UiPath shares fall after better quarterly results

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UiPath shares fall after better quarterly results

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.