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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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UiPath drops almost 10% on NYSE after first earnings report since IPO

The shares of Romanian-born robotic processing automation (RPA) company UiPath (NYSE: PATH) closed the trading session on Wednesday 9.6% lower than on the previous day after the company’s first quarterly earnings report since its April listing.

UiPath posted a net loss of USD 239.6 mln for the first quarter of 2021, 4.5 times higher than in the same quarter of last year. However, UiPath reported a 65% increase in revenues to USD 186 mln.

The company’s business performance, measured with the annualized renewal run-rate (ARR) indicator, also improved by 64% to USD 652.6 mln.

“We have experienced rapid growth and now have over 8,500 customers worldwide, including 1,105 customers with ARR of USD 100,000 or greater and 104 customers with ARR of USD 1 million or greater,” said UiPath’s CFO Ashim Gupta.

For the whole year, UiPath expects an ARR in the range of USD 850-855 mln.

Despite the strong revenue growth, UiPath’s shares tumbled under USD 70 and are now trading 23% under the all-time high price of USD 90, but still 22% above the IPO price of USD 56.

The drop on Wednesday was not so much influenced by the results, which came above the analysts’ expectations, but by the announcement of a partial early lock-up release allowing stockholders who owned shares before the IPO to sell part of their holdings, according to Investors.com.

UiPath listed its shares on the New York Stock Exchange in April after a USD 1.3 bln IPO. The company co-founded and managed by Romanian entrepreneur Daniel Dines is currently valued at USD 35.7 bln.

editor@romania-insider.com

(Photo source: the company)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

UiPath drops almost 10% on NYSE after first earnings report since IPO

The shares of Romanian-born robotic processing automation (RPA) company UiPath (NYSE: PATH) closed the trading session on Wednesday 9.6% lower than on the previous day after the company’s first quarterly earnings report since its April listing.

UiPath posted a net loss of USD 239.6 mln for the first quarter of 2021, 4.5 times higher than in the same quarter of last year. However, UiPath reported a 65% increase in revenues to USD 186 mln.

The company’s business performance, measured with the annualized renewal run-rate (ARR) indicator, also improved by 64% to USD 652.6 mln.

“We have experienced rapid growth and now have over 8,500 customers worldwide, including 1,105 customers with ARR of USD 100,000 or greater and 104 customers with ARR of USD 1 million or greater,” said UiPath’s CFO Ashim Gupta.

For the whole year, UiPath expects an ARR in the range of USD 850-855 mln.

Despite the strong revenue growth, UiPath’s shares tumbled under USD 70 and are now trading 23% under the all-time high price of USD 90, but still 22% above the IPO price of USD 56.

The drop on Wednesday was not so much influenced by the results, which came above the analysts’ expectations, but by the announcement of a partial early lock-up release allowing stockholders who owned shares before the IPO to sell part of their holdings, according to Investors.com.

UiPath listed its shares on the New York Stock Exchange in April after a USD 1.3 bln IPO. The company co-founded and managed by Romanian entrepreneur Daniel Dines is currently valued at USD 35.7 bln.

editor@romania-insider.com

(Photo source: the company)

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