Why UIPath Stock Fell 15% in June
Shares of UIPath (NYSE: PATH) fell 15% in June, according to data from S&P Global Market Intelligence. The company issued a solid fiscal 2022 first-quarter report card (the three months ended April 30) in June, but the stock was up as much as 20% since it made its publicly traded debut this spring. A cooling-off was thus in order after the company confirmed it expects to continue growing at a rapid pace the rest of this year.
As to the specifics from its quarterly report, revenue was up 65% year over year to $186 million. Free cash flow was negative $20.1 million in the period, but that's because UIPath is spending heavily to maximize its expansion right now. With a gross profit margin of 74%, this will be a highly profitable firm one day in the not-so-distant future.
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Source Fool.com
