UiPath, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data UiPath, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	336	608	892	1,059	1,308	1,430	1,611
Cost of revenue	59.4	65.9	169	180	196	247	271
Gross profit	277	542	723	879	1,112	1,183	1,340
Research and development	131	110	277	286	332	381	385
Selling and marketing	483	380	698	702	713	738	683
General and administrative	180	162	250	240	232	226	214
Operating expenses	794	652	1,224	1,227	1,277	1,345	1,283
Operating income	-517	-110	-501	-348	-165	-163	56.8
Interest income	6.74	1.15	3.55	28	57.1	49.4	48
Other non-operating income	-6.6	14.5	-13.5	2.77	31.8	35	-4.16
Pre-tax income	-517	-94.7	-511	-318	-75.8	-78.1	101
Income tax	2.79	-2.27	14.7	10.8	14.1	-4.41	-182
Net income	-520	-92.4	-526	-328	-89.9	-73.7	282
EBITDA	-509	-98	-486	-330	-142	-145	73.7
EPS, basic	-3.41	-0.55	-1.16	-0.60	-0.16	-0.13	0.52
EPS, diluted	-3.41	-0.55	-1.16	-0.60	-0.16	-0.13	0.52
Shares, basic (weighted)	152	168	455	548	564	560	538
Shares, diluted (weighted)	152	168	455	548	564	560	545

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	234	358	1,769	1,402	1,062	879	871
Short-term investments		103	96.4	355	818	750	601
Receivables		172	252	374	436	451	488
Other current assets		0	10.1	26.4	17.2	20.9	50.2
Total current assets		734	2,277	2,344	2,580	2,339	2,244
Property, plant and equipment		14.8	17.2	29	24	32.7	46
Lease right-of-use assets		17.3	49	52.1	56.1	66.5	64.5
Goodwill	25.3	28.1	53.6	88	89	87.3	125
Intangible assets		10.2	16.8	23	14.7	7.91	20
Long-term investments		0	19.5	2.94	0	94.1	217
Other non-current assets		12.4	25.5	45.7	25.4	67.4	73.4
Total assets		866	2,572	2,735	2,955	2,865	3,179
Accounts payable		6.68	11.5	8.89	3.45	33.2	10.2
Accrued liabilities		36.7	88	76.6	84	112	121
Deferred revenue		211	297	398	487	569	604
Total current liabilities		365	528	626	712	799	905
Lease liabilities		14.2	49.8	56.4	58.7	74.2	70.9
Other non-current liabilities		7.56	4.52	10.5	7.21	10.5	16.7
Total liabilities		448	651	815	939	1,020	1,097
Paid-in capital		179	3,407	3,737	4,024	4,333	4,585
Retained earnings		-970	-1,496	-1,824	-1,914	-1,988	-1,706
Treasury stock				0	-103	-495	-834
Other comprehensive income		-12.5	10.9	7.61	8.83	-4.89	36.6
Shareholders' equity	-800	-804	1,922	1,920	2,016	1,846	2,083
Total equity	-800	-804	1,922	1,920	2,016	1,846	2,083
Total liabilities and equity		866	2,572	2,735	2,955	2,865	3,179

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-520	-92.4	-526	-328	-89.9	-73.7	282
Depreciation and amortization	8.67	12.3	14.7	18.7	22.6	17.2	17
Stock-based compensation	138	86.2	516	370	372	358	291
Deferred income tax	-1.32	-7.59	-5.83	0.86	0.55	-19.8	-203
Change in receivables	-52.1	-76.9	-86.4	-124	-64.2	-22.2	-25.8
Change in payables	-14.6	1.89	3.51	-1.57	-5.05	27.9	-21.7
Cash from operations	-359	29.2	-55	-9.98	299	321	371
Capital expenditures	-15.7	-1.95	-8.88	-23.8	-7.34	-14.9	-19
Acquisitions	-18.5	-19.7	-5.5	-29.5	0	0	-24.8
Purchases of investments	0	-103	-213	-388	-1,486	-1,470	-772
Sales and maturities of investments	0	0	108	151	1,051	1,476	809
Cash from investing	-39.5	-126	-35.4	-289	-440	-45.5	-22.5
Stock issued	3.6	26.4	12.2	8.39	6.74	8.03	1.06
Share buybacks	-129	0	0	0	-103	-391	-329
Cash from financing	458	250	1,470	-60.7	-197	-451	-372
Exchange rate effect	3.19	-16.5	18.3	-6.81
Net change in cash	62	137	1,398	-367	-340	-182	-8.04
Free cash flow	-375	27.2	-63.8	-33.8	292	306	352
Interest paid	0.1	1.71	0.69	0.65	0.56	0.31	0
Income taxes paid	3.53	4.51	8.45	21	10.8	16.7	9.81

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $12.46 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	82.6%	Gross profit / revenue.
Operating margin	8.9%	Operating income / revenue.
EBITDA margin	9.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	12.3%	Pre-tax income / revenue.
Net margin	21.0%	Net income / revenue.
FCF margin	21.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.7%	Cash from operations / revenue.
Effective tax rate	-71.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	18.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.4%	Net income / average total assets.
Return on invested capital (ROIC)	9.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	21.4%	Research and development expense / revenue.
Stock-based pay / revenue	13.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	15.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	13.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	19.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	15.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	66.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	15.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	66.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	12.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	11.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	29.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	26.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.39x	Current assets / current liabilities.
Quick ratio	1.97x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.59x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	33.0%	Total liabilities / total assets.
Working capital	$1.12B	Current assets - current liabilities.
Goodwill and intangibles / assets	9.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.67B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.59x	Revenue / average total assets.
Fixed asset turnover	37.1x	Revenue / average property, plant and equipment.
Receivables turnover	5.60x	Revenue / average receivables.
Days sales outstanding	65 days	365 x average receivables / revenue.
Days payables	20 days	365 x average accounts payable / cost of revenue.
FCF conversion	100.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.69	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.29	Revenue / diluted weighted shares.
FCF per share	$0.69	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.71	Cash from operations / diluted weighted shares.
Book value per share	$3.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.19	Tangible book value / shares outstanding.
Cash per share	$2.45	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	74.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.46B	Share price x shares outstanding.
Enterprise value	$5.17B	Market cap + total debt - cash - short-term investments.
P/E	17.8x	Market cap / net income. Only when net income is positive.
P/S	3.75x	Market cap / revenue.
P/B	3.31x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.87x	Market cap / tangible book value, when positive.
P/FCF	17.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	17.3x	Market cap / cash from operations, when positive.
EV/Sales	3.01x	Enterprise value / revenue.
EV/EBIT	33.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	30.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	14.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.6%	Free cash flow / market cap.
Earnings yield	5.6%	Net income / market cap (the inverse of P/E).
Shareholder yield	4.2%	(Dividends paid + share buybacks) / market cap.

What was UiPath, Inc.'s revenue in fiscal 2026?

UiPath, Inc. reported revenue of $1.61B for fiscal 2026, 12.7% higher than the year before.

Was UiPath, Inc. profitable in fiscal 2026?

Yes. Net income was $282.3M, a net margin of 17.5%.

How much free cash flow did UiPath, Inc. generate in fiscal 2026?

Cash from operations of $371.2M minus capital expenditures of $19.0M left free cash flow of $352.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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