Date | Price Target | Rating | Analyst |
---|---|---|---|
4/12/2024 | $70.00 | Mkt Perform → Outperform | Raymond James |
4/9/2024 | $70.00 | Overweight | Wells Fargo |
3/22/2024 | $72.00 | Overweight | CapitalOne |
3/19/2024 | $70.00 | Overweight | KeyBanc Capital Markets |
3/6/2024 | $75.00 | Peer Perform → Outperform | Wolfe Research |
1/8/2024 | $73.00 | Neutral → Buy | Mizuho |
11/29/2023 | Mkt Perform | Raymond James | |
11/22/2023 | $55.00 | Overweight | Cantor Fitzgerald |
144 - Gitlab Inc. (0001653482) (Subject)
144 - Gitlab Inc. (0001653482) (Subject)
8-K - Gitlab Inc. (0001653482) (Filer)
8-K - Gitlab Inc. (0001653482) (Filer)
144 - Gitlab Inc. (0001653482) (Subject)
10-Q - Gitlab Inc. (0001653482) (Filer)
8-K - Gitlab Inc. (0001653482) (Filer)
ARS - Gitlab Inc. (0001653482) (Filer)
DEFA14A - Gitlab Inc. (0001653482) (Filer)
DEF 14A - Gitlab Inc. (0001653482) (Filer)
SAN FRANCISCO, June 25, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced it has achieved "In Process" designation at the Moderate impact level from the Federal Risk and Authorization Management Program (FedRAMP). The FedRAMP program promotes the adoption of secure and compliant cloud services across the federal government. The authorization process includes an in-depth examination of GitLab's data security and data governance capabilities and the security practices of its cloud services. GitLab is now listed in the FedRAMP Marketplace and continues to work toward achieving the FedRAMP "Authorized" designation. GitL
CxOs and staff are not aligned on the topics of AI, risk, and trainingEfforts to fix security vulnerabilities are hindered by organizational red tapeLeadership understands the importance of developer productivity for organizational success but isn't measuring it against business outcomesWhile most companies are shipping software twice as fast as last year, toolchain sprawl is hindering velocity SAN FRANCISCO, June 25, 2024 (GLOBE NEWSWIRE) -- ALL REMOTE -- GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today released its 8th annual Global DevSecOps Report on the current state of software development. In April 2024, GitLab surveyed over 5,300 CxOs, IT leaders, developer
SAN FRANCISCO, June 12, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced the public beta of expanded integrations with Google Cloud that will help developers work more effectively, quickly, and productively. The integrations combine GitLab's comprehensive DevSecOps platform capabilities, including source code management, planning, CI/CD workflow, and advanced security and compliance with Google Identity Access Management, Workload Identity Federation, Google Cloud Artifact Registry, and Google Compute Engine. From the GitLab platform, joint customers have complete visibility across the entire software development l
First Quarter Fiscal Year 2025 Highlights: Total revenue of $169.2 million, up 33% year-over-yearSignificant year-over-year GAAP and Non-GAAP operating margin expansionOperating cash flow of $38.1 million and Non-GAAP adjusted free cash flow of $37.4 million SAN FRANCISCO, June 03, 2024 (GLOBE NEWSWIRE) -- GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its first quarter fiscal year 2025, ended April 30, 2024. "GitLab continues to differentiate our platform with AI-driven software innovations that are streamlining how customers build, test, secure, and deploy software," said Sid Sijbrandij, GitLab CEO and co-founder. "Our results
Including AI capabilities to help organizations better secure their software with vulnerability explanation and remediationEnabling DevSecOps teams to quickly respond and remediate CI failures and code errors with AI-powered root cause analysisEmpowering customers to measure the impact and ROI of their AI investments through the AI Impact Dashboard SAN FRANCISCO, May 16, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced new innovations across the platform to streamline how organizations build, test, secure, and deploy software. Introducing GitLab Duo Enterprise GitLab Duo Enterprise, a new end-to-end AI add-
SAN FRANCISCO, May 13, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the most comprehensive AI-powered DevSecOps Platform, today announced that it will report its financial results for the first quarter of fiscal year 2025, which ended April 30, 2024, after U.S. markets close on Monday, June 3, 2024. Management will host a conference call and webcast on the same day to discuss the company's financial results at 4:30 p.m. EST / 1:30 p.m. PST. GitLab First Quarter Fiscal 2025 Financial Results Conference Call and WebcastWhen: Monday, June 3, 2024Time: 4:30 p.m. EST / 1:30 p.m. PSTConference ID: GITLABLive Call: 1-800-225-9448 (US/Canada Toll-Free) or 1-203-518-9708 (Toll
New, personalized ‘maintenance windows' provide compliance and security with a smoother employee experience across macOS, Windows, and Linux Fleet, the leader in open-source device management, today announced its newest feature designed to put an end to the all-too-common disruptions caused by IT notifications and forced restarts. The newly-released ‘Maintenance windows' feature integrates security patches into the natural flow of the day for both in-office and remote workers, ensuring that critical updates do not interrupt important work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240430093203/en/Fleet's ‘Maintenance wind
SAN FRANCISCO, April 18, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced the general availability of GitLab Duo Chat. GitLab Duo Chat brings the GitLab Duo suite of AI capabilities together into a single, easy-to-use, natural language chat interface to connect DevSecOps workflows across the entire software development lifecycle. Chat is available within the GitLab Duo Pro add-on, which combines AI capabilities to help enhance developer efficiency and collaboration in a single DevSecOps platform. GitLab Duo Chat features include: Code explanation to help users understand unfamiliar code.Code refactoring to help us
SAN FRANCISCO, April 09, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced that it has received the 2024 Google Cloud Technology Partner of the Year Award in the Application Development - DevOps category. This is the fourth consecutive year GitLab has been recognized. GitLab was recognized for its achievements in Application Development - DevOps within the Google Cloud ecosystem. Over the past year, GitLab has expanded its strategic partnership with Google Cloud to deliver secure AI offerings to the enterprise. GitLab leverages the Vertex AI Model Garden to embed AI-powered features into the DevSecOps platform with
