UiPath, Inc. (NYSE: PATH), a leader in agentic automation, reported its first-quarter fiscal 2026 financial results, marking a notable solid performance that showcases resilient growth despite challenging market conditions. For the quarter ending April 30, 2025, UiPath generated revenue of $357 million, reflecting a 6% increase year-over-year. The company’s annual recurring revenue (ARR) also saw an uptick, totaling $1.693 billion, which represents a 12% year-over-year growth.

UiPath reported a net increase of $27 million in ARR during the quarter. The company’s dollar-based net retention rate stood at 108%. With a GAAP gross margin of 82% and a non-GAAP gross margin of 84%, operational efficiency was evident. UiPath’s GAAP operating loss narrowed to $16 million, a significant improvement from a loss of $49 million during the same period last year. On a non-GAAP basis, operating income reached $70 million, equating to a margin of 20%, an improvement of 450 basis points year-over-year.

The company’s cash flow from operations was reported at $119 million, indicating strong operational performance. Non-GAAP adjusted free cash flow of $117 million reflected a 33% margin, which increased by over 250 basis points year-over-year. As of the quarter-end, UiPath maintained a healthy balance sheet with approximately $1.6 billion in cash, cash equivalents, and marketable securities, alongside no outstanding debt.

Looking ahead, UiPath provided guidance for the second quarter fiscal 2026, expecting revenue in the range of $345 million to $350 million, while projecting ARR to be between $1.715 billion and $1.720 billion. Non-GAAP operating income for the second quarter is anticipated to be approximately $40 million.

For the full fiscal year 2026, the company expects revenue to be in the range of $1.549 billion to $1.554 billion and ARR to reach between $1.820 billion and $1.825 billion. The annual non-GAAP operating income is projected to be around $305 million, while non-GAAP adjusted free cash flow for the year is expected to be approximately $370 million with a non-GAAP gross margin forecasted to be about 85%.

UiPath’s first-quarter growth trajectory illustrates a stable condition, supported by the introduction of its agentic automation platform, which the company considers fundamental to driving future revenue streams as the market for AI-driven automation expands.