UiPath(PATH) - 2026 Q2 - Quarterly Report

PART I. FINANCIAL INFORMATION Condensed Consolidated Balance Sheets The company's balance sheet reflects a decrease in total assets, driven by lower cash and accounts receivable, alongside an increase in goodwill from acquisitions Key Balance Sheet Data (Amounts in thousands) | Metric | July 31, 2025 | January 31, 2025 | | :------------------------------------------ | :-------------- | :--------------- | | Total Assets | $2,592,317 | $2,865,270 | | Cash and cash equivalents | $628,617 | $879,196 | | Accounts receivable, net | $269,810 | $451,131 | | Goodwill | $120,800 | $87,304 | | Total Liabilities | $926,614 | $1,019,508 | | Total Stockholders' Equity | $1,665,703 | $1,845,762 | Condensed Consolidated Statements of Operations The company achieved profitability in the recent quarter and significantly reduced its net loss for the six-month period, driven by revenue growth - Total revenue increased by 14% for the three months ended July 31, 2025, and by 10% for the six months ended July 31, 2025, compared to the respective prior year periods[18] Key Operations Data (Amounts in thousands, except per share data) | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :---------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total Revenue | $361,728 | $316,253 | $718,352 | $651,365 | | Operating Loss | $(20,185) | $(103,349) | $(36,597) | $(152,814) | | Net Income (Loss) | $1,584 | $(86,097) | $(20,971) | $(114,833) | | Net Income (Loss) per share, diluted | $0.00 | $(0.15) | $(0.04) | $(0.20) | Condensed Consolidated Statements of Comprehensive (Loss) Income Comprehensive income improved significantly year-over-year, reflecting a reduced net loss and positive impacts from other comprehensive income items Key Comprehensive Income Data (Amounts in thousands) | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income (loss) | $1,584 | $(86,097) | $(20,971) | $(114,833) | | Other comprehensive (loss) income, net | $(4,776) | $3,365 | $29,637 | $(720) | | Comprehensive (loss) income | $(3,192) | $(82,732) | $8,666 | $(115,553) | Condensed Consolidated Statements of Stockholders' Equity Stockholders' equity decreased due to substantial stock repurchases, which were partially offset by stock-based compensation and other comprehensive income - Accumulated other comprehensive income (loss) significantly increased from $(4,890)k as of January 31, 2025, to $24,747k as of July 31, 2025, primarily due to foreign currency translation adjustments[23][106] Key Stockholders' Equity Changes (Amounts in thousands) | Metric | Six Months Ended July 31, 2025 | | :------------------------------------ | :----------------------------- | | Balance as of January 31, 2025 | $1,845,762 | | Repurchase of Class A Common Stock | $(329,101) | | Stock-based compensation | $154,370 | | Other comprehensive income, net | $29,637 | | Net loss | $(20,971) | | Balance as of July 31, 2025 | $1,665,703 | Condensed Consolidated Statements of Cash Flows The company generated positive operating cash flow, but a net decrease in cash resulted from significant stock repurchases and business acquisition activities - Cash provided by operating activities increased by 9.7% year-over-year for the six months ended July 31, 2025[27] Key Cash Flow Data (Amounts in thousands) | Metric | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :------------------------------------ | :----------------------------- | :----------------------------- | | Net cash provided by operating activities | $160,589 | $146,413 | | Net cash used in investing activities | $(80,578) | $(5,893) | | Net cash used in financing activities | $(346,806) | $(260,887) | | Net decrease in cash, cash equivalents, and restricted cash | $(250,579) | $(122,365) | Note 1. Organization and Description of Business UiPath operates an intelligent platform that unifies AI agents, robots, and people to enable scalable, flexible, and compliant business automation - UiPath Platform™ unifies AI agents, robots, and people on a single intelligent system for scalable, flexible, and compliant automation[29] Note 2. Summary of Significant Accounting Policies The company's accounting policies, prepared under U.S. GAAP, remain consistent with the prior fiscal year and are managed as a single operating segment - Unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP and SEC interim reporting regulations, with no significant changes to policies from the 2025 Form 10-K[30][31] - The Chief Executive Officer (CODM) reviews financial information at the consolidated level, managing business activities as one operating and reportable segment[42] - The company is evaluating the impact of ASU No. 2023-09 (Income Tax Disclosures) and ASU No. 2024-03 (Expense Disaggregation Disclosures), effective for annual periods beginning after December 15, 2024, and December 15, 2026, respectively[45][46] Foreign Currency Transaction Gains (Losses) (Amounts in thousands) | Period | 2025 | 2024 | | :------------------------------------ | :----- | :----- | | Three Months Ended July 31, | $8,900 | $(600) | | Six Months Ended July 31, | $(4,300) | $2,200 | Note 3. Revenue Recognition Revenue growth was primarily driven by the Americas and EMEA regions, with the majority of remaining performance obligations expected to be recognized within 12 months - As of July 31, 2025, remaining performance obligations totaled $1,208.7 million, with 65% expected to be recognized as revenue over the next 12 months[51] - Amortization of deferred contract acquisition costs was $44.2 million for the six months ended July 31, 2025, up from $39.4 million in the prior year period[52] Revenue by Geographical Region (Three Months Ended July 31, Amounts in thousands) | Region | 2025 Amount | 2025 % of Revenue | 2024 Amount | 2024 % of Revenue | | :---------------------------- | :---------- | :---------------- | :---------- | :---------------- | | Americas | $181,081 | 50 % | $150,591 | 48 % | | Europe, Middle East, and Africa | $113,026 | 31 % | $97,989 | 31 % | | Asia-Pacific | $67,621 | 19 % | $67,673 | 21 % | | Total revenue | $361,728 | 100 % | $316,253 | 100 % | Revenue by Geographical Region (Six Months Ended July 31, Amounts in thousands) | Region | 2025 Amount | 2025 % of Revenue | 2024 Amount | 2024 % of Revenue | | :---------------------------- | :---------- | :---------------- | :---------- | :---------------- | | Americas | $342,488 | 48 % | $303,702 | 47 % | | Europe, Middle East, and Africa | $236,690 | 33 % | $202,616 | 31 % | | Asia-Pacific | $139,174 | 19 % | $145,047 | 22 % | | Total revenue | $718,352 | 100 % | $651,365 | 100 % | Note 4. Marketable Securities The company's marketable securities portfolio, primarily in U.S. government securities, holds minor unrealized losses attributed to market conditions rather than credit risk - Unrealized losses of $630k as of July 31, 2025, are primarily due to changes in market conditions and are not believed to be credit-related[54][56] Marketable Securities Summary (As of July 31, 2025, Amounts in thousands) | Type | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | | :-------------------------------- | :------------- | :--------------------- | :---------------------- | :------------------- | | Treasury bills and U.S. government securities | $792,532 | $— | $(539) | $791,993 | | Corporate bonds | $87,145 | $— | $(90) | $87,055 | | Commercial paper | $14,974 | $— | $(1) | $14,973 | | Total marketable securities | $894,651 | $— | $(630) | $894,021 | Note 5. Fair Value Measurement The majority of the company's financial assets are valued using observable market inputs (Level 1), with a smaller portion relying on unobservable inputs - Level 3 assets, such as convertible bonds of private companies and contingent consideration liability, rely on unobservable inputs for valuation[58] Fair Value Hierarchy of Financial Assets (As of July 31, 2025, Amounts in thousands) | Category | Level 1 | Level 2 | Level 3 | Total | | :-------------------------------- | :-------- | :-------- | :-------- | :-------- | | Money market funds | $183,542 | $— | $— | $183,542 | | Treasury bills and U.S. government securities | $791,993 | $— | $— | $791,993 | | Corporate bonds | $— | $87,055 | $— | $87,055 | | Commercial paper | $— | $14,973 | $— | $14,973 | | Other investments carried at fair value | $— | $— | $13,375 | $13,375 | | Total Financial Assets | $975,535 | $102,028 | $13,375 | $1,090,938 | Note 6. Business Acquisition The acquisition of Peak AI Limited for $40.1 million aims to integrate specialized technology and customer relationships, resulting in $28.0 million of goodwill - Acquired Peak AI Limited on March 7, 2025, for $40.1 million, consisting of $30.3 million initial cash and $9.8 million in deferred and contingent consideration[60][61] - The acquisition generated $28.0 million in goodwill, representing expected synergies and acquired skilled workforce[61] Identifiable Intangible Assets Acquired (Amounts in thousands) | Asset Type | Fair Value | Estimated Useful Life (years) | | :------------------------ | :--------- | :-------------------------- | | Customer relationships | $9,228 | 3.0 | | Developed technology | $6,447 | 5.0 | | Trade names and trademarks | $506 | 3.0 | | Total | $16,181 | | Note 7. Intangible