Company: PATH
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001734722-25-000007
Chunk: 110

Company: UiPath, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 8
Chunk 110
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6)%(3.4)%Significant components of DTAs and DTLs are as follows as of the periods presented (in thousands):As of January 31,20252024Deferred tax assets:Net operating loss carryforwards$317,489 $344,067 Accruals and reserves12,643 15,823 Stock-based compensation6,512 11,888 Deferred revenue29,376 25,942 Research and development90,110 103,263 Depreciation and amortization1,459 587 Lease liabilities8,255 11,563 Other6,428 5,602 Total deferred tax assets, gross472,272 518,735 Less: valuation allowance(406,251)(470,040)Total deferred tax assets, net of valuation allowance66,021 48,695 Deferred tax liabilities:Intangible assets(1,431)(2,409)Foreign exchange(34)(37)Right-of-use assets(5,728)(8,957)Commissions(30,871)(32,747)Other(3,791)— Total deferred tax liabilities(41,855)(44,150)Net deferred tax assets$24,166 $4,545 Net deferred tax assets$27,963 $4,678 Net deferred tax liabilities (included in other liabilities, non-current)(3,797)(133)Net deferred tax assets$24,166 $4,545 

111

UiPath, Inc.Notes to Consolidated Financial Statements 

The table below details our DTA valuation allowances and the changes therein for the periods presented (in thousands):BeginningBalanceAdditions During the PeriodReductions During the PeriodEndingBalanceYear ended January 31, 2025$470,040 $17,314 $(81,103)$406,251 Year ended January 31, 2024$476,589 $5,474 $(12,023)$470,040 For fiscal year 2025, we recorded a net decrease in valuation allowance of $63.8 million, which consists of a valuation allowance release of $24.7 million related to our U.K. entity, based on our reassessment of the amount of the U.K. DTAs that are more likely than not to be realized, and a net decrease of $39.1 million related to a decrease in net DTAs associated with our U.S., Romania, and U.K. entities