Latest news with #non-GAAP
Yahoo
a day ago
- Business
- Yahoo
FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q1 2025 FINANCIAL RESULTS
CALGARY, AB, May 30, 2025 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead," or the "Company") (TSXV: FHR), is pleased to announce the filing of its unaudited financial and operating results for the three months ended March 31, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead's unaudited consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended Mar. 31, 2025 and 2024 ("2025 Q1 Documents"). Financial and operating highlights for the period include: Achieved average corporate production of 1,636 boe/d compared to average corporate production in Q4/24 of 1,624 boe/d. First quarter of 2025, Fiddlehead's petroleum and natural gas sales totaled $3,975,870 and Funds Flow used in Operations was $194,854. Readers are encouraged to read the 2025 Q1 Documents in their entirety, which are available on SEDAR+ at and on Fiddlehead's website at The table below summarizes selected highlights from the Company's financial and operating results: (Expressed in $000s except per share, price and volume amounts.) Three months endedMarch 31December 31March 31202520242024OPERATING HIGHLIGHTS AND NETBACKS1Average production and sales volumesLight oil (bbls/d)119134-NGLs (bbls/d)394378-Natural gas (Mcf/d)6,7466,675-Total (BOE/d)1,6361,624-Average realized sales pricesLight oil ($/bbl)91.7991.72-NGLs ($/bbl)49.3255.39-Natural gas ($/Mcf)2.061.28-Total oil equivalent ($/BOE)27.1325.86-Netbacks ($/BOE)1Petroleum and natural gas sales 27.1325.86-Royalties6.656.67-Operating expenses11.6511.25-Transportation expenses0.100.09-Operating Netback18.747.84-General and administrative expenses7.628.86-Finance costs6.274.98-Adjusted Funds Flow Netback1,2(5.15)(6.10)-FINANCIAL HIGHLIGHTSPetroleum and natural gas sales3,9763,844-Petroleum and natural gas sales, net of royalties2,9962,846-Net loss & comprehensive loss(2,497)(2,295)(138)Basic per share(0.04)(0.04)(0.03)Diluted per share(0.04)(0.04)(0.03)Cash flow used in operating activities(145)(812)(146)Funds Flow from Operations2(195)(74)(127)Basic per share(0.00)(0.00)(0.02)Diluted per share(0.00)(0.00)(0.02)Acquisitions---Total assets30,05431,714245Total non-current financial liabilities11,48211,666-Total long-term debt, including current portion12,12012,168-Shareholders' equity3,4125,909229Weighted average common shares outstanding (000s) – basic360,52160,5215,276Weighted average common shares outstanding (000s) – diluted360,52160,5215,276Common shares outstanding (000s), end of period460,52160,5215,2761 "Netbacks" are non-GAAP financial measure calculated per unit of production. "Operating Netback", and "Adjusted Funds Flow Netback" do not have standardized meanings under IFRS Accounting Standards. See " Non-GAAP Financial Measures " section 2 "Funds Flow from Operations" ("FFO") does not have a standardized meaning under IFRS Accounting Standards. See "Non-GAAP Financial Measures". 3 Common shares outstanding have been adjusted as a result of the Share Consolidation. READER ADVISORIES In this press release, all references to "$" are to Canadian dollars. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Fiddlehead Resources Corp. View original content to download multimedia:
Fashion United
a day ago
- Business
- Fashion United
Foot Locker closes 56 stores as it swings to loss in Q1
Foot Locker enacted a series of global store closures in the first quarter ended May 3, 2025, as it swung into a loss amid declining sales. The company, which earlier this month announced it was to be acquired by US sports retailer Dick's Sporting Goods, said that it closed 56 stores over the reported period. These included locations in South Korea, Denmark, Norway, Sweden, Greece and Romania. Notably, for the latter two regions, Foot Locker sold its licensed operations to its licensing partner in April 2025. The closures fell alongside the opening of nine new stores, as well as the remodel and relocation of 11 stores, with a further 69 locations receiving the brand's updated design standards. This reflected the continued roll out of Foot Locker's 'Reimagined and Refresh' programmes, designed to 'elevate our in-store experience', CEO Mary Dillon said in a release. Ahead of Dick's acquisition, Foot Locker tackles falling sales With this, Foot Locker reaffirmed its Q1 results, already outlined on a preliminary basis earlier this month, which Dillon had said fell 'below our expectations as we experienced softer traffic trends globally'. Total sales were down 4.6 percent to 1.79 billion dollars, while comparable sales decreased 2.6 percent. This drop was particularly impacted by an 8.5 percent decrease in comparable sales for Foot Locker's international business, compared to a more marginal 0.5 percent drop in North American sales. Most notably, Foot Locker swung to a loss during Q1. The company fell from a net income of eight million dollars in the same period of the year prior to a net loss of 363 million dollars. On a non-GAAP basis, net loss came to six million dollars. First quarter net loss per share amounted to 3.81 dollars, compared with earnings per share of 0.09 dollars in the first quarter of 2024.
