Financial Data and Key Metrics Changes - The meeting confirmed the presence of a quorum with a majority of voting power represented, allowing the meeting to proceed [3] - The total outstanding shares include 145,834,725 Class A shares and 19,253,009 Class B shares, with Class B shares having ten votes each [6] Business Line Data and Key Metrics Changes - No specific business line data or key metrics were discussed during the meeting Market Data and Key Metrics Changes - No specific market data or key metrics were discussed during the meeting Company Strategy and Development Direction and Industry Competition - The board of directors nominated three Class One directors for a three-year term, indicating a focus on stable leadership [7] - The appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026, was ratified, reflecting a commitment to maintaining strong financial oversight [8] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting Other Important Information - The meeting included three proposals for stockholder voting, all of which were approved: election of directors, ratification of the accounting firm, and advisory vote on executive compensation [10][11] Q&A Session Summary - No relevant questions were submitted by stockholders, leading to the conclusion of the Q&A session earlier than expected [12]

Core Viewpoint - GitLab's stock has declined over 20% this year due to conservative guidance, but the sell-off may be exaggerated given the company's strong revenue growth and profitability [1][13]. Group 1: Revenue Growth - GitLab operates a DevSecOps platform that integrates cybersecurity into software development, benefiting from increased software development driven by AI [2]. - The company reported a 27% year-over-year revenue increase to $214.5 million for Q1 of fiscal 2026, exceeding prior forecasts [6]. - Subscription revenue rose 29% to $194.5 million, while license revenue increased by 11% to $20 million [7]. - The dollar-based net retention rate was 122%, indicating existing customers are increasing their spending [8]. - The number of enterprise customers generating over $100,000 in annual recurring revenue (ARR) grew by 26% to 1,288 [9]. Group 2: Profitability and Financial Metrics - GitLab's adjusted earnings per share surged from $0.03 to $0.17 year-over-year, with a gross margin of 88% [11]. - The company generated $104.1 million in adjusted free cash flow, up from $37.4 million a year ago, and ended the quarter with $1.1 billion in cash and no debt [11][14]. - Remaining performance obligations (RPO) increased by 40% to $955.1 million, indicating strong future growth potential [10]. Group 3: Future Outlook - GitLab maintained its full-year fiscal 2026 revenue forecast between $936 million and $942 million, representing approximately 24% growth [12]. - The adjusted EPS guidance was raised to between $0.74 and $0.75, up from a previous range of $0.68 to $0.72 [12]. - The company is set to launch its agentic AI solution, GitLab Dual Workflow, this winter, which may further expand its market [5]. Group 4: Market Position and Valuation - Despite concerns about AI potentially reducing the need for coding, GitLab has seen increased coding activity and customer upgrades [13]. - The stock trades at a price-to-sales multiple of 7.5 times fiscal year 2026 estimates, with an enterprise value-to-sales ratio of about 6.4 times when excluding net cash [15]. - GitLab is characterized as a fast-growing SaaS company with high gross margins and strong free cash flow, making it an attractive investment opportunity [16].

Core Viewpoint - GitLab reported first-quarter earnings that slightly exceeded market expectations, yet its stock price fell significantly, prompting analysts to maintain a "buy" rating despite lowering target prices [1]. Group 1: Analyst Ratings and Target Price Adjustments - Needham reiterated a "buy" rating for GitLab but reduced the target price from $85 to $55, citing the smallest earnings surprise in history, only 0.7% above the high end of revenue guidance [2]. - CFRA maintained a "buy" rating while lowering the target price from $69 to $49, noting a slowdown in customer growth but highlighting strong remaining performance obligations (RPO) as a positive factor [3]. - UBS also reaffirmed a "buy" rating, decreasing the target price from $85 to $73, and reported a 27% year-over-year revenue growth, indicating GitLab's strong position in the software industry [4]. Group 2: Company Performance and Market Position - GitLab's revenue growth for the quarter was 27%, positioning it among the leaders in the software industry [4]. - The company is integrating artificial intelligence across its platform, with new features like Duo Chat and code suggestions available for premium customers [4]. - Despite a 10.6% drop in stock price to $43.37, GitLab's average target price from Wall Street analysts is $62.81, suggesting a potential upside of 45% from current levels [5].

Core Insights - GitLab Inc. reported a 27% year-over-year revenue growth to $214.5 million for Q1 FY2026, with a non-GAAP operating margin of 12% [1] - The company reaffirmed its guidance for approximately 24% top-line growth for FY2026, indicating strong market expansion opportunities [1] AI-Driven Product Adoption - GitLab Duo's first-time customer acquisition increased by 35% quarter-over-quarter, with significant wins including Highmark Health, the FBI, NatWest, and Volkswagen Digital Solutions [2][3] - 52% of total Annual Recurring Revenue (ARR) now comes from customers using the Ultimate tier, reflecting a growing demand for advanced security and AI features [2] Financial Performance - The company achieved a record adjusted free cash flow of $104.1 million, with a free cash flow margin of 49%, and a non-GAAP operating income of $26.1 million, compared to a loss of $3.8 million in the same period last year [4][5] - SaaS revenue, now constituting 30% of total revenue, increased by 35% year-over-year, driven by strong adoption of GitLab Dedicated [4] Strategic AI Platform Expansion - GitLab Duo's integration with Amazon Q and the expansion of agentic AI features have been pivotal, with AI-assisted test generation accelerating by over 35% during evaluations [6][7] - The company is focused on ongoing investment in native AI workflows and ecosystem interoperability to maintain relevance in evolving development environments [7] Future Outlook - Management guided Q2 FY2026 total revenue to be between $226 million and $227 million, and full-year FY2026 revenue to be between $936 million and $942 million, both implying a 24% year-over-year growth [8] - GitLab is set to publicly launch Duo Workflow (agentic AI) this winter and will provide further product innovation details at the GitLab 18 launch event on June 24 [9]

