Filing Flows › UiPath (PATH) › Q2 FY26
UiPath (PATH) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 8, 2025
UiPath (PATH) reported revenue of $362M for the second quarter fiscal 2026 (Q2 FY26), +14% from a year earlier and +1% from the quarter before. Operating margin was -5.6%, net earnings $1.6M (0.4% of revenue).
UiPath, Q2 FY26: revenue $362M (+14% year over year), operating margin -5.6%, net earnings $1.6M, operating cash flow $41.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $362M | +1% | +14% |
| Operating profit | −$20.2M | — | — |
| Net earnings | $1.6M | — | — |
| Operating cash flow | $41.6M | -65% | -10% |
What changed
Revenue was $361.7M in Q2 FY26, up 14% year over year and up 1% from the previous quarter. Subscription services was the largest line at 66% of revenue. Subscription services added $43.7M year over year (up 22%), 96% of the total change.
Gross margin was 82.2%, up 2.2 points from a year earlier. Operating costs exceeded revenue by $20.2M, an operating margin of -5.6%. Operating expenses fell 11% while revenue rose 14%. Net earnings were $1.6M. The effective tax rate was 52.4%. Non-operating items added $23.5M, 707% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $41.6M (down 10% year over year), 2625% of net earnings. Non-cash charges added back $4.2M of depreciation and amortization and $78.0M of share-based compensation. Working capital and other items used $42.2M.
Questions
What was UiPath's revenue in the second quarter fiscal 2026?
UiPath (PATH) reported revenue of $362M for the second quarter fiscal 2026 (Q2 FY26), +14% from a year earlier and +1% from the quarter before.
Was UiPath profitable in the second quarter fiscal 2026?
Operating loss was $20.2M (-5.6% of revenue) and net earnings $1.6M.
Source: UiPath 10-Q on SEC EDGAR.