Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 208

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 208
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 were subject to performance conditions related to the achievement of certain individual and company targets for fiscal year 2024, which were not met. As a result, the PSUs were cancelled and no expense was recognized.Employee Stock Purchase Plan AwardsThe fair value of ESPP awards was estimated using the Black-Scholes option pricing model with the following weighted-average assumptions:Year Ended January 31,202520242023Expected term (years)0.50.50.5Expected volatility63.0%67.4%69.0%Risk-free interest rate5.15%5.02%1.86%Expected dividend yield0.0%0.0%0.0%During fiscal year 2025, 1.6 million shares were purchased under the ESPP at a weighted average purchase price of $10.13 per share.As of January 31, 2025, unrecognized compensation expense related to the ESPP was approximately $2.4 million, to be recognized over a weighted-average remaining period of 0.4 years.

109

UiPath, Inc.Notes to Consolidated Financial Statements 

Stock-Based Compensation Associated with Business AcquisitionAt the closing of the acquisition of Re:infer 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 January 31, 2025, total unrecognized compensation expense related to these shares was $1.3 million, which is to be recognized over a weighted-average remaining period of 0.5 years.Stock-Based Compensation ExpenseStock-based compensation expense is classified in the consolidated statements of operations as follows (in thousands):Year Ended January 31,202520242023Cost of subscription services revenue$19,401 $14,750 $11,894 Cost of professional services and other revenue11,386 10,958 11,855 Sales and marketing134,646 144,863 154,922 Research and development132,757 117,965 102,546 General and administrative59,961 83,419 88,623 Total$358,151 $371,955 $369,840 

14Income TaxesThe U.S. and foreign components of loss before income taxes are as follows for the periods presented (in thousands):