SAN FRANCISCO, March 22, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the most comprehensive AI-powered DevSecOps platform, today announced that GitLab CEO and co-founder Sid Sijbrandij and GitLab Chief Financial Officer Brian Robins will participate in a fireside chat with Truist Securities on Wednesday, March 27, 2024. The fireside chat is scheduled for 12:30 p.m. Pacific Time and will be webcast live at the following link: https://openexc.zoom.us/webinar/register/WN_0PHIBccKTZCJD5Lmot-jCQ A link to the replay of the fireside chat will be available on the investor relations section of the GitLab website at: https://ir.gitlab.com/news-events/events About GitLab Gi
Raymond James upgraded GitLab from Mkt Perform to Outperform and set a new price target of $70.00
Wells Fargo initiated coverage of GitLab with a rating of Overweight and set a new price target of $70.00
CapitalOne initiated coverage of GitLab with a rating of Overweight and set a new price target of $72.00
KeyBanc Capital Markets initiated coverage of GitLab with a rating of Overweight and set a new price target of $70.00
Wolfe Research upgraded GitLab from Peer Perform to Outperform and set a new price target of $75.00
Mizuho upgraded GitLab from Neutral to Buy and set a new price target of $73.00
Raymond James initiated coverage of GitLab with a rating of Mkt Perform
Cantor Fitzgerald initiated coverage of GitLab with a rating of Overweight and set a new price target of $55.00
Barclays downgraded GitLab from Overweight to Equal Weight and set a new price target of $50.00 from $65.00 previously
BTIG Research initiated coverage of GitLab with a rating of Buy and set a new price target of $56.00
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
4 - Gitlab Inc. (0001653482) (Issuer)
SAN FRANCISCO, Jan. 18, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced the appointment of Sabrina Farmer as its chief technology officer (CTO). Farmer will lead GitLab's software engineering, operations, and customer support teams to execute the company's technical vision and strategy and oversee the development and delivery of GitLab's products. She joins GitLab after a 19-year career at Google where she most recently served as vice president of engineering, core infrastructure. During her tenure with Google, she was directly responsible for the reliability, performance, and efficiency of all of Google's billion-u
SAN FRANCISCO, June 30, 2023 (GLOBE NEWSWIRE) -- GitLab Inc., the most comprehensive AI-powered enterprise DevSecOps platform, today announced the appointment of Erin Mannix as chief accounting officer. She will succeed Dale Brown, current principal accounting officer, who is retiring but will remain with the company in an advisory role through October 2023 to ensure a seamless transition. Mannix will be responsible for providing overall accounting leadership spanning technical accounting, reporting and operations in addition to leading the financial reporting process and SOX controls. She brings 20 years of experience in accounting and a strong background in information technology
SAN FRANCISCO, June 13, 2023 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered enterprise DevSecOps platform, today announced the appointment of Josh Lemos as Chief Information Security Officer (CISO). He will be responsible for leading the company's global security strategy and compliance initiatives, fortifying the GitLab DevSecOps platform, and ensuring the highest level of security for customers. Lemos brings over 20 years of experience leading information security programs and teams at high-growth technology companies to GitLab. He most recently served as CISO at Block (formerly known as Square), and previously held senior security executive r
SAN FRANCISCO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- ALL REMOTE – GitLab Inc., the DevSecOps platform, announced today the appointment of Mark Porter, Chief Technology Officer at MongoDB, Inc., to its Board of Directors. Over the last three decades, Porter has focused his career on databases both on the customer side at Grab, NASA, and News Corp, as well as, on the vendor side at MongoDB, AWS, and Oracle. Porter joins the board to add his technology expertise as the company's product strategy evolves to capture more of the DevSecOps market including the incorporation of MLOps and DataOps within its Platform. "GitLab is taking software development lifecycle practices and unlocking next gen Dev
First Quarter Fiscal Year 2025 Highlights: Total revenue of $169.2 million, up 33% year-over-yearSignificant year-over-year GAAP and Non-GAAP operating margin expansionOperating cash flow of $38.1 million and Non-GAAP adjusted free cash flow of $37.4 million SAN FRANCISCO, June 03, 2024 (GLOBE NEWSWIRE) -- GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its first quarter fiscal year 2025, ended April 30, 2024. "GitLab continues to differentiate our platform with AI-driven software innovations that are streamlining how customers build, test, secure, and deploy software," said Sid Sijbrandij, GitLab CEO and co-founder. "Our results
SAN FRANCISCO, May 13, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the most comprehensive AI-powered DevSecOps Platform, today announced that it will report its financial results for the first quarter of fiscal year 2025, which ended April 30, 2024, after U.S. markets close on Monday, June 3, 2024. Management will host a conference call and webcast on the same day to discuss the company's financial results at 4:30 p.m. EST / 1:30 p.m. PST. GitLab First Quarter Fiscal 2025 Financial Results Conference Call and WebcastWhen: Monday, June 3, 2024Time: 4:30 p.m. EST / 1:30 p.m. PSTConference ID: GITLABLive Call: 1-800-225-9448 (US/Canada Toll-Free) or 1-203-518-9708 (Toll
