UiPath (PATH)
Connects software robots, APIs, and AI agents in governed enterprise workflows.
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UiPath sells software stand-ins that do the dull parts of office work — copying numbers between systems, reading invoices, filling in forms — to large organisations that pay every year to keep them running. That older, exact-to-the-letter business is the installed base and it pays the bills. The bet now is on AI helpers that decide rather than follow, and on a dispatcher that keeps robots, helpers and people in one queue.
Item facts: FY2026 · year ended Jan 31, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 16 more below
Core Automation Platform (Studio, Robots, Orchestrator)
Software stand-ins that click and type through other people's applications, plus the control room that schedules and polices them. The renewal engine: existing customers grow their spend year over year. About $1.4 billion of subscriptions are signed and not yet delivered.
Competes with Power Automate (Microsoft) · Automation 360 (Automation Anywhere)
In plain English
Think of a clerk who copies numbers out of one screen and types them into another, all day, without ever getting it wrong. UiPath sells a program that does exactly that work. Studio is where the steps get written down, the robots carry them out, and Orchestrator is the control room deciding which robot runs what, and when.
Large organisations pay every year for the right to run a set number of these stand-ins, and the hosted version now carries about $1.3 billion of yearly subscription value, roughly two-thirds of the company's total. Around 10,800 customers pay; a few hundred spending over a million dollars a year each supply about half the money.
US Public Sector Program
Federal agencies running the same robots a bank would. The Department of War widened its partnership to help pass its books-check, which Congress requires by 2028. UiPath has never said how big this is.
Competes with Agentic Auditor (Groundswell) · Power Automate in federal Microsoft estates (Microsoft)
In plain English
The United States government is one enormous back office, and its books have never passed a full outside check. Congress has set a deadline — a clean opinion by 2028 — and the Department of War has widened its work with UiPath to push toward it across the military services.
Agencies buy the same yearly subscriptions any company would, just through government purchasing rules, which is also the catch. When Washington changed hands at the start of 2025, deals simply stopped closing for a stretch and a quarter's new business landed under plan. Management calls federal one of its better-performing areas but has never put a number on it.
UiPath IXP
Software that reads invoices, claims and letters and pulls the numbers out. The clearest proof point: one manufacturer runs about 700,000 invoices a year through it at 96% accuracy. Watch whether accuracy stays high enough to drop the human check.
Competes with ABBYY Vantage (ABBYY) · Hypercell (Hyperscience)
In plain English
Every large organisation drowns in paper it did not design: supplier invoices in forty layouts, insurance claims, doctors' referral letters. Somebody has to open each one and type the important bits into a system. This is the software that does the opening and the typing; it is the newer of two UiPath products doing that job, with the older one still running at existing customers.
It comes as part of the platform subscription and is the piece most often added onto a robot deal — a health system pushes patient referrals into its records system this way. It leans on outside AI models from OpenAI and Google to read the messy ones, so both its cost and its accuracy ride partly on someone else's technology.
UiPath Agents and Agent Builder
Tools for building AI helpers that work out their own steps, with the older robots acting as their hands into company systems. Small money so far. Watch whether customers let outside vendors' helpers run inside UiPath's fences.
Competes with Agentforce (Salesforce) · Copilot Studio (Microsoft) · Agentic process automation (Automation Anywhere)
In plain English
A robot follows a script exactly; an AI helper is handed a goal and works out the steps itself. UiPath sells the workshop where a company builds its own helpers, tests them and turns them loose — and lets helpers built by other vendors run inside the same fences, under the same rules.
The robots stay useful because they are the hands: they reach into corporate systems and fetch what the helper needs. Cost is the argument management leans on — a helper that thinks at every single step runs up a bill with the AI model behind it, so the plain robots keep the steps that only need to be exact. The revenue here is sold inside the platform subscription.
UiPath Maestro
The dispatcher that hands a long job between robots, AI helpers, other vendors' systems and people. Roughly 3% of revenue. Management says it only shows up on the tangled deals, and talk of it dropped sharply on the latest call.
Competes with Camunda Orchestration (Camunda) · Pega Platform (Pegasystems) · Appian Platform (Appian)
In plain English
Nothing real is one step. A mortgage, an insurance claim, a new hire — each crawls through half a dozen systems and several sets of hands over days or weeks. Maestro holds the whole job, knows what has to happen next, and hands each piece to whoever should do it: a robot, an AI helper, another vendor's software, or a person.
It rides along with the platform subscription rather than selling on its own, and UiPath pitches it only when a process is knotted enough to need a dispatcher at all. One financial institution picked it over rival dispatchers to put everything on a single platform.
UiPath Test Cloud
Checks that software still works after a change — including UiPath's own robots. Mentions of it have climbed further than any other product on the calls. Demand rides a deadline: companies moving off old SAP systems must re-check everything.
