UiPath, Inc.PATH

UiPath, Inc. Revenue Disclosure

10-KFiled Mar 25, 20262 min read
03
Revenue Recognition
Disaggregation of Revenue
The following table summarizes revenue by geographical region (dollars in thousands):
Year Ended January 31,
202620252024
AmountPercentage of
Revenue		AmountPercentage of
Revenue		AmountPercentage of
Revenue
Americas(1)
$798,566 50 %$695,053 49 %$631,923 48 %
Europe, Middle East, and Africa527,752 33 %457,703 32 %415,915 32 %
Asia-Pacific284,254 17 %276,908 19 %260,234 20 %
Total revenue$1,610,572 100 %$1,429,664 100 %$1,308,072 100 %
(1)Revenue from the U.S. represented 46%, 44%, and 43% of our total revenues for fiscal years 2026, 2025, and 2024, respectively.
Contract Balances
Significant changes in our contract assets and deferred revenue balances during the periods presented were as follows (in thousands):
Year Ended January 31,
Contract Assets20262025
Beginning balance$92,182 $90,411 
Contract assets recognized during the year89,981 88,862 
Amounts transferred to accounts receivable from unbilled accounts receivable presented at the beginning of the year(88,735)(84,197)
Translation adjustments958 (2,894)
Ending balance$94,386 $92,182 
Contract assets, current92,440 88,735 
Contract assets, non-current1,946 3,447 
Total contract assets$94,386 $92,182 
Year Ended January 31,
Deferred Revenue20262025
Beginning balance$705,307 $647,832 
Additions to deferred revenue during the year1,518,136 1,410,482 
Additions to deferred revenue from business acquisitions3,332 — 
Revenue recognized that was included in deferred revenue at the beginning of the period(569,464)(486,805)
Revenue recognized that was not included in deferred revenue at the beginning of the period(954,541)(855,330)
Translation adjustments4,535 (10,872)
Ending balance$707,305 $705,307 
Deferred revenue, current603,737 569,464 
Deferred revenue, non-current103,568 135,843 
Total deferred revenue$707,305 $705,307 
Remaining Performance Obligations
Our remaining performance obligations are comprised of licenses, subscription services, and professional services not yet delivered. As of January 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,474.8 million, which consists of $707.3 million of billed consideration and $767.5 million of unbilled consideration. We expect to recognize 62% of our remaining performance obligations as revenue over the next twelve months, and the remainder thereafter.
Deferred Contract Acquisition Costs
Our deferred contract acquisition costs are comprised of sales commissions that represent incremental costs to obtain customer contracts, and are determined based on sales compensation plans. The following table represents a rollforward of our deferred contract acquisition costs (in thousands):
Year Ended January 31,
20262025
Beginning balance$221,802 $228,995 
Additions to deferred contract acquisition costs116,202 89,124 
Amortization of deferred contract acquisition costs(109,362)(92,089)
Translation adjustments9,805 (4,228)
Ending balance$238,447 $221,802 
Deferred contract acquisition costs, current84,739 82,461 
Deferred contract acquisition costs, non-current153,708 139,341 
Total deferred contract acquisition costs$238,447 $221,802 

Historical Timeline

Fiscal YearFiled
2026Mar 25, 2026Showing above
2025Mar 24, 2025
2024Mar 27, 2024
2023Mar 24, 2023
2022Apr 4, 2022

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

Other Available Disclosures

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