Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 196

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 196
---
 impairment.As of January 31, 2025, other assets, non-current also included $11.9 million related to private-company convertible bonds, which are carried at fair value. Refer to Note 5, Fair Value Measurement for further information.

101

UiPath, Inc.Notes to Consolidated Financial Statements 

Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):As of January 31,20252024Accrued expenses$19,810 $13,414 Withholding tax from employee equity transactions4,699 3,277 Employee stock purchase plan withholdings3,335 3,618 Payroll taxes and other benefits payable8,258 3,888 Income tax payable1,632 7,140 Value-added taxes payable3,640 6,480 Operating lease liabilities, current3,587 8,357 Deferred consideration for business acquisition, current— 5,570 Rebates payable to partners13,314 7,289 Cloud infrastructure liabilities(1)6,685 5,044 Other18,963 19,920 Accrued expenses and other current liabilities$83,923 $83,997 (1) Prior period amounts have been expanded to conform to current period presentation

10Credit FacilityOn October 30, 2020 we entered into the Credit Facility, a $200 million senior secured revolving credit facility with a maturity date of October 30, 2023, with HSBC Ventures USA Inc., Silicon Valley Bank, a division of First Citizens Bank & Trust Company (successor by purchase to the FDIC as receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)), Sumitomo Mitsui Banking Corporation, and Mizuho Bank, LTD. The Credit Facility contained certain customary covenants, including, but not limited to, those relating to additional indebtedness, liens, asset divestitures, and affiliate transactions.We did not borrow under the Credit Facility at any time. In September 2023, we and the lenders terminated the Credit Facility prior to its original maturity date.

11Commitments and ContingenciesLetters of CreditWe had a total of $2.6 million in letters of credit outstanding predominantly in favor of certain landlords for office space as of January 31, 2025 and 2024. These letters of credit renew annually and expire on various dates through fiscal year 202