Assets and Goodwill Goodwill increased substantially to $120.8 million due to the Peak AI acquisition, while net intangible assets stood at $21.6 million - Goodwill increased from $87.3 million as of January 31, 2025, to $120.8 million as of July 31, 2025, primarily due to the acquisition of Peak AI ($28.0 million) and foreign currency translation effects ($5.5 million)[65] - Amortization of acquired intangible assets was $3.7 million for the six months ended July 31, 2025[63] Intangible Assets, Net (As of July 31, 2025, Amounts in thousands) | Asset Type | Intangible Assets, Net | Weighted Average Remaining Useful Life (years) | | :------------------------ | :--------------------- | :--------------------------------------------- | | Developed technology | $11,724 | 3.3 | | Customer relationships | $8,813 | 2.6 | | Trade names and trademarks | $472 | 2.7 | | Other intangibles | $595 | 6.1 | | Total | $21,604 | | Note 8. Operating Leases The company's operating lease commitments for real estate and vehicles have increased, with total future undiscounted payments amounting to $110.8 million - As of July 31, 2025, the weighted-average remaining lease term is 9.6 years, and the weighted-average discount rate is 7.6%[67] - Total operating lease liabilities as of July 31, 2025, are $79.3 million, with future undiscounted payments totaling $110.8 million[67] Lease Costs (Amounts in thousands) | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :-------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Operating lease cost | $5,314 | $4,086 | $8,691 | $7,562 | | Short-term lease cost | $696 | $1,024 | $1,356 | $2,147 | | Variable lease cost | $711 | $411 | $1,649 | $934 | | Total | $6,721 | $5,521 | $11,696 | $10,643 | Note 9. Condensed Consolidated Balance Sheet Components Detailed balance sheet components show significant increases in other current assets, net property and equipment, and accrued liabilities Prepaid Expenses and Other Current Assets (Amounts in thousands) | Metric | July 31, 2025 | January 31, 2025 | | :-------------------------------- | :-------------- | :--------------- | | Prepaid expenses and service credits | $57,453 | $65,334 | | Other current assets | $52,938 | $20,942 | | Total | $110,391 | $86,276 | Property and Equipment, Net (Amounts in thousands) | Metric | July 31, 2025 | January 31, 2025 | | :------------------------ | :-------------- | :--------------- | | Property and equipment, gross | $84,471 | $72,400 | | Less: accumulated depreciation | $(42,926) | $(39,660) | | Property and equipment, net | $41,545 | $32,740 | Accrued Expenses and Other Current Liabilities (Amounts in thousands) | Metric | July 31, 2025 | January 31, 2025 | | :------------------------------------ | :-------------- | :--------------- | | Accrued expenses | $38,470 | $16,005 | | Deferred consideration for business acquisition | $8,000 | $— | | Contingent consideration for business acquisition | $1,545 | $— | | Total | $145,856 | $83,923 | Note 10. Commitments and Contingencies The company faces various commitments and contingencies, including ongoing litigation, significant tax audits, and non-cancelable purchase obligations - The Fiscal Year 2025 Workforce Restructuring was completed during the three months ended July 31, 2025, incurring $4.4 million in restructuring costs for the six-month period[80][81] - Ongoing litigation includes the 2023 Securities Action (claims of misstatements in 2021-2022, with some claims dismissed) and the 2024 Securities Action (claims of misstatements in 2023-2024, with the amended complaint dismissed but leave to refile)[84][86][88] - Tax audits include a $14.3 million VAT assessment paid and appealed in Romania, an estimated possible loss of $13.0 million for an ongoing Romanian VAT audit, and a preliminary inquiry for $45.6 million GST in India[92][94][95][96] - Non-cancelable purchase obligations totaled $356.2 million as of July 31, 2025, primarily for hosting services and software[99] Note 11. Stockholders' Equity Stockholders' equity activities were highlighted by an expanded stock repurchase program and a significant increase in accumulated other comprehensive income - The board authorized an additional $500.0 million for Class A common stock repurchases on August 30, 2024, bringing the total authorization to $1.0 billion[100] - The company repurchased 30.2 million shares of Class A common stock for $329.1 million during the six months ended July 31, 2025[103] - 5.0 million shares of Class B common stock beneficially owned by CEO Daniel Dines were converted into Class A common stock on March 13, 2025[105] Changes in Accumulated Other Comprehensive