UiPath (PATH) shares fell on Thursday, July 30, after the company issued a second-quarter forecast indicating slowing growth. The stock dropped as much as 3.3% in early trading. Shares closed the day down 1.75%. Broader market indices posted gains during the session.
The company projects net new annualized recurring revenue (ARR) between $28 million and $33 million for the upcoming quarter. The midpoint of this range represents a 38% decrease from the first quarter. This forecast shows little to no growth compared to the same period last year. Investors expressed concern regarding the company's near-term business momentum.