At a glance
Uipath Inc is worth $7.40B, about 27 times its fiscal 2026 earnings. Revenue grew 12.7% to $1.61B in fiscal 2026, with 17.5% kept as profit; over 5 years it has grown 21.5% a year. It pays no dividend; it spent $822.5M buying back its shares over FY2022–FY2026. The stock returned −12.2% over the past year with dividends reinvested and −22.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 73.1% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high.
The business in plain English
UiPath sells software that automates work people do on computers. It began in Bucharest, Romania, in 2005 with robotic process automation (RPA): software "robots" that handle rule-based tasks in desktop and web applications, interacting with screens the way a person would. It has since added AI agents, which are programs that can plan and carry out tasks on their own. It also offers UiPath Maestro, which divides work among people, robots and agents. Other tools read documents, test software and use process mining, which studies how work flows through a company's systems to find slowdowns.
Its customers are mainly large enterprises. UiPath reaches them directly and through channel partners, including strategic alliances. Customers can run the platform on their own servers, in a public or private cloud, or through UiPath's hosted service, Automation Cloud.
In the fiscal year ended January 31, 2026, revenue was about $1.61 billion. Subscription services made up 59.3%, licenses (fees for the right to use the software) 37.7%, and professional services and other 3.1%. By region, the Americas supplied 49.6% of revenue, Europe, the Middle East and Africa 32.8%, and Asia-Pacific 17.6%.
Price history
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PATH -12.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Subscription services | $954.5M | 59.3% |
| Licenses | $606.4M | 37.7% |
| Professional services and other | $49.7M | 3.1% |
By geography
| Americas | $798.6M | 49.6% |
| Europe, Middle East, and Africa | $527.8M | 32.8% |
| Asia-Pacific | $284.3M | 17.6% |
Latest results
- In Q2 FY2027 (ended Jul 31, 2026), revenue was $410.3M, up 13.4% from a year earlier, and net income was $36.1M (+2178.3%).
- For fiscal 2026, revenue was $1.61B (+12.7% year over year; +21.5% a year from FY2021 to FY2026) with a 17.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +21.5% good |
|---|---|
| Operating margin | 3.5% weak |
| Free cash flow margin | 21.9% good |
| Return on equity (FY2026) | 13.6% watch |
| Return on assets (FY2026) | 8.9% good |
| Cash and investments | $1.41B (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $607.6M | $-92.4M | $27.2M |
| FY2022 | $892.3M | $-525.6M | $-63.8M |
| FY2023 | $1.06B | $-328.4M | $-33.8M |
| FY2024 | $1.31B | $-89.9M | $291.7M |
| FY2025 | $1.43B | $-73.7M | $305.6M |
| FY2026 | $1.61B | $282.3M | $352.2M |
Valuation snapshot
| Market value | $7.40B |
|---|---|
| P/E ratio | 27.3 |
| Dividend yield | None |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PATH price data to Oct 28, 2026 | -13.4% | -12.2% | -1.7% | -22.6% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -13.4% |
| 2025 | +28.9% |
| 2024 | -48.8% |
| 2023 | +95.4% |
| 2022 | -70.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 72.7% over that stretch · deepest drop along the way 73.1%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 13 sales ($62.0M), 13 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 19, 2026 | Daniel Dines CEO and Chairman, Director, 10% owner | sell (plan) | $22.5M |
| Oct 15, 2026 | Daniel Dines CEO and Chairman, Director, 10% owner | sell (plan) | $16.8M |
| Oct 16, 2026 | Daniel Dines CEO and Chairman, Director, 10% owner | sell (plan) | $15.6M |
| Sep 11, 2026 | Ashim Gupta COO | sell (plan) | $1.6M |
| Sep 16, 2026 | Raghavendra Malpani CPO & CTO | sell (plan) | $1.4M |
Who owns it
Large shareholders (13G filings)
| Daniel Dines | 19.2% | Dec 31, 2025 |
| BlackRock, Inc. | 8.6% | Dec 31, 2025 |
| Westbourne River Event Master Fund | 6.8% | Jun 30, 2026 |
| Vanguard Portfolio Management | 5.77% | Mar 31, 2026 |
| ARK Investment Management LLC | 4.48% | Sep 30, 2024 |
| BANK OF AMERICA CORP /DE/ | 2.2% | Jun 30, 2025 |
ETFs with the most weight in PATH
| WISE Themes Generative Artificial Intelligence ETF | 2.8% |
| BOTZ Global X Robotics & Artificial Intelligence ETF | 2.47% |
| ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF | 1.72% |
| FCLD Fidelity Cloud Computing ETF | 1.42% |
| ARKF ARK Fintech Innovation ETF | 1.37% |
| XSW SPDR S&P Software & Services ETF | 0.69% |
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 0.63% |
| AIQ Global X Artificial Intelligence & Technology ETF | 0.27% |
What could go wrong
- Rivals, including partners, are racing into automation. Big software platforms, AI model makers and startups are all investing heavily in automation. Some are UiPath partners that also build their own tools, and AI makes it easier for customers to build software themselves.