Competes with Tosca (Tricentis) · ACCELQ test automation (ACCELQ) · Leapwork (Leapwork)
In plain English
Change one line in a big company's software and something three screens away quietly breaks. So before anything ships, somebody runs hundreds of checks by hand: click this, type that, does the right number come out. Test Cloud does those runs by itself, on the company's own applications and on the UiPath robots that drive them.
The buyer right now is a company hauling itself onto SAP's newer system, because the old one loses support and everything has to be re-checked on the way across. One such customer went from checking a tenth of its SAP setup to about half. Another put the saving at roughly $5 million.
WorkFusion Financial Crime Compliance Agents
A library of ready-made AI helpers that hunt laundered money and check who a bank's customers really are. UiPath paid $189.5 million in February 2026 — after the fiscal year closed, so its size here is an estimate, not a disclosed figure.
Competes with Actimize financial crime platform (NICE) · Verafin (Nasdaq) · Financial services solutions (Pegasystems)
In plain English
Banks are required by law to know who they are dealing with and to flag payments that look like laundered money. The work is mostly reading: names against watchlists, transfers against patterns, then writing up why something did or did not look suspicious. People do it in teams, and regulators expect the reasoning shown.
WorkFusion, a New York firm started in 2010, had already built AI helpers for those exact jobs, so UiPath bought it rather than building its own. Wells Fargo, NatWest Group and SMBC are named users of UiPath's ready-made helpers. Underneath, it runs on UiPath's own document reader and robots.
Professional Services and Other
UiPath's own engineers setting the software up and training the staff who will run it. About $49.7 million last year, kept deliberately small so that partners do most installs and the software stays high-margin.
Competes with Automation practice (Deloitte) · Automation practice (Accenture) · Automation practice (Cognizant)
In plain English
The least glamorous line on the list — and the one the company wants smallest.
Buy the software and somebody still has to plug it into your systems, shape the first automations and teach your people. UiPath does some of that itself and charges for the hours. Engineers cost money in a way that copying software does not, so most installation work is handed to consulting firms like Deloitte, Accenture and Cognizant, and UiPath keeps just enough of its own to go in early where a deal needs proof it will work. That team helped turn one insurance customer into a seven-figure expansion.
Core Automation Platform (Studio, Robots, Orchestrator)Software stand-ins that click and type through other people's applications, plus the control room that schedules and polices them. The renewal engine: existing customers grow their spend year over year. About $1.4 billion of subscriptions are signed and not yet delivered.Software stand-ins that click and type through other people's applications, plus the control room that schedules and polices them. The renewal engine: existing customers grow their spend year over year. About $1.4 billion of subscriptions are signed and not yet delivered.
In plain English
Think of a clerk who copies numbers out of one screen and types them into another, all day, without ever getting it wrong. UiPath sells a program that does exactly that work. Studio is where the steps get written down, the robots carry them out, and Orchestrator is the control room deciding which robot runs what, and when.
Large organisations pay every year for the right to run a set number of these stand-ins, and the hosted version now carries about $1.3 billion of yearly subscription value, roughly two-thirds of the company's total. Around 10,800 customers pay; a few hundred spending over a million dollars a year each supply about half the money.
Competes with Power Automate (Microsoft) · Automation 360 (Automation Anywhere)
US Public Sector ProgramFederal agencies running the same robots a bank would. The Department of War widened its partnership to help pass its books-check, which Congress requires by 2028. UiPath has never said how big this is.Federal agencies running the same robots a bank would. The Department of War widened its partnership to help pass its books-check, which Congress requires by 2028. UiPath has never said how big this is.
In plain English
The United States government is one enormous back office, and its books have never passed a full outside check. Congress has set a deadline — a clean opinion by 2028 — and the Department of War has widened its work with UiPath to push toward it across the military services.
Agencies buy the same yearly subscriptions any company would, just through government purchasing rules, which is also the catch. When Washington changed hands at the start of 2025, deals simply stopped closing for a stretch and a quarter's new business landed under plan. Management calls federal one of its better-performing areas but has never put a number on it.
Competes with Agentic Auditor (Groundswell) · Power Automate in federal Microsoft estates (Microsoft)
UiPath IXPSoftware that reads invoices, claims and letters and pulls the numbers out. The clearest proof point: one manufacturer runs about 700,000 invoices a year through it at 96% accuracy. Watch whether accuracy stays high enough to drop the human check.Software that reads invoices, claims and letters and pulls the numbers out. The clearest proof point: one manufacturer runs about 700,000 invoices a year through it at 96% accuracy. Watch whether accuracy stays high enough to drop the human check.
In plain English
Every large organisation drowns in paper it did not design: supplier invoices in forty layouts, insurance claims, doctors' referral letters. Somebody has to open each one and type the important bits into a system. This is the software that does the opening and the typing; it is the newer of two UiPath products doing that job, with the older one still running at existing customers.
