Gitlab (GTLB) - 2025 Q1 - Quarterly Results

Revenue Growth - Total revenue for Q1 FY 2025 was $169.2 million, representing a 33$169,187 thousand, a 33.2% increase from $126,878 thousand in the same period of 2023[28] - The company expects Q2 FY 2025 revenue guidance of$176.0 - $177.0 million and FY 2025 revenue guidance of$733.0 - $737.0 million[10] Customer Metrics - Customers with more than$5,000 of Annual Recurring Revenue (ARR) reached 8,976, a 21% increase year-over-year[6] - Customers with more than $100,000 of ARR reached 1,025, a 35$(53.6) million from $(58.2) million year-over-year, showing a reduction of$4.6 million[3] - Non-GAAP net income for Q1 FY 2025 was $4.5 million, compared to a loss of$(8.8) million in Q1 FY 2024, an improvement of $13.3 million[3] - Net loss attributable to GitLab for the three months ended April 30, 2024, was$54,644 thousand, compared to a net loss of $52,469 thousand in the prior year[28] - GitLab reported a non-GAAP net income of$4.474 million, compared to a loss of $8.758 million in the previous year[33] - GAAP net loss per share remained at$(0.35) for both the current and previous year[33] - Non-GAAP net income per share was $0.03, improving from a loss of$(0.06) in the prior year[33] Cash Flow and Expenses - Operating cash flow for Q1 FY 2025 was $38.1 million, a significant increase from$(11.0) million in Q1 FY 2024, representing a $49.1 million improvement[5] - The company reported a net cash provided by operating activities of$38,138 thousand for the three months ended April 30, 2024, compared to a net cash used of $10,961 thousand in the prior year[30] - GAAP net cash provided by operating activities was$38.138 million, a significant increase from $(10.961) million in the previous year[34] - Non-GAAP adjusted free cash flow reached$37.438 million, compared to $(11.217) million in the same period last year[34] - Operating expenses totaled$204,051 thousand for the three months ended April 30, 2024, compared to $171,172 thousand in the same period of 2023, reflecting a 19.2$42,252 thousand, up from $32,330 thousand in the same period of 2023[30] Assets and Liabilities - Cash and cash equivalents increased to$420,322 thousand as of April 30, 2024, up from $287,996 thousand at the beginning of the period[30] - Total current assets as of April 30, 2024, were$1,263,043 thousand, slightly down from $1,280,917 thousand as of January 31, 2024[26] - The company’s total assets increased to$1,321,627 thousand as of April 30, 2024, compared to $1,317,861 thousand as of January 31, 2024[26] - Total liabilities as of April 30, 2024, were$707,269 thousand, an increase from $699,927 thousand as of January 31, 2024[26] Performance Obligations - Total Remaining Performance Obligations (RPO) grew 48$681.2 million, while current RPO grew 34% to $436.1 million[11] Acquisitions - GitLab announced the acquisition of Oxeye to enhance its cloud-native application security capabilities[11]