Smartsheet vs UiPath: Strategic Comparison

This in-depth comparison examines Smartsheet and UiPath across revenue, market value, business model, competitive positioning, and long-term growth strategy. Whether you are researching Smartsheet on its own, evaluating UiPath, or weighing the two companies side by side, the breakdown below highlights where each company leads and where the gap between Smartsheet and UiPath is widest.

On the headline numbers, annual revenue is $958.3M (FY2024) for Smartsheet and $1.6B (FY2026) for UiPath, while their respective market capitalizations stand at $8.4B and $7.2B. Both Smartsheet and UiPath are headquartered in United States. Their local markets and applicable rules may still differ.

Smartsheet: Smartsheet builds work management software that looks like a spreadsheet but behaves like a shared database, with Gantt, card, calendar and dashboard views, automated workflows and portfolio reporting. It is used by large enterprises and US government agencies for project and program tracking. Since its January 2025 take-private by Blackstone and Vista, the company has been repositioning itself around what it calls Intelligent Work Management, adding generative and agentic AI features announced at ENGAGE 2025. The company is headquartered in Bellevue, Washington.

Smartsheet and UiPath pursue distinct approaches to generating revenue, and understanding how each company operates is the foundation of any fair comparison between Smartsheet and UiPath.

Smartsheet business model: Smartsheet sells software subscriptions. Customers pay per user on tiered plans (Pro, Business, Enterprise) and can add premium capabilities such as Control Center, Dynamic View, Data Shuttle, Bridge, Resource Management and Brandfolder digital asset management. Subscriptions made up about 95% of revenue in its last public quarter (Q3 fiscal 2025: $273.7 million of $286.9 million), with the rest from professional services such as implementation and consulting. Growth follows a land-and-expand pattern: a team adopts Smartsheet, usage spreads across departments, and the account converts to an enterprise agreement.

UiPath business model: UiPath sells its automation platform mainly on a recurring basis. Revenue comes from term software licenses, cloud and maintenance subscriptions, and a smaller professional services line. Customers pay for robots, developer and user seats, orchestration, and AI capabilities such as document processing and agents. The company tracks annual recurring revenue (ARR) as its main operating metric. ARR reached $1.853 billion at the end of fiscal 2026 (January 31, 2026) and $1.938 billion at July 31, 2026. Much of the go-to-market work runs through global system integrators and cloud marketplaces alongside a direct enterprise sales force.

The durability of a company's moat often decides long-term winners. Here is how the competitive advantages of Smartsheet stack up against those of UiPath.

Smartsheet competitive advantage: Smartsheet's main advantage is a familiar grid interface that lets non-technical business users start quickly, paired with enterprise controls (Control Center for portfolio provisioning, Dynamic View for restricted sharing, admin governance) and a FedRAMP-authorized Smartsheet Gov environment for public-sector buyers.

UiPath competitive advantage: A large base of enterprise automation customers and a single platform that combines robots, agents, process discovery and governance.

Future prospects matter as much as current results. The growth strategies below explain how Smartsheet and UiPath each plan to expand from here.

Smartsheet growth strategy: Under CEO Rajeev Singh, Smartsheet is focusing on enterprise AI: the November 2025 ENGAGE launch added AI agents and data features to the platform. It has also cut costs through two rounds of layoffs, rebuilt its executive team and revamped its partner program in 2026 to lean more on channel sales.

UiPath growth strategy: UiPath is positioning its platform as an orchestration layer that coordinates AI agents, deterministic software robots and human approvals inside regulated business processes. It has added industry-specific capabilities through acquisitions, including Peak for AI-driven pricing and inventory decisions in 2025 and WorkFusion for financial crime compliance agents in 2026. In 2026 it also announced agentic solutions for fraud prevention and loan origination, an AI agent work with BDO for auditors, and a Snowflake integration.

A closer look at the financial trajectory of Smartsheet and UiPath rounds out the comparison.

Smartsheet: Smartsheet grew revenue from $67.0 million in fiscal 2017 to $958.3 million in fiscal 2024 (year ended January 31, 2024), a 25% increase that year, while the GAAP net loss narrowed from $215.6 million in fiscal 2023 to $104.6 million. In its last reported quarter as a public company, Q3 fiscal 2025, revenue rose 17% to $286.9 million, ARR grew 15% and the company posted $1.3 million of GAAP net income. As a private company since January 2025, it no longer publishes results. Smartsheet Inc. is a major American enterprise software company providing cloud-based work management and collaboration tools, sustaining a market valuation typically over $8 billion.

UiPath: UiPath's revenue grew from $607.6 million in fiscal 2021 to $1.611 billion in fiscal 2026. After years of GAAP losses, it reported net income of $282 million in fiscal 2026. In the second quarter of fiscal 2027 revenue was $410 million, up 13%, and it was the company's fourth straight GAAP-profitable quarter.