Gitlab (US:GTLB)2025-03-03 21:11Revenue Growth - Total revenue for Q4 FY 2025 reached $211.4 million, representing a 29% year-over-year growth[6] - Fiscal Year 2025 total revenue was $759.2 million, up 31% from $579.9 million in FY 2024[7] - Total revenue for the three months ended January 31, 2025, was $211,431 thousand, representing a 29% increase from $163,779 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 $142,026 thousand in the prior year[31] Profitability - Non-GAAP operating income for Q4 FY 2025 was $37.4 million, compared to $13.2 million in Q4 FY 2024, marking a $24.2 million increase[8] - GAAP net income attributable to GitLab for Q4 FY 2025 was $10.8 million, a significant improvement from a loss of $36.9 million in Q4 FY 2024[8] - The company reported a net income of $10,207 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 $56.7 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, 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, compared to $24,853,000 in 2024[33] - Total cash used in investing activities was $21,941,000 for the three months ended January 31, 2025, down from $35,772,000 in 2024[33] - Cash provided by financing activities was $11,693,000 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 $812,932 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, slightly up from $43,017,000 in 2024[36] Assets and Liabilities - Cash and cash equivalents decreased to $227,649 thousand as of January 31, 2025, from $287,996 thousand as of January 31, 2024[29] - Total assets increased to $1,399,263 thousand as of January 31, 2025, compared to $1,321,403 thousand as of January 31, 2024[29] - Deferred revenue increased to $74,240,000 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, slightly increasing from $(1,161,288) thousand as of January 31, 2024[29] Future Guidance - GitLab expects Q1 FY 2026 revenue guidance between $212.0 million and $213.0 million[11] - Non-GAAP diluted net income per share for FY 2026 is projected to be between $0.68 and $0.72[11] Operational Highlights - Customers with more than $5,000 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 $147,790 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 $147,790,000 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 $3.9 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 $8.9 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 $735,000 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]