SAN FRANCISCO, March 20, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced it has acquired Oxeye, the provider of an award-winning, cloud-native application security and risk management solution. With the acquisition of Oxeye, GitLab will accelerate its Static Application Security Testing (SAST) roadmap. Oxeye's capabilities will also augment GitLab's software composition analysis and compliance tools. Oxeye offers an automated cloud-native application security testing solution to help customers identify and resolve application-layer risks across the software development lifecycle. Its capabilities beyond SAST includ
Quarterly revenue of $163.8 million, up 33% year-over-year Fiscal Fourth Quarter Highlights: Total revenue of $163.8 millionGAAP operating margin of (21)%; Non-GAAP operating margin of 8%GAAP net loss per share of $(0.23); Non-GAAP net income per share of $0.15 Fiscal Year 2024 Highlights: Total revenue of $579.9 millionGAAP operating margin of (32)%; Non-GAAP operating margin of (0.2)%GAAP net loss per share of $(2.75); Non-GAAP net income per share of $0.20 SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its fourth quarter and full fiscal year of 2024, ended January 31, 2024. "We
SAN FRANCISCO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the most comprehensive AI-powered DevSecOps Platform, today announced that it will report its financial results for the fourth quarter and its fiscal year 2024, which ended January 31, 2024, after U.S. markets close on Monday, March 4, 2024. GitLab will host a Zoom video conference and earnings webcast beginning at 4:30 p.m. EST / 1:30 p.m. PST on the same day to discuss the company's financial results. Interested parties may register for the conference call here or at ir.gitlab.com. An archived replay of the webcast and a transcript of the prepared remarks will be available on the GitLab Investor R
Quarterly revenue of $149.7 million, up 32% year-over-year Fiscal Third Quarter Highlights: Total revenue of $149.7 millionGAAP operating margin of (27)%; Non-GAAP operating margin of 3%GAAP net loss per share of $(1.84); Non-GAAP net income per share of $0.09 SAN FRANCISCO, Dec. 04, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its third quarter fiscal year 2024, ended October 31, 2023. "We delivered a strong quarter, which was driven by the continued adoption of our DevSecOps Platform," said Sid Sijbrandij, GitLab CEO and co-founder. "GitLab is the only DevSecOps company that integrates security, complian
SAN FRANCISCO, Nov. 13, 2023 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the most comprehensive AI-powered DevSecOps Platform, today announced that it will report its financial results for the third quarter of fiscal year 2024, which ended October 31, 2023, after U.S. markets close on Monday, December 4, 2023. GitLab will host a Zoom video conference and earnings webcast beginning at 4:30 p.m. EST / 1:30 p.m. PST on the same day to discuss the company's financial results. Interested parties may register for the conference call here or at ir.gitlab.com. An archived replay of the webcast and a transcript of the prepared remarks will be available on the GitLab Investor Rela
Quarterly revenue of $139.6 million, up 38% year-over-year Fiscal Second Quarter Highlights: Total revenue of $139.6 millionGAAP operating margin of (39)%; Non-GAAP operating margin of (3)%GAAP net loss per share of $(0.33); Non-GAAP net income per share of $0.01 SAN FRANCISCO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its second quarter fiscal year 2024, ended July 31, 2023. "GitLab's strong quarter is a result of our focus on creating a differentiated and innovative DevSecOps platform and executing on a strong go-to-market motion," said Sid Sijbrandij, GitLab CEO and co-founder. "In addition
SAN FRANCISCO, July 18, 2023 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, announced the appointment of Chris Weber as its chief revenue officer effective today. Weber will be responsible for the planning and execution of global revenue operations at GitLab as the company scales toward its next phase of growth. He will oversee all field operations, including sales, customer success and strategic partnerships. Weber has held senior management roles for more than 20 years, leading enterprise sales strategy, building high performing teams, and managing global customer relationships across industries. He previously served as the firs
Quarterly revenue of $126.9 million, up 45% year-over-year Fiscal First Quarter Highlights: Total revenue of $126.9 millionGAAP operating margin of (46)%; Non-GAAP operating margin of (12)%GAAP net loss per share of $(0.35); Non-GAAP net loss per share of $(0.06) SAN FRANCISCO, June 05, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its first quarter fiscal year 2024, ended April 30, 2023. "With AI revolutionizing how companies develop, secure, and operate software, we believe GitLab is positioned as the leading AI-powered DevSecOps platform," said Sid Sijbrandij, GitLab CEO and Co-Founder. "Today, we deliv
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume NVDA CALL SWEEP BEARISH 07/05/24 $125.00 $31.2K 42.1K 173.2K AAPL CALL SWEEP BEARISH 07/05/24 $217.50
Across the recent three months, 15 analysts have shared their insights on GitLab (NASDAQ:GTLB), expressing a variety of opinions spanning from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 6 6 3 0 0 Last 30D 0 1 0 0 0 1M Ago 4 3 3 0 0 2M Ago 1 0 0 0 0 3M Ago 1 2 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $63.47, a high estimate of $80.00, and a low estimate of $50.00. Observing a downward trend
RBC Capital analyst Matthew Hedberg reiterates GitLab (NASDAQ:GTLB) with a Outperform and maintains $65 price target.
GitLab Inc (NASDAQ:GTLB) stock traded higher on Wednesday after the company disclosed that its board amended its severance plan after a periodic review. The revisions clarified that the board cannot cancel an individual’s equity awards without consideration during a corporate transaction, affecting certain team members and named executive officers. In June, GitLab reported first-quarter revenue of $169.187 million, beating analyst consensus estimates of $165.887 million. The company reported first-quarter adjusted EPS of $0.03, beating analyst estimates for a loss of $(0.04). Revenue was up 33% on a year-over-year basis. Customers with more than $5,000 of ARR increased to 8,976, up
All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced it has achieved "In Process" designation at the Moderate impact level from the Federal Risk and Authorization Management Program (FedRAMP).
All Remote - GitLab Inc., the most comprehensive AI-powered DevSecOps platform, today announced the public beta of expanded integrations with Google Cloud that will help developers work more effectively, quickly, and productively. The integrations combine GitLab's comprehensive DevSecOps platform capabilities, including source code management, planning, CI/CD workflow, and advanced security and compliance with Google Identity Access Management, Workload Identity Federation, Google Cloud Artifact Registry, and Google Compute Engine.
Canaccord Genuity analyst Kingsley Crane maintains GitLab (NASDAQ:GTLB) with a Buy and lowers the price target from $74 to $65.
BTIG analyst Gray Powell maintains GitLab (NASDAQ:GTLB) with a Buy and lowers the price target from $71 to $58.
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume NVDA CALL SWEEP BULLISH 06/07/24 $1150.00 $31.6K 12.2K 32.8K AMD CALL SWEEP BULLISH 06/07/24 $162.50
Quarterly revenue of $163.8 million, up 33% year-over-year
Fiscal Fourth Quarter Highlights:
Fiscal Year 2024 Highlights:
SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ:GTLB), The DevSecOps Platform, today reported financial results for its fourth quarter and full fiscal year of 2024, ended January 31, 2024.
"We delivered a strong fourth quarter and continue to see large enterprise customers standardize on GitLab to realize business value," said Sid Sijbrandij, GitLab CEO and co-founder. "By integrating AI throughout the software development lifecycle, our DevSecOps platform allows our customers to plan, build, manage, and deliver software more efficiently, ultimately scaling the impact their software investments have on business outcomes. We believe this puts us in a strong position to continue to win the large market opportunity in front of us."
"In Q4, revenue grew 33% year-over-year, and we delivered over 1,900 basis points of non-GAAP operating margin expansion year-over-year, demonstrating continued business momentum driven by our commitment to deliver value to customers with our market-leading DevSecOps platform," said Brian Robins, GitLab chief financial officer. "I'm pleased to share that with consistent execution across the business in FY24 we delivered breakeven cash flow a year ahead of our commitment and recorded our second consecutive quarter of non-GAAP operating profit while continuing to invest in key product areas. These milestones are a testament to our approach to responsible growth."
Fourth Quarter Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages):
Q4 FY 2024 | Q4 FY 2023 | Y/Y Change | |||||||||
Revenue | $ | 163.8 | $ | 122.9 | 33 | % | |||||
GAAP Gross margin | 90 | % | 88 | % | |||||||
Non-GAAP Gross margin | 92 | % | 90 | % | |||||||
GAAP Operating loss | $ | (34.9 | ) | $ | (46.3 | ) | $ | 11.4 | |||
Non-GAAP Operating income (loss) | $ | 13.2 | $ | (13.8 | ) | $ | 27.0 | ||||
GAAP Net loss attributable to GitLab | $ | (36.5 | ) | $ | (38.7 | ) | $ | 2.2 | |||
Non-GAAP Net income (loss) attributable to GitLab | $ | 25.0 | $ | (4.5 | ) | $ | 29.5 | ||||
GAAP Net loss per share attributable to GitLab | $ | (0.23 | ) | $ | (0.26 | ) | $ | 0.03 | |||
Non-GAAP Net income (loss) per share attributable to GitLab | $ | 0.15 | $ | (0.03 | ) | $ | 0.18 | ||||
GAAP net cash provided by (used in) operating activities | $ | 24.9 | $ | (11.7 | ) | $ | 36.6 | ||||
Non-GAAP Free cash flow | $ | 24.5 | $ | (12.8 | ) | $ | 37.3 | ||||
Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages):
FY 2024 | FY 2023 | Y/Y Change | |||||||||
Revenue | $ | 579.9 | $ | 424.3 | 37 | % | |||||
GAAP Gross margin | 90 | % | 88 | % | |||||||
Non-GAAP Gross margin | 91 | % | 90 | % | |||||||
GAAP Operating loss | $ | (187.4 | ) | $ | (211.4 | ) | $ | 24.0 | |||
Non-GAAP Operating loss | $ | (1.4 | ) | $ | (87.1 | ) | $ | 85.7 | |||
GAAP Net loss attributable to GitLab | $ | (424.2 | ) | $ | (172.3 | ) | $ | (251.9 | ) | ||
Non-GAAP Net income (loss) attributable to GitLab | $ | 32.6 | $ | (67.7 | ) | $ | 100.3 | ||||
GAAP Net loss per share attributable to GitLab | $ | (2.75 | ) | $ | (1.16 | ) | $ | (1.59 | ) | ||
Non-GAAP Net income (loss) per share attributable to GitLab | $ | 0.20 | $ | (0.46 | ) | $ | 0.66 | ||||
GAAP net cash provided by (used in) operating activities | $ | 35.0 | $ | (77.4 | ) | $ | 112.4 | ||||
Non-GAAP Free cash flow | $ | 33.4 | $ | (83.5 | ) | $ | 116.9 |
A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled "Non-GAAP Financial Measures."
Business Highlights:
Financial Highlights
First Quarter and Fiscal Year 2025 Financial Outlook
For the first quarter and fiscal year 2025, GitLab Inc. expects (in millions, except share and per share data):
Q1 FY 2025 Guidance | FY 2025 Guidance | ||
Revenue | $165.0 - $166.0 | $725.0 - $731.0 | |
Non-GAAP operating income (loss) | $(13.0) - $(12.0) | $5.0 - $10.0 | |
Non-GAAP diluted net income (loss) per share assuming approximately 158 million and 168 million weighted average shares outstanding during Q1 FY2025 and FY2025, respectively. | $(0.05) - $(0.04) | $0.19 - $0.23 |
These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below in Non-GAAP Financial Measures. We have not provided the most directly comparable GAAP financial guidance measures because certain items are out of our control or cannot be reasonably predicted. Accordingly, a reconciliation of non-GAAP guidance for operating income (loss) and net income (loss) per share to the corresponding GAAP measures is not available.
