Filing Flows › UiPath (PATH) › Q1 FY27 › vs Q4 FY26
UiPath (PATH) Q1 FY27 vs Q4 FY26 (quarter over quarter)
UiPath's revenue fell $62.7M (-13%) from $481M in Q4 FY26 to $418M in Q1 FY27. The biggest changes: Licenses −$66.6M (-31%); Professional services and other +$2.2M (+16%); Subscription services +$1.7M (+0.7%). Gross margin 81.6% against 84.6% (-3.0 pts).
UiPath, Q1 FY27: revenue $418M (+17% year over year), operating margin 6.7%, net earnings $22.5M, operating cash flow $132M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 81.6% | 84.6% | -3.0 pts |
| Operating margin | 6.7% | 16.7% | -10.0 pts |
| Net margin | 5.4% | 21.7% | -16.3 pts |
| Free cash flow margin | 30.9% | 37.3% | -6.4 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Subscription services | $253M | $251M | $1.7M | +0.7% |
| Licenses | $149M | $216M | −$66.6M | -31% |
| Professional services and other | $16.2M | $14.0M | $2.2M | +16% |
| Revenue | $418M | $481M | −$62.7M | -13% |
| Gross profit | $341M | $407M | −$65.7M | -16% |
| Cost of revenue | $76.9M | $73.9M | $3.0M | +4% |
| Other income, net | $13.0M | $12.2M | $830K | +7% |
| Operating profit | $28.0M | $80.3M | −$52.3M | -65% |
| Operating expenses | $313M | $327M | −$13.4M | -4% |
| Pre-tax earnings | $41.0M | $92.4M | −$51.5M | -56% |
| Research & development | $92.9M | $95.2M | −$2.3M | -2% |
| Sales & marketing | $168M | $178M | −$10.3M | -6% |
| General & admin | $52.7M | $53.5M | −$842K | -2% |
| Net earnings | $22.5M | $104M | −$81.9M | -78% |
| Income tax | $18.4M | −$12.0M | $30.5M | — |
| Depreciation & amortization | $7.5M | $5.0M | $2.5M | +51% |
| Share-based compensation | $53.3M | $64.8M | −$11.5M | -18% |
| Working capital & other | $48.6M | $8.1M | $40.5M | +501% |
| Operating cash flow | $132M | $182M | −$50.4M | -28% |
| Free cash flow (OCF − capex) | $129M | $179M | −$50.1M | -28% |
| Capital expenditures | $2.7M | $3.1M | −$368K | -12% |
Questions
How much did UiPath's revenue grow quarter over quarter in Q1 FY27?
UiPath's revenue fell $62.7M (-13%) from $481M in Q4 FY26 to $418M in Q1 FY27.
What drove UiPath's revenue change in Q1 FY27?
Licenses −$66.6M (-31%); Professional services and other +$2.2M (+16%); Subscription services +$1.7M (+0.7%).