UiPath, Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>UiPath, Inc. has filed its 2024 Form 10-K detailing its fiscal year operations and financial standing.</b>

AI Summary

UiPath, Inc. (PATH) filed a Annual Report (10-K) with the SEC on March 27, 2024. UiPath, Inc. filed its annual report on Form 10-K for the fiscal year ended January 31, 2024. The filing covers the period from February 1, 2023, to January 31, 2024. The company's principal executive offices are located at One Vanderbilt Avenue, New York, NY. UiPath, Inc. is incorporated in Delaware. The Standard Industrial Classification code for the company is 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking UiPath, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of UiPath's financial performance, business operations, and risk factors for the fiscal year 2024, which is crucial for investors to assess the company's current health and future prospects. The detailed financial statements and disclosures within the 10-K allow stakeholders to understand revenue streams, profitability, and any potential challenges the company may face, aiding in investment decisions.

Risk Assessment

Risk Level: — UiPath, Inc. shows moderate risk based on this filing. The company's reliance on subscription revenue and the competitive landscape in the automation software market present medium risks that could impact future financial performance.

Analyst Insight

Investors should review the detailed risk factors and financial performance sections of the 10-K to understand UiPath's strategic positioning and growth potential in the evolving automation market.

Revenue Breakdown

Key Numbers

• 2024-01-31 — Fiscal Year End (The end date of the reporting period)
• 2024-03-27 — Filing Date (The date the 10-K was filed)

Key Players & Entities

• UiPath, Inc. (company) — Filer of the 10-K
• New York (location) — Business address city
• Delaware (location) — State of incorporation
• 7372 (other) — Standard Industrial Classification code

FAQ

Industry Context

UiPath operates in the rapidly growing market for Robotic Process Automation (RPA) and broader enterprise automation software, competing with established tech giants and specialized software providers.

Regulatory Implications

As a publicly traded company, UiPath is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the detailed financial statements and management's discussion and analysis in the 10-K to understand revenue growth, profitability trends, and expense management.
2. Review the risk factors section to identify potential challenges and uncertainties that could impact UiPath's future performance, such as competition, technological changes, and economic conditions.
3. Assess the company's strategic initiatives and outlook for the upcoming fiscal year as presented in the filing to gauge future growth prospects.

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-03-27: Filing Date — Date the 10-K was officially submitted to the SEC

Year-Over-Year Comparison

This filing represents the annual 10-K for the fiscal year ended January 31, 2024, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.00001 — stered Class A common stock, par value $0.00001 per share PATH New York Stock Exchange
• $18.08 — 31, 2023, based on the closing price of $18.08 for shares of the Registrant's Class A
• $200.0 million — nes and Robert Enslin Credit Facility $200.0 million senior secured revolving credit with a

Filing Documents

• path-20240131.htm (10-K) — 2509KB
• path-20240131xlistofsubsid.htm (EX-21.1) — 20KB
• path-20240131xconsentxkpmg.htm (EX-23.1) — 2KB
• path-20240131xconsentxgt.htm (EX-23.2) — 2KB
• path-2024131x10kexx311.htm (EX-31.1) — 10KB
• path-2024131x10kexx312.htm (EX-31.2) — 10KB
• path-2024131x10kexx321.htm (EX-32.1) — 4KB
• path-2024131x10kexx322.htm (EX-32.2) — 4KB
• path-20240131xincentivecom.htm (EX-97) — 37KB
• path-20240131_g1.jpg (GRAPHIC) — 7KB
• path-20240131_g10.jpg (GRAPHIC) — 5KB
• path-20240131_g11.jpg (GRAPHIC) — 113KB
• path-20240131_g12.jpg (GRAPHIC) — 16KB
• path-20240131_g2.jpg (GRAPHIC) — 935KB
• path-20240131_g3.jpg (GRAPHIC) — 55KB
• path-20240131_g4.jpg (GRAPHIC) — 25KB
• path-20240131_g5.jpg (GRAPHIC) — 38KB
• path-20240131_g6.jpg (GRAPHIC) — 48KB
• path-20240131_g7.jpg (GRAPHIC) — 4KB
• path-20240131_g8.jpg (GRAPHIC) — 5KB
• path-20240131_g9.jpg (GRAPHIC) — 5KB
• 0001734722-24-000011.txt (&nbsp;) — 14773KB
• path-20240131.xsd (EX-101.SCH) — 71KB
• path-20240131_cal.xml (EX-101.CAL) — 129KB
• path-20240131_def.xml (EX-101.DEF) — 405KB
• path-20240131_lab.xml (EX-101.LAB) — 936KB
• path-20240131_pre.xml (EX-101.PRE) — 698KB
• path-20240131_htm.xml (XML) — 1754KB

