compared to 82% in 3Q 2025[62] - GAAP operating income was $131 million in 3Q 2026, compared to a loss of $(434) million in 3Q 2025[62] Financial Metrics (Non-GAAP) - Non-GAAP gross margin was 85% in both 3Q 2026 and 3Q 2025[64] - Non-GAAP operating income increased to $878 million in 3Q 2026 from $497 million in 3Q 2025[64] - Non-GAAP adjusted free cash flow was $279 million in 3Q 2026, compared to $331 million in 3Q 2025[64] Guidance - UiPath projects revenue between $462 million and $467 million for 4Q 2026[65] - The company anticipates ARR to be between $1844 billion and $1849 billion for 4Q 2026[65] - Non-GAAP operating income is expected to be approximately $140 million for 4Q 2026[65]

Financial Performance - Revenue for 2Q 2026 reached $3617 million, representing a 14% year-over-year growth rate[10, 13, 42] - ARR reached $1723 billion, with an 11% year-over-year growth rate[11, 13] - Non-GAAP operating income was $623 million, resulting in a 17% non-GAAP operating margin[12, 13] - GAAP gross margin was 82% in 2Q 2026, compared to 80% in 2Q 2025[42] - Non-GAAP gross margin was 84% in 2Q 2026, compared to 83% in 2Q 2025[43] Customer Growth - The number of customers with ≥ $100k ARR increased to 2432 in 2Q 2026 from 2163 in 2Q 2025[40] - The number of customers with ≥ $1 million ARR increased to 320 in 2Q 2026 from 293 in 2Q 2025[40] - Dollar-based net retention rate was 108%[38] Future Outlook - The company projects revenue between $390 million and $395 million for 3Q 2026[45] - The company projects ARR between $1771 billion and $1776 billion for 3Q 2026[45] - The company projects revenue between $1571 billion and $1576 billion for FY 2026[45] - The company projects ARR between $1834 billion and $1839 billion for FY 2026[45]