This meeting discussed the financial performance of UIpath Corporation for the second quarter of 2026, including analysis of non-GAAP indicators, as well as financial forecasts for the third quarter and full year. The meeting also outlined the strategic direction for the company's future growth, operational efficiency improvements, and product platform expansion. All participants' statements were based on current information, and actual results in the future may vary due to various factors.

The speaker thanked partners and teams for their efforts, emphasizing UiPath's leading position in the field of automation and AI integration. They also highlighted that second quarter performance exceeded expectations, with ARR growing to $3 billion and revenue reaching $3.62 billion, a 14% year-on-year increase. By optimizing market strategies and improving operational efficiency, UiPath is accelerating the application of AI and IDP on top of RPA and APIs to deliver higher customer value and drive business growth.

Through the application of AI and automation technologies, companies such as Voya Financial and international mobile service providers have successfully achieved process optimization and cost savings. Uipath's AI platform and Maestro tool played a key role in this, driving internal automation transformation within the companies, improving work efficiency and customer satisfaction.

This quarter, UiPath launched API workflows to enhance the security of interactions between the platform and enterprise systems, while also expanding support for open-source frameworks such as Llama Index to simplify the development process. The introduction of UiPath Data Fabric provides a unified data layer to ensure efficient and seamless access to high-quality data for intelligent agents and automation processes. In addition, the Ixp feature has officially launched, significantly improving data extraction accuracy and helping enterprises achieve a more intelligent and flexible automation transformation.

The dialogue detailed the application of AI and automation technologies in enterprise transformation, with a focus on solutions developed in collaboration with partners such as Gsis, Cognizant, and Deloitte, such as UI Maestro, Intelligent Claims Processing Suite, and agentic Global Business Services. These partnerships not only accelerate enterprise transformation, but also bring significant value to customers by reducing manual intervention, optimizing processes, and achieving intelligent orchestration. Furthermore, deepening collaboration with Microsoft further strengthens Uipath's position as the preferred enterprise AI automation platform. Lastly, it mentioned the adoption of automation and AI technologies by public sectors such as the U.S. Navy, as well as the upcoming Uipath Fusion user conference, aimed at showcasing how AI and automation technologies are reshaping the future of enterprises.

The company reiterated progress in operational efficiency, customer adoption, and innovation investment, including completing restructuring, enhancing productivity, strengthening customer centricity and partner relationships. Financially, revenue growth was significant in the second quarter, with ARR reaching $172.3 million and cloud ARR surpassing $1 billion. New enterprise customers and strategic partners have deepened cooperation, while maintaining a high level of customer retention. Operating costs have been optimized, achieving profitability after non-GAAP adjustments, with healthy cash flow, ample cash and equivalents, and no debt. The company continues to repurchase shares, demonstrating confidence in long-term opportunities and commitment to shareholder returns.

In the ever-changing macroeconomic environment, the company has adjusted its financial guidance, expecting third-quarter revenue to be between $390 million and $395 million, with annual revenue between $1.571 billion and $1.576 billion. It emphasizes the positive impact of approximately $12 million from exchange rate fluctuations, as well as the progress of new business and the enhancement of the public sector team.

The meeting organizers provided a detailed introduction to the process of asking questions, including how to join and leave the question queue, as well as the method of using specific key operations. Participants were reminded that when asking questions, they may need to pick up the receiver to ensure that the key press is effective. The first questioner will be selected to answer, with each person limited to asking one initial question and one follow-up question.

The progress of Genx solution transitioning from concept validation (POC) and pilot stage to production deployment was discussed, highlighting how the combination of AI-based automation and RPA technology drives rapid growth in transaction volume. It was also mentioned the role of new technologies such as Agentic Orchestration and Agentic Builder in improving automation efficiency and discovering more automation opportunities, as well as how these technologies work in synergy with existing RPA and AI capabilities to further enhance transaction value.

Discussed the impact of government procurement behavior returning to normal on the stability of corporate guidance in the current macroeconomic environment. Despite facing uncertainties, companies expect to continue to maintain cautious macro outlook and view normal government procurement behavior as a positive signal. The company has maintained its guidance, considering the uncertainty of the macro environment, but remains optimistic about the future outlook.