Conference Call Information
GitLab will host a conference call today, March 4, 2024, at 1:30 p.m. (PT) / 4:30 p.m. (ET) to discuss its fourth quarter and full year fiscal 2024 financial results. Investors and analysts should register for the call in advance by visiting https://gitlab.zoom.us/webinar/register/WN_ZHG1dzEdTSG_dNGnPWmWOw#/registration. A replay of the call will be available on GitLab's investor relations website (ir.gitlab.com).
About GitLab
GitLab is the most comprehensive DevSecOps Platform that empowers organizations to maximize the overall return on software development by delivering software faster and efficiently, while strengthening security and compliance. GitLab's single application is easier to use, leads to faster cycle time and allows visibility throughout and control over all stages of the DevSecOps lifecycle. With GitLab, every team in your organization can collaboratively plan, build, secure, and deploy software to drive business outcomes faster with complete transparency, consistency and traceability.
Non-GAAP Financial Measures
GitLab believes non-GAAP measures are useful in evaluating its operating performance. GitLab uses this supplemental information to evaluate its ongoing operations and for internal planning and forecasting purposes. GitLab believes that non-GAAP financial information, when taken collectively with its GAAP financial information, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. We define non-GAAP financial measures as GAAP measures, excluding certain items such as stock-based compensation expense, amortization of acquired intangible assets, foreign exchange (gain) loss, gain from a deconsolidation of a subsidiary, equity method investment loss and impairment, changes in the fair value of acquisition related contingent consideration, charitable donation of common stock, restructuring charges, a non-recurring income tax adjustment related to bilateral advance pricing agreement ("BAPA") negotiations, and other expenses that the Company believes are not indicative of its ongoing operations. Shares used for net income per share on a non-GAAP basis include incremental dilutive shares related to restricted stock units, options, and shares issuable under GitLab Inc.'s 2021 Employee Stock Purchase Plan that are anti-dilutive on a GAAP basis. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
Free Cash Flow
Free cash flow is a non-GAAP financial measure that we calculate as net cash provided by (used in) operating activities less cash used for purchases of property and equipment and any non-recurring income tax payments related to BAPA. We believe that free cash flow is a useful indicator of liquidity that provides information to management and investors about the amount of cash generated from our operations that, after the investments in property and equipment and any non-recurring income tax payments related to BAPA, can be used for strategic initiatives, including investing in our business, and strengthening our financial position. One limitation of free cash flow is that it does not reflect our future contractual commitments. Additionally, free cash flow does not represent the total increase or decrease in our cash balance for a given period.
Forward-Looking Statements
This press release and the accompanying earnings call contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although we believe that the expectations reflected in the forward-looking statements contained in this release and the accompanying earnings call are reasonable, they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to the following:
Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption "Risk Factors" and elsewhere in the filings and reports we make with the Securities and Exchange Commission. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.
Operating Metrics
Annual Recurring Revenue ("ARR"): We define annual recurring revenue as the annual run-rate revenue of subscription agreements, including our self-managed and SaaS offerings but excluding professional services, from all customers as measured on the last day of a given month. We calculate ARR by taking the monthly recurring revenue ("MRR") and multiplying it by 12. MRR for each month is calculated by aggregating, for all customers during that month, monthly revenue from committed contractual amounts of subscriptions, including our self-managed license, self-managed subscription, and SaaS subscription offerings but excluding professional services.
Dollar-Based Net Retention Rate: We calculate Dollar-Based Net Retention Rate as of a period end by starting with our customers as of the 12 months prior to such period end ("Prior Period ARR"). We then calculate the ARR from these customers as of the current period end ("Current Period ARR"). The calculation of Current Period ARR includes any upsells, price adjustments, user growth within a customer, contraction, and attrition. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the Dollar-Based Net Retention Rate.
GitLab Inc. Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) | |||||||
January 31, 2024(1) | January 31, 2023(1) | ||||||
ASSETS | |||||||
CURRENT ASSETS: | |||||||
Cash and cash equivalents | $ | 287,996 | $ | 295,402 | |||
Short-term investments | 748,289 | 641,249 | |||||
Accounts receivable, net of allowance for doubtful accounts of $673 and $1,564 as of January 31, 2024 and January 31, 2023, respectively | 166,731 | 130,479 | |||||
Deferred contract acquisition costs, current | 32,300 | 26,505 | |||||
Prepaid expenses and other current assets | 45,601 | 24,327 | |||||
Total current assets | 1,280,917 | 1,117,962 | |||||
Property and equipment, net | 2,954 | 5,797 | |||||
Operating lease right-of-use assets | 405 | 998 | |||||
Equity method investment, net of impairment of $8,858 and $0 as of January 31, 2024 and January 31, 2023, respectively | — | 12,682 | |||||
Goodwill | 8,145 | 8,145 | |||||
Intangible assets, net | 1,733 | 3,901 | |||||
Deferred contract acquisition costs, non-current | 19,317 | 15,628 | |||||
Other non-current assets | 4,390 | 4,087 | |||||
TOTAL ASSETS | $ | 1,317,861 | $ | 1,169,200 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
CURRENT LIABILITIES: | |||||||
Accounts payable | $ | 1,738 | $ | 5,184 | |||
Accrued expenses and other current liabilities | 286,178 | 25,954 | |||||
Accrued compensation and benefits | 35,809 | 20,776 | |||||
Deferred revenue, current | 338,348 | 254,382 | |||||
Total current liabilities | 662,073 | 306,296 | |||||
Deferred revenue, non-current | 23,794 | 28,355 | |||||
Other non-current liabilities | 14,060 | 9,824 | |||||
TOTAL LIABILITIES | 699,927 | 344,475 | |||||
STOCKHOLDERS' EQUITY: | |||||||
Preferred stock, $0.0000025 par value; 50,000 shares authorized as of January 31, 2024 and January 31, 2023; no shares issued and outstanding as of January 31, 2024 and January 31, 2023 | — | — | |||||
Class A Common stock, $0.0000025 par value; 1,500,000 shares authorized as of January 31, 2024 and January 31, 2023; 114,672 and 94,655 shares issued and outstanding as of January 31, 2024 and January 31, 2023, respectively | — | — | |||||
Class B Common stock, $0.0000025 par value; 250,000 shares authorized as of January 31, 2024 and January 31, 2023; 42,887 and 56,489 shares issued and outstanding as of January 31, 2024 and January 31, 2023, respectively | — | — | |||||
Additional paid-in capital | 1,718,661 | 1,497,373 | |||||
Accumulated deficit | (1,149,822 | ) | (725,648 | ) | |||
Accumulated other comprehensive income (loss) | 2,335 | (705 | ) | ||||
Total GitLab stockholders' equity | 571,174 | 771,020 | |||||
Noncontrolling interests | 46,760 | 53,705 | |||||
TOTAL STOCKHOLDERS' EQUITY | 617,934 | 824,725 | |||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,317,861 | $ | 1,169,200 |
__________
(1) As of January 31, 2024 and January 31, 2023, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD ("JiHu"), of $47.6 million and $62.8 million, respectively, and liabilities of $6.1 million and $8.9 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of GitLab Inc.
