Energy News Today

Focus on UiPath Inc results ahead of Blue Prism Group PLC interims

Tech earnings are subdued across both sides of the pond this week. A highlight will be maiden quarterly results from UiPath, tomorrow.

The week ahead

In the UK, we are aware of no tech companies reporting this week that are on our radar; however, there is a handful of tech-related businesses reporting such as (LON: OTMP) and (LON: OXIG) on Tuesday and  (LON: AUTO) and  (LON: HLMA) on Thursday. 

Across the pond, It is also a very quiet week for earnings. Tech companies expected to report include Coupa Software, Verint Systems and UiPath.

The highlight from the US will be UiPath, which reports its first-quarter (Q1) results for the period ending April, after the close tomorrow. UiPath floated on the New York Stock Exchange in April at US$56 and has since risen to around US$76, giving the company a market capitalisation of around US$39bn (approximately £28bn). The business has been growing at pace, with revenues rising by 81% to US$607.6mln in the year to January 2021. Its UK peer Blue Prism has slipped by 25% since the UiPath IPO, while UiPath has risen a further 10% on its closing price from the opening day. Blue Prism now stands 15% below the level of its £100mln fundraising which it conducted in April 2020 at 1,100p, and now has a market capitalisation of around £870mln. This means that UiPath’s market capitalisation is more than 30x that of Blue Prism’s.

UiPath is seen as the clear leader in industry analyses from the likes of Gartner and Forrester while Blue Prism has fared well in the analyses, which include names such as Automation Anywhere, Microsoft, NICE and WorkFusion; however, we note that Blue Prism has been criticised by some analysts for spending too little on research and development and there are concerns it has been losing its position. Blue Prism spent £17.7mln, or 12.5% of sales on research & development (R&D) in the year ended October 2020 which compares with US$109.9mln, or 18.1% of sales, for UiPath in the year ended January 2021. Blue Prism launched its Version 7 at its Blue Prism World 2021 event late last month. Nevertheless, the valuation disparity could be excessive, as Blue Prism trades on a relatively modest 5x this year’s revenues (simple market capitalisation divided by revenues) compared with more than 60x historic sales for UiPath, for the year ended January. Blue Prism reports its interim results on Thursday next week.

Meanwhile, Apple is holding its annual Worldwide Developers Conference (WWDC) today, starting with a keynote address from Apple chief executive Tim Cook.

DateCompanyEventPeriod ending
15-JunCML MicrosystemsFinal results31-Mar
15-JunFinal results31-Mar
15-JunIDOXInterim results30-Apr
15-JunKin + CartaVirtual capital markets day
15-JunIomartFinal results31-Mar
17-JunTribalVirtual capital markets day
17-JunBlue Prism Interim results30-Apr
Week of 14/6SEEENFinal results31-Dec
21-JunSysgroupFinal results31-Mar
24-JunAlpha FMCFinal results31-Mar
24-JunRedcentricFinal results31-Mar
29-JunD4T4Final results31-Mar
30-JunImmotionAGM trading update 
JuneTrackwiseFinal results31-Mar
JuneOsiriumFinal results31-Dec
JuneIntercedeFinal results31-Mar
JuneNapsterFinal results31-Mar
JuneEckohFinal results31-Mar
01-JulMicro FocusInterim results30-Apr
01-JulAVEVAVirtual capital markets day
05-JulPanoplyFinal results31-Mar
06-JulOcadoInterim results31-May
08-JulBangoOnsite capital markets day
Early JulyAdEPT TechnologyFinal results31-Mar
Early JulyQuartixTrading update30-Jun
13-JulFinal results31-Mar
Approx 22/7IdeagenFinal results30-Apr
28-JulFDMInterim results30-Jun
29-JulSRT MarineFinal results31-Mar
JulyAccess IntelligenceInterim results31-May
JulyShearwaterFinal results31-Mar
July H2OTAQFinal results31-Mar
Late summerGRCFinal results31-Mar

 Source: Data from regulatory news and company websites


Read More: Focus on UiPath Inc results ahead of Blue Prism Group PLC interims

2021-06-07 03:50:00

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