PATH

MKT CAP:$6B

UiPath Inc.

Market Cap

$6B

Technology·Software - Infrastructure·🇺🇸 United States·NYSE

Technology·Software Infra·🇺🇸·NYSE

Stock Price

$10.82-$5.06 (-31.83%)

Apr 21, 2026

Company Details

UiPath Inc. provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, and Japan. The company offers a suite of interrelated software to build, manag...

CEO

Daniel Solomon Dines

IPO Date

Apr 21, 2021

Website

www.uipath.com

Key Metrics TTM

Revenue

$1.6B

+12.7% YoY

Net Income

$282M

EPS (Diluted)

$0.52

Free Cash Flow

$352M

Revenue / Share

$2.95

Gross Margin

83.2%

Operating Margin

3.5%

Net Margin

17.5%

FCF Margin

21.9%

P/S

3.4x

P/E

19.6x

Earnings Reports

FY 2026

Mar 24, 2026

$1.6B+12.7%EPS $0.52

Q4 2026

Mar 24, 2026

$481M+13.6%EPS $0.19

Q3 2026

Dec 8, 2025

$411M+15.9%EPS $0.37

Q2 2026

Sep 8, 2025

$362M+14.4%EPS $0.00

Q1 2026

Jun 3, 2025

$357M+6.4%EPS -$0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 23	$245M	$200M	-$116M
Q2 23	$242M	$198M	-$120M
Q3 23	$263M	$220M	-$67M
Q4 23	$309M	$261M	-$45M
Q1 24	$290M	$246M	-$46M
Q2 24	$287M	$238M	-$78M
Q3 24	$326M	$276M	-$56M
Q4 24	$405M	$351M	$15M
Q1 25	$335M	$279M	-$49M
Q2 25	$316M	$253M	-$103M
Q3 25	$355M	$291M	-$43M
Q4 25	$424M	$359M	$34M
Q1 26	$357M	$293M	-$16M
Q2 26	$362M	$297M	-$20M
Q3 26	$411M	$342M	$13M
Q4 26	$481M	$408M	$80M

Valuation

Quarter	P/S	P/E
Q1 23	10.7x	—
Q2 23	10.3x	—
Q3 23	6.7x	—
Q4 23	7.6x	—
Q1 24	7.2x	—
Q2 24	8.9x	—
Q3 24	7.1x	—
Q4 24	10.5x	—
Q1 25	8.3x	—
Q2 25	5.1x	—
Q3 25	5.0x	—
Q4 25	5.5x	—
Q1 26	4.4x	—
Q2 26	4.5x	332.0x
Q3 26	5.5x	37.1x
Q4 26	4.2x	23.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$53M	-$63M
Q2 23	-$24M	-$30M
Q3 23	-$27M	-$33M
Q4 23	$94M	$92M
Q1 24	$67M	$65M
Q2 24	$44M	$43M
Q3 24	$42M	$41M
Q4 24	$146M	$142M
Q1 25	$100M	$99M
Q2 25	$46M	$45M
Q3 25	$28M	$23M
Q4 25	$146M	$139M
Q1 26	$119M	$106M
Q2 26	$42M	$42M
Q3 26	$28M	$25M
Q4 26	$182M	$179M

Capital Expenditures

Quarter	CapEx
Q1 23	$10M
Q2 23	$7M
Q3 23	$5M
Q4 23	$2M
Q1 24	$2M
Q2 24	$1M
Q3 24	$682.0K
Q4 24	$4M
Q1 25	$1M
Q2 25	$1M
Q3 25	$5M
Q4 25	$7M
Q1 26	$13M
Q2 26	$0
Q3 26	$3M
Q4 26	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+31.6%	-14.5%
Q2 23	+23.9%	+23.5%
Q3 23	+19.0%	-2.2%
Q4 23	+6.5%	+3.9%
Q1 24	+18.2%	-6.9%
Q2 24	+18.6%	+0.7%
Q3 24	+24.0%	+15.8%
Q4 24	+31.3%	+10.3%
Q1 25	+15.7%	+14.5%
Q2 25	+10.1%	+15.0%
Q3 25	+8.8%	+4.3%
Q4 25	+4.5%	-0.0%
Q1 26	+6.4%	-3.0%
Q2 26	+14.4%	-9.0%
Q3 26	+15.9%	+0.0%
Q4 26	+13.6%	+2.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$101M	41.4%
Q2 23	$88M	36.4%
Q3 23	$81M	30.9%
Q4 23	$99M	32.1%
Q1 24	$85M	29.4%
Q2 24	$102M	35.5%
Q3 24	$96M	29.4%
Q4 24	$89M	21.9%
Q1 25	$89M	26.5%
Q2 25	$94M	29.8%
Q3 25	$87M	24.7%
Q4 25	$88M	20.7%
Q1 26	$76M	21.4%
Q2 26	$78M	21.6%
Q3 26	$71M	17.4%
Q4 26	$65M	13.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$69M	$58M	$188M
Q2 23	$68M	$68M	$182M
Q3 23	$67M	$63M	$156M
Q4 23	$82M	$50M	$174M
Q1 24	$75M	$57M	$160M
Q2 24	$87M	$60M	$170M
Q3 24	$85M	$56M	$191M
Q4 24	$86M	$59M	$192M
Q1 25	$86M	$64M	$180M
Q2 25	$98M	$64M	$194M
Q3 25	$97M	$50M	$187M
Q4 25	$98M	$49M	$170M
Q1 26	$95M	—	$160M
Q2 26	$98M	$53M	$166M
Q3 26	$97M	$53M	$179M
Q4 26	$95M	$54M	$178M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	31.6%	-44.5%	-12.9
Q2 23	23.9%	-47.2%	-23.3
Q3 23	19.0%	-22.1%	-3.1
Q4 23	6.5%	-11.8%	-5.3
Q1 24	18.2%	-13.8%	4.4
Q2 24	18.6%	-24.5%	-5.9
Q3 24	24.0%	-15.5%	8.6
Q4 24	31.3%	4.7%	36.0
Q1 25	15.7%	-13.3%	2.4
Q2 25	10.1%	-31.2%	-21.2
Q3 25	8.8%	-10.9%	-2.1
Q4 25	4.5%	8.7%	13.2
Q1 26	6.4%	-3.7%	2.7
Q2 26	14.4%	-4.1%	10.3
Q3 26	15.9%	4.3%	20.2
Q4 26	13.6%	17.7%	31.3

