Name: UiPath, Inc. Goodwill & Intangibles Disclosure
Creator: UiPath, Inc.
License: https://creativecommons.org/publicdomain/mark/1.0/


7			Intangible Assets and Goodwill

Intangible Assets, Net

Intangible assets, net consisted of the following as of January 31, 2025 (dollars in thousands):


	Intangible Assets, Gross		Accumulated Amortization		Intangible Assets, Net		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	28,130	$	(21,416)	$	6,714	2.2
Customer relationships	8,183		(7,648)		535		0.5
Trade names and trademarks	271		(271)		—		0.0
Other intangibles	1,231		(575)		656		6.4
Total	$	37,815	$	(29,910)	$	7,905

Intangible assets, net consisted of the following as of January 31, 2024 (dollars in thousands):


	Intangible Assets, Gross		Accumulated Amortization		Intangible Assets, Net		Weighted-Average Remaining Useful Life (Years)
Developed technology	$	28,807	$	(16,881)	$	11,926	2.8
Customer relationships	8,266		(6,306)		1,960		1.3
Trade names and trademarks	272		(266)		6		0.2
Other intangibles	1,231		(419)		812		7.0
Total	$	38,576	$	(23,872)	$	14,704

We record amortization expense associated with acquired developed technology in cost of licenses revenue and cost of subscription services revenue, trade names and trademarks in sales and marketing expense, customer relationships in sales and marketing expense, and other intangibles in general and administrative expense in the consolidated statements of operations. Amortization of acquired intangible assets was $6.7 million, $8.6 million and $6.9 million for fiscal years 2025, 2024, and 2023, respectively.

Expected future amortization expense related to intangible assets was as follows as of January 31, 2025 (in thousands):


Year Ended January 31,	Amount
2026	$	4,053
2027	2,407
2028	1,143
2029	101
2030	62
Thereafter	139
Total	$	7,905

Goodwill

Changes in the carrying amount of goodwill were as follows during the periods presented (in thousands):


	Carrying Amount
Balance as of January 31, 2023	$	88,010
Effect of foreign currency translation	1,016
Balance as of January 31, 2024	89,026
Effect of foreign currency translation	(1,722)
Balance as of January 31, 2025	$	87,304

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About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

UiPath, Inc. Goodwill & Intangibles Disclosure

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