Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 230

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 230
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Total revenue100 %100 %Cost of revenue:Licenses— %1 %Subscription services12 %8 %Professional services and other5 %6 %Total cost of revenue17 %15 %Gross profit83 %85 %Operating expenses:Sales and marketing52 %55 %Research and development27 %25 %General and administrative15 %18 %Total operating expenses94 %98 %Operating loss(11)%(13)%Interest income3 %4 %Other income, net3 %3 %Loss before income taxes(5)%(6)%(Benefit from) provision for income taxes— %1 %Net loss(5)%(7)%

65

Comparison of Fiscal Year 2025 and Fiscal Year 2024

Revenue

Year Ended January 31,20252024Change% Change(dollars in thousands)Licenses$587,162 $621,392 $(34,230)(6)%Subscription services801,947 649,918 152,029 23 %Professional services and other40,555 36,762 3,793 10 %Total revenue$1,429,664 $1,308,072 $121,592 9 %

Total revenue increased by $121.6 million, or 9%, for fiscal year 2025 compared to fiscal year 2024, primarily due to a $152.0 million increase in subscription services revenue partially offset by a $34.2 million decrease in licenses revenue, related in part to the transition to our Flex Offerings. As we continued to expand our sales efforts in the U.S. and internationally, our revenue increased across all regions. Of the growth in total revenue, 24% was attributable to new customers and 76% was attributable to existing customers. Subscription services revenue is recognized ratably over the subscription term; therefore, the increase in subscription services revenue is driven both by sales in prior periods for which we continue to provide maintenance and support and SaaS and by new sales in the current period.

Cost of Revenue and Gross Margin

Year Ended January 31,20252024Change% Change(dollars in thousands)Licenses$8,565 $10,469 $(1,904)(18)%Subscription services167,630 111,922 55,708 50 %Professional services and other70