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    GitLab Reports Second Quarter Fiscal Year 2026 Financial Results

    9/3/25 4:05:00 PM ET
    $GTLB
    Computer Software: Prepackaged Software
    Technology
    Get the next $GTLB alert in real time by email

    Company Announces CFO Transition

    Second Quarter Fiscal Year 2026 Highlights:

    • Total revenue of $236.0 million, up 29% year-over-year
    • GAAP operating margin of (8)%; non-GAAP operating margin of 17%
    • Operating cash flow of $49.4 million and non-GAAP adjusted free cash flow of $46.5 million

    All-Remote-GitLab Inc. (NASDAQ:GTLB), the most comprehensive, intelligent DevSecOps platform, today reported financial results for its second quarter fiscal year of 2026, ended July 31, 2025.

    "This quarter's results demonstrate the strength of GitLab's AI-native DevSecOps platform as we continue to drive customer-focused innovation," said Bill Staples, GitLab chief executive officer. "GitLab Duo Agent Platform represents our vision for human-AI collaboration across the software development lifecycle. With extensibility and interoperability at our core, GitLab gives customers the flexibility to build software with their choice of AI generation tools integrated directly within GitLab, underpinned by the full lifecycle data needed to deliver faster, higher quality AI outcomes."

    "Our team achieved strong second quarter fiscal year 2026 results, with 29% revenue growth and significant year-over-year operating margin expansion," said Brian Robins, GitLab chief financial officer. "GitLab's sustained growth reflects the transformational value enterprises achieve through the only cloud-agnostic, model-neutral DevSecOps platform with comprehensive contextual AI capabilities that span planning through deployment, capable of running anywhere, including air-gapped environments."

    Second Quarter Fiscal Year 2026 Financial Highlights (in millions, except per share data and percentages):

     

    Q2 FