05:17 PM EDT, 05/29/2024 (MT Newswires) -- UiPath ( PATH ) reported late Wednesday fiscal Q1 non-GAAP earnings of $0.13 per diluted share, up from $0.11 a year earlier.

Analysts polled by Capital IQ expected $0.12.

Revenue in the quarter ended April 30 rose to $335.1 million from $289.6 last year.

Analysts polled by Capital IQ expected $333 million.

The company expects revenue of $300 million to $305 million in fiscal Q2 and $1.405 billion to $1.41 billion in the full year. Analysts surveyed by Capital IQ expect $342.1 million in Q2 and $1.56 billion in the fiscal year.

The company named Daniel Dines as chief executive officer, effective Saturday, succeeding Rob Enslin, who is resigning.

Dines currently serves as chief innovation officer and executive chairman of the board.

Dines co-founded UiPath ( PATH ) in 2005 and served as CEO or co-CEO and executive chairman from that time through Jan. 31, the company said Wednesday in a separate statement. Enslin joined UiPath ( PATH ) as co-CEO in April 2022 and served as sole CEO from Feb. 1.

Shares of UiPath ( PATH ) tumbled 30% in after-hours activity.

Price: 12.88, Change: -5.42, Percent Change: -29.62