Company: PATH
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001734722-25-000030
Chunk: 43

Company: UiPath, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 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.As of April 30, 2025, total unrecognized compensation expense related to unvested PSUs expected to vest was approximately $4.0 million, which is expected to be recognized over a weighted-average remaining period of 2.9 years.Employee Stock Purchase Plan AwardsAs of April 30, 2025, total unrecognized compensation expense related to the ESPP was approximately $0.7 million, which is expected to be recognized over a weighted-average remaining period of 0.1 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 April 30, 2025, total unrecognized compensation expense related to these shares was $0.6 million, which is expected to be recognized over a weighted-average remaining period of 0.2 years.Stock-Based Compensation ExpenseStock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands):Three Months Ended April 30,20252024Cost of subscription services revenue$3,874 $4,276 Cost of professional services and other revenue2,728 2,470 Sales and marketing23,586 36,216 Research and development34,595 29,142 General and administrative11,578 16,623 Total$76,361 $88,727 

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.We had a provision for income taxes of $2.8 million, reflecting an effective tax rate of (14.3)%, and $3.8 million, reflecting