UiPath Rises In Pre-market On Upbeat Quarterly Results, Outlook

(RTTNews) - Shares of UiPath Inc. (PATH) are rising more than 5 percent in pre-market on Thursday at $25.88 after reporting upbeat fourth-quarter results, above the Street expectations. The company's full-year revenue outlook also came in above the consensus estimate.

The robotic process automation software developer posted its first ever GAAP profit as a public company.

UiPath posted a profit of $33.92 million or $0.06 per share for the fourth quarter, compared with a loss of $27.69 million or $0.05 per share in the same quarter a year ago.

Excluding one-time items, earnings were $128.51 million or $0.22 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.16 per share.

Revenue for the quarter increased 31 percent year-over-year to $405.25 million. The consensus estimate was for $383.83 million.

Annual Recurring Revenue (ARR) of $1.464 billion increased 22 percent year-over-year.

For the full year, UiPath now expects revenue in the range of $1.555 billion to $1.560 billion. Analysts are looking for $1.53 billion.

UiPath shares had closed at $24.43, down 0.85 percent on Wednesday. The stock has been trading in the range of $12.38 - $27.87 in the last 52 weeks.