GitLab Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) | |||||||||||||||
Three Months Ended January 31, | Fiscal Year Ended January 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Revenue: | |||||||||||||||
Subscription—self-managed and SaaS | $ | 142,026 | $ | 105,055 | $ | 506,306 | $ | 369,349 | |||||||
License—self-managed and other | 21,753 | 17,852 | 73,600 | 54,987 | |||||||||||
Total revenue | 163,779 | 122,907 | 579,906 | 424,336 | |||||||||||
Cost of revenue: | |||||||||||||||
Subscription—self-managed and SaaS | 12,165 | 11,124 | 45,486 | 40,841 | |||||||||||
License—self-managed and other | 3,824 | 3,114 | 14,222 | 10,839 | |||||||||||
Total cost of revenue | 15,989 | 14,238 | 59,708 | 51,680 | |||||||||||
Gross profit | 147,790 | 108,669 | 520,198 | 372,656 | |||||||||||
Operating expenses: | |||||||||||||||
Sales and marketing | 90,762 | 81,513 | 356,393 | 309,992 | |||||||||||
Research and development | 52,388 | 43,680 | 200,840 | 156,143 | |||||||||||
General and administrative | 39,523 | 29,750 | 150,405 | 117,932 | |||||||||||
Total operating expenses | 182,673 | 154,943 | 707,638 | 584,067 | |||||||||||
Loss from operations | (34,883 | ) | (46,274 | ) | (187,440 | ) | (211,411 | ) | |||||||
Interest income | 11,813 | 6,249 | 39,114 | 14,496 | |||||||||||
Other income (expense), net | (11,318 | ) | (1,024 | ) | (11,826 | ) | 21,585 | ||||||||
Loss before income taxes and loss from equity method investment | (34,388 | ) | (41,049 | ) | (160,152 | ) | (175,330 | ) | |||||||
Loss from equity method investment, net of tax | (1,416 | ) | (693 | ) | (3,824 | ) | (2,468 | ) | |||||||
Provision for income taxes | 1,767 | 379 | 264,057 | 2,898 | |||||||||||
Net loss | $ | (37,571 | ) | $ | (42,121 | ) | $ | (428,033 | ) | $ | (180,696 | ) | |||
Net loss attributable to noncontrolling interest | (1,104 | ) | (3,388 | ) | (3,859 | ) | (8,385 | ) | |||||||
Net loss attributable to GitLab | $ | (36,467 | ) | $ | (38,733 | ) | $ | (424,174 | ) | $ | (172,311 | ) | |||
Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted | $ | (0.23 | ) | $ | (0.26 | ) | $ | (2.75 | ) | $ | (1.16 | ) | |||
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted | 156,601 | 150,133 | 154,283 | 148,407 |
GitLab Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) | |||||||||||||||
Three Months Ended January 31, | Fiscal Year Ended January 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||
Net loss, including amounts attributable to noncontrolling interest | $ | (37,571 | ) | $ | (42,121 | ) | $ | (428,033 | ) | $ | (180,696 | ) | |||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||||||||||
Stock-based compensation expense | 43,017 | 33,641 | 163,049 | 122,567 | |||||||||||
Gain from the fair value change of acquisition related contingent consideration | — | (1,722 | ) | — | (1,722 | ) | |||||||||
Charitable donation of common stock | 2,675 | — | 10,700 | — | |||||||||||
Amortization of intangible assets | 521 | 595 | 2,167 | 2,362 | |||||||||||
Depreciation expense | 1,039 | 1,033 | 4,368 | 3,231 | |||||||||||
Amortization of deferred contract acquisition costs | 12,397 | 12,265 | 43,463 | 44,958 | |||||||||||
Gain from deconsolidation of Arch, formerly Meltano | — | — | — | (17,798 | ) | ||||||||||
Loss from equity method investment | 776 | 942 | 3,824 | 3,189 | |||||||||||
Impairment of equity method investment | 8,858 | — | 8,858 | — | |||||||||||
Net amortization of premiums or discounts on short-term investments | (5,988 | ) | (2,731 | ) | (20,349 | ) | (6,077 | ) | |||||||
Unrealized foreign exchange loss (gain), net | 4,396 | 354 | 4,648 | (3,727 | ) | ||||||||||
Other non-cash expense, net | 1,013 | 717 | 1,330 | 1,156 | |||||||||||
Changes in assets and liabilities: | |||||||||||||||
Accounts receivable | (31,050 | ) | (32,006 | ) | (36,341 | ) | (54,169 | ) | |||||||
Prepaid expenses and other current assets | (15,671 | ) | (3,589 | ) | (23,854 | ) | (8,909 | ) | |||||||
Deferred contract acquisition costs | (21,340 | ) | (15,410 | ) | (53,100 | ) | (48,555 | ) | |||||||
Other non-current assets | 865 | 962 | (309 | ) | 3,012 | ||||||||||
Accounts payable | (3,219 | ) | (1,106 | ) | (3,443 | ) | 287 | ||||||||
Accrued expenses and other current liabilities | 12,436 | 1,370 | 258,293 | 4,619 | |||||||||||
