Company: PATH
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001734722-25-000030
Chunk: 52

Company: UiPath, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 our finance, legal, human resources, compliance, and other administrative 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.

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Other (Expense) Income, Net

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

Provision For Income Taxes

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 April 30, 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 tables set forth selected condensed consolidated statement of operations data and such data as a percentage of total revenue for each of the periods indicated: Three Months Ended April 30, 20252024 (in thousands)Revenue:  Licenses$128,286 $140,128 Subscription services217,303 185,131 Professional services and other11,035 9,853 Total revenue356,624 335,112 Cost of revenue:Licenses (1)1,268 2,601 Subscription services (1)(2)(3)(4)38,468 36,754 Professional services and other (2)(3)24,121 15,970 Total cost of revenue63,857 55,325 Gross profit292,767 279,787 Operating expenses:Sales and marketing (1)(2)(3)(4)159,661 180,139 Research and development (2)(3)(4)94,839 85,603 General and administrative (1)(2)(3)(4)54,679 63,510 Total operating expenses309,179 329,252