Yahoo
2 days ago
- Business
- Yahoo
ThreeD Capital Inc. Releases Results For the Three and Nine Months Ended March 31, 2025
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. ('ThreeD' or the 'Company') (CSE:IDK / OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce its unaudited results as at and for the three and nine months ended March 31, 2025. As at March 31, 2025, the Company had cash, investments and digital assets of $37.4 million. As at March 31, 2025, net asset value per share was $0.53 as compared to $0.86 as at June 30, 2024. (See 'Use of Non-GAAP Financial Measures' elsewhere) Financial Highlights for the three and nine months ending March 31, 2025 with comparatives: Operating Results Three months ended March 31, Nine months ended March 31, 2025 2024 2025 2024 Net investment and digital assets gains (losses) $ (4,838,215) $ 4,486,530 $ (6,348,077) $ 7,861,037 Operating, general and administrative expenses (815,096) (1,059,859) (2,812,064) (2,581,273) Net income (loss) for the period (5,463,310) 3,709,026 (8,778,468) 5,902,964 Total comprehensive income (loss) for the period (5,463,838) 3,708,589 (8,779,393) 5,902,545 Basic earnings (loss) per common share (0.08) 0.07 (0.15) 0.11 Diluted earnings (loss) per common share (0.08) 0.07 (0.15) 0.11Consolidated statement of financial position highlights March 31, 2025 June 30, 2024 Cash $ 7,567 $ 482,146 Investments, at fair value 36,263,127 51,577,705 Digital assets, at fair value less cost to sell 1,097,449 3,156,065 Total assets 41,016,482 56,174,715 Total liabilities 633,307 11,455,313 Share capital, contributed surplus, warrants 156,016,658 151,573,492 Foreign currency translation reserve 874,177 875,102 Deficit (116,507,660) (107,729,192) Sheldon Inwentash, Chairman and CEO, stated 'Although ThreeD recognized losses during the quarter, the Company's portfolio remains fundamentally strong, with key investments continuing to achieve significant milestones and growth targets. This past quarter, we observed encouraging developments across several holdings, particularly in the micropayments, artificial intelligence, and digital asset sectors. As the Company maintains these promising investments, ThreeD also remains focused on expanding its network to pursue new investment opportunities that align with our strategic vision.' Use of Non-GAAP Financial Measures: This press release contains references to 'net asset value per share' ('NAV') which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in ThreeD's consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding our performance, and may assist in the evaluation of the Company's business relative to that of its peers. About ThreeD Capital Inc. ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD's investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company's ecosystem. For further information: Matthew Davis, CPA Chief Financial Officerdavis@ Phone: 416-941-8900 The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. Forward-Looking Statements This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as 'forward-looking statements') within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward- looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward- looking statements contained herein are expressly qualified by this cautionary statement.
Yahoo
2 days ago
- Business
- Yahoo
CooperCompanies Announces Second Quarter 2025 Results
SAN RAMON, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal second quarter ended April 30, 2025. Revenue increased 6% year-over-year to $1,002.3 million. CooperVision (CVI) revenue up 5% to $669.6 million, and CooperSurgical (CSI) revenue up 8% to $332.7 million. GAAP diluted earnings per share (EPS) of $0.44, consistent with last year's second quarter. Non-GAAP diluted EPS of $0.96, up $0.11 or 14% from last year's second quarter. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below. Commenting on the results, Al White, CooperCompanies' President and CEO said, "This was another solid quarter driven by double-digit growth in CooperVision's daily silicone hydrogel portfolio and CooperSurgical's office and surgical portfolio. As we move forward, our teams remain focused on taking share, delivering leverage, launching products and completing capacity expansion projects." Second Quarter Operating Results Revenue of $1,002.3 million, up 6% from last year's second quarter, up 7% in constant currency, up 7% organically. Gross margin of 68% compared with 67% in last year's second quarter driven by efficiency gains and mix. On a non-GAAP basis, gross margin was 68%, up from 67% last year. Operating margin of 18% compared with 17% in last year's second quarter driven by stronger gross margins and targeted expense leverage. On a non-GAAP basis, operating margin was 25%, up from 24% last year. Interest expense of $24.2 million compared with $28.9 million in last year's second quarter driven by lower interest rates and lower average debt. On a non-GAAP basis, interest expense was $23.5 million, down from $27.5 million. Cash provided by operations of $96.2 million offset by capital expenditures of $78.1 million resulted in free cash flow of $18.1 million. Second Quarter CooperVision (CVI) Revenue Revenue of $669.6 million, up 5% from last year's second quarter, up 7% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Toric and multifocal $ 328.4 6% 1% 7% —% 7% Sphere, other 341.2 5% 1% 6% —% 6% Total $ 669.6 5% 2% 7% —% 7% Revenue by geography: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Americas $ 282.4 7% 1% 8% —% 8% EMEA 248.6 5% 1% 6% —% 6% Asia Pacific 138.6 3% 2% 5% —% 5% Total $ 669.6 5% 2% 7% —% 7% Second Quarter CooperSurgical (CSI) Revenue Revenue of $332.7 million, up 8% from last year's second quarter, up 9% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Office and surgical $ 205.8 13% —% 13% (3)% 10% Fertility 126.9 3% 1% 4% (2)% 2% Total $ 332.7 8% 1% 9% (2)% 7% Other During the second quarter of fiscal 2025, the company repurchased $40.6 million of common stock, roughly 537.2 thousand shares, under the existing share repurchase program at an average share price of $75.60. The program has $215.8 million of remaining availability. Fiscal Year 2025 Financial Guidance The Company updated its fiscal year 2025 financial guidance. Details are summarized as follows: Fiscal 2025 total revenue of $4,107 - $4,146 million (organic growth of 5% to 6%) CVI revenue of $2,759 - $2,786 million (organic growth of 6% to 7%) CSI revenue of $1,347 - $1,359 million (organic growth of 3.5% to 4.5%) Fiscal 2025 non-GAAP diluted EPS of $4.05 - $4.11 Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations. With respect to the Company's guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance. Reconciliation of Selected GAAP Results to Non-GAAP Results To supplement our financial results and guidance presented on a GAAP basis, we provide non-GAAP measures such as non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted earnings per share, as well as constant currency and organic revenue growth because we believe they are helpful for the investors to understand our consolidated operating results. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. We provide further details of the non-GAAP adjustments made to arrive at our non-GAAP measures in the GAAP to non-GAAP reconciliations below. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. To present constant currency revenue growth, current period revenue for entities reporting in currencies other than the United States dollar are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year. To present organic revenue growth, we excluded the effect of foreign currency fluctuations and the impact of any acquisitions, divestitures and discontinuations that occurred in the comparable period. We define the non-GAAP measure of free cash flow as cash provided by operating activities less capital expenditures. We believe free cash flow is useful for investors as an additional measure of liquidity because it represents cash that is available to grow the business, make strategic acquisitions, repay debt, or buyback common stock. Management uses free cash flow internally to understand, manage, make operating decisions and evaluate our business. In addition, we use free cash flow to help plan and forecast future periods. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationGross Margin, Operating Margin, and EPS Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Gross Profit $ 679.1 68 % $ 631.2 67 % $ 1,339.3 68 % $ 1,255.0 67 % Acquisition and integration-related charges(1) 2.1 — % 0.4 — % 3.8 — % 1.2 — % Exit of business(2) — — % 0.4 — % — — % 0.5 — % Medical device regulations(3) 0.7 — % 0.7 — % 1.3 — % 1.7 — % Business optimization charges(4) — — % 1.7 — % — — % 3.3 — % Total 2.8 — % 3.2 — % 5.1 — % 6.7 — % Non-GAAP Gross Profit $ 681.9 68 % $ 634.4 67 % $ 1,344.4 68 % $ 1,261.7 67 % Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Operating Income $ 184.8 18 % $ 161.7 17 % $ 366.8 19 % $ 314.8 17 % Amortization of acquired intangibles 49.8 5 % 50.3 5 % 99.4 5 % 100.6 5 % Acquisition and integration-related charges (1) 9.6 1 % 1.8 — % 13.9 1 % 12.3 1 % Exit of business (2) — — % 1.1 — % — — % 1.5 — % Medical device regulations (3) 5.3 1 % 5.0 1 % 10.7 1 % 10.2 1 % Business optimization charges (4) — — % 4.2 1 % — — % 11.0 — % Other (5) — — % 0.7 — % 0.6 — % 1.5 — % Total 64.7 7 % 63.1 7 % 124.6 7 % $ 137.1 7 % Non-GAAP Operating Income $ 249.5 25 % $ 224.8 24 % $ 491.4 26 % $ 451.9 24 % Three Months Ended April 30, Six Months Ended April 30, (In millions, except per share amounts) 2025 EPS 2024 EPS 2025 EPS 2024 EPS GAAP Net Income $ 87.7 $ 0.44 $ 88.9 $ 0.44 $ 192.0 $ 0.96 $ 170.1 $ 0.85 Amortization of acquired intangibles 49.8 0.24 50.3 0.25 99.4 0.49 100.6 0.50 Acquisition and integration-related charges(1) 9.6 0.05 1.8 0.01 13.9 0.07 12.3 0.06 Exit of business(2) — — 1.1 0.01 — — 1.5 0.01 Medical device regulations(3) 5.3 0.02 5.0 0.03 10.7 0.05 10.2 0.06 Business optimization charges(4) — — 4.2 0.02 — — 11.0 0.04 Other(5) 17.4 0.09 3.6 0.02 19.9 0.10 7.2 0.04 Tax effects related to the above items (11.1 ) (0.06 ) (14.1 ) (0.07 ) (25.8 ) (0.13 ) (33.9 ) (0.17 ) Intra-entity asset transfers(6) 34.8 0.18 28.7 0.14 67.8 0.34 61.1 0.31 Total 105.8 0.52 80.6 0.41 185.9 0.92 170.0 0.85 Non-GAAP Net Income $ 193.5 $ 0.96 $ 169.5 $ 0.85 $ 377.9 $ 1.88 $ 340.1 $ 1.70 Weighted average diluted shares used 200.7 200.5 200.9 200.2 EPS, amounts and percentages may not sum or recalculate due to rounding. (1) Charges include the direct effects of acquisition accounting, such as amortization of inventory fair value step-up, professional services fees, regulatory fees and changes in fair value of contingent considerations, and items related to integrating acquired businesses, such as redundant personnel costs for transitional employees, acquisition-related non-cash cumulative true up adjustments reflecting changes in compensation, other acquired employee related costs, and integration-related professional services, manufacturing integration costs, legal entity and facility rationalization and other integration-related activities. The acquisition and integration-related charges in fiscal 2025 were primarily related to the obp Surgical and the Cook Medical acquisition and integration expenses. The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses. Charges included $3.5 million and $4.8 million related to redundant personnel costs for transitional employees, $1.1 million and $2.4 million of professional services fees, $1.2 million and $2.1 million of inventory fair value step-up amortization, $1.1 million and $1.8 million of facility rationalization costs, and $0.3 million and $0.4 million of other acquisition and integration-related activities in the three and six months ended April 30, 2025. The three months ended April 30, 2025 also included $2.4 million of acquisition-related non-cash cumulative true-up adjustments reflecting changes in compensation. Charges included $0.9 million and $4.9 million related to redundant personnel costs for transitional employees, $0.6 million and $3.7 million of professional services fees, $0.1 million and $0.8 million of manufacturing integration costs, and $0.2 million and $2.9 million of other acquisition and integration-related activities in the three and six months ended April 30, 2024. (2) Charges include costs related to product line exits such as inventory write-offs, site closure costs, contract termination costs and specifically-identified long-lived asset write-offs. There were no exit of business charges in the three and six months ended April 30, 2025. Charges included $0.9 million and $0.9 million of write-offs of long-lived assets, $0.2 million and $0.6 million of other costs related to product line exits in the three and six months ended April 30, 2024. (3) Charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be limited to a specific time period. (4) Charges represent the costs associated with initiatives to increase efficiencies across the organization and optimize our overall cost structure, including changes to our IT infrastructure and operations, employee severance costs, legal entity and other business reorganizations, write-offs or impairments of certain long-lived assets associated with the business optimization activities. There were no business optimization charges in the three and six months ended April 30, 2025. Charges included $2.1 million and $8.1 million of employee severance costs, $1.0 million $1.3 million related to changes to our IT infrastructure and operations, and $1.1 million and $1.6 million of legal entity and other business reorganizations costs in the three and six months ended April 30, 2024. (5) Charges include certain business disruptions from natural causes, litigation matters and other items that are not part of