Financial Data and Key Metrics - Q1 revenue was $169 million, a 33% increase year-over-year [17] - Excluding the impact of the new SSP allocation, Q1 revenue was $170 million, a 34% increase year-over-year [18] - Dollar-based net retention rate (DBNRR) was 129% in Q1, driven by seat expansion (55%), price increases (35%), and tier upgrades (10%) [18] - Non-GAAP gross margins were 91% for the quarter, with SaaS representing over 28% of total revenue, growing 50% year-over-year [19] - Cash from operating activities was $38.1 million in Q1 FY 2025, compared to an $11 million use of cash in the same quarter last year [20] - Adjusted free cash flow was $37.4 million in Q1 FY 2025, compared to an $11.2 million use of cash in the same quarter last year [20] Business Line Data and Key Metrics - GitLab Duo adoption is growing, with customers leveraging AI features like GitLab Duo Chat for project status, planning, and code generation [4][9] - GitLab Duo Enterprise, combining developer-focused AI with enterprise features, is gaining traction, particularly for security tools like root cause analysis and vulnerability resolution [10] - The company closed a six-figure deal with a global financial services company, highlighting the demand for integrated security in the DevSecOps lifecycle [11] - GitLab Dedicated, a single-tenant SaaS solution, was adopted by a major European public service department to enhance collaboration while maintaining compliance [12] Market Data and Key Metrics - Partnerships with Google Cloud and AWS are accelerating cloud migration and expanding distribution [13] - GitLab received the 2024 Google Cloud Technology Partner of the Year Award for the fourth consecutive year [13] - The company is expanding its global presence and focusing on industries with complex security and compliance requirements, such as financial services [14] Company Strategy and Industry Competition - GitLab is investing in AI across the software development lifecycle, with a focus on security, compliance, and productivity [8][10] - The company is expanding its go-to-market strategy by adding more solution architects and global field CTOs to meet regional and industry-specific needs [14] - GitLab is differentiating itself through its integrated platform, which allows customers to replace multiple point solutions, reducing costs and improving efficiency [11][14] Management Commentary on Operating Environment and Future Outlook - Management highlighted strong Q1 performance, with significant revenue growth and margin expansion [3][16] - The company is optimistic about the large market opportunity in front of it, driven by the demand for AI and security features [15][21] - Management emphasized the importance of responsible growth, balancing revenue expansion with profitability [16][21] Other Important Information - The company completed its SSP analysis, resulting in a $4 million headwind for FY 2025, which has been factored into guidance [17][20] - GitLab's China joint venture, JiHu, incurred $3 million in non-GAAP expenses in Q1 FY 2025, with a goal to deconsolidate it in the future [21] - The company is preparing for the GitLab 17 product launch, which will include enhanced security scanning and governance controls [119] Q&A Session Summary Question: Update on pricing model and potential changes - GitLab's pricing model remains user-based, with a focus on productivity rather than compute costs [34] - The company is not planning to shift to usage-based pricing, as its value proposition lies in making developers more efficient [34] Question: Contribution of Duo Pro and Duo Enterprise to FY 2025 guidance - Early adoption of Duo Pro and Duo Enterprise is promising, but the full impact is expected in future fiscal years [93] - The company has included the potential contribution of these products in its FY 2025 guidance but has not broken out specific numbers [65] Question: RPO growth and seasonality - RPO growth was impacted by seasonality, with Q4 being the strongest quarter and Q1 the weakest [42] - The company remains confident in its visibility and growth trajectory [42] Question: Free cash flow drivers and seasonality - Strong Q1 free cash flow was driven by strong collections from Q4 and lower spending [83] - Seasonality will continue to impact cash flow, with Q1 being stronger due to Q4 collections [85] Question: Competitive positioning with AI features - GitLab believes its AI features, particularly in security and integration, give it a competitive edge [62] - The company is focused on replacing point solutions and integrating AI across the software development lifecycle [62][76] Question: Hiring trends and developer productivity - The company has not observed significant changes in hiring trends, with seat expansion remaining stable [69] - GitLab's AI features are expected to drive productivity gains, particularly in coding and security [75][76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2024 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40895 GITLAB INC. Not Applicable (Former name, former address and former fiscal year, if changed since la ...

GitLab Inc. (GTLB) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 175%. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.15, delivering a surprise of 87.50%. Over the last four quarters, the compan ...

"We continue to deliver strong top-line growth with first-quarter revenue growing 33% year-over-year," said Brian Robins, GitLab chief financial officer. "Operating margin expanded significantly year-over-year and, for the first time, we generated positive first quarter cash flow. With GitLab, customers consolidate their spending and deliver outcomes to the business more quickly, maximizing budgets, and increasing their competitiveness." First Quarter Fiscal Year 2025 Financial Highlights (in millions, exce ...

First Quarter Fiscal Year 2025 Highlights: Total revenue of $169.2 million, up 33% year-over-year Significant year-over-year GAAP and Non-GAAP operating margin expansion Operating cash flow of $38.1 million and Non-GAAP adjusted free cash flow of $37.4 million SAN FRANCISCO, June 03, 2024 (GLOBE NEWSWIRE) -- GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its first quarter fiscal year 2025, ended April 30, 2024. "GitLab continues to differentiate our platform with AI ...

Alphabet may have strong insight into both company's industries. When Google restructured its business as Alphabet (GOOG 0.72%) (GOOGL 0.83%) it broke out its Other Bets segment from its core Google operations. While many investors are familiar with some of those other bets like Waymo (autonomous vehicles) and Verily (life sciences), the segment also includes a $7 billion investment fund called CapitalG. CapitalG is a venture capital fund focused on growth-stage companies. Not only does it give these compan ...

Including AI capabilities to help organizations better secure their software with vulnerability explanation and remediation Enabling DevSecOps teams to quickly respond and remediate CI failures and code errors with AIpowered root cause analysis Empowering customers to measure the impact and ROI of their AI investments through the AI Impact Dashboard SAN FRANCISCO, May 16, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced new innovations ...

Olemedia Since its October 2021 IPO, GitLab (NASDAQ:GTLB), the cloud-based DevOps platform that helps software developers share their code and collaborate on projects, has lost around 47.5% of its value while the S&P 500 has gone up by more than 17% during the same period. Data by YCharts One of the reasons for this underperformance is annual revenues have increased but at a slower pace since 2021, it is loss-making and has been consuming cash in operations. However, progress was made on cash flow gener ...

The most recent trading session ended with GitLab Inc. (GTLB) standing at $53.36, reflecting a +1.7% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.Prior to today's trading, shares of the company had lost 4.96% over the past month. This has lagged the Computer and Technology sector's loss of 4.23% and the S&P 500's loss of 4.05% in that time.The investment community will be ...

The latest trading session saw GitLab Inc. (GTLB) ending at $56.38, denoting a +0.53% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.02%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.The the stock of company has fallen by 5.08% in the past month, leading the Computer and Technology sector's loss of 5.13% and undershooting the S&P 500's loss of 3.01%.Analysts and investors alike will be keeping a close eye on the performan ...