Rule of 40

Revenue Segments

Quarter	License	Professional Services and Other	Subscription Services
Q1 23	$117M	$13M	$115M
Q2 23	$104M	$14M	$125M
Q3 23	$118M	$14M	$130M
Q4 23	$159M	$11M	$139M
Q3 24	$148M	$18M	$168M
Q1 25	$140M	$16M	$185M
Q2 25	$112M	$17M	$195M
Q3 25	$137M	$18M	$207M
Q4 25	$198M	$19M	$215M
Q1 26	$128M	$24M	$217M
Q2 26	$112M	$25M	$238M
Q3 26	$150M	$27M	$248M
Q4 26	$216M	$32M	$251M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea
Q1 23	$114M	$61M	$70M
Q2 23	$121M	$52M	$70M
Q3 23	$147M	$50M	$66M
Q4 23	$147M	$66M	$96M
Q1 24	$123M	$69M	$97M
Q2 24	$140M	$67M	$81M
Q3 24	$174M	$58M	$94M
Q4 24	$195M	$67M	$144M
Q1 25	$153M	$77M	$105M
Q2 25	$151M	$68M	$98M
Q3 25	$179M	$63M	$113M
Q4 25	$213M	$69M	$142M
Q1 26	$161M	$72M	$124M
Q2 26	$181M	$68M	$113M
Q3 26	$213M	$73M	$125M
Q4 26	$243M	$72M	$166M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$1.7B	$115M	$1.8B
Q2 23	$1.6B	$114M	$1.7B
Q3 23	$1.5B	$226M	$1.7B
Q4 23	$1.4B	$355M	$1.8B
Q1 24	$1.3B	$469M	$1.8B
Q2 24	$1.1B	$736M	$1.8B
Q3 24	$1.0B	$814M	$1.8B
Q4 24	$1.1B	$818M	$1.9B
Q1 25	$1.1B	$789M	$1.9B
Q2 25	$940M	$804M	$1.7B
Q3 25	$774M	$795M	$1.6B
Q4 25	$880M	$750M	$1.6B
Q1 26	$701M	$854M	$1.6B
Q2 26	$629M	$819M	$1.4B
Q3 26	$744M	$655M	$1.4B
Q4 26	$871M	$601M	$1.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 23	542M	+0.9%	+3.6%
Q2 23	546M	+0.8%	+3.7%
Q3 23	550M	+0.8%	+3.5%
Q4 23	554M	+0.7%	+3.1%
Q1 24	558M	+0.7%	+2.9%
Q2 24	563M	+0.9%	+3.1%
Q3 24	567M	+0.7%	+3.1%
Q4 24	583M	+2.8%	+5.3%
Q1 25	570M	-2.3%	+2.2%
Q2 25	568M	-0.3%	+0.9%
Q3 25	563M	-0.9%	-0.7%
Q4 25	555M	-1.3%	-4.8%
Q1 26	548M	-1.2%	-3.8%
Q2 26	543M	-1.0%	-4.4%
Q3 26	545M	+0.3%	-3.2%
Q4 26	545M	+0.1%	-1.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 23	$61.1K	4K
Q2 23	$60.4K	4K
Q3 23	$65.5K	4K
Q4 23	$80.5K	4K
Q1 24	$75.6K	4K
Q2 24	$75.0K	4K
Q3 24	$85.0K	4K
Q4 24	$100.4K	4K
Q1 25	$83.1K	4K
Q2 25	$78.4K	4K
Q3 25	$87.9K	4K
Q4 25	$109.5K	4K
Q1 26	$92.2K	4K
Q2 26	$93.5K	4K
Q3 26	$106.3K	4K
Q4 26	$120.9K	4K

Revenue / Employee