Filing Flows › UiPath (PATH) › Q2 FY27 › vs Q2 FY26
UiPath (PATH) Q2 FY27 vs Q2 FY26 (year over year)
UiPath's revenue rose $48.5M (+13%) from $362M in Q2 FY26 to $410M in Q2 FY27. The biggest changes: Subscription services +$27.7M (+12%); Licenses +$11.7M (+10%); Professional services and other +$9.1M (+82%). Gross margin 80.4% against 82.2% (-1.8 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 Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 80.4% | 82.2% | -1.8 pts |
| Operating margin | 7.7% | -5.6% | +13.3 pts |
| Net margin | 8.8% | 0.4% | +8.4 pts |
| Free cash flow margin | 7.1% | 11.5% | -4.4 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Subscription services | $266M | $238M | $27.7M | +12% |
| Licenses | $124M | $112M | $11.7M | +10% |
| Professional services and other | $20.3M | $11.2M | $9.1M | +82% |
| Revenue | $410M | $362M | $48.5M | +13% |
| Gross profit | $330M | $297M | $32.3M | +11% |
| Cost of revenue | $80.6M | $64.4M | $16.2M | +25% |
| Other income, net | $21.3M | $23.5M | −$2.3M | -10% |
| Operating profit | $31.6M | −$20.2M | $51.8M | — |
| Operating expenses | $298M | $318M | −$19.5M | -6% |
| Pre-tax earnings | $52.9M | $3.3M | $49.5M | 16× |
| Research & development | $83.4M | $98.3M | −$14.9M | -15% |
| Sales & marketing | $165M | $166M | −$1.7M | -1% |
| General & admin | $50.1M | $52.9M | −$2.8M | -5% |
| Net earnings | $36.1M | $1.6M | $34.5M | 23× |
| Income tax | $16.8M | $1.7M | $15.0M | +862% |
| Operating cash sources | $90.1M | $83.8M | $6.2M | +7% |
| Depreciation & amortization | $9.0M | $4.2M | $4.8M | +113% |
| Share-based compensation | $45.0M | $78.0M | −$33.0M | -42% |
| Working capital & other | $59.4M | $42.2M | $17.1M | +41% |
| Operating cash flow | $30.7M | $41.6M | −$10.9M | -26% |
| Free cash flow (OCF − capex) | $29.3M | $41.6M | −$12.3M | -30% |
| Capital expenditures | $1.4M | $0 | $1.4M | — |
Questions
How much did UiPath's revenue grow year over year in Q2 FY27?
UiPath's revenue rose $48.5M (+13%) from $362M in Q2 FY26 to $410M in Q2 FY27.
What drove UiPath's revenue change in Q2 FY27?
Subscription services +$27.7M (+12%); Licenses +$11.7M (+10%); Professional services and other +$9.1M (+82%).