Risk Factors

Item 1A. Risk Factors 18

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 55

Cybersecurity

Item 1C. Cybersecurity 55

Properties

Item 2. Properties 56

Legal Proceedings

Item 3. Legal Proceedings 57

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 57 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 58

[Reserved]

Item 6. [Reserved] 59

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 59

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 73

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 75

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 115

Controls and Procedure s

Item 9A. Controls and Procedure s 115

Other Information

Item 9B. Other Information 116

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 116 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 117

Executive Compensation

Item 11. Executive Compensation 117

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 117

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 117

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 117 PART IV

Exhibit s and Financial Statement Schedules

Item 15. Exhibit s and Financial Statement Schedules 118

Form 10-K Summary

Item 16. Form 10-K Summary 118

Signatures

Signatures 119 1 Table of Contents Defined Terms For the purposes of this Annual Report on Form 10-K, the terms "we," "us," "our," "UiPath," and "the Company," refer to UiPath, Inc. and its consolidated subsidiaries. Meanings of additional defined terms can be found below, in alphabetical order. Term Definition 2015 Plan 2015 Stock Plan 2018 Plan 2018 Stock Plan 2021 Plan 2021 Equity Incentive Plan 2023 Form 10-K Annual Report on Form 10-K for the fiscal year ended January 31, 2023, filed with the SEC on March 24, 2023 AI artificial intelligence API application programming interface ARR annualized renewal run-rate ASC Accounting Standards Codification ASU Accounting Standards Update BEPS Base Erosion and Profit Shifting BPM business process management CCPA California Consumer Privacy Act of 2018 CEO Effective February 1, 2024, Robert Enslin became sole Chief Executive Officer. CFO Chief Financial Officer, Ashim Gupta CISO Chief Information Security Officer Co-CEOs Co-Chief Executive Officers as of and for the fiscal year ended January 31, 2024, Daniel Dines and Robert Enslin Credit Facility $200.0 million senior secured revolving credit with a maturity date of October 30, 2023 CSRD Corporate Sustainability Reporting Directive (EU) Current Period ARR ARR as of January 31, 2024 from the cohort of all customers as of January 31, 2023 (used in calculation of dollar-based net retention rate) DEI diversity, equity, and inclusion Derivative Litigations Polilingua Limited v. Daniel Dines, et al. (Case No. 1:23-cv-08810) (E.D.N.Y.), In re UiPath, Inc. Stockholder Derivative Litigation (Case No. 1:23-cv-01385) (D. Del.), and Ristea v. Botteri et al. (Case No. 1:24-cv-00214) (S.D.N.Y.) DSA Digital Services Act DTAs deferred tax assets DTLs deferred tax liabilities EEA European Economic Arena ESG environmental, social, and governance ESPP 2021 Employee Stock Purchase Plan EU European Union Exchange Act Securities Exchange Act of 193

Business

Item 1. Business Overview First established in a Bucharest, Romania apartment in 2005, UiPath was incorporated in Delaware in 2015 as a company principally focused on building and managing automations and developing computer vision technology, which remains the foundation of our platform today. Since that time, we have evolved from our beginnings in RPA into an end-to-end AI-powered Business Automation Platform through development and acquisitions, have launched new products, and have expanded our operations across the globe. Our vision is to enable automation across all knowledge work to accelerate human achievement. We are leading a new era of workforce productivity, inspired by the rise of business automation platforms across enterprises everywhere. The UiPath Business Automation Platform is The Foundation of Innovation. We provide our customers with a robust set of capabilities that allow them to discover opportunities for automation, automate using a digital workforce that seamlessly collaborates with humans, and operate a mission critical automation program at scale. Our platform allows customers to integrate AI with automation, enabling automation to take action based on learning and experience. It enables employees to quickly build automations for both existing and new processes and to automate a vast array of actions including, but not limited to, logging into applications, extracting information from documents, moving folders, filling in forms, reading emails, and updating information fields and databases. The ability of our platform to replicate steps performed by humans in executing business processes drives operational efficiencies and enables companies to deliver on key digital initiatives with greater speed, agility, and accuracy. AI-powered automation is here, and its momentum is continuing to grow as organizations around the world begin to understand the combined power of automation and AI to drive efficiency and accelerate business outcomes. W

View Full Filing

View this 10-K filing on SEC EDGAR