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Gitlab (GTLB) - 2025 Q4 - Annual Results
GTLBGitlab (GTLB)2025-03-03 21:11

Revenue Growth - Total revenue for Q4 FY 2025 reached 211.4million,representinga29211.4 million, representing a 29% year-over-year growth[6] - Fiscal Year 2025 total revenue was 759.2 million, up 31% from 579.9millioninFY2024[7]−TotalrevenueforthethreemonthsendedJanuary31,2025,was579.9 million in FY 2024[7] - Total revenue for the three months ended January 31, 2025, was 211,431 thousand, representing a 29% increase from 163,779thousandinthesameperiodof2024[31]−Subscriptionrevenuefromself−managedandSaaSofferingsreached163,779 thousand in the same period of 2024[31] - Subscription revenue from self-managed and SaaS offerings reached 185,562 thousand for the three months ended January 31, 2025, up 31% from 142,026thousandintheprioryear[31]Profitability−Non−GAAPoperatingincomeforQ4FY2025was142,026 thousand in the prior year[31] Profitability - Non-GAAP operating income for Q4 FY 2025 was 37.4 million, compared to 13.2millioninQ4FY2024,markinga13.2 million in Q4 FY 2024, marking a 24.2 million increase[8] - GAAP net income attributable to GitLab for Q4 FY 2025 was 10.8million,asignificantimprovementfromalossof10.8 million, a significant improvement from a loss of 36.9 million in Q4 FY 2024[8] - The company reported a net income of 10,207thousandforthethreemonthsendedJanuary31,2025,comparedtoanetlossof10,207 thousand for the three months ended January 31, 2025, compared to a net loss of 37,972 thousand in the same period of 2024[31] - GitLab reported a non-GAAP net income attributable to common stockholders of 56.7millionforthelatestquarter,comparedto56.7 million for the latest quarter, compared to 25.0 million in the same quarter last year, representing a 126% increase[37] - The GAAP net income per share, diluted, was 0.06,asignificantimprovementfromalossof0.06, a significant improvement from a loss of 0.24 per share in the same quarter last year[37] Cash Flow and Expenses - Cash provided by operating activities for the three months ended January 31, 2025, was 63,222,000,comparedto63,222,000, compared to 24,853,000 in 2024[33] - Total cash used in investing activities was 21,941,000forthethreemonthsendedJanuary31,2025,downfrom21,941,000 for the three months ended January 31, 2025, down from 35,772,000 in 2024[33] - Cash provided by financing activities was 11,693,000forthethreemonthsendedJanuary31,2025,comparedto11,693,000 for the three months ended January 31, 2025, compared to 14,992,000 in 2024[33] - Operating expenses for the fiscal year ended January 31, 2025, totaled 812,932thousand,anincreasefrom812,932 thousand, an increase from 707,638 thousand in the previous fiscal year[31] - Stock-based compensation expense for the three months ended January 31, 2025, was 46,636,000,slightlyupfrom46,636,000, slightly up from 43,017,000 in 2024[36] Assets and Liabilities - Cash and cash equivalents decreased to 227,649thousandasofJanuary31,2025,from227,649 thousand as of January 31, 2025, from 287,996 thousand as of January 31, 2024[29] - Total assets increased to 1,399,263thousandasofJanuary31,2025,comparedto1,399,263 thousand as of January 31, 2025, compared to 1,321,403 thousand as of January 31, 2024[29] - Deferred revenue increased to 74,240,000forthethreemonthsendedJanuary31,2025,from74,240,000 for the three months ended January 31, 2025, from 50,189,000 in 2024[33] - GitLab's accumulated deficit as of January 31, 2025, was (1,163,722)thousand,slightlyincreasingfrom(1,163,722) thousand, slightly increasing from (1,161,288) thousand as of January 31, 2024[29] Future Guidance - GitLab expects Q1 FY 2026 revenue guidance between 212.0millionand212.0 million and 213.0 million[11] - Non-GAAP diluted net income per share for FY 2026 is projected to be between 0.68and0.68 and 0.72[11] Operational Highlights - Customers with more than 5,000ofARRincreasedto9,893,a155,000 of ARR increased to 9,893, a 15% year-over-year growth[15] - Dollar-Based Net Retention Rate was reported at 123%[15] - GitLab announced the general availability of GitLab Duo Self-Hosted, enhancing data privacy and security for customers[15] - The company appointed Ian Steward as Chief Revenue Officer, effective May 3, 2025[3] Other Financial Metrics - The Dollar-Based Net Retention Rate is calculated by comparing Current Period ARR to Prior Period ARR, indicating customer growth and retention[26] - The company experienced a gross profit of 188,562 thousand for the three months ended January 31, 2025, compared to 147,790thousandinthesameperiodof2024[31]−GrossprofitonaGAAPbasisforthethreemonthsendedJanuary31,2025,was147,790 thousand in the same period of 2024[31] - Gross profit on a GAAP basis for the three months ended January 31, 2025, was 188,562,000, compared to 147,790,000in2024,reflectingagrossmarginof89147,790,000 in 2024, reflecting a gross margin of 89%[36] - Non-GAAP gross profit for the same period was 192,755,000, with a gross margin of 91%, up from 149,951,000 and 92% in 2024[36] Foreign Exchange and Impairment - The company reported a foreign exchange loss of 3.9millioninthelatestquarter,comparedtoagainof3.9 million in the latest quarter, compared to a gain of 2.6 million in the same quarter last year[37] - The company recorded an impairment of equity method investment of 8.9millioninthelatestquarter[37]TaxandOtherAdjustments−GitLab′sincometaxadjustmentforthelatestquarterwasalossof8.9 million in the latest quarter[37] Tax and Other Adjustments - GitLab's income tax adjustment for the latest quarter was a loss of 3.2 million, compared to a gain of 735,000inthesamequarterlastyear[37]−GitLabincurredacquisition−relatedexpensesof735,000 in the same quarter last year[37] - GitLab incurred acquisition-related expenses of 391,000 in the latest quarter, down from $1.3 million in the same quarter last year[37] - The company did not record any non-recurring payments related to the formation of JiHu during the periods presented[38]