Company: PATH
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001734722-25-000050
Chunk: 142

Company: UiPath, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 the nine months ended October 31, 2024, primarily due to a $17.5 million decrease in accretion of net discounts on marketable securities, an $8.4 million increase in losses from foreign currency transactions, and a $5.2 million increase in legal expense related to shareholder litigation.

Benefit From Income Taxes

 Nine Months Ended October 31,   20252024ChangeChange % (dollars in thousands)Benefit from income taxes$(169,677)$(7,236)$(162,441)NM(1)Percentage of revenue(15)%(1)%  (1) Not meaningful

Benefit from income taxes increased by $162.4 million for the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024, mainly driven by release of valuation allowance associated with our U.S. federal and New York City and State DTAs, as well period-over-period change in the proportion of operating profits realized across jurisdictions.

Liquidity and Capital Resources

As of October 31, 2025, our principal sources of liquidity were cash, cash equivalents, and marketable securities totaling $1,519.8 million, and we had an accumulated deficit of $1,810.0 million. For the nine months ended October 31, 2025, we reported net income of $177.9 million and net cash provided by operating activities of $188.9 million. Cash generated by our operations in recent periods has principally been used to fund working capital requirements such as personnel and facilities costs, invest in capital expenditures, engage in various business and asset acquisitions, and repurchase shares of our Class A common stock.

Our future capital requirements will depend on many factors, including our revenue growth rate, sales of our products and services, license renewal activity, the timing and the amount of cash received from customers, the expansion of sales and marketing activities, the timing and extent of spending to support development efforts, the introduction of new and enhanced products, the continuing market adoption of our products, expenses associated with international expansion, the timing and extent of capital expenditures to invest in existing and new office spaces, and the timing and extent of stock repurchases. We may in the future enter into arrangements to acquire or invest in complementary businesses or assets. We may be required to seek additional equity or debt financing. In 

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the event that we require additional financing, we may not be able to raise such financing on terms