- The shift to AI agents may falter. UiPath is moving from rule-based robots to AI agents, a young, fast-changing market. If its new features lag rivals, or its AI makes errors for customers, sales and reputation could suffer.
- Reliance on one platform and big customers. Nearly all revenue comes from the UiPath Platform, and a limited number of customers make up a substantial share of it. Delays or cuts in renewals and add-on purchases have hurt results before.
- Profits are new and still thin. UiPath reported net losses every year from fiscal 2021 through 2025. Its operating margin was 3.5% in fiscal 2026, and it owes multi-year cloud payments whether or not it uses the capacity.
- Founder holds outsized voting control. UiPath has two share classes with unequal voting rights, which concentrates control with co-founder, CEO and Chairman Daniel Dines (a 19.2% holder as of December 31, 2025). Other shareholders have limited say.
- The share price swings hard. As of October 28, 2026, the stock was down 72% over five years and had fallen as much as 89% from its peak. Results that disappoint investors can push the price down quickly.
Recent events
- Quarterly results released; Executive or board change; Investor presentation or announcement; Other company announcement
- Shareholder vote results
- Quarterly results released; Other company announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Other company announcement
- Quarterly results released
For income and retirement investors
UiPath paid no dividends from fiscal 2022 through fiscal 2026, so the shares produce no income. Returns come only from share price changes, and the stock may not suit investors who need regular cash from their portfolio. The company returns cash through buybacks instead, repurchasing about $822 million of its own shares over those five years. That included $329 million in fiscal 2026, close to that year's $352 million of free cash flow (cash left after running and investing in the business).
During the 2022 bear market, when stocks fell broadly, UiPath shares dropped 73.1% from January 3 to October 11, 2022. They had not regained that peak as of October 28, 2026. The price record is too short to show how the stock held up in the 2008 financial crisis or the 2020 COVID crash. A single stock like UiPath carries more risk than a diversified fund that spreads money across many companies.
Questions investors ask
How does UiPath make money?
UiPath makes money by charging businesses for automation software that combines software robots, AI agents and people in one workflow. In the fiscal year ended January 31, 2026, revenue was about $1.61 billion. Subscription services brought in 59.3%, software licenses 37.7%, and professional services and other 3.1%. It targets large enterprises and relies on channel partners for a substantial amount of revenue. The Americas made up 49.6% of revenue, Europe, the Middle East and Africa 32.8%, and Asia-Pacific 17.6%.
Does UiPath pay a dividend?
No. UiPath paid no dividends from fiscal 2022 through fiscal 2026. Its fiscal year ends January 31. It has returned cash through share buybacks instead, spending about $822 million over that period, including $391 million in fiscal 2025 and $329 million in fiscal 2026. Buybacks can lift each remaining share's claim on future profits, but they put no cash in shareholders' hands. Investors who need portfolio income would rely entirely on share price gains with this stock.
Is UiPath profitable?
Yes, on a net income basis in its latest full fiscal year, after years of losses. For the year ended January 31, 2026, UiPath reported net income of $282 million, or $0.52 per diluted share. That followed net losses every year from fiscal 2021 through 2025. Operating income, the profit from the core business, was much smaller at $57 million, a 3.5% margin. Free cash flow, the cash left after running and investing in the business, was stronger at $352 million.
Does UiPath have any debt?
It appears not. No borrowings show up in UiPath's reported balance sheet as of July 31, 2026, while cash and investments totaled about $1.41 billion. Shareholders' equity was about $1.95 billion. A cash cushion with no borrowings gives a company room to keep investing or get through a weak stretch. However, the company has signed non-cancellable multi-year commitments to pay cloud providers for capacity whether or not it uses it.
Who controls UiPath?
Co-founder, CEO and Chairman Daniel Dines has concentrated voting control. UiPath has two classes of stock with different voting rights. This dual-class structure concentrates power with Dines and limits other shareholders' influence on major decisions. Dines reported a 19.2% stake as of December 31, 2025. Other large holders included BlackRock, with 8.6% as of the same date, and Vanguard Portfolio Management, with 5.77% as of March 31, 2026.