Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 146

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 146
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 teams, as well as accounting and legal professional services fees, other corporate-related expenses, and allocated overhead. We expect that over the longer term our general and administrative expenses will decrease as a percentage of revenue, although this percentage may fluctuate from period to period due to timing and extent of expenses.

Interest Income

Interest income consists of interest earned on our cash and cash equivalents and marketable securities.

Other Income, Net

Other income, net primarily consists of foreign exchange gains and losses. Other income, net also includes accretion of discounts and premiums on marketable securities.

(Benefit From) Provision For Income Taxes

(Benefit from) provision for income taxes consists of U.S. federal and state income taxes and income taxes in foreign jurisdictions in which we conduct business. We currently maintain a full valuation allowance on our U.S. federal and state and Romania DTAs, as we have concluded as of January 31, 2025 that it is more likely than not that these DTAs will not be realized. Our effective tax rate is affected by tax rates in foreign jurisdictions and the relative amounts of income we earn in those jurisdictions, as well as by non-deductible expenses as permanent differences, and by changes in our valuation allowances.

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Results of Operations

The following table sets forth selected consolidated statement of operations data for each of the periods indicated (in thousands):

Year Ended January 31,20252024Revenue:Licenses$587,162 $621,392 Subscription services801,947 649,918 Professional services and other40,555 36,762 Total revenue1,429,664 1,308,072 Cost of revenue:Licenses (1)8,565 10,469 Subscription services (1)(2)(3)(4)167,630 111,922 Professional services and other (2)(3)(4)70,747 73,533 Total cost of revenue246,942 195,924 Gross profit1,182,722 1,112,148 Operating expenses:Sales and marketing(1)(2)(3)(4)738,493 713,130 Research and development(2)(3)(4)380,682 332,101 General and administrative(1)(2)(3)(4)226,116 231,637 Total operating expenses1,345,291 1,276,868 Operating loss(162,569)(164,720)Interest income49,422 57