UiPath (PATH) shares surged 7% in the 24-hour trading session, driven by the company's strong third-quarter earnings report and optimistic guidance for the fourth quarter.
The automation software maker reported Q3 revenue of $411 million, surpassing the consensus estimate of $393 million, while adjusted earnings per share of $0.16 also beat expectations of $0.15. The company's annualized renewal run-rate (ARR) grew 11% year-over-year to $1.78 billion, reflecting strong demand for its AI-powered automation solutions.
UiPath CEO Daniel Dines highlighted the company's momentum in AI and automation strategies, citing collaborations with Microsoft, OpenAI, and NVIDIA as key growth drivers. The company also provided strong Q4 revenue guidance of $462 million to $467 million, aligning with or slightly exceeding analyst expectations.