UiPath (NYSE:PATH) stock is falling on Thursday after the end-to-end automation company announced a change in CEOs during its latest earnings report.
UiPath says that Rob Enslin is stepping down as CEO and board member. The company has reappointed Daniel Dines, its founder and previous CEO, as its next CEO.
This change is set to go into effect on Saturday. Enslin will stick around in an advisory role to ensure a smooth transition between CEOs. It’s also worth noting that Dines is the Chief Innovation Officer and Executive Chairman of the company.
The UiPath founder said the following about taking back the CEO role:
“I thank Rob for his contributions to UiPath during the past two years, during which he played a significant role in the company’s growth. With this change, I’m excited to step back into the CEO role and I am looking forward to leading the company through our next phase of profitable growth and innovation.”
PATH Stock: Q1 Earnings
News of the CEO change is dragging down PATH stock despite positive fiscal Q1 2025 results. The company reported adjusted EPS and revenue of 13 cents and $335.11 million. Both of these are better than Wall Street’s estimates of 12 cents per share and revenue of $333.01 million.
Unfortunately, its revenue guidance isn’t helping matters. The company expects Q2 revenue to range from $300 million to $305 million and fiscal revenue between $1.405 billion to $1.41 billion. For comparison, analysts’ estimates are sitting at $342.33 million for Q2 and $1.56 billion for the year.
PATH stock is down 30.4% as of Thursday morning.
Investors will want to keep reading for more of the most recent stock market stories today!
We have all of that news ready to go on Thursday! That includes what’s happening with shares of NovaBay Pharmaceuticals (NYSEMKT:NBY) stock, Smart for Life (NASDAQ:SMFL) stock and Cue Health (NASDAQ:HLTH) stock. You can find out all about these matters below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
