Company: PATH
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001734722-25-000043
Chunk: 88

Company: UiPath, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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35

Other income, net increased by $3.8 million, or 49%, for the three months ended July 31, 2025 compared to the three months ended July 31, 2024, primarily due to a $9.5 million increase in gains from foreign currency transactions partially offset by a $5.9 million decrease in accretion of net discounts on marketable securities.

Provision For Income Taxes

 Three Months Ended July 31,   20252024ChangeChange % (dollars in thousands)Provision for income taxes$1,743 $3,828 $(2,085)(54)%Percentage of revenue— %1 %  

Provision for income taxes decreased by $2.1 million, or 54%, for the three months ended July 31, 2025 compared to the three months ended July 31, 2024, mainly driven by period-over-period change in the proportion of operating profits realized across jurisdictions.

Comparison of the Six Months Ended July 31, 2025 and July 31, 2024

Revenue

Six Months Ended July 31,20252024ChangeChange %(dollars in thousands)Licenses$240,447 $252,379 $(11,932)(5)%Subscription services455,666 379,804 75,862 20 %Professional services and other22,239 19,182 3,057 16 %Total revenue$718,352 $651,365 $66,987 10 %

Total revenue increased by $67.0 million, or 10%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024, due to a $75.9 million increase in subscription services revenue and a $3.1 million increase in professional services and other revenue, partially offset by an $11.9 million decrease in licenses revenue related in part to the transition to our Flex Offerings. Total revenue grew across all geographical regions. Of the growth in total revenue, 30% was attributable to new customers and 70% was attributable to existing customers. Subscription services revenue is recognized ratably over the subscription term; therefore, the increase in subscription services revenue is driven by both sales in prior periods for which we continue to provide maintenance and support and SaaS, and by new sales in the current period.

Cost of Revenue and Gross Margin

 Six Months Ended July 31