Filing Flows › UiPath (PATH) › Q2 FY27 › vs Q1 FY27
UiPath (PATH) Q2 FY27 vs Q1 FY27 (quarter over quarter)
UiPath's revenue fell $8.1M (-2%) from $418M in Q1 FY27 to $410M in Q2 FY27. The biggest changes: Licenses −$25.5M (-17%); Subscription services +$13.2M (+5%); Professional services and other +$4.2M (+26%). Gross margin 80.4% against 81.6% (-1.3 pts).
UiPath, Q2 FY27: revenue $410M (+13% year over year), operating margin 7.7%, net earnings $36.1M, operating cash flow $30.7M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 80.4% | 81.6% | -1.3 pts |
| Operating margin | 7.7% | 6.7% | +1.0 pts |
| Net margin | 8.8% | 5.4% | +3.4 pts |
| Free cash flow margin | 7.1% | 30.9% | -23.7 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| Subscription services | $266M | $253M | $13.2M | +5% |
| Licenses | $124M | $149M | −$25.5M | -17% |
| Professional services and other | $20.3M | $16.2M | $4.2M | +26% |
| Revenue | $410M | $418M | −$8.1M | -2% |
| Gross profit | $330M | $341M | −$11.8M | -3% |
| Cost of revenue | $80.6M | $76.9M | $3.7M | +5% |
| Other income, net | $21.3M | $13.0M | $8.3M | +64% |
| Operating profit | $31.6M | $28.0M | $3.6M | +13% |
| Operating expenses | $298M | $313M | −$15.4M | -5% |
| Pre-tax earnings | $52.9M | $41.0M | $11.9M | +29% |
| Research & development | $83.4M | $92.9M | −$9.5M | -10% |
| Sales & marketing | $165M | $168M | −$3.3M | -2% |
| General & admin | $50.1M | $52.7M | −$2.6M | -5% |
| Net earnings | $36.1M | $22.5M | $13.6M | +60% |
| Income tax | $16.8M | $18.4M | −$1.7M | -9% |
| Operating cash sources | $90.1M | $83.3M | $6.7M | +8% |
| Depreciation & amortization | $9.0M | $7.5M | $1.5M | +20% |
| Share-based compensation | $45.0M | $53.3M | −$8.3M | -16% |
| Working capital & other | $59.4M | −$48.6M | $108M | — |
| Operating cash flow | $30.7M | $132M | −$101M | -77% |
| Free cash flow (OCF − capex) | $29.3M | $129M | −$99.9M | -77% |
| Capital expenditures | $1.4M | $2.7M | −$1.3M | -48% |
Questions
How much did UiPath's revenue grow quarter over quarter in Q2 FY27?
UiPath's revenue fell $8.1M (-2%) from $418M in Q1 FY27 to $410M in Q2 FY27.
What drove UiPath's revenue change in Q2 FY27?
Licenses −$25.5M (-17%); Subscription services +$13.2M (+5%); Professional services and other +$4.2M (+26%).