The automation software firm exceeded revenue guidance and reported a 109% dollar-based net retention rate for the quarter.
UiPath reported fiscal first-quarter revenue of $418.4 million, a 17% year-over-year increase, surpassing its guidance range of $395 million to $400 million. Annual recurring revenue (ARR) reached $1.9 billion, up 12% from the prior year, while new ARR added $49 million for the quarter.
The company’s dollar-based net retention rate improved to 109%, indicating growth among existing customers, up from 107% in the previous quarter. AI-driven deals accounted for 16 of its 20 largest contracts and were six times larger on average than non-AI deals. Adjusted earnings per share rose 36% to $0.15.
Shares remain under pressure, trading over 25% below year-to-date levels despite the strong results, reflecting broader SaaS sector weakness.