Income (Loss) (Six Months Ended July 31, Amounts in thousands) | Metric | 2025 | 2024 | | :------------------------------------ | :----- | :----- | | Balance as of January 31, | $(4,890) | $8,825 | | Other comprehensive income (loss), net of tax | $29,637 | $(720) | | Balance as of July 31, | $24,747 | $8,105 | Note 12. Equity Incentive Plans and Stock-Based Compensation The company recorded $154.4 million in stock-based compensation expense for the six-month period under its various equity incentive plans - As of July 31, 2025, 229.8 million shares of Class A common stock are reserved under the 2021 Plan, and 32.7 million shares under the ESPP[107][110] Unrecognized Stock-Based Compensation Expense (As of July 31, 2025, Amounts in thousands) | Award Type | Unrecognized Compensation Expense | Weighted-Average Remaining Period | | :------------------------------------ | :-------------------------------- | :------------------------------ | | Stock options | $70,000 | 1.9 years | | Restricted Stock Units (RSUs) | $349,700 | 2.2 years | | Performance Stock Units (PSUs) | $6,300 | 2.7 years | | Employee Stock Purchase Plan (ESPP) | $1,900 | 0.4 years | Total Stock-Based Compensation Expense by Function (Amounts in thousands) | Functional Area | Three Months Ended July 31, 2025 | Six Months Ended July 31, 2025 | | :------------------------------------ | :------------------------------- | :----------------------------- | | Cost of subscription services revenue | $3,682 | $7,556 | | Sales and marketing | $23,402 | $46,988 | | Research and development | $36,087 | $70,682 | | General and administrative | $12,477 | $24,055 | | Total | $78,006 | $154,367 | Note 13. Income Taxes The company maintains a full valuation allowance on U.S. and Romania deferred tax assets and is assessing the impact of new international tax regulations - A full valuation allowance is maintained on U.S. and Romania deferred tax assets, with a reasonable possibility of reversal within the next 6 to 18 months[126] - Gross unrecognized tax benefits totaled $1.6 million as of July 31, 2025, with a liability of $0.9 million[127] - The company anticipates a Qualified Domestic Minimum Top-up Tax (QDMTT) of $1.9 million in Romania for the current fiscal year due to OECD Pillar Two rules. The One Big Beautiful Bill Act (OBBBA) is not expected to have a significant impact on the consolidated tax position[130][133] Provision for Income Taxes and Effective Tax Rate | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Provision for income taxes | $1,743k | $3,828k | $4,570k | $7,608k | | Effective tax rate | 52.4% | (4.7)% | (27.9)% | (7.1)% | Note 14. Net Income (Loss) Per Share The company's diluted earnings per share improved to $0.00 for the quarter and showed a reduced loss per share for the six-month period Net Income (Loss) Per Share, Diluted | Metric | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | Six Months Ended July 31, 2025 | Six Months Ended July 31, 2024 | | :------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Class A common stock | $0.00 | $(0.15) | $(0.04) | $(0.20) | | Class B common stock | $0.00 | $(0.15) | $(0.04) | $(0.20) | Anti-Dilutive Common Stock Equivalents Excluded (Amounts in thousands) | Type | Three Months Ended July 31, 2025 | Six Months Ended July 31, 2025 | | :------------------------------------ | :------------------------------- | :----------------------------- | | Unvested RSUs | 10,610 | 27,239 | | Outstanding stock options | 2,198 | 8,870 | | Shares issuable under ESPP | 416 | 900 | | Total | 13,224 | 37,570 | Note 15. Related Party Transactions The company incurred expenses for the business use of an aircraft owned by its CEO, Daniel Dines - UiPath incurred $0.9 million in expenses for the business use of an aircraft owned by CEO Daniel Dines for the six months ended July 31, 2025, compared to none in the prior year period[137] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses the company's transition to an AI-powered platform, detailing revenue growth, improved margins, and key performance metrics like ARR Overview - UiPath has evolved from a Robotic Process Automation (RPA) tool to an AI-powered automation platform, unifying AI agents, robots, and people on a single intelligent system[140][141] - The Fiscal Year 2025 Workforce Restructuring was completed during the three months ended July 31, 2025, aimed at streamlining the organization and prioritizing AI investments[147] Business Highlights (Amounts in millions) | Metric | Three Months Ended July 31, 2025 | Six Months Ended July 31, 2025 | | :------------------------------------ | :------------------------------- | :----------------------------- | | Revenue | $361.7 (+14% YoY) | $718.4 (+10% YoY) | | ARR (as of July 31, 2025) | N/A | $1,723.4 (+11% YoY) | | Gross Margin | 82% (vs 80% in 2024) | 82% (vs 82% in 2024) | | Cash flow from operations | N/A | $160.6 (vs $146.4 in 2024) | Key Performance Metric - Annualized Renewal Run-rate (ARR) is the key performance metric used to measure the ability to acquire and expand relationships with subscription customers[149] - ARR growth of 11% was driven 26% by new customers and 74% by existing customers[149] ARR-Related Data (As of July 31, Amounts in thousands) | Metric | 2025 | 2024 | | :------------------------------------ | :----------- | :----------- | | ARR | $1,723,401 | $1,550,605 | | Incremental ARR (12 months ended) | $172,796 | $242,701 | | Customers with ARR ≥ $1 million | 320 | 293 | | Percent of current period revenue (ARR ≥ $1 million) | 47 % | 43 % | | Customers with ARR ≥ $100 thousand | 2,432 | 2,163 | | Percent of current period revenue (ARR ≥ $100 thousand) | 87 % | 83 % | | Dollar-based net retention rate | 108 % | 115 % | Components of Results of Operations - Revenue is derived from software licenses (point-in-time recognition), subscription services (ratable recognition for maintenance, support, and SaaS), and professional services (recognized as rendered)[152][154][155][156] - Cost of subscription services revenue is expected to increase in absolute dollars due to SaaS business growth and increased cloud-based deployments, potentially impacting gross margin due to higher hosting fees[158] - Sales and marketing and general and administrative expenses are expected to decrease as a percentage of revenue over the longer term, while research and development expenses are expected to increase in absolute dollars due to continued investment in new technology and platform enhancements[161][162][163] - The company maintains a full valuation allowance on U.S. federal and state and Romania deferred tax assets, with a reasonable possibility of reversal within 6 to 18 months[167] Results of Operations - Three Months Ended July 31, 2025 and 2024 - Gross margin increased to 82% from 80%, primarily driven by increased subscription services revenue and margin[172] - Sales and marketing expense decreased by $28.0 million (-14%), mainly due to a $30.7 million decrease in personnel-related expenses, including reduced stock-based compensation and salary expenses[173][174] - General and administrative expense decreased by $10.6 million (-17%), primarily due to a $6.2 million decrease in personnel-related expenses and reductions in other taxes and software costs[176] Revenue Comparison (Three Months Ended July 31, Amounts in thousands) | Revenue Type | 2025 | 2024 | Change | Change % | | :-------------------------- | :----- | :----- | :----- | :------- | | Licenses | $112,161 | $112,251 | $(90) | — % | | Subscription services | $238,363 | $194,673 | $43,690 | 22 % | | Professional services and other | $11,204 | $9,329 | $1,875 | 20 % | | Total revenue | $361,728 | $316,253 | $45,475 | 14 % | Results of Operations - Six Months Ended July 31, 2025 and 2024 - Gross margin remained relatively constant at 82%[184] - Sales and marketing expense decreased by $48.5 million (-13%), primarily due to a $51.9 million decrease in personnel-related expenses[185] - Research and development expense increased by $9.1 million (+5%), driven by a $15.1 million increase in personnel-related expenses, partially offset by decreased hosting and software services costs[186] - General and administrative expense decreased by $19.5 million (-15%), mainly due to an $11.4 million decrease in personnel-related expenses, a $4.4 million decrease in other taxes, and a $2.4 million decrease in charitable donations[187][188] Revenue Comparison (Six Months Ended July 31, Amounts in thousands) | Revenue Type | 2025 | 2024 | Change | Change % | | :-------------------------- | :----- | :----- | :----- | :------- | | Licenses | $240,447 | $252,379 | $(11,932) | (5)% | | Subscription services | $455,666 | $379,804 | $75,862 | 20 % | | Professional services and other | $22,239 | $19,182 | $3,057 | 16 % | | Total revenue | $718,352 | $651,365 | $66,987 | 10 % | Liquidity and Capital Resources - As of July 31, 2025, principal sources of liquidity included $1,522.6 million in cash, cash equivalents, and marketable securities[192] - Net cash used in financing activities was primarily driven by $329.1 million in repurchases of Class A common stock under the stock repurchase program[203] - Material cash requirements include working capital, employee compensation, tax withholdings, operating