This tech stock is up 15% in extended hours: explained here

Shares of UiPath Inc (NYSE: PATH) jumped about 15% in extended trading after the automation software company reported market-beat results for its fourth financial quarter.

UiPath stock gains on solid guidance

Investors are happy also because the company topped estimates in terms of future outlook. UiPath is now calling for $1.253 billion to $1.258 billion in revenue this year, including up to $272 million in its current quarter.

In comparison, experts had forecast $269.6 million for the quarter and $1.214 billion in revenue for the full year. According to CFO Ashim Gupta:

Wall Street currently has a consensus “overweight” rating on the UiPath stock.

Notable figures in UiPath Q4 results

• Lost $27.7 million versus the year-ago $63.1 million
• Per-share loss also narrowed from 12 cents to 5 cents
• Adjusted EPS printed at 15 cents as per the press release
• Revenue climbed 6.5% year-over-year to $308.5 million
• Consensus was 7 cents a share on $278.6 million revenue

Annualised renewal rate or “ARR” went up 30% to $1.2 billion. In the earnings press release, CEO Rob Enslin:

The tech company now has 299 customers in total with an ARR of $1.0 million or more. Year-to-date, UiPath stock is now up more than 35%.