ordinary operations. The adjustments to arrive at non-GAAP net income also include gains and losses on minority interest investments and accretion of interest attributable to acquisition installment payables. Charges in the three months ended April 30, 2025 included $16.7 million of gains and losses on minority interest investments, of which $15.7 million was related to loss on disposal of a minority interest investment, and $0.7 million of accretion of interest attributable to acquisition installment payables. Charges in the six months ended April 30, 2025 included $17.9 million of gains and losses on a minority interest investment, $1.4 million of accretion of interest attributable to acquisition installment payables, and $0.6 million legal fees. Charges included $1.5 million and $2.9 million of gains and losses on minority interest investments, $1.3 million and $2.7 million of accretion of interest attributable to acquisition installment payables, and $0.8 million and $1.6 million related to legal matters in the three and six months ended April 30, 2024. (6) In fiscal 2021, the Company transferred its CooperVision intellectual property and goodwill to its UK subsidiary. As a result, we recorded a deferred tax asset equal to approximately $2.0 billion as a one-time tax benefit in accordance with U.S. GAAP in fiscal 2021 as subsequently adjusted for changes in UK tax law. The non-GAAP adjustments reflect the ongoing net deferred tax benefit from tax amortization each period under UK tax law. Audio Webcast and Conference Call The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its second quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 1515103. About CooperCompanies CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on helping people experience life's beautiful moments through its two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, helping to improve the way people see each day. CooperSurgical is a leading fertility and women's healthcare company dedicated to putting time on the side of women, babies, and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies has a workforce of more than 16,000, sells products in over 130 countries, and positively impacts over fifty million lives each year. For more information, please visit Forward-Looking Statements This earnings release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements of which are other than statements of historical fact, including our fiscal year 2025 financial guidance, are forward looking. In addition, all statements regarding anticipated growth in our revenues, anticipated effects of any product recalls, anticipated market conditions, planned product launches, restructuring or business transition expectations, regulatory plans, and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters and pandemic conditions, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; the impact of international conflicts and the global response to international conflicts on the global and local economy, financial markets, energy markets, currency rates and our ability to supply product to, or through, affected countries; our substantial and expanding international operations and the challenges of managing an organization spread throughout multiple countries and complying with a variety of legal, compliance and regulatory requirements; the actual imposition or threats of tariffs, customs duties and fees by the U.S. government and other nations in response and other retaliatory actions, such as trade protection measures, import or export licensing requirements, new or different customs duties, trade embargoes and sanctions and other trade barriers, as well as the impact of the Company's efforts to mitigate the effect of such tariffs; foreign currency exchange rate and interest rate fluctuations including the risk of fluctuations in the value of foreign currencies or interest rates that would decrease our net sales and earnings; our existing and future variable rate indebtedness and associated interest expense is impacted by rate increases, which could adversely affect our financial health or limit our ability to borrow additional funds; changes in tax laws, examinations by tax authorities, and changes in our geographic composition of income; acquisition-related adverse effects including the failure to successfully achieve the anticipated net sales, margins and earnings benefits of acquisitions, integration delays or costs and the requirement to record significant adjustments to the preliminary fair value of assets acquired and liabilities assumed within the measurement period, required regulatory approvals for an acquisition not being obtained or being delayed or subject to conditions that are not anticipated, adverse impacts of changes to accounting controls and reporting procedures, contingent liabilities or indemnification obligations, increased leverage and lack of access to available financing (including financing for the acquisition or refinancing of debt owed by us on a timely basis and on reasonable terms); compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Consumer Privacy Act (CCPA) in the U.S. and the General Data Protection Regulation (GDPR) requirements in Europe, including but not limited to those resulting from data security breaches; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development, distribution facilities or raw material supply chain due to challenges associated with integration of acquisitions, man-made or natural disasters, pandemic conditions, cybersecurity incidents or other causes; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development or distribution facilities due to the failure to perform by third-party vendors, including cloud computing providers or other technological problems, including any related to our information systems maintenance, enhancements or new system deployments, integrations or upgrades; a successful cybersecurity attack which could interrupt or disrupt our information technology systems, or those of our third-party service providers, or cause the loss of confidential or protected data; market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers; disruptions in supplies of raw materials, particularly components used to manufacture our silicone hydrogel lenses; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the contact lens industry specifically and the medical device or pharmaceutical industries generally, including but not limited to the EU Medical Devices Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices Regulation (IVDR); legal costs, insurance expenses, settlement costs and the risk of an adverse decision, prohibitive injunction or settlement related to product liability, patent infringement, contractual disputes, or other litigation; limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies, including but not limited to, technological advances by competitors, new products and patents attained by competitors, and competitors' expansion through acquisitions; reduced sales, loss of customers, reputational harm and costs and expenses, including from claims and litigation related to product recalls and warning letters; failure to receive, or delays in receiving, regulatory approvals or certifications for products; failure of our customers and end users to obtain adequate coverage and reimbursement from third-party payers for our products and services; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill, other intangible assets and idle manufacturing facilities and equipment; the success of our research and development activities and other start-up projects; dilution to earnings per share from acquisitions or issuing stock; impact and costs incurred from changes in accounting standards and policies; risks related to environmental laws and requirements applicable to our facilities, products or manufacturing processes, including evolving regulations regarding the use of hazardous substances or chemicals in our products; risks related to environmental, social and corporate governance (ESG) issues, including those related to regulatory and disclosure requirements, climate change and sustainability; and other events described in our Securities and Exchange Commission filings, including the 'Business', 'Risk Factors' and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2024, as such Risk Factors may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Contact: Kim DuncanVice President, Investor Relations and Risk Management925-460-3663ir@ COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets(In millions)(Unaudited) April 30, 2025 October 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 116.2 $ 107.6 Trade receivables, net 780.9 717.0 Inventories 880.3 802.7 Prepaid expense and other current assets 348.3 324.2 Total current assets 2,125.7 1,951.5 Property, plant and equipment, net 1,928.5 1,863.4 Goodwill 3,864.7 3,838.4 Other intangibles, net 1,694.0 1,791.0 Deferred tax assets 2,141.7 2,210.3 Other assets 659.0 660.6 Total assets $ 12,413.6 $ 12,315.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt $ 59.8 $ 33.3 Accounts Payable 244.2 260.5 Employee compensation and benefits 157.1 174.8 Deferred revenue 127.6 129.9 Other current liabilities 423.8 424.3 Total current liabilities 1,012.5 1,022.8 Long-term debt 2,525.6 2,550.4 Deferred tax liabilities 99.1 96.0 Long-term tax payable 17.7 57.5 Deferred revenue 196.4 193.3 Other liabilities 274.2 311.6 Total liabilities 4,125.5 4,231.6 Stockholders' equity 8,288.1 8,083.6 Total liabilities and stockholders' equity $ 12,413.6 $ 12,315.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Statements of Income(In millions, except per share amounts)(Unaudited) Three Months EndedApril 30, Six Months EndedApril 30, 2025 2024 2025 2024 Net sales $ 1,002.3 $ 942.6 $ 1,967.0 $ 1,874.2 Cost of sales 323.2 311.4 627.7 619.2 Gross profit 679.1 631.2 1,339.3 1,255.0 Selling, general and administrative expense 399.0 380.3 786.9 761.2 Research and development expense 45.5 38.9 86.2 78.4 Amortization of intangibles 49.8 50.3 99.4 100.6 Operating income 184.8 161.7 366.8 314.8 Interest expense 24.2 28.9 50.2 58.8 Other expense, net 16.1 2.8 18.8 6.0 Income before income taxes 144.5 130.0 297.8 250.0 Provision for income taxes 56.8 41.1 105.8 79.9 Net income $ 87.7 $ 88.9 $ 192.0 $ 170.1 Earnings per share - diluted $ 0.44 $ 0.44 $ 0.96 $ 0.85 Number of shares used to compute diluted earnings per share 200.7 200.5 $ 200.9 200.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationConstant Currency Revenue Growth and Organic Revenue Growth Net Sales % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 CooperVision $ 669.6 5 % 2 % 7 % — % 7 % CooperSurgical 332.7 8 % 1 % 9 % (2) % 7 % Total $ 1,002.3 6 % 1 % 7 % — % 7 %
Business Wire
2 days ago
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- Business Wire
UiPath Reports First Quarter Fiscal 2026 Financial Results
NEW YORK--(BUSINESS WIRE)--UiPath, Inc. (NYSE: PATH), a global leader in agentic automation, today announced financial results for its first quarter fiscal 2026 ended April 30, 2025. 'I'm pleased with our first quarter results, highlighted by ARR of $1.693 billion, up 12 percent year-over-year, a reflection of our improved execution and the meaningful ROI our customers are realizing through our automation platform,' said Daniel Dines, UiPath Founder and Chief Executive Officer. "This was a milestone quarter for UiPath, marked by the launch of our agentic automation platform, a meaningful step forward in our product evolution. We're encouraged by the early response from customers, partners, and the broader ecosystem, which underscores the growing interest in agentic automation as a key part of the enterprise automation journey. As we continue to bring this next generation of capabilities to market, we remain confident in our strategy, our differentiation, and the opportunity ahead.' First Quarter Fiscal 2026 Financial Highlights Revenue of $357 million increased 6 percent year-over-year. ARR of $1.693 billion as of April 30, 2025 increased 12 percent year-over-year. Net new ARR of $27 million. Dollar based net retention rate of 108 percent. GAAP gross margin was 82 percent. Non-GAAP gross margin was 84 percent GAAP operating loss was $(16) million. Non-GAAP operating income was $70 million. Net cash flow from operations was $119 million. Non-GAAP adjusted free cash flow was $117 million. Cash, cash equivalents, and marketable securities Financial Outlook 'We delivered a strong start to the year, with first quarter results exceeding our guidance on both the top and bottom line, and achieving significant year-over-year expansion in non-GAAP operating margin,' said Ashim Gupta, UiPath Chief Operating Officer and Chief Financial Officer. 'As we look to the remainder of the year, we remain focused on executing our strategy, investing in innovation and maintaining operational discipline to drive sustainable growth and profitability.' For the second quarter fiscal 2026, UiPath expects: Revenue in the range of $345 million to $350 million ARR in the range of $1.715 billion to $1.720 billion as of July 31, 2025 Non-GAAP operating income of approximately $40 million For the full year fiscal 2026, UiPath expects: Revenue in the range of $1.549 billion to $1.554 billion ARR in the range of $1.820 billion to $1.825 billion as of January 31, 2026 Non-GAAP operating income of approximately $305 million Reconciliation of non-GAAP operating income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity, and low visibility with respect to the charges excluded from this non-GAAP measure; in particular, the effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. Recent Business Highlights Launched the First Enterprise-Grade Platform for Agentic Automation: UiPath launched its next-generation UiPath Platform™ for agentic automation, a groundbreaking platform