Company: PATH
Filing Date: 2025-09-08
Form Type: 10-Q
Source: 0001734722-25-000043
Chunk: 120

Company: UiPath, Inc.
Filing Date: 2025-09-08
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 months ended July 31, 2025, we granted 0.7 million PSUs subject to performance conditions related to the achievement of certain Company targets for fiscal year 2026, with a 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 July 31, 2025, total unrecognized compensation expense related to unvested PSUs expected to vest was approximately $6.3 million, which is expected to be recognized over a weighted-average remaining period of 2.7 years.Employee Stock Purchase Plan AwardsDuring the six months ended July 31, 2025, 0.8 million shares were purchased under the ESPP at $11.24 per share. As of July 31, 2025, total unrecognized compensation expense related to the ESPP was approximately $1.9 million, which is expected to be recognized over a weighted-average remaining period of 0.4 years.Stock-Based Compensation Associated with Business AcquisitionAt the closing of the acquisition of Re:infer LTD on July 29, 2022, we issued 0.4 million shares of Class A common stock (outside of the 2021 Plan) to be released to certain employee sellers in equal installments on the first, second, and third anniversaries of the closing date, subject to employment-related clawback provisions. As of July 31, 2025, there is no longer any unrecognized compensation expense related to these shares.Stock-Based Compensation ExpenseStock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands):Three Months Ended July 31,Six Months Ended July 31,2025202420252024Cost of subscription services revenue$3,682 $5,284 $7,556 $9,560 Cost of professional services and other revenue2,358 3,015 5,086 5,485 Sales and marketing23,402 37,473 46,988 73,689 Research and development36,087 32,654 70,682 61,796 General and administrative12,477 15,879 24,055 32,502 Total$78,006 $94,305 $154,367 $183