Company: PATH
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001734722-25-000030
Chunk: 93

Company: UiPath, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 on our U.S. federal and state and Romania DTAs, as we have concluded as of April 30, 2025 that it is more likely than not that these DTAs will not be realized. Our effective tax rate is affected by tax rates in foreign jurisdictions and the relative amounts of income we earn in those jurisdictions, as well as by non-deductible expenses as permanent differences, and by changes in our valuation allowances.

29

Results of Operations

The following tables set forth selected condensed consolidated statement of operations data and such data as a percentage of total revenue for each of the periods indicated: Three Months Ended April 30, 20252024 (in thousands)Revenue:  Licenses$128,286 $140,128 Subscription services217,303 185,131 Professional services and other11,035 9,853 Total revenue356,624 335,112 Cost of revenue:Licenses (1)1,268 2,601 Subscription services (1)(2)(3)(4)38,468 36,754 Professional services and other (2)(3)24,121 15,970 Total cost of revenue63,857 55,325 Gross profit292,767 279,787 Operating expenses:Sales and marketing (1)(2)(3)(4)159,661 180,139 Research and development (2)(3)(4)94,839 85,603 General and administrative (1)(2)(3)(4)54,679 63,510 Total operating expenses309,179 329,252 Operating loss(16,412)(49,465)Interest income12,648 13,830 Other (expense) income, net(15,964)10,679 Loss before income taxes(19,728)(24,956)Provision for income taxes2,827 3,780 Net loss$(22,555)$(28,736)(1) Includes amortization of acquired intangible assets as follows:Cost of licenses revenue$240 $844 Cost of subscription services revenue681 593 Sales and marketing456 552 General and administrative31 39 Total amortization of acquired intangible assets$1,408 $2,028 (2) Includes stock-based compensation expense as follows:Cost of subscription services revenue$3,874 $4,276 Cost of professional services and other revenue2,728 2,470