UiPath to cut ~5% workforce, raises FY23 non-GAAP operating income guidance to ~$15M

UiPath, Inc.

Approves restructuring cutting ~5% of global workforce (~4,200 employees), with most reductions by end of Q2 FY2023.
Expects ~$15M in restructuring charges, mainly severance and lease costs, recognized by end of FY2023.
Reiterates Q2 FY2023 revenue guidance of $229-231M and ARR $1,040-1,042M; raises full-year non-GAAP operating income guidance to ~$15M.
Full-year FY2023 revenue and ARR guidance unchanged at $1,085-1,090M and $1,220-1,225M respectively.

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