The discussion explored the core competitive advantages of the Maestro platform in the market, including its neutrality in business systems, close integration with automation platforms, and comprehensive coverage in orchestration, automation, and AI fields. These features have enabled Maestro to succeed in competition with major orchestration platform suppliers, attracting a customer base that prefers not to rely on a single business system.

After more than a year of discussion on the transformation of market strategy, market actions have become closer to customers, breaking down barriers between internal departments, closely collaborating with product teams, driving iteration through customer interaction, and achieving significant results in overall market strategy transformation. The current structure and functionality of market actions are satisfactory.

Discussed the strong performance of federal business in the United States, especially in the public sector, emphasizing the stable signs after the finalization of the budget and the efficient execution of the sales team. Recently successfully won contracts with the Department of Veterans Affairs and the Coast Guard, receiving satisfactory feedback from major clients such as the Navy and IRS, demonstrating confidence in the market for the second half of the year.

Discussed the significant growth in subscription revenue, explained that the abnormal growth in the previous quarter was attributed to the leap year effect, and this quarter has returned to stability. Regarding the increase in confidence in annual ARR guidance, analyzed the performance exceeding expectations and additional optimistic factors, demonstrating a firm confidence in the full-year financial forecast.

The discussion focused on the market's perspective on the integration of AI and automation, with most customers recognizing the importance of automation in driving AI projects. The market is gradually accepting the necessity of combining the two. Additionally, the potential applications of AI agents in enterprises and the role of automation in them were explored. Furthermore, customer feedback on the pricing of AI agent combination products was mentioned, as well as the company's adjustments and learning in pricing strategy.

Discussed the alignment of consumption-based pricing models with customer interests, and the importance of increasing pricing predictability to enhance business case understanding. Emphasized the integration of AI solutions and automation platforms in marketing, as well as the role of specialized sales teams in vertical industries, to continuously optimize market entry strategies.

Discussed UiPath's financial performance in the third quarter, highlighting the impact of foreign exchange factors and positive trends compared to the second quarter. Emphasized the strengthening of market organization execution, increase in customer activity, improvement in sales conversion rate, and optimization of product management and on-site feedback loop, expressing optimism for future growth.

Discussed UiPath's market positioning in the automation and AI fields, including prioritized business processes and partnerships with SAP and Deloitte. Emphasized the automation advantages in sectors such as healthcare and financial services, as well as the ability to expand existing robot systems to end-to-end process automation. Additionally, mentioned deepening collaboration with system integrators (SI), especially in the genetic engineering field, and the successful progress of the tripartite partnership with SAP and Deloitte, demonstrating the company's leading position and expansion strategy in the automation and AI market.

Discussed the progress of the new automation platform in integrating AI capabilities with existing workflows, as well as the reasons for the slowdown in the growth of existing customer Annual Revenue (AR). Mentioned the impact of the macroeconomic environment, government spending, and the continued growth of customer segmentation groups, predicting that automation tools will contribute to ARR and enhance platform value.

The performance of different geographic regions and vertical industries in the changing macroeconomic environment was discussed, highlighting the strong momentum in the financial and healthcare industries in the United States, as well as the manufacturing industry in Europe. Trends in the public sector were also seen as a positive signal. The uncertainty in the macroeconomy is impacting various industries, prompting companies to maintain a cautious outlook for the year.

The conversation discussed whether the stability of the USF business has been taken into account in the current guidance forecasts, and whether additional contributions from this business are expected in the second quarter, especially in a more stable operating environment.

The conversation discussed the expected contribution of the American public sector in the second quarter, pointing out that purchasing behavior tends to be more predictable when the environment is more stable. Taking into account the current visible physical sales channels, the participation of the US federal government is seen as a positive signal. Although remaining cautious, it is still expected that the American public sector will bring more contributions.

In the conversation, the speaker thanked everyone for their questions and expressed looking forward to meeting more people in the next quarter. They then announced the end of the meeting, invited everyone to end the call, and bid farewell warmly.