UiPath vs Zoho: Revenue, Profit and Business Model
UiPath had $1.6B of annual revenue in FY2026 and $282.3M of net income. Zoho had ~$1.4B of annual revenue in FY2025 and ~$370.2M of net income.
Latest financial snapshot
Financial summary
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.
Zoho
Zoho files its accounts with India's Registrar of Companies. Revenue from operations rose from ~$1.01 billion (₹8,703.6 crore) in FY23 to ~$1.21 billion (₹10,456 crore) in FY24 and ~$1.43 billion (₹12,313 crore) in FY25 (fiscal years end 31 March). Net profit was ~$329 million (₹2,836 crore) in FY23, ~$383 million (₹3,299 crore) in FY24 and ~$370 million (₹3,191 crore) in FY25. The company does not publish quarterly results. Hurun's 2024 India 500 list valued Zoho at about $12 billion (₹1,03,760 crore), ranking it among India's most valuable unlisted companies; this is an outside estimate, not a transaction price.
Revenue and profit by year
UiPath
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $1.6B | $282.3M | 17.5% | +12.7% | Source |
| FY2025 | $1.4B | -$73.7M | -5.2% | +9.3% | Source |
| FY2024 | $1.3B | -$89.9M | -6.9% | +23.6% | Source |
| FY2023 | $1.1B | -$328.4M | -31.0% | +18.6% | Source |
| FY2022 | $892.3M | -$525.6M | -58.9% | +46.8% | Source |
| FY2021 | $607.6M | -$92.4M | -15.2% | +80.8% | Source |
| FY2020 | $336.2M | -$519.9M | -154.7% | — | Source |
Zoho
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$1.4B | ~$370.2M | 25.9% | +17.8% | Source |
| FY2024 | ~$1.2B | ~$382.7M | 31.6% | +20.1% | Source |
| FY2023 | ~$1B | ~$329M | 32.6% | — | Source |
Where the revenue comes from
UiPath
- Term software licences
Not formally reported
Licences for robots, developer and user seats, orchestration and AI capabilities such as document processing and agents.
- Cloud and maintenance subscriptions
Not formally reported
Recurring subscriptions to the hosted platform and support. Annual recurring revenue was $1.853 billion at the end of fiscal 2026 and $1.938 billion at July 31, 2026.
- Professional services
Not formally reported
A smaller line covering implementation and training. Total revenue was $1.611 billion in fiscal 2026.
Zoho
- Zoho suite57
Cloud business applications including Zoho One, CRM, finance, Workplace, HR and support tools; ~$818 million (₹7,051 crore) in FY25.
- ManageEngine39
IT management and security software for IT departments; ~$564 million (₹4,863 crore) in FY25.
- Services3
Sale of services; ~$46.3 million (₹399 crore) in FY25.
Business model and strategy
UiPath
How it makes money
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.
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.
Competitive advantage
A large base of enterprise automation customers and a single platform that combines robots, agents, process discovery and governance.
Zoho
How it makes money
Zoho sells software subscriptions and licences directly to businesses of all sizes. In FY25 the Zoho suite, which covers CRM, finance, collaboration, HR, support and the Zoho One bundle, brought in ~$818 million (₹7,051 crore), or 57% of revenue. ManageEngine, which sells IT service management, endpoint, identity and network monitoring tools to IT teams, brought in ~$564 million (₹4,863 crore) (39%).
Growth strategy
Zoho grows mainly through organic product development. It adds new applications to its suite, sells upgrades to Zoho One, expands ManageEngine's cloud offerings, and opens local data centres to meet data residency rules in markets such as the UAE. It also invests in hiring and training outside large cities, including offices in rural Tamil Nadu.
Competitive advantage
Zoho's main advantages are its ownership structure and its integrated product line. With no outside investors, management can fund long R&D projects from operating cash flow. Its applications share a common platform and identity layer, which lets Zoho sell them together through Zoho One at a lower combined price than a stack of separate vendors.
Questions about UiPath vs Zoho
Which company has higher revenue — UiPath or Zoho?
UiPath had $1.6B (FY2026), while Zoho had ~$1.4B (FY2025). By latest annual revenue, UiPath is the larger business, with Zoho showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of UiPath vs Zoho?
UiPath has a market capitalisation of $7.2B. A public market cap figure for Zoho was not available (it may be privately held).
How does revenue per employee compare for UiPath and Zoho?
UiPath has $416k / employee in revenue per employee, while Zoho has $75k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do UiPath and Zoho make money?
UiPath and Zoho generate revenue in fundamentally different ways. UiPath: UiPath sells its automation platform mainly on a recurring basis. Zoho: Zoho sells software subscriptions and licences directly to businesses of all sizes.
Is UiPath bigger than Zoho?
By last reported revenue, UiPath ($1.6B (FY2026)) is the larger company compared to Zoho (~$1.4B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the UiPath vs Zoho overview