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UiPath
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Latest analysis
Updated Sep 8, 2026
UiPath Q2 FY2027: Revenue and ARR accelerating, operating leverage expanding as agentic automation narrative crystallizes
UiPath posted Q2 FY2027 revenue of $410.3 million, up 13% year-over-year, with H1 FY2027 revenue of $828.6 million up 15%, driven predominantly by existing customers (72% of growth) and a subscription services base now generating $266 million quarterly. Operating income turned decisively positive at $31.6 million for the quarter versus a loss of $20.2 million in the prior-year period, as stock-based compensation normalization and R&D efficiency gains compressed total opex from 88% to 72% of revenue. ARR reached $1.94 billion at 12% growth with dollar-based net retention of 109%, while the WorkFusion acquisition adds intelligent document processing capabilities to the agentic automation platform.
Tone: bullishRevenue
$1.6B
PATH 10-K · FY 2026
Employees
3,981
Revenue growth YoY
+13%
Founded
2005
Profile
PATH 10-K Item 1 · Mar 25, 2026UiPath is an enterprise automation software company whose platform combines robotic process automation (RPA), AI agents, process intelligence, and orchestration capabilities to automate complex, judgment-intensive business workflows. Originally founded in Bucharest in 2005 and incorporated in Delaware in 2015, the company has evolved from rule-based RPA into what it calls agentic automation, enabling enterprises to deploy AI agents that act autonomously across end-to-end processes. It serves approximately 10,747 customers across financial services, healthcare, manufacturing, retail, public sector, and supply chain verticals globally.
Read filing description ↓ Collapse description ↑
Building upon decades of leadership in automation, UiPath is pioneering the evolution from rule-based automation to intelligent agentic automation. The UiPath Platform uniquely combines controlled agency, developer flexibility, and seamless integration to help organizations scale agentic automation safely and confidently. Committed to security, governance, and interoperability, we support enterprises as they transition into a future where automation delivers on the full potential of AI to transform industries. Our platform empowers customers to combine automation, AI agents, and people, delivering end-to-end process orchestration that drives innovation. The platform includes capabilities spanning orchestration via UiPath Maestro, enterprise agent building, RPA and API automation, intelligent document processing (IXP), agentic testing via Test Cloud, and purpose-built vertical solutions for industries such as financial services, insurance, healthcare, retail, supply chain, and manufacturing. We sell through a direct sales force supported by pre-sales engineers and professional services, as well as through channel partners and systems integrators. New agentic capabilities enable expansion within organizations as customers automate more complex workflows requiring decision-making. Our multi-tenant platform supports deployment on-premises, in public or private cloud, or in hybrid environments, and is also available as a managed SaaS offering called Automation Cloud.
Primary products
- UiPath Platform
- UiPath Maestro
- UiPath Agent Builder
- Intelligent Xtraction & Processing (IXP)
- UiPath Test Cloud
- Automation Cloud
End markets
Geographies
“We deliver a scalable, reliable, and secure agentic automation platform that unifies AI agents, robots, people, and models to orchestrate end-to-end, complex enterprise processes— going beyond automation of repetitive tasks to automating dynamic, judgment-intensive workflows.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Total revenue grew 13% year-over-year in fiscal year 2026, driven by continued expansion in subscription services, which increased from $801.9 million to $954.5 million.
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