Accrued compensation and benefits | 12,331 | 3,457 | 15,173 | (11,693 | ) | ||||||||||
Deferred revenue | 50,189 | 32,803 | 79,347 | 73,003 | |||||||||||
Other non-current liabilities | (10,821 | ) | (1,174 | ) | 5,249 | (2,446 | ) | ||||||||
Net cash provided by (used in) operating activities | 24,853 | (11,720 | ) | 35,040 | (77,408 | ) | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||
Purchases of short-term investments | (242,021 | ) | (189,671 | ) | (815,697 | ) | (821,622 | ) | |||||||
Proceeds from maturities of short-term investments | 207,028 | 108,925 | 734,007 | 231,626 | |||||||||||
Purchases of property and equipment | (329 | ) | (1,052 | ) | (1,598 | ) | (6,070 | ) | |||||||
Deconsolidation of Arch, formerly Meltano | — | — | — | (9,620 | ) | ||||||||||
Escrow payment related to business combination, after acquisition date | — | — | (2,500 | ) | — | ||||||||||
Other investing activities | (450 | ) | — | (450 | ) | — | |||||||||
Net cash used in investing activities | (35,772 | ) | (81,798 | ) | (86,238 | ) | (605,686 | ) | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||
Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases | 9,810 | 7,061 | 32,302 | 24,515 | |||||||||||
Issuance of common stock under employee stock purchase plan | 5,182 | 4,824 | 12,933 | 14,378 | |||||||||||
Contributions received from noncontrolling interests, net of issuance costs | — | — | — | 61,726 | |||||||||||
Partial settlement of acquisition related contingent cash consideration | — | — | — | (3,137 | ) | ||||||||||
Net cash provided by financing activities | 14,992 | 11,885 | 45,235 | 97,482 | |||||||||||
Impact of foreign exchange on cash and cash equivalents | (1,386 | ) | 4,866 | (3,943 | ) | (3,658 | ) | ||||||||
Net increase (decrease) in cash and cash equivalents | 2,687 | (76,767 | ) | (9,906 | ) | (589,270 | ) | ||||||||
Cash, cash equivalents, and restricted cash at beginning of period | 285,309 | 374,669 | 297,902 | 887,172 | |||||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 287,996 | $ | 297,902 | $ | 287,996 | $ | 297,902 | |||||||
Reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed statements of cash flows above: | |||||||||||||||
Cash and cash equivalents | $ | 287,996 | $ | 295,402 | $ | 287,996 | $ | 295,402 | |||||||
Restricted cash, included in prepaid expenses and other current assets | — | 2,500 | — | 2,500 | |||||||||||
Total cash, cash equivalents and restricted cash | $ | 287,996 | $ | 297,902 | $ | 287,996 | $ | 297,902 |
GitLab Inc. Reconciliation of GAAP to Non-GAAP (in thousands, except per share data) (unaudited) | |||||||||||||||
Three Months Ended January 31, | Fiscal Year Ended January 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Gross profit on GAAP basis | $ | 147,790 | $ | 108,669 | $ | 520,198 | $ | 372,656 | |||||||
Gross margin on GAAP basis | 90 | % | 88 | % | 90 | % | 88 | % | |||||||
Stock-based compensation expense | 1,640 | 1,455 | 6,400 | 5,078 | |||||||||||
Amortization of acquired intangibles | 521 | 521 | 2,067 | 2,067 | |||||||||||
Restructuring charges | — | — | 463 | — | |||||||||||
Gross profit on non-GAAP basis | $ | 149,951 | $ | 110,645 | $ | 529,128 | $ | 379,801 | |||||||
Gross margin on non-GAAP basis | 92 | % | 90 | % | 91 | % | 90 | % | |||||||
Sales and marketing on GAAP basis | $ | 90,762 | $ | 81,513 | $ | 356,393 | $ | 309,992 | |||||||
Stock-based compensation expense | (17,184 | ) | (13,194 | ) | (68,766 | ) | (48,001 | ) | |||||||
Restructuring charges | (188 | ) | — | (3,811 | ) | $ | — | ||||||||
Sales and marketing on non-GAAP basis | $ | 73,390 | $ | 68,319 | $ | 283,816 | $ | 261,991 | |||||||
Research and development on GAAP basis | $ | 52,388 | $ | 43,680 | $ | 200,840 | $ | 156,143 | |||||||
Stock-based compensation expense | (13,887 | ) | (9,920 | ) | (50,804 | ) | (36,325 | ) | |||||||
Restructuring charges | — | — | (2,119 | ) | — | ||||||||||
Research and development on non-GAAP basis | $ | 38,501 | $ | 33,760 | $ | 147,917 | $ | 119,818 | |||||||
General and administrative on GAAP basis | $ | 39,523 | $ | 29,750 | $ | 150,405 | $ | 117,932 | |||||||
Amortization of acquired intangibles | — | (74 | ) | (100 | ) | (295 | ) | ||||||||
Stock-based compensation expense | (10,306 | ) | (9,072 | ) | (37,079 | ) | (33,163 | ) | |||||||
Restructuring charges | — | — | (1,634 | ) | — | ||||||||||
