UiPath Shares Down After Reporting Loss In Q2

UiPath Inc. (PATH) shares are sliding on Wednesday morning trade after the company reported net loss for the second quarter compared to profit last year.

The enterprise automation software company reported quarterly net loss of $100.01 million or $0.19 per share, compared to $4.99 million a year ago.

Total revenue for the quarter was at $195.52, up from $139.38 million last year.

Currently, shares are at $56.76, down 9.13 percent from the previous close of $62.46 on a volume of 7,744,532. The shares have traded in a range of $55.38-$90.00 on average volume of 3,077,473.

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