Company: PATH
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001734722-25-000050
Chunk: 97

Company: UiPath, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 potential payout ranging from 0% to 150% of the base number of PSUs awarded (with some PSUs having a maximum payout of 150% and others having a maximum payout of 125%). To the extent that they are earned, these PSUs will vest over three years from the grant date.As of October 31, 2025, total unrecognized compensation expense related to unvested PSUs expected to vest was approximately $6.2 million, which is expected to be recognized over a weighted-average remaining period of 2.4 years.Employee Stock Purchase Plan AwardsDuring the nine months ended October 31, 2025, 0.8 million shares were purchased under the ESPP at $11.24 per share. As of October 31, 2025, total unrecognized compensation expense related to the ESPP was approximately $0.6 million, which is expected to be recognized over a weighted-average remaining period of 0.1 years.Stock-Based Compensation ExpenseStock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands):Three Months Ended October 31,Nine Months Ended October 31,2025202420252024Cost of subscription services revenue$3,317 $5,041 $10,873 $14,601 Cost of professional services and other revenue2,359 2,953 7,445 8,438 Sales and marketing21,589 32,688 68,577 106,377 Research and development32,249 34,211 102,931 96,007 General and administrative11,961 12,595 36,016 45,097 Total$71,475 $87,488 $225,842 $270,520 

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Table of ContentsUiPath, Inc.Notes to Condensed Consolidated Financial Statements (Continued)(unaudited)

13. Income Taxes

Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in the applicable quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate may change due to several factors, including the relative amount of income we earn in various jurisdictions and certain book-tax differences.For the three and nine months ended October 31, 2025, we had a benefit from income taxes of $174.2 million and $169.7 million,