It comes as part of the platform subscription and is the piece most often added onto a robot deal — a health system pushes patient referrals into its records system this way. It leans on outside AI models from OpenAI and Google to read the messy ones, so both its cost and its accuracy ride partly on someone else's technology.
Competes with ABBYY Vantage (ABBYY) · Hypercell (Hyperscience)
UiPath Agents and Agent BuilderTools for building AI helpers that work out their own steps, with the older robots acting as their hands into company systems. Small money so far. Watch whether customers let outside vendors' helpers run inside UiPath's fences.Tools for building AI helpers that work out their own steps, with the older robots acting as their hands into company systems. Small money so far. Watch whether customers let outside vendors' helpers run inside UiPath's fences.
In plain English
A robot follows a script exactly; an AI helper is handed a goal and works out the steps itself. UiPath sells the workshop where a company builds its own helpers, tests them and turns them loose — and lets helpers built by other vendors run inside the same fences, under the same rules.
The robots stay useful because they are the hands: they reach into corporate systems and fetch what the helper needs. Cost is the argument management leans on — a helper that thinks at every single step runs up a bill with the AI model behind it, so the plain robots keep the steps that only need to be exact. The revenue here is sold inside the platform subscription.
Competes with Agentforce (Salesforce) · Copilot Studio (Microsoft) · Agentic process automation (Automation Anywhere)
UiPath MaestroThe dispatcher that hands a long job between robots, AI helpers, other vendors' systems and people. Roughly 3% of revenue. Management says it only shows up on the tangled deals, and talk of it dropped sharply on the latest call.The dispatcher that hands a long job between robots, AI helpers, other vendors' systems and people. Roughly 3% of revenue. Management says it only shows up on the tangled deals, and talk of it dropped sharply on the latest call.
In plain English
Nothing real is one step. A mortgage, an insurance claim, a new hire — each crawls through half a dozen systems and several sets of hands over days or weeks. Maestro holds the whole job, knows what has to happen next, and hands each piece to whoever should do it: a robot, an AI helper, another vendor's software, or a person.
It rides along with the platform subscription rather than selling on its own, and UiPath pitches it only when a process is knotted enough to need a dispatcher at all. One financial institution picked it over rival dispatchers to put everything on a single platform.
Competes with Camunda Orchestration (Camunda) · Pega Platform (Pegasystems) · Appian Platform (Appian)
UiPath Test CloudChecks that software still works after a change — including UiPath's own robots. Mentions of it have climbed further than any other product on the calls. Demand rides a deadline: companies moving off old SAP systems must re-check everything.Checks that software still works after a change — including UiPath's own robots. Mentions of it have climbed further than any other product on the calls. Demand rides a deadline: companies moving off old SAP systems must re-check everything.
In plain English
Change one line in a big company's software and something three screens away quietly breaks. So before anything ships, somebody runs hundreds of checks by hand: click this, type that, does the right number come out. Test Cloud does those runs by itself, on the company's own applications and on the UiPath robots that drive them.
The buyer right now is a company hauling itself onto SAP's newer system, because the old one loses support and everything has to be re-checked on the way across. One such customer went from checking a tenth of its SAP setup to about half. Another put the saving at roughly $5 million.
Competes with Tosca (Tricentis) · ACCELQ test automation (ACCELQ) · Leapwork (Leapwork)
WorkFusion Financial Crime Compliance AgentsA library of ready-made AI helpers that hunt laundered money and check who a bank's customers really are. UiPath paid $189.5 million in February 2026 — after the fiscal year closed, so its size here is an estimate, not a disclosed figure.A library of ready-made AI helpers that hunt laundered money and check who a bank's customers really are. UiPath paid $189.5 million in February 2026 — after the fiscal year closed, so its size here is an estimate, not a disclosed figure.
In plain English
Banks are required by law to know who they are dealing with and to flag payments that look like laundered money. The work is mostly reading: names against watchlists, transfers against patterns, then writing up why something did or did not look suspicious. People do it in teams, and regulators expect the reasoning shown.
WorkFusion, a New York firm started in 2010, had already built AI helpers for those exact jobs, so UiPath bought it rather than building its own. Wells Fargo, NatWest Group and SMBC are named users of UiPath's ready-made helpers. Underneath, it runs on UiPath's own document reader and robots.
Competes with Actimize financial crime platform (NICE) · Verafin (Nasdaq) · Financial services solutions (Pegasystems)
Professional Services and OtherUiPath's own engineers setting the software up and training the staff who will run it. About $49.7 million last year, kept deliberately small so that partners do most installs and the software stays high-margin.UiPath's own engineers setting the software up and training the staff who will run it. About $49.7 million last year, kept deliberately small so that partners do most installs and the software stays high-margin.
