UiPath’s PATH customer momentum can be read through one especially revealing measure: the number of customers generating at least $1 million in annualized renewal run-rate. That group rises from 320 in 2Q 2026 to 387 in 2Q 2027, an increase of 67 customers, or about 21%.
That expansion matters because it shows UiPath is not merely adding accounts at the lower end of its large-customer base. It is moving more relationships into a substantially higher-value tier. The broader cohort of customers with at least $100,000 in ARR increases from 2,432 to 2,666 over the same period, adding 234 customers, or roughly 10%.
The contrast between the two growth rates is the key signal. Million-dollar customers expanded about twice as fast as the wider large-customer group. Their share of customers above $100,000 consequently rose from approximately 13.2% to 14.5%. That suggests stronger penetration among important accounts and supports UiPath’s framing that automation is moving higher on the senior executive agenda.
The clearest takeaway is therefore straightforward: the 21% rise in million-dollar customers is the standout indicator, because it points to deeper enterprise adoption rather than customer growth alone over time across the customer base during the period shown here.
Peer Lens
Pegasystems PEGA remains an important competitor in enterprise workflow automation and AI-powered business process management. Like UiPath, Pegasystems is expanding its AI capabilities, although its platform places greater emphasis on customer engagement, CRM and decision intelligence. PEGA’s established position among large enterprises makes it a relevant benchmark for evaluating PATH’s progress in process automation.
ServiceNow NOW is also benefiting from rising enterprise demand for workflow automation and AI integration. Although ServiceNow’s core strength lies in enterprise service management, the company continues to expand into intelligent workflow orchestration and AI-enabled automation. NOW’s scale, broad product portfolio and extensive enterprise relationships make it one of UiPath’s most formidable competitors.
UiPath’s steady ARR expansion reinforces the durability of its recurring-revenue model and suggests that enterprise demand for automation remains intact. The discounted valuation strengthens the long-term opportunity, but sustained execution will be essential as PATH competes with Pegasystems and ServiceNow for a larger share of enterprise AI and workflow spending.
PATH’s Price Performance, Estimates
The stock has declined 11% year to date against the industry’s 3% rise.
The Zacks Consensus Estimate for PATH’s fiscal 2027 earnings has declined over the past 30 days.
PATH currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).