lease liabilities ($79.3 million total), and non-cancelable purchase commitments ($356.2 million)[205][207] - Management believes existing liquidity and customer payments will be sufficient to fund anticipated cash requirements for the next 12 months and the long term[195] Cash Flows Summary (Six Months Ended July 31, Amounts in thousands) | Activity | 2025 | 2024 | | :------------------------------------ | :----------- | :----------- | | Net cash provided by operating activities | $160,589 | $146,413 | | Net cash used in investing activities | $(80,578) | $(5,893) | | Net cash used in financing activities | $(346,806) | $(260,887) | Item 3. Quantitative and Qualitative Disclosures About Market Risk The company's exposure to interest rate and foreign currency exchange risks is not expected to have a material impact on its financial statements - A hypothetical 10% change in interest rates would not have a material impact on the condensed consolidated financial statements for the six months ended July 31, 2025[213] - For the six months ended July 31, 2025, approximately 52% of revenues and 40% of expenses were denominated in non-U.S. dollar currencies, resulting in net foreign currency transaction losses of $4.3 million[214] - A hypothetical 10% change in foreign currency exchange rates would amount to a $34.1 million translation impact for the six months ended July 31, 2025[214] Item 4. Controls and Procedures Management concluded that disclosure controls and procedures were effective, following the implementation of a new ERP system during the quarter - Disclosure controls and procedures were effective at a reasonable assurance level as of July 31, 2025[217] - A new ERP system was implemented during the three months ended July 31, 2025, leading to updated processes and control activities, with ongoing assessment for effectiveness[218] PART II. OTHER INFORMATION Item 1. Legal Proceedings This section refers to Note 10 for a detailed description of the company's current legal proceedings - Current legal proceedings are described in detail in Note 10, Commitments and Contingencies—Litigation[221] Item 1A. Risk Factors There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K - No material changes to the risk factors previously disclosed in the 2025 Form 10-K[223] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds The company reported no unregistered sales of equity securities and continued its stock repurchase program, with $180.3 million remaining available - No recent unregistered sales of equity securities[224] - As of July 31, 2025, approximately $180.3 million remained available for repurchase under the stock repurchase program[225] Class A Common Stock Repurchase Activity (Three Months Ended July 31, 2025, Amounts in thousands, except per share data) | Period | Total Number of Shares Purchased | Average Price Paid Per Share | | :----------- | :------------------------------- | :--------------------------- | | May 1 - 31 | — | $— | | June 1 - 30 | — | $— | | July 1 - 31 | 8,276 | $12.08 | | Total | 8,276 | | Item 3. Defaults Upon Senior Securities This section confirms that the company has not experienced any defaults upon senior securities - No defaults upon senior securities[227] Item 4. Mine Safety Disclosures This section states that mine safety disclosures are not applicable to the company's operations - Mine safety disclosures are not applicable[228] Item 5. Other Information This section discloses that several directors and officers adopted Rule 10b5-1 trading plans during the quarter - CFO Ashim Gupta adopted a Rule 10b5-1 trading plan on July 10, 2025, to sell up to 808,292 Class A shares through April 8, 2026[229] - CEO Daniel Dines, through IceVulcan Investments Limited, adopted a Rule 10b5-1 trading plan on July 11, 2025, to sell up to 5,000,000 Class A shares through April 17, 2026[229] - Chief Accounting Officer Hitesh Ramani adopted a Rule 10b5-1 trading plan on July 14, 2025, to sell up to 75,000 Class A shares through July 13, 2026[229] Item 6. Exhibits This section lists all exhibits filed with the quarterly report, including officer certifications and XBRL data files - Exhibits include CEO and CFO certifications (31.1, 31.2, 32.1, 32.2), XBRL Taxonomy Extension Documents (101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE), and the Cover Page Interactive Data File (104)[230] Signatures This section contains the official signature block confirming the report's submission by the Chief Financial Officer and Chief Operating Officer - The report is signed by Ashim Gupta, Chief Financial Officer and Chief Operating Officer, on behalf of UiPath, Inc[233]