Companies /Technology

UiPath Inc - Class A

NYSE: PATH Software - Infrastructure
$18.16
▼ $0.52 (−2.76%) today
Markets closed · 6:09pm ET

Q3 2026 Earnings

Reported Dec 3, 2025, 4:13pm ET · SEC source
$0.16
Beat +9.59%
EPS · est. $0.15
$411.1M
Beat +4.64%
Revenue · est. $392.9M
+15.5%
Beating market
PATH vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−7%0+7%+14%Dec 3Dec 4report 4:13pm ETearnings+0.1%+12.0%
−7%0+7%+14%Dec 3Dec 4earnings+0.1%+12.0%
PATH +12.0%S&P 500 +0.1%
−7%0+7%+14%Dec 3Dec 4report 4:13pm ETearnings+0.0%+12.0%
−7%0+7%+14%Dec 3Dec 4earnings+0.0%+12.0%
PATH +12.0%NASDAQ +0.0%
−9%0+9%+18%Dec 2Dec 11report 4:13pm ETearnings+0.8%+10.6%
−9%0+9%+18%Dec 2Dec 11earnings+0.8%+10.6%
PATH +10.6%S&P 500 +0.8%
−9%0+9%+18%Dec 2Dec 11report 4:13pm ETearnings+0.3%+10.6%
−9%0+9%+18%Dec 2Dec 11earnings+0.3%+10.6%
PATH +10.6%NASDAQ +0.3%
+3.92%
Day of report
+24.36%
Next session
+25.77%
One week
+16.62%
30 days

S&P 500 over the same 30 days: +1.16%.

Did PATH Beat Earnings? Q3 2026 Results

UiPath posted a broad beat in its fiscal third quarter 2026, with revenue climbing 15.9% year-over-year to $411.11 million against a consensus estimate of $392.87 million, while non-GAAP earnings per share of $0.16 topped the $0.15 estimate by 9.59%, as enterprises accelerated spending on AI and automation platforms. The most material driver of the quarter was a sharp profitability swing, with GAAP operating income reaching $13.07 million compared to a loss of $43.36 million a year ago, and non-GAAP operating income nearly doubling to $87.78 million from $49.72 million, pushing non-GAAP operating margin to 21% from 14%. Annual recurring revenue grew 11% year-over-year to $1.78 billion, supported by a dollar-based net retention rate of 107%. Shares moved higher following the report, reflecting investor confidence in the company's deepening partnerships with Microsoft, OpenAI, Google, NVIDIA, and Snowflake. Looking ahead, management guided Q4 revenue of $462 million to $467 million and non-GAAP operating income of approximately $140 million, signaling continued margin expansion into the fiscal year-end close.

Key Takeaways
  • 16% year-over-year revenue growth driven by subscription services expansion
  • ARR of $1.782 billion up 11% year-over-year with net new ARR of $59 million
  • Dollar-based net retention rate of 107%
  • GAAP operating margin swung to positive 3% from negative 12% year-over-year
  • Non-GAAP operating margin expanded to 21% from 14% year-over-year
  • Enterprise adoption of agentic automation and unified platform approach

“I am pleased with our third quarter results delivering ARR of $1.782 billion, up 11 percent year-over-year, a testament to the team's focus, consistent execution, and the momentum we're seeing as customers scale agentic automation across the enterprise.”

UiPath CEO, on the earnings call

Forward Guidance & Outlook

For Q4 fiscal 2026, UiPath expects revenue of $462 million to $467 million, ARR of $1.844 billion to $1.849 billion as of January 31, 2026, and non-GAAP operating income of approximately $140 million. Management expressed confidence in momentum heading into the fiscal year-end close, citing strengthened operating rhythm and execution.

PATH YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$200.0M$400.0M$354.7M$411.1MRevenue$290.9M$342.3MGross Profit$5.7M$13.1MOperating Income$9.6M$198.8MNet Income
$0$200.0M$400.0MRevenueGross ProfitOperating IncomeNet Income

PATH Revenue by Segment

Subscription Services$247.6M
Licenses$150.0M
Professional Services and Other$13.5M

Figures from SEC filings and company reports. Not investment advice.