GitLab Inc. (GTLB) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced earnings of $0.03, delivering a surprise of 175%. Over the last four quarters, the company has surpas ...

Financial Performance - Total revenue for Q2 FY 2025 reached $182.6 million, representing a 31% year-over-year increase[1][2] - Total revenue for the three months ended July 31, 2024, was $182.6 million, a 30.7% increase from $139.6 million in the same period last year[21] - Subscription revenue (self-managed and SaaS) reached $163.2 million, up 33.8% from $122.1 million year-over-year[21] - Gross profit for the six months ended July 31, 2024, was $311.6 million, compared to $237.8 million for the same period in 2023, reflecting a 31.0% increase[21] - Net income attributable to GitLab for the three months ended July 31, 2024, was $12.9 million, compared to a net loss of $50.1 million in the same period last year[21] - GAAP net income attributable to GitLab common stockholders was $12,949 thousand for the three months ended July 31, 2024, compared to a loss of $50,080 thousand in the prior year[24] - Non-GAAP diluted net income per share for FY 2025 is projected to be between $0.45 and $0.47[7] Customer Metrics - Customers with more than $5,000 of Annual Recurring Revenue (ARR) increased by 19% year-over-year to 9,314[3] - Dollar-Based Net Retention Rate was reported at 126%[4] Obligations and Liabilities - Total Remaining Performance Obligations (RPO) grew 51% year-over-year to $747.9 million, with current RPO (cRPO) increasing 42% to $475.0 million[4] - The total liabilities decreased to $688.3 million as of July 31, 2024, from $699.9 million at the end of the previous period[20] - GitLab's total current liabilities were $666.8 million as of July 31, 2024, slightly up from $662.1 million in the previous period[20] Cash Flow and Investments - Cash and cash equivalents increased to $438.6 million as of July 31, 2024, up from $288.0 million at the beginning of the fiscal year[18] - Net cash provided by operating activities was $11,697 for the three months ended July 31, 2024, down from $27,109 in the same period last year[22] - Net cash provided by financing activities was $12,912 for the three months ended July 31, 2024, down from $18,015 in the same period last year[22] - Purchases of short-term investments decreased to $118,866 for the three months ended July 31, 2024, compared to $276,132 in the same period last year[22] Operating Expenses - Total operating expenses increased to $406.3 million for the six months ended July 31, 2024, from $350.1 million in the prior year, representing a 16.1% rise[21] - Research and development expenses rose to $61.3 million for the three months ended July 31, 2024, up from $49.0 million in the prior year, indicating a focus on innovation[21] - Sales and marketing expenses on a GAAP basis were $97,778 thousand for the three months ended July 31, 2024, up from $92,116 thousand in the same period last year[23] Profitability Metrics - Non-GAAP gross profit for the same period was $165,623 thousand, up from $127,150 thousand, indicating a 30% increase year-over-year[23] - The adjusted free cash flow for the three months ended July 31, 2024, was $10,846 thousand, compared to $26,832 thousand for the same period in 2023[25] - GitLab's GAAP loss from operations improved to $(41,005) thousand for the three months ended July 31, 2024, from $(54,057) thousand in the same period last year[23] Future Projections - For Q3 FY 2025, GitLab expects revenue between $187.0 million and $188.0 million[7]

GitLab (GTLB) shares have plunged 25.3% year to date (YTD), underperforming the Zacks Computer & Technology sector's growth of 21.7% and the Zacks Internet Software industry's return of 14.5%. The underperformance in GitLab shares can be attributed to modest top-line growth expectations in fiscal 2025 due to the challenging macroeconomic environment. It also includes a $4 million headwind related to GTLB's stand-alone selling price analysis. Although the latest products like GitLab Duo and GitLab Duo Pro bo ...

SAN FRANCISCO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ: GTLB), the most comprehensive AI-powered DevSecOps platform, today announced that GitLab Chief Financial Officer Brian Robins will present at the Piper Sandler Growth Frontiers Conference in Nashville, Tenn, on Tuesday, September 10th, 2024. The fireside chat is scheduled for 1:00 p.m. Central Time and will be webcast live at the following link: https://event.webcasts.com/starthere.jsp?ei=1683706&tp_key=38e2d90b5d A link to ...

SAN FRANCISCO, Aug. 22, 2024 (GLOBE NEWSWIRE) -- All Remote -- GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced it was named a Leader in the first-ever 2024 Gartner Magic Quadrant for AI Code Assistants1. The Magic Quadrant, which evaluated 12 vendors, recognized GitLab as a Leader based on "Completeness of Vision" and "Ability to Execute." According to Gartner, "Leaders in the Magic Quadrant for AI Code Assistants excel in delivering comprehensive AI-powered capabilities t ...

GitLab Inc. (GTLB) shares rallied 9.3% in the last trading session to close at $55.39. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.8% gain over the past four weeks. This company is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of +800%. Revenues are expected to be $176.34 million, up 26.3% from the year-ago quarter. Gitlab is a m ...

I l Thomas Barwick Ripe Acquisition Target Buy GitLab Stock On Dips a rather rich premium. Data by YCharts The time to load up is when market doldrums allows the stock to dip back into the mid-$40s where GitLab was trading at 7x FY26 revenue targets. The company is already profitable with a cash balance topping $1 billion, so the BoD shouldn't be desperate to unload the business for financial reasons. Outside the CEO cancer scare, GitLab really has no reason to unload the stock now outside a massive premium ...

GitLab, a developer platform company backed by Alphabet's Google, is reportedly considering a sale. Its shares rose Wednesday following reports of a possible deal. Datadog, a cloud-scale monitoring company, is among those interested in buying GitLab, Reuters reported. Alphabet is a GitLab investor, holding a 22% voting stake in the company. Its shares were up about 10% in early trading. The stock remains in the read for the year so far. Alphabet, through Google Ventures, is an investor in GitLab and holds a ...

MiNK Therapeutics, Inc. (INKT) : This biotechnology company has seen the Zacks Consensus Estimate for its current year earnings increasing 28.8% over the last 60 days. Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: Melco Resorts & Entertainment Limited (MLCO) : This gaming and resort company has seen the Zacks Consensus Estimate for its current year earnings increasing 7.1% over the last 60 days. Heron Therapeutics, Inc. (HRTX) : This biotechnology company has seen the Zacks Consen ...

GitLab Inc. (GTLB) closed the last trading session at $49.45, gaining 1.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $66.24 indicates a 34% upside potential. The mean estimate comprises 21 short-term price targets with a standard deviation of $10.04. While the lowest estimate of $50 indicates a 1.1% increase from the current price level, the most optimistic analyst expects th ...