In plain English
The least glamorous line on the list — and the one the company wants smallest.
Buy the software and somebody still has to plug it into your systems, shape the first automations and teach your people. UiPath does some of that itself and charges for the hours. Engineers cost money in a way that copying software does not, so most installation work is handed to consulting firms like Deloitte, Accenture and Cognizant, and UiPath keeps just enough of its own to go in early where a deal needs proof it will work. That team helped turn one insurance customer into a seven-figure expansion.
Competes with Automation practice (Deloitte) · Automation practice (Accenture) · Automation practice (Cognizant)
Named in filings, launches and programs
- Process Mining and Communications MiningProduct lineDigs through system logs and messages to find work worth automating; one customer surfaced over 300 candidate processes. Unmentioned on the two latest calls.
- PeakProduct lineUK firm bought March 2025 for $38.1M; its AI helpers set prices and manage stock. The Very Group signed a three-year pricing deal in July 2026.
- Healthcare vertical solutionsProduct line · RampingBilling, medical-record summaries, denied claims and pre-approvals, launched February 2026. A Latin American provider signed a seven-figure deal citing about $12M of benefits.
- Office of the CFO invoice solutionProduct line · RampingReady-made invoice handling for finance teams, first named May 2026; the anchor win is a Fortune Global 500 manufacturer.
- Financial services loan-origination solutionProduct line · AnnouncedA packaged workflow for lenders taking in loan applications, named as a recent launch on the March 2026 call.
- AutopilotProductThe ask-in-plain-English assistant layer across the platform; mentions faded from nine on a late-2024 call to zero or one on the three latest.
- ScreenPlayProductTurns typed instructions into automations that drive screens on their own, without anyone recording the steps first.
- CartographerProductGathers scattered knowledge about how work actually gets done into a single map of the work.
- DelegateProductHands individual tasks off to AI helpers from inside the applications people already use.
- UiPath for Coding AgentsProductTakes whatever a coding assistant writes and turns it into an automation UiPath can run and supervise in production.
- Maestro FlowProduct · AnnouncedA drawing board announced August 2026 where developers lay out how the work of their coding assistants should flow.
- AppsProductSimple business screens built with little coding, so staff can start and watch an automation from an ordinary form.
- Integration ServiceProductReady-made connections into other vendors' software, so automations can reach those systems without custom plumbing.
- Data FabricProductStores and shapes the data automations need, without anyone writing code to hold it.
- Action CenterProductThe inbox where an automation stops and asks a person to approve, correct or decide before it carries on.
- SAP Solution Extensions distributionCustomer programUiPath modules resold inside SAP's own automation product since October 2024; discussed eight times on one 2024 call and never mentioned since.
Process Mining and Communications MiningProduct line
Digs through system logs and messages to find work worth automating; one customer surfaced over 300 candidate processes. Unmentioned on the two latest calls.
PeakProduct line
UK firm bought March 2025 for $38.1M; its AI helpers set prices and manage stock. The Very Group signed a three-year pricing deal in July 2026.
Healthcare vertical solutionsProduct line · Ramping
Billing, medical-record summaries, denied claims and pre-approvals, launched February 2026. A Latin American provider signed a seven-figure deal citing about $12M of benefits.
Office of the CFO invoice solutionProduct line · Ramping
Ready-made invoice handling for finance teams, first named May 2026; the anchor win is a Fortune Global 500 manufacturer.
Financial services loan-origination solutionProduct line · Announced
A packaged workflow for lenders taking in loan applications, named as a recent launch on the March 2026 call.
AutopilotProduct
The ask-in-plain-English assistant layer across the platform; mentions faded from nine on a late-2024 call to zero or one on the three latest.
ScreenPlayProduct
Turns typed instructions into automations that drive screens on their own, without anyone recording the steps first.
CartographerProduct
Gathers scattered knowledge about how work actually gets done into a single map of the work.
DelegateProduct
Hands individual tasks off to AI helpers from inside the applications people already use.
UiPath for Coding AgentsProduct
Takes whatever a coding assistant writes and turns it into an automation UiPath can run and supervise in production.
Maestro FlowProduct · Announced
A drawing board announced August 2026 where developers lay out how the work of their coding assistants should flow.
AppsProduct
Simple business screens built with little coding, so staff can start and watch an automation from an ordinary form.
Integration ServiceProduct
Ready-made connections into other vendors' software, so automations can reach those systems without custom plumbing.
Data FabricProduct
Stores and shapes the data automations need, without anyone writing code to hold it.
Action CenterProduct
The inbox where an automation stops and asks a person to approve, correct or decide before it carries on.
SAP Solution Extensions distributionCustomer program
UiPath modules resold inside SAP's own automation product since October 2024; discussed eight times on one 2024 call and never mentioned since.