UiPath (PATH) Q1 FY2025 earnings: revenue $335 million, up 15.7% on the year

UiPath, Inc. (PATH) reported revenue of $335 million for Q1 FY2025, the quarter ended 30 April 2024, up 15.7% on the same quarter a year earlier. Net income was -$29 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-Q it filed with the SEC on 3 June 2024.

Revenue$335 millionup 15.7%

Net income-$29 million

Diluted EPS$-0.05

QuarterQ1 FY2025ended 30 April 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Revenue	335	405	n/a	n/a
Cost of revenue	55.3	53.4	n/a	n/a
Gross profit	280	352	n/a	n/a
Gross margin	83.5%	86.8%	n/a
Research and development	85.6	85.6	n/a	n/a
Operating income	-49.5	15.1	n/a	n/a
Operating margin	-14.8%	3.7%	n/a
Pre-tax income	-25.0	36.6	n/a	n/a
Income tax	3.8	2.7	n/a	n/a
Effective tax rate	n/a	7.3%	n/a
Net income	-28.7	33.9	n/a	n/a
Net margin	-8.6%	8.4%	n/a
Diluted EPS	-$0.05	$0.06	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Operating cash flow	100	146	n/a	n/a
Capital expenditure	1.2	3.8	n/a	n/a
Free cash flow	98.8	142	n/a	n/a
Free cash flow margin	29.5%	35.0%	n/a
Cash from investing	35.8	-8.6	n/a	n/a
Cash from financing	-45.7	-81.9	n/a	n/a
Depreciation and amortisation	4.9	6.0	n/a	n/a
Share-based compensation	88.7	88.9	n/a	n/a
Buybacks	22.0	50.0	n/a	n/a
Diluted shares, weighted	570m	583m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Shareholders' equity	2,027	2,016	n/a	n/a
Debt	n/a	0.0	n/a	n/a
Operating lease liabilities	62.8	58.7	n/a	n/a
Other liabilities	755	880	n/a	n/a
Total liabilities and equity	2,845	2,955	n/a	n/a
Fixed assets	22.7	24.0	n/a	n/a
Goodwill	88.4	89.0	n/a	n/a
Intangible assets	12.6	14.7	n/a	n/a
Investments	790	818	n/a	n/a
Cash and equivalents	1,147	1,062	n/a	n/a
Receivables	271	436	n/a	n/a
Other assets	514	511	n/a	n/a
Total assets	2,845	2,955	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	326	405	335	316	355	424	357	362	411	481	418	410
Cost of revenue	49.9	53.4	55.3	63.3	63.8	64.5	63.9	64.4	68.8	73.9	76.9	80.6
Gross profit	276	352	280	253	291	359	293	297	342	407	341	330
Gross margin	85%	87%	83%	80%	82%	85%	82%	82%	83%	85%	82%	80%
R&D	84.5	85.6	85.6	98.4	97.0	99.7	94.8	98.3	96.9	95.2	92.9	83.4
Operating income	-55.8	15.1	-49.5	-103	-43.4	33.6	-16.4	-20.2	13.1	80.3	28.0	31.6
Operating margin	-17%	4%	-15%	-33%	-12%	8%	-5%	-6%	3%	17%	7%	8%
Pre-tax income	-27.6	36.6	-25.0	-82.3	-25.5	54.6	-19.7	3.3	24.6	92.4	41.0	52.9
Tax rate	n/a	7%	n/a	n/a	n/a	5%	n/a	52%	-709%	-13%	45%	32%
Net income	-31.5	33.9	-28.7	-86.1	-10.7	51.8	-22.6	1.6	199	104	22.5	36.1
Net margin	-10%	8%	-9%	-27%	-3%	12%	-6%	0%	48%	22%	5%	9%
Diluted EPS	-$0.06	$0.06	-$0.05	-$0.15	-$0.02	$0.09	-$0.04	$0.00	$0.37	$0.19	$0.04	$0.07
Operating cash flow	41.9	146	100	46.4	28.1	146	119	41.6	28.3	182	132	30.7
Capital expenditure	0.7	3.8	1.2	1.4	4.9	7.4	12.8	0.0	3.2	3.1	2.7	1.4
Free cash flow	41.2	142	98.8	45.0	23.2	139	106	41.6	25.1	179	129	29.3
Buybacks	52.6	50.0	22.0	197	163	9.3	228	102	0.0	0.0	244	24.8
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 April 2024, filed 3 June 2024, accession 0001734722-24-000039: the filing on EDGAR. All of UiPath, Inc.'s filings: EDGAR company page.

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