The downward path continues for many technology and software companies, including UiPath. 📉
The company’s shares fell roughly 20% today despite beating earnings and revenue expectations for the current quarter.
Where it ran into trouble, however, was with its forecast. The company ratcheted down its third-quarter, and full-year revenue and annualized renewal run rate (ARR) forecasts, citing foreign currency headwinds and overall macroeconomic uncertainty. 🔻
It’s been a rough ride for the software robot provider as a public company. After a short pop following its April 2021 IPO, its shares have fallen roughly 85%.
We’ll have to wait and see what, if anything, can turn the company’s shares around. 🤷