Core Insights - GitLab Inc. reported quarterly earnings of $0.17 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and showing significant growth from $0.03 per share a year ago, resulting in an earnings surprise of 112.50% [1] - The company posted revenues of $732.4 million for the quarter ended April 2025, which was 2.35% below the Zacks Consensus Estimate, but a substantial increase from $169.19 million year-over-year [2] - GitLab has surpassed consensus EPS estimates in all four of the last quarters and has topped revenue estimates three times during the same period [2] Earnings Outlook - The sustainability of GitLab's stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.15 on revenues of $225.27 million, while for the current fiscal year, the estimate is $0.70 on revenues of $936.51 million [7] Industry Context - The Internet - Software industry, to which GitLab belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked using tools like the Zacks Rank [5][6]

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, 2025 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. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Financial Data and Key Metrics Changes - First quarter revenue increased by 27% year over year to $215 million, with a non-GAAP operating margin of 12% [7][23] - Non-GAAP gross margin was 90% for the quarter, with non-GAAP operating income of $26.1 million compared to a loss of $3.8 million in the same quarter last year [26][27] - Adjusted free cash flow reached $104.1 million, representing a record adjusted free cash flow margin of 49% [29] Business Line Data and Key Metrics Changes - The number of customers with ARR of at least $5,000 increased to 10,104, contributing over 95% of total ARR [24] - The larger customer cohort with ARR of $100,000 plus increased by 26% year over year, reaching 1,288 [24] - Dollar-based net retention rate (DBNRR) was 122%, driven by seat expansion (80%), increased customer yield (5%), and tier upgrades (15%) [25] Market Data and Key Metrics Changes - Total remaining performance obligations (RPO) grew by 40% year over year to $955.1 million, while current RPO (CRPO) grew by 34% year over year to $584.8 million [25] - SaaS revenue accounted for 30% of total revenue and grew by 35% year over year [26] Company Strategy and Development Direction - The company positions itself as the only AI-native, cloud-agnostic, model-neutral DevSecOps platform, emphasizing its unique capabilities in the software development lifecycle [8][9] - The strategic focus includes enhancing security capabilities and integrating AI throughout the platform to drive maximum ROI for customers [11][12] - The company aims to unlock productivity improvements through human and agent collaboration, with plans to introduce new AI capabilities in the upcoming GitLab 18 launch event [22][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate sustainable growth and enhance profitability despite evolving market conditions [23][28] - The outlook for the second quarter expects total revenue of $226 million to $227 million, representing a growth rate of approximately 24% year over year [28] - Management noted that the macroeconomic environment remains cautious, but demand for the platform continues to be strong [108] Other Important Information - The company achieved FedRAMP moderate authorization for its dedicated SaaS solution, which is expected to benefit its public sector business [19] - GitLab Duo's adoption continues to grow, with a 35% increase in customers purchasing GitLab Duo quarter over quarter [16] Q&A Session Summary Question: Customer conversations regarding AI - Management noted that AI is a central topic in customer discussions, with teams looking to leverage AI for productivity and innovation [36] Question: Growth metrics and deal linearity - Management confirmed that the quarter's performance was consistent with expectations, with a mix favoring SaaS and back-end weighted linearity [42][43] Question: Customer additions and pricing changes - Management indicated that while there was a deceleration in new customer additions, the financial impact was minimal, and the focus remains on increasing the volume of new orders [50][51] Question: Impact of AI on developer job growth - Management believes that AI will increase the number of code creators and overall code volume, sustaining demand for developers [58][62] Question: Enhancements with GitLab 18 - Management highlighted significant innovations in GitLab 18, including improved security features and AI capabilities, which will be showcased in the upcoming launch event [100][102]

