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DeepNewz, mobile.
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UiPath, a tech company, saw its stock plummet by over 25% in after-hours trading following the announcement of CEO Rob Enslin's resignation, to be replaced by co-founder Daniel Dines effective June 1, 2024. The company's Q1'24 earnings report showed revenue hitting $335.1 million, surpassing estimates, with an EPS of $0.13. Additionally, UiPath's guidance for FY'25 revenue was slashed, attributing it to increased deal scrutiny and lengthening sales cycles for large multi-year deals.
UiPath stock fell after the company said that its second-quarter and full-year revenue would fall short of analysts’ estimates. To top it off, CEO Rob Enslin is resigning, with founder and former CEO Daniel Dines returning to the top job. https://t.co/vI6RpzOKXX
Holy 🤯! UiPath down 30% overnight + more today. Market cap now $6.9B on $1.4B forecast for FY 25. With $1.9B of cash, its EV is $5B. Lowered revenue guidance for Q2 from $342 to $300-305M + founder back as sole CEO. The impact of GenAI is real... +/- Still an amazing… https://t.co/1upuIHsBPg
⚠️ JUST IN: *UIPATH STOCK DIVES 35% ON WEAK OUTLOOK, MESSY CEO TRANSITION $PATH https://t.co/0eSn0xlhiJ