Company: PATH
Filing Date: 2025-12-08
Form Type: 10-Q
Source: 0001734722-25-000050
Chunk: 65

Company: UiPath, Inc.
Filing Date: 2025-12-08
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 months ended October 31, 2024, driven by release of valuation allowance associated with our U.S. federal and New York City and State DTAs, as well period-over-period change in the proportion of operating profits realized across jurisdictions.

Comparison of the Nine Months Ended October 31, 2025 and October 31, 2024

Revenue

Nine Months Ended October 31,20252024ChangeChange %(dollars in thousands)Licenses$390,490 $389,553 $937 — %Subscription services703,239 586,726 116,513 20 %Professional services and other35,736 29,739 5,997 20 %Total revenue$1,129,465 $1,006,018 $123,447 12 %

Total revenue increased by $123.4 million, or 12%, for the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024, primarily due to a $116.5 million increase in subscription services revenue and a $6.0 million increase in professional services and other revenue. Total revenue grew across all geographical regions. Of the growth in total revenue, 19% was attributable to new customers and 81% was attributable to existing customers. Subscription services revenue is recognized ratably over the subscription term; therefore, the increase in subscription services revenue is driven by both 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

 Nine Months Ended October 31,   20252024ChangeChange % (dollars in thousands)Licenses$3,779 $7,334 $(3,555)(48)%Subscription services116,818 123,770 (6,952)(6)%Professional services and other76,452 51,304 25,148 49 %Total cost of revenue$197,049 $182,408 $14,641 8 %Gross margin83 %82 %  

Total cost of revenue increased by $14.6 million, or 8%, for the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024, due to a a $25.1 million increase in cost of professional services revenue, partially offset by a $7.0 million decrease in cost