Romania-born unicorn UiPath plunges 40% over past six months
NYSE-listed UiPath (PATH), the first Romanian unicorn and the market leader in RPA (Robotic Process Automation), is facing a sharp decline in terms of market capitalisation, as its shares have lost over 40% in value over the past 6 months.
Despite Q3 financials topping analysts' expectations, the company's shares continued to fall and are currently listed 15% below the price in the IPO carried out this April, Adevarul reported.
The above-expectations results meant, however, smaller losses. The company reported a third-quarter loss of USD 122.8 mln, or 23 cents a share, compared with a loss of USD 70.8 mln, or 41 cents a share, in the year-ago period.
The company's shares fell nearly 4% after hours in response to the release, following a 1.6% rise in the regular session to close at USD 47.71, or 15% below their April IPO price of USD 56 a share.
Recurring annual revenue was USD 818.4 mln, up 58% from the previous year. Analysts had expected the indicator to be USD 797.9 mln.
Total operating expenses were USD 294 mln, up from USD 192.9 mln a year earlier, as the company spent more on sales and marketing and R&D.
(Photo source: Facebook/UiPath)