Automation software company UiPath (NYSE:PATH) will be announcing earnings results tomorrow after market close. Here's what investors should know.
Last quarter UiPath reported revenues of $289.6 million, up 19.6% year on year, beating analyst revenue expectations by 1.85%. It was a mixed quarter for the company , with revenue guidance for the rest of the year exceeding expectations and cash flow turning positive year on year. On the other hand, guidance for the next quarter missed.
Is UiPath buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting UiPath's revenue to grow 19.9% year on year to $315.2 million, in line with the 19% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 5.45%.
Looking at Uipath's peers in the productivity software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Atlassian delivered top-line growth of 23.6% year on year, beating analyst estimates by 2.52%, and Monday.com reported revenues up 42% year on year, exceeding estimates by 3.77%. Atlassian traded up 12.3% on the results, and Monday.com was up 5.33%.
Read our full analysis of Atlassian's results here and Monday.com's results here.
Investors in the productivity software segment have had steady hands going into the earnings, with the stocks down on average 0.59% over the last month. UiPath is down 2.22% during the same time, and is heading into the earnings with analysts' average price target of $18.94, compared to share price of $15.83.
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The author has no position in any of the stocks mentioned.