Company: PATH
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001734722-25-000043
Chunk: 96

Company: UiPath, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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expense), net on our condensed consolidated financial statements. We have from time to time used foreign currency forward contracts to reduce our potential exposure to currency fluctuations, but did not have foreign currency forward contracts during the six months ended July 31, 2025 and 2024. If we are not able to successfully mitigate the risks associated with currency fluctuations, our results of operations could be adversely affected. The estimated translation impact to our condensed consolidated financial statements of a hypothetical 10% change in foreign currency exchange rates would amount to $34.1 million for the six months ended July 31, 2025. For the six months ended July 31, 2025, approximately 52% of our revenues and approximately 40% of our expenses were denominated in non-U.S. dollar currencies, and we recognized net foreign currency transaction losses of $4.3 million.

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Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our disclosure controls and procedures, as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act, are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms. In addition, they are designed to ensure that such information is accumulated and communicated to our management, including our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") as appropriate to allow timely decisions regarding required disclosure.

Our management, with the participation of our CEO and CFO, performed an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective at a reasonable assurance level as of July 31, 2025.

Changes in Internal Control Over Financial Reporting

During the three months ended July 31, 2025, we completed the implementation of a new enterprise resource planning ("ERP") system. We have updated our processes and control activities to align with the new ERP system and will continue to assess and monitor the system to ensure effectiveness of internal control over financial reporting. Other than the ERP system implementation, no change in internal control over financial reporting was identified in connection with the evaluation required by Rule 13a-15(d) and Rule 15d-15(d) of the Exchange Act that has materially affected, or is reasonably likely to materially