UiPath, Inc.PATH

UiPath, Inc. Revenue Disclosure

10-KFiled Mar 24, 20252 min read
3Revenue Recognition
Disaggregation of Revenue
The following table summarizes revenue by geographical region (dollars in thousands):
Year Ended January 31,
202520242023
AmountPercentage of
Revenue		AmountPercentage of
Revenue		AmountPercentage of
Revenue
Americas(1)
$695,053 49 %$631,923 48 %$529,060 50 %
Europe, Middle East, and Africa457,703 32 %415,915 32 %301,036 28 %
Asia-Pacific(2)
276,908 19 %260,234 20 %228,485 22 %
Total revenue$1,429,664 100 %$1,308,072 100 %$1,058,581 100 %
(1)Revenue from the U.S. represented 44%, 43%, and 46% of our total revenues for fiscal years 2025, 2024, and 2023, respectively.
(2)Revenue from Japan represented 9%, 9%, and 10% of our total revenues for fiscal years 2025, 2024, and 2023, 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 Assets20252024
Beginning balance$90,411 $75,783 
Contract assets recognized during the year88,862 84,180 
Amounts transferred to accounts receivable from unbilled accounts receivable presented at the beginning of the year(84,197)(69,260)
Translation adjustments(2,894)(292)
Ending balance$92,182 $90,411 
Contract assets, current$88,735 $84,197 
Contract assets, non-current3,447 6,214 
Total contract assets$92,182 $90,411 
Year Ended January 31,
Deferred Revenue20252024
Beginning balance$647,832 $520,031 
Additions to deferred revenue during the year1,410,482 1,364,473 
Revenue recognized that was included in deferred revenue at the beginning of the period(486,805)(398,334)
Revenue recognized that was not included in deferred revenue at the beginning of the period(855,330)(828,668)
Translation adjustments(10,872)(9,670)
Ending balance$705,307 $647,832 
Deferred revenue, current$569,464 $486,805 
Deferred revenue, non-current135,843 161,027 
Total deferred revenue$705,307 $647,832 
Remaining Performance Obligations
Our remaining performance obligations are comprised of licenses, subscription services, and professional services not yet delivered. As of January 31, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,242.6 million, which consists of $705.3 million of billed consideration and $537.3 million of unbilled consideration. We expect to recognize 65% 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,
20252024
Beginning balance$228,995 $187,503 
Additions to deferred contract acquisition costs89,124 118,844 
Amortization of deferred contract acquisition costs(92,089)(75,471)
Translation adjustments(4,228)(1,881)
Ending balance$221,802 $228,995 
Deferred contract acquisition costs, current$82,461 $74,678 
Deferred contract acquisition costs, non-current139,341 154,317 
Total deferred contract acquisition costs$221,802 $228,995 
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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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