The software robots provider's quarterly results surpassed Wall Street expectations, so UiPath Inc. shares fell in the extended session Wednesday.
The shares of UiPath PATH fell nearly 6% after a 1.6% rise in the regular session to close at $47.71, or 15% below the April IPO price of $56 a share.
The break-even earnings, excluding stock-based compensation expenses, were a break-even a share, compared with a loss of 4 cents a share in the year-ago period. Revenue rose to $220.8 million from $147.3 million in the year-ago quarter. ARR, the company's annualized renewal run rate, rose 58% to $818.4 million from a year ago. ARR is a metric often used by software-as-a-service companies to show how much revenue the company can expect based on subscriptions. Analysts had predicted a loss of $408.3 million and an ARR of $797.9 million, based on the UiPath's forecast revenue of $207 million to $209 million and an ARR of $796 million to $798 million for the third quarter. Analysts expect revenue of $281.5 million and ARR of $880.3 million to be posted on the UiPath IPO: 5 things to know about the software robots company, which is valued at nearly $30 billion.