Company: PATH
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001734722-25-000050
Chunk: 71

Company: UiPath, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 expenditures, partially offset by $1,176.8 million in maturities of marketable securities.

39

Financing Activities

Net cash used in financing activities for the nine months ended October 31, 2025 of $358.0 million was driven by $329.1 million in repurchases of Class A common stock under our stock repurchase program and $41.7 million in payments of tax withholdings on settlement of equity awards, partially offset by $11.9 million in proceeds from ESPP contributions and $1.0 million in proceeds from exercise of stock options.

Net cash used in financing activities for the nine months ended October 31, 2024 of $433.5 million was driven by $381.4 million in repurchases of Class A common stock under our stock repurchase program, $60.4 million in payments of tax withholdings on settlement of equity awards, and $5.6 million in deferred cash consideration paid on the second anniversary of the acquisition of Re:infer LTD, partially offset by $12.9 million in proceeds from ESPP contributions and $0.9 million in proceeds from exercise of stock options. 

Material Cash Requirements

Our material cash requirements predominantly relate to working capital requirements, including employee compensation, payment of employee tax withholdings on net settlement of equity awards, and material contractual obligations, including leases and purchase commitments.

As of October 31, 2025, accrued compensation and benefits of $88.6 million are included in current liabilities on our condensed consolidated balance sheet. Refer to Note 9, Condensed Consolidated Balance Sheet Components—Accrued Expenses and Other Current Liabilities for details of additional short-term payroll-related obligations included in accrued expenses and other current liabilities.

Refer to Note 8, Operating Leases for more detailed information regarding timing of future lease payments, and Note 10, Commitments and Contingencies—Non-Cancelable Purchase Obligations for more detailed information regarding timing of purchase commitments with terms of 12 months or longer. During the nine months ended October 31, 2025, we entered into a purchase commitment for hosting services for $199.8 million. There were no other significant changes from the contractual obligations disclosed in the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” set forth in the 2025 Form 10-K.

Our stock repurchase program may also represent a material use of cash depending upon the number of shares repurchased, which is ultimately discretionary. Refer to Note 11