Financial Data and Key Metrics Changes - First quarter revenue increased by 27% year over year to $215 million, with a non-GAAP operating margin of 12% [5][24] - Non-GAAP gross margin was 90% for the quarter, with non-GAAP operating income of $26.1 million compared to a loss of $3.8 million in the same quarter last year [28][29] - Adjusted free cash flow reached $104.1 million, representing a record adjusted free cash flow margin of 49% [31] Business Line Data and Key Metrics Changes - The SaaS segment accounted for 30% of total revenue, growing 35% year over year [28] - The number of customers with ARR of at least $5,000 reached 10,104, contributing over 95% of total ARR [25] - The dollar-based net retention rate (DBNRR) was 122%, driven by seat expansion (80%), increased customer yield (5%), and tier upgrades (15%) [26][27] Market Data and Key Metrics Changes - Total remaining performance obligations (RPO) grew by 40% year over year to $955.1 million, while current RPO (CRPO) grew by 34% year over year to $584.8 million [27] - The larger customer cohort of $100,000+ in ARR increased by 26% year over year, reaching 1,288 [25] Company Strategy and Development Direction - The company positions itself as the only AI-native, cloud-agnostic, model-neutral DevSecOps platform, emphasizing its unique capabilities in the software development lifecycle [6][7] - GitLab aims to enhance its AI capabilities and integrate them throughout the platform, focusing on security and compliance as key drivers for adoption [10][22] - The company is expanding its market presence through partnerships, such as with AWS, to enhance customer engagement and showcase its solutions [13][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate sustainable growth and enhance profitability despite evolving market conditions [24][30] - The outlook for the second quarter expects total revenue of $226 million to $227 million, representing a growth rate of approximately 24% year over year [30] - Management noted that the macroeconomic environment remains cautious, but demand for the platform continues to be strong [104] Other Important Information - GitLab achieved FedRAMP moderate authorization for its dedicated SaaS solution, which is expected to boost its public sector business [19] - The company is on track to launch GitLab Duo Workflow, an AI solution, in the upcoming months [13][33] Q&A Session Summary Question: Customer Conversations on AI - Management noted that AI is a central topic in customer discussions, with teams looking to leverage AI for productivity and innovation [38] Question: Growth Metrics and Deal Linearity - Management confirmed that the quarter's performance was consistent with expectations, with a mix favoring SaaS and back-end weighted linearity [44][45] Question: Customer Additions and Pricing Changes - Management indicated that while there was a deceleration in new customer additions, it did not impact financials significantly [49][51] Question: AI's Impact on Developer Job Growth - Management believes that AI will increase the number of code creators and overall code volume, benefiting GitLab's business model [60][61] Question: Enhancements with GitLab 18 - Management highlighted the focus on creating value through AI integration and enhancing collaboration between humans and agents [68][70]

Core Insights - GitLab reported quarterly earnings of 17 cents per share, exceeding the analyst consensus estimate of 15 cents, with quarterly revenue of $214.51 million, surpassing the Street estimate of $213.16 million [1][2] Financial Performance - For the first quarter of fiscal 2026, GitLab's revenue growth reflects the effectiveness of its AI-native DevSecOps platform, which aims to enhance software delivery for customers [2] - The company anticipates second-quarter adjusted EPS between 16 and 17 cents, slightly above the 16 cent estimate, and revenue between $226 million and $227 million, compared to the $227.16 million analyst estimate [3] Customer Metrics - GitLab reported an increase in customers with more than $5,000 of ARR to 10,104, marking a 13% year-over-year growth [4] - Customers with more than $100,000 of ARR reached 1,288, reflecting a 26% year-over-year increase [4] - The Dollar-Based Net Retention Rate stood at 122% [4] Contractual Obligations - Total Remaining Performance Obligations (RPO) grew 40% year-over-year to $955.1 million, while Current Remaining Performance Obligations (cRPO) increased 34% to $584.8 million [4]

San Francisco (June 10, 2025) -All-Remote-GitLab Inc. (NASDAQ: GTLB), the most comprehensive, intelligent DevSecOps platform, today reported financial results for its first quarter fiscal year of 2026, ended April 30, 2025. "First quarter fiscal year 2026 results underscore the power of our AI-native DevSecOps platform to help customers deliver mission-critical software. We're giving every developer the AI-driven edge they need to innovate faster and more efficiently," said Bill Staples, GitLab chief execut ...