Core Insights - GitLab (NASDAQ: GTLB) is identified as a compelling investment opportunity that is currently underappreciated in the market [1] - The focus is on companies with a market capitalization of less than $10 billion, which are expected to have significant growth potential [1] - A long-term investment perspective is emphasized, suggesting that this approach may yield higher returns compared to short-term strategies [1] Investment Strategy - The investment strategy is primarily conservative, with occasional pursuits of opportunities that present a favorable risk-reward ratio [1] - The ideal companies should demonstrate a long-term capability of capital compounding, with a high compound annual growth rate that could potentially deliver tenfold returns or more [1] - A proportional allocation of investments is maintained to ensure overall portfolio stability while pursuing high-potential ventures [1]

Core Insights - GitLab reported first-quarter fiscal 2026 non-GAAP earnings of 17 cents per share, exceeding the Zacks Consensus Estimate by 13.33% and up from 3 cents per share in the same quarter last year [1] - Total revenues reached $214.4 million, surpassing the consensus mark by 0.91% and reflecting a year-over-year increase of 27%, driven by strong demand for its DevSecOps platform [1][7] Revenue Breakdown - Subscription revenues, which include self-managed and SaaS, accounted for 90.7% of total revenues, increasing by 28.6% year over year to $194.5 million, beating the Zacks Consensus Estimate by 3.33% [3] - SaaS revenues contributed 30% to total revenues and surged 35% year over year, attributed to the strong adoption of GitLab Dedicated, AI integration, and expanding customer engagement [3] Customer Metrics - Customers with more than $5K of Annual Recurring Revenue (ARR) rose to 10,104, a 13% increase year over year [4] - Customers with more than $100K of ARR increased to 1,288, up 26% year over year, indicating GitLab's success in attracting and retaining large enterprise customers [4] - The dollar-based Net Retention Rate was 122% in the reported quarter [4] Performance Obligations - Total Remaining Performance Obligation (RPO) surged 40% year over year to $955.1 million, with current RPO increasing 34% to $584.8 million [4] Product Innovations - GitLab announced the general availability of GitLab 18, featuring major innovations in core DevOps workflows, security, compliance, and AI capabilities [5] - The company also launched GitLab Duo with Amazon Q for Ultimate self-managed customers on AWS and achieved FedRAMP Moderate Authority to Operate for GitLab Dedicated for Government [5] Operating Expenses - Non-GAAP research & development expenses increased by 22.3% year over year to $51.1 million, while sales and marketing expenses rose 15.1% to $85.5 million [6] - General and administrative expenses decreased by 25.3% to $30.7 million, resulting in an operating income of $26.1 million compared to a loss of $3.8 million in the previous year [6] Cash Flow and Balance Sheet - As of April 30, 2025, cash and cash equivalents and short-term investments totaled $11.05 billion, up from $9.92 billion as of January 31, 2025 [7] - The company generated a cash flow from operations of $106.3 million in the reported quarter, compared to an operating cash outflow of $63.2 million in the previous quarter [8] Guidance - For Q2 fiscal 2026, GitLab expects revenues between $226 million and $227 million, indicating approximately 24% year-over-year growth [9] - Non-GAAP operating income is anticipated to be in the range of $23-$24 million for the fiscal second quarter [9] - For fiscal 2026, GitLab projects revenues between $936 million and $942 million, also indicating growth of approximately 24% year over year [10]

GitLab TodayGTLBGitLab$44.12 -4.39 (-9.06%) 52-Week Range$37.90▼$74.18Price Target$65.38Add to WatchlistThere was absolutely nothing wrong with GitLab’s NASDAQ: GTLB Q1 earnings report and guidance. Nothing that is, except a wee bit of tepidness relative to analysts' relatively high bar. The sticking point, the cause for the 12% post-release price plunge, is that the guidance for Q2 revenue and the full year is slightly below the forecasts.  By slight, that means the top end of the range aligns with the co ...

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Shares of GitLab Inc (NASDAQ:GTLB) are deep in the red this morning, off 10% at $43.68, after software company's disappointing second quarter and full-year guidance overshadowed a first-quarter earnings beat. No fewer than 14 brokerages have chimed in price-target cuts, the steepest coming from JPMorgan Securities to $52 from $58.Today's bear gap has the software stock eyeing its worst single-session drop since April 3. With a now 22% year-to-date deficit, shares of GTLB remain under the pressure of the ove ...

Core Insights - GitLab Inc. reported a revenue of $732.4 million for the quarter ended April 2025, reflecting a year-over-year increase of 332.9% [1] - The earnings per share (EPS) for the quarter was $0.17, up from $0.03 in the same quarter last year, resulting in an EPS surprise of +112.50% against the consensus estimate of $0.08 [1] Revenue Breakdown - Revenue from License-self-managed and other was $20.03 million, slightly below the average estimate of $21.36 million, with a year-over-year change of +11.2% [4] - Subscription revenue from self-managed and SaaS totaled $194.48 million, exceeding the average estimate of $191.15 million, representing a year-over-year increase of +28.6% [4] - Subscription revenue from SaaS was reported at $64.19 million, in line with the two-analyst average estimate of $64.10 million [4] - License revenue from self-managed was $15.03 million, below the two-analyst average estimate of $16.64 million [4] - Subscription revenue from self-managed reached $130.30 million, surpassing the two-analyst average estimate of $127.34 million [4] - Revenue from License-Professional services and other was $5 million, exceeding the average estimate of $4.37 million based on two analysts [4] Stock Performance - GitLab's shares have returned -9.1% over the past month, contrasting with the Zacks S&P 500 composite's +6.9% change [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]