Robotic process automation (RPA) giant UiPath is taking a hit on Wall Street despite its recent acquisition of Re:infer, a natural language processing (NLP) company. The company’s stock has fallen 14% over the past 5 days, and 37% in the last month.

For comparison, one year ago on Sept. 8, 2021, the company’s stock price sat at $43.84. As of today at 2:30 p.m. ET, shares have fallen 68.4% to $13.84.

UiPath acquired Re:infer on Aug. 1 with the goal of bringing communications-mining capabilities to its platform. Terms of that deal have not been disclosed.

“Organizations must address these forms of communication, as they are the main means customers use to engage with them,” Ted Kummert, executive vice president of products and engineering at UiPath told Bank Automation News when the acquisition was finalized. “Re:infer turns those messages and documents into actionable business data.”

The RPA company also entered a partnership with BMO Financial Group in June to assemble a digital workforce of bots in order to save labor hours at the BMO subsidiary. UiPath’s Q1 earnings call was described as “choppy,” with the company citing the war in Ukraine and macroeconomic environments as impacts for its decreased revenue.

Bank Automation News’ request for comment from UiPath was declined.

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