UiPath Raises Revenue Outlook Amid AI Strategy Shift

UiPath Inc. reported second-quarter revenue of $410 million, a 13% increase over the previous year that surpassed analyst expectations of $397.8 million. The company posted a net income of $36.1 million and raised its full-year revenue outlook for fiscal 2027 to a range between $1.789 billion and $1.794 billion.

Despite the positive financial results and a target revenue of $440 million to $445 million for the current quarter, the company's stock fell more than 7% in after-hours trading following an initial 10% surge. This volatility follows investor concerns that artificial intelligence could disrupt the company's core business model.

To address these concerns, the company is developing autonomous AI agents to complement its traditional robotic process automation. In a move to increase speed and accountability, the company also promoted Hitesh Ramani to chief financial officer.