designed to unify AI agents, robots, and people on a single intelligent system. With open and secure orchestration at its core, the platform transforms workflows by enabling the creation, deployment, and management of highly reliable AI agents, robots, and people with unmatched scalability, flexibility, and compliance. The UiPath Platform for Agentic Automation features UiPath Maestro, controlled agency, capabilities for developers to rapidly prototype agents in UiPath Agent Builder, integration with third-party agent frameworks, UiPath IXP (Intelligent Xtraction & Processing), and UI Agent for computer use. Launched Test Cloud to Bring AI Agents to Software Testing: UiPath launched UiPath Test Cloud, a revolutionary new approach to software testing that uses advanced AI to amplify tester productivity across the entire testing lifecycle for exceptional efficiency and cost savings. UiPath Test Cloud is a full-featured testing offering that equips software testing teams with enterprise-ready, production-grade, resilient end-to-end automation for modern and enterprise applications. Advanced its Open Agentic Ecosystem Through Bi-Directional Integrations with Microsoft Copilot Studio: UiPath announced new capabilities that enable the orchestration of Microsoft Copilot Studio agents alongside UiPath and other third-party agents using UiPath Maestro™. Developers can now embed UiPath automations and AI agents directly into Microsoft Copilot Studio and integrate Copilot agents within UiPath Studio — all while orchestrating seamlessly across platforms with UiPath Maestro. This capability facilitates seamless interaction between UiPath and Microsoft agents and automations — allowing customers to automate complex end-to-end processes, enable contextual decision-making, improve scalability, and unlock new levels of productivity. Named a Leader in IDC MarketScape: Worldwide Business Automation Platforms 2025 Vendor Assessment: UiPath was named a Leader in the IDC MarketScape: Worldwide Business Automation Platforms 2025 Vendor Assessment. According to the report, 'UiPath has a strong vision for end-to-end orchestration and delivery of agentic automation capabilities, with the opportunity to disrupt traditional process execution.' UiPath offers a broad platform of sophisticated automation functionality and strong vision for end-to-end orchestration and delivery of agentic automation capabilities, with the opportunity to disrupt traditional business process execution. Recognized as a Leader in the Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2025: UiPath was named a Leader in Intelligent Document Processing for the third consecutive year in the Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix® Assessment 2025. The report also positioned UiPath as a Leader in 10 Banking and Financial Services (BFS) IDP products. Recognized Fast Track Partners for Their Innovation with Agentic Automation: UiPath honored partners with a badge of distinction for being a UiPath Agentic Automation Fast Track Partner. This recognition is granted to select UiPath partners that have received early access and training in agentic automation capabilities from UiPath, have identified use cases for customers where agents can help augment end-to-end process automation, and have contributed to further development of UiPath agentic automation solutions. Announced AI Partnership with Google Cloud to Transform Medical Processes: at Google Cloud Next 2025, UiPath announced the launch of its generative AI-based UiPath Medical Record Summarization agent, powered by Google Cloud Vertex AI and Gemini models. The UiPath Medical Record Summarization AI agent empowers both payer and provider organizations to take complete advantage of the combined power of generative AI and agentic automation. Developed in partnership with top clinical professionals, the solution leverages Google Gemini 2.0 Flash through Vertex AI to create a more efficient and accurate way to analyze medical documents. Conference Call and Webcast UiPath will host a conference call today, Thursday, May 29, 2025, at 5:00 p.m. Eastern Time, to discuss the Company's first quarter fiscal 2026 financial results and its guidance for the second quarter and full year fiscal 2026. To access this call, dial 1-201-689-8057 (domestic) or 1-877-407-8309 (international). The passcode is 13753232. A live webcast of this conference call will be available on the "Investor Relations" page of UiPath's website ( and a replay will also be archived on the website for one year. About UiPath UiPath (NYSE: PATH) is a global leader in agentic automation, empowering enterprises to harness the full potential of AI agents to autonomously execute and optimize complex business processes. The UiPath Platform™ uniquely combines controlled agency, developer flexibility, and seamless integration to help organizations scale agentic automation safely and confidently. Committed to security, governance, and interoperability, UiPath supports enterprises as they transition into a future where automation delivers on the full potential of AI to transform industries. For more information, visit Forward-Looking Statements Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, which are usually identified by the use of words such as 'anticipates,' 'believes,' 'estimates,' 'expects,' 'intends,' 'may,' 'plans,' 'possible,' 'projects,' 'outlook,' 'seeks,' 'should,' 'will,' and variations of such words or similar expressions, including the negatives of these words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements include, but are not limited to, statements regarding: our financial guidance for the second fiscal quarter 2026 and the full fiscal year 2026; our ability to drive and accelerate future growth and operational efficiency and grow our platform, product offerings, and market opportunity; our business strategy; plans and objectives of management for future operations; the estimated addressable market opportunity for our platform and the growth of the enterprise automation market; the success of our platform and new releases including the incorporation of AI; the success of our collaborations with third parties; our customers' behaviors and potential automation spend; and details of UiPath's stock repurchase program. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our expectations regarding our revenue, annualized renewal run-rate (ARR), expenses, and other operating results; our ability to effectively manage our growth and achieve or sustain profitability; our ability to acquire new customers and successfully retain existing customers; the ability of the UiPath Platform™ to satisfy and adapt to customer demands and our ability to increase its adoption; our ability to grow our platform and release new functionality in a timely manner; future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements; the costs and success of our marketing efforts and our ability to evolve and enhance our brand; our growth strategies; the estimated addressable market opportunity for our platform and for automation in general; our reliance on key personnel and our ability to attract, integrate, and retain highly-qualified personnel and execute management transitions; our ability to obtain, maintain, and enforce our intellectual property rights and any costs associated therewith; the effect of significant events with macroeconomic impacts, including but not limited to military conflicts and other changes in geopolitical relationships and inflationary cost trends, on our business, industry, and the global economy; our reliance on third-party providers of cloud-based infrastructure; our ability to compete effectively with existing competitors and new market entrants, including new, potentially disruptive technologies; the size and growth rates of the markets in which we compete; and the price volatility of our Class A common stock. Further information on risks that could cause actual results to differ materially from our guidance and other forward-looking statements can be found in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025 filed with the United States Securities and Exchange Commission (SEC) on March 24, 2025, and other filings and reports that we may file from time to time with the SEC. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements. Key Performance Metric Annualized Renewal Run-rate (ARR) is the key performance metric we use in managing our business because it illustrates our ability to acquire new subscription customers and to maintain and expand our relationships with existing subscription customers. We define ARR as annualized invoiced amounts per solution SKU from subscription licenses and maintenance and support obligations assuming no increases or reductions in customers' subscriptions. ARR does not include the costs we may incur to obtain such subscription licenses or provide such maintenance and support. ARR also does not reflect nonrecurring rebates payable to partners (upon establishing sufficient history of their nonrecurring nature), the impact of nonrecurring incentives (such as one-time discounts provided under sales promotional programs), and any actual or anticipated reductions in invoiced value due to contract non-renewals or service cancellations other than for certain reserves (for example those for credit losses or disputed amounts). ARR does not include invoiced amounts associated with perpetual licenses or professional services. ARR is not a forecast of future revenue, which is impacted by contract start and end dates and duration. ARR should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. Dollar-based net retention rate represents the rate of net expansion of our ARR from existing customers over the preceding 12 months. We calculate dollar-based net retention rate as of a period end by starting with ARR from the cohort of all customers as of 12 months prior to such period end (Prior Period ARR). We then calculate the ARR from these same customers as of the current period end (Current Period ARR). Current Period ARR includes any expansion and is net of any contraction or attrition over the preceding 12 months but does not include ARR from new customers in the current period. We then divide total Current Period ARR by total Prior Period ARR to arrive at dollar-based net retention rate. Dollar-based net retention rate may fluctuate based on the customers that qualify to be included in the cohort used for calculation and may not reflect our actual performance. Investors should not place undue reliance on ARR or dollar-based net retention rate as an indicator of future or expected results. Our presentation of these metrics may differ from similarly titled metrics presented by other companies and therefore comparability may be limited. Non-GAAP Financial Measures Non-GAAP financial measures are financial measures that are derived from the consolidated financial statements, but that are not presented in accordance with generally accepted accounting principles in the United States (GAAP). This earnings press release includes financial measures defined as non-GAAP financial measures by the SEC, including non-GAAP cost of licenses, non-GAAP cost of subscription services, non-GAAP cost of professional services and other, non-GAAP gross profit and margin, non-GAAP sales and marketing expenses, non-GAAP research and development expenses, non-GAAP general and administrative expenses, non-GAAP operating income and margin, and non-GAAP net income and non-GAAP net income per share. These non-GAAP financial measures exclude: stock-based compensation expense; amortization of acquired intangibles; employer payroll tax expense related to employee equity transactions; restructuring costs; charitable donation of Class A common stock; and in the case of non-GAAP net income, estimated tax adjustments associated with the add-back items, as applicable. Additionally, this earnings release presents non-GAAP adjusted free cash flow, which is calculated by adjusting GAAP operating cash flows for the impact of purchases of property and equipment, cash paid for employer payroll taxes related to employee equity transactions, net payments/receipts of employee tax withholdings on stock option exercises, and cash paid for restructuring costs. UiPath uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, by excluding the effects of items that do not reflect the ordinary earnings of our operations, and as a supplement to GAAP measures. UiPath believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in UiPath's industry, many of which present similar non-GAAP financial measures to investors. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. The information below provides a reconciliation of non-GAAP financial measures used in this earnings press release to the most directly comparable GAAP financial measures. We encourage investors to consider our GAAP results alongside our supplemental non-GAAP measures, and to review the reconciliation between GAAP results and non-GAAP measures that is included at the end of this earnings press release. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of UiPath's website at UiPath, Inc. Condensed Consolidated Balance Sheets in thousands (unaudited) As of April 30, 2025 January 31, 2025 Assets Current assets Cash and cash equivalents $ 700,641 $ 879,196 Restricted cash 438 438 Marketable securities 854,392 750,322 Accounts receivable, net of allowance for credit losses of $1,924 and $1,642, respectively 266,619 451,131 Contract assets 103,150 88,735 Deferred contract acquisition costs 85,162 82,461 Prepaid expenses and other current assets 99,267 86,276 Total current assets 2,109,669 2,338,559 Marketable securities, non-current 36,467 94,113 Contract assets, non-current 2,811 3,447 Deferred contract acquisition costs, non-current 138,381 139,341 Property and equipment, net 41,964 32,740 Operating lease right-of-use assets 66,299 66,500 Intangible assets, net 24,054 7,905 Goodwill 121,371 87,304 Deferred tax assets 29,491 27,963 Other assets, non-current 73,935 67,398 Total assets $ 2,644,442 $ 2,865,270 Liabilities and stockholders' equity Current liabilities Accounts payable $ 16,885 $ 33,178 Accrued expenses and other current liabilities 123,134 83,923 Accrued compensation and employee benefits 44,991 112,355 Deferred revenue 530,857 569,464 Total current liabilities 715,867 798,920 Deferred revenue, non-current 141,169 135,843 Operating lease liabilities, non-current 73,433 74,230 Other liabilities, non-current 15,512 10,515 Total liabilities 945,981 1,019,508 Commitments and contingencies Stockholders' equity Class A common stock 5 5 Class B common stock 1 1 Treasury stock (724,224 ) (494,779 ) Additional paid-in capital 4,403,586 4,333,300 Accumulated other comprehensive income (loss) 29,523 (4,890 ) Accumulated deficit (2,010,430 ) (1,987,875 ) Total stockholders' equity 1,698,461 1,845,762 Total liabilities and stockholders' equity $ 2,644,442 $ 2,865,270 Expand UiPath, Inc. Condensed Consolidated Statements of Cash Flows in thousands (unaudited) Three Months Ended April 30, 2025 2024 Cash flows from operating activities Net loss $ (22,555 ) $ (28,736 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 3,253 4,902 Amortization of deferred contract acquisition costs 21,324 18,467 Net accretion on marketable securities (3,630 ) (9,268 ) Stock-based compensation expense 76,361 88,727 Charitable donation of Class A common stock 4,187 6,564 Non-cash operating lease expense 3,377 3,476 Provision for deferred income taxes 640 569 Other non-cash charges (credits), net 12,704 (966 ) Changes in operating assets and liabilities: Accounts receivable 197,443 162,444 Contract assets (9,460 ) (7,645 ) Deferred contract acquisition costs (13,954 ) (12,437 ) Prepaid expenses and other assets (13,074 ) (803 ) Accounts payable (15,025 ) 3,936 Accrued expenses and other liabilities 12,352 (4,195 ) Accrued compensation and employee benefits (72,534 ) (96,403 ) Operating lease liabilities, net (2,146 ) (3,912 ) Deferred revenue (60,261 ) (24,683 ) Net cash provided by operating activities 119,002 100,037 Cash flows from investing activities Purchases of marketable securities (153,353 ) (323,137 ) Maturities of marketable securities 111,083 360,141 Purchases of property and equipment (12,832 ) (1,238 ) Payments related to business acquisition, net of cash acquired (24,821 ) — Net cash (used in) provided by investing activities (79,923 ) 35,766 Cash flows from financing activities Repurchases of Class A common stock (227,525 ) (22,005 ) Proceeds from exercise of stock options 302 312 Payments of tax withholdings on net settlement of equity awards (12,195 ) (28,959 ) Proceeds from employee stock purchase plan contributions 4,214 4,916 Net cash used in financing activities (235,204 ) (45,736 ) Effect of exchange rate changes 17,570 (5,127 ) Net (decrease) increase in cash, cash equivalents, and restricted cash (178,555 ) 84,940 Cash, cash equivalents, and restricted cash - beginning of period 879,634 1,062,116 Cash, cash equivalents, and restricted cash - end of period $ 701,079 $ 1,147,056 Expand UiPath, Inc. in thousands, except percentages (unaudited) Three Months Ended April 30, 2025 2024 GAAP cost of licenses $ 1,268 $ 2,601 Less: Amortization of acquired intangible assets 240 844 Non-GAAP cost of licenses $ 1,028 $ 1,757 GAAP cost of subscription services $ 38,468 $ 36,754 Less: Stock-based compensation expense 3,874 4,276 Less: Amortization of acquired intangible assets 681 593 Less: Employer payroll tax expense related to employee equity transactions 70 177 Less: Restructuring costs 458 — Non-GAAP cost of subscription services $ 33,385 $ 31,708 GAAP cost of professional services and other $ 24,121 $ 15,970 Less: Stock-based compensation expense 2,728 2,470 Less: Employer payroll tax expense related to employee equity transactions 27 66 Less: Restructuring costs — — Non-GAAP cost of professional services and other $ 21,366 $ 13,434 GAAP gross profit $ 292,767 $ 279,787 GAAP gross margin 82 % 83 % Plus: Stock-based compensation expense 6,602 6,746 Plus: Amortization of acquired intangible assets 921 1,437 Plus: Employer payroll tax expense related to employee equity transactions 97 243 Plus: Restructuring costs 458 — Non-GAAP gross profit $ 300,845 $ 288,213 Non-GAAP gross margin 84 % 86 % Expand UiPath, Inc. in thousands, except percentages (unaudited) Three Months Ended April 30, 2025 2024 GAAP sales and marketing $ 159,661 $ 180,139 Less: Stock-based compensation expense 23,586 36,216 Less: Amortization of acquired intangible assets 456 552 Less: Employer payroll tax expense related to employee equity transactions 447 1,223 Less: Restructuring costs 1,981 — Non-GAAP sales and marketing $ 133,191 $ 142,148 GAAP research and development $ 94,839 $ 85,603 Less: Stock-based compensation expense 34,595 29,142 Less: Employer payroll tax expense related to employee equity transactions 390 630 Less: Restructuring costs (331 ) — Non-GAAP research and development $ 60,185 $ 55,831 GAAP general and administrative $ 54,679 $ 63,510 Less: Stock-based compensation expense 11,578 16,623 Less: Amortization of acquired intangible assets 31 39 Less: Employer payroll tax expense related to employee equity transactions 127 415 Less: Restructuring costs 903 — Less: Charitable donation of Class A common stock 4,187 6,564 Non-GAAP general and administrative $ 37,853 $ 39,869 GAAP operating loss $ (16,412 ) $ (49,465 ) GAAP operating margin (5 )% (15 )% Plus: Stock-based compensation expense 76,361 88,727 Plus: Amortization of acquired intangible assets 1,408 2,028 Plus: Employer payroll tax expense related to employee equity transactions 1,061 2,511 Plus: Restructuring costs 3,011 — Plus: Charitable donation of Class A common stock 4,187 6,564 Non-GAAP operating income $ 69,616 $ 50,365 Non-GAAP operating margin 20 % 15 % Expand UiPath, Inc. in thousands, except per share data (unaudited) Three Months Ended April 30, 2025 2024 GAAP net loss $ (22,555 ) $ (28,736 ) Plus: Stock-based compensation expense 76,361 88,727 Plus: Amortization of acquired intangible assets 1,408 2,028 Plus: Employer payroll tax expense related to employee equity transactions 1,061 2,511 Plus: Restructuring costs 3,011 — Plus: Charitable donation of Class A common stock 4,187 6,564 Tax adjustments to add-backs (3,299 ) 2,124 Non-GAAP net income $ 60,174 $ 73,218 GAAP net loss per share, basic and diluted $ (0.04 ) $ (0.05 ) GAAP weighted average common shares outstanding, basic and diluted 548,451 569,925 Non-GAAP weighted average common shares outstanding, basic 548,451 569,925 Plus: Dilutive potential common shares from outstanding equity awards 4,074 14,389 552,525 584,314 Non-GAAP net income per share, basic $ 0.11 $ 0.13 Non-GAAP net income per share, diluted $ 0.11 $ 0.13 Expand