Charitable donation of common stock | (2,675 | ) | — | (10,700 | ) | — | |||||||||
Changes in the fair value of acquisition related contingent consideration | — | 1,722 | — | 659 | |||||||||||
Other non-recurring charges | (1,718 | ) | — | (2,131 | ) | — | |||||||||
General and administrative on non-GAAP basis | $ | 24,824 | $ | 22,326 | $ | 98,761 | $ | 85,133 | |||||||
Loss from operations on GAAP basis | $ | (34,883 | ) | $ | (46,274 | ) | $ | (187,440 | ) | $ | (211,411 | ) | |||
Stock-based compensation expense | 43,017 | 33,641 | 163,049 | 122,567 | |||||||||||
Amortization of acquired intangibles | 521 | 595 | 2,167 | 2,362 | |||||||||||
Restructuring charges | 188 | — | 8,027 | — | |||||||||||
Charitable donation of common stock | 2,675 | — | 10,700 | — | |||||||||||
Changes in the fair value of acquisition related contingent consideration | — | (1,722 | ) | — | (659 | ) | |||||||||
Other non-recurring charges | 1,718 | — | 2,131 | — | |||||||||||
Income (loss) from operations on non-GAAP basis | $ | 13,236 | $ | (13,760 | ) | $ | (1,366 | ) | $ | (87,141 | ) | ||||
Other income (expense), net on GAAP basis | $ | (11,318 | ) | $ | (1,024 | ) | $ | (11,826 | ) | $ | 21,585 | ||||
Gain from deconsolidation of Arch, formerly Meltano | — | — | — | (17,798 | ) | ||||||||||
Impairment of equity method investment | 8,858 | — | 8,858 | — | |||||||||||
Foreign exchange gains (losses), net | 2,651 | 997 | 3,157 | (4,364 | ) | ||||||||||
Other income (expense), net on non-GAAP basis | $ | 191 | $ | (27 | ) | $ | 189 | $ | (577 | ) | |||||
Net loss attributable to GitLab common stockholders on GAAP basis | $ | (36,467 | ) | $ | (38,733 | ) | $ | (424,174 | ) | $ | (172,311 | ) | |||
Stock-based compensation expense | 43,017 | 33,641 | 163,049 | 122,567 | |||||||||||
Amortization of acquired intangibles | 521 | 595 | 2,167 | 2,362 | |||||||||||
Restructuring charges | 188 | — | 8,027 | — | |||||||||||
Charitable donation of common stock | 2,675 | — | 10,700 | — | |||||||||||
Changes in the fair value of acquisition related contingent consideration | — | (1,722 | ) | — | (659 | ) | |||||||||
Gain from deconsolidation of Arch, formerly Meltano | — | — | — | (17,798 | ) | ||||||||||
Impairment of equity method investment | 8,858 | — | 8,858 | — | |||||||||||
Loss from equity method investment, net of tax | 1,416 | 693 | 3,824 | 2,468 | |||||||||||
Foreign exchange gains (losses), net | 2,651 | 997 | 3,157 | (4,364 | ) | ||||||||||
Other non-recurring charges | 1,718 | — | 2,131 | — | |||||||||||
Income tax adjustment(1) | 467 | — | 254,859 | — | |||||||||||
Net income (loss) attributable to GitLab common stockholders on non-GAAP basis | $ | 25,044 | $ | (4,529 | ) | $ | 32,598 | $ | (67,735 | ) | |||||
GAAP net loss per share, basic and diluted | $ | (0.23 | ) | $ | (0.26 | ) | $ | (2.75 | ) | $ | (1.16 | ) | |||
Non-GAAP net income (loss) per share, basic | $ | 0.16 | $ | (0.03 | ) | $ | 0.21 | $ | (0.46 | ) | |||||
Non-GAAP net income (loss) per share, diluted | $ | 0.15 | $ | (0.03 | ) | $ | 0.20 | $ | (0.46 | ) | |||||
Shares used in per share calculation - basic on GAAP basis | 156,601 | 150,133 | 154,283 | 148,407 | |||||||||||
Effect of dilutive securities | 8,820 | — | 8,182 | — | |||||||||||
Shares used in per share calculation - diluted on non-GAAP basis | 165,421 | 150,133 | 162,465 | 148,407 |
(1) Income tax adjustment related to BAPA negotiations.
GitLab Inc. Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow (in thousands) (unaudited) | |||||||||||||||
Three Months Ended January 31, | Fiscal Year Ended January 31, | ||||||||||||||
2024 | 2023 | 2024 | 2023 | ||||||||||||
Computation of free cash flow(1) | |||||||||||||||
GAAP net cash provided by (used in) operating activities | $ | 24,853 | $ | (11,720 | ) | $ | 35,040 | $ | (77,408 | ) | |||||
Less: Purchases of property and equipment | (329 | ) | (1,052 | ) | (1,598 | ) | (6,070 | ) | |||||||
Non-GAAP free cash flow | $ | 24,524 | $ | (12,772 | ) | $ | 33,442 | $ | (83,478 | ) |
(1) No income tax payments related to BAPA were recorded during the periods presented.
Media Contact:
Lisa Boughner
VP, Global Communications
GitLab Inc.
[email protected]
Investor Contact:
James Shen
VP Finance
GitLab Inc.
[email protected]
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