Earnings Report - GitLab Inc. is set to release its first-quarter earnings results on June 10, with expected earnings of 15 cents per share, an increase from 3 cents per share in the same period last year [1] - The projected quarterly revenue for GitLab is $213.21 million, compared to $169.19 million a year earlier [1] Recent Performance - On March 3, GitLab reported quarterly earnings of 33 cents per share, surpassing the analyst consensus estimate of 23 cents [2] - GitLab shares experienced a slight decline of 0.3%, closing at $48.64 on the preceding Monday [2] Analyst Ratings - Wells Fargo analyst Michael Turrin maintained an Overweight rating but reduced the price target from $85 to $65 [4] - Keybanc analyst Eric Heath also maintained an Overweight rating, lowering the price target from $80 to $60 [4] - DA Davidson analyst Gil Luria kept a Neutral rating and cut the price target from $60 to $45 [4] - Truist Securities analyst Joel Fishbein maintained a Buy rating while slashing the price target from $90 to $80 [4] - JP Morgan analyst Pinjalim Bora maintained a Neutral rating and reduced the price target from $65 to $62 [4]

Group 1: Cognyte Software (CGNT) - Cognyte is positioned strongly with a significant number of large, multi-million dollar contracts, supporting fiscal 2026 revenue guidance of approximately $392 million [2] - The revenue visibility from Cognyte's cRPO balance exiting fiscal 2025 is around 86%, a decrease from 89% in fiscal 2025 and 94% in fiscal 2024 [2] - Cognyte announced over $40 million in total contract value recently, with projected fiscal first-quarter revenue and adjusted EPS estimates of $94.2 million and $0.02, compared to consensus estimates of $94 million and $0.01 [3][7] Group 2: GitLab Inc (GTLB) - GitLab is expected to report sustained revenue outperformance and improving operating margins, with a potential 'catch-up trade' due to recent underperformance relative to other Data Infrastructure vendors [4] - Investor concerns focus on GitLab's competitive position against GitHub, seat growth for the Premium SKU, and long-term growth sustainability after the Premium price increase [4] - The upcoming launch of GitLab 18 in May 2025 allows Premium SKU customers to purchase Duo Enterprise without upgrading to the Ultimate SKU, raising questions about the success of up-tiering to Ultimate [5] - Management has demonstrated success in driving First Orders with Ultimate, despite investor concerns regarding the durability and pricing of AI-native capabilities in the DevSecOps ecosystem [6]

Core Insights - GitLab (GTLB) is expected to report first-quarter fiscal 2026 results on June 10, 2025, with anticipated revenues between $212 million and $213 million, reflecting a year-over-year growth of 25-26% [1][9] - Non-GAAP earnings are projected to be between 14 cents and 15 cents per share, with the Zacks Consensus Estimate for revenues at $212.52 million, indicating a 25.61% increase from the previous year [1][2] Revenue Growth Drivers - The expected performance in the first quarter is attributed to ongoing investments in innovation within GitLab's core DevOps platform, security, and AI-driven solutions [3] - The expansion of GitLab Dedicated, which grew nearly 90% year-over-year in the prior quarter, is likely to have contributed to revenue growth, appealing to customers seeking secure, single-tenant SaaS solutions [4][9] Client Expansion and Partnerships - GitLab's growing customer base, including notable clients such as Delta AirLines, NatWest Group, Alphabet, and Amazon, is anticipated to drive growth in the first quarter [5][9] - Delta AirLines' adoption of GitLab Dedicated is expected to enhance product adoption and recurring revenues [6] - NatWest Group's expanded use of GitLab Ultimate and GitLab Dedicated reflects rising demand for secure solutions in regulated sectors, likely aiding revenue momentum [7] Collaborative Initiatives - GitLab's collaboration with Amazon Q to launch an AI-powered DevSecOps solution is designed to improve the developer experience and is expected to positively impact customer engagement [8][10] - Continued collaboration with Alphabet's Google Cloud platform aims to enhance GitLab's scalability and intelligence in its offerings, further increasing customer engagement [10]

Software development facilitator GitLab (GTLB 2.89%) was facilitating some handsome returns for shareholders on Thursday, thanks in no small part to an optimistic new analyst note. In late-session trading the company's share price was up by almost 4%, and doing much better than the slumping S&P 500 index with its 0.2% decline.Bullish pundit take reiteratedThat note was published in anticipation of the release of GitLab's earnings for the fiscal first quarter of 2026, which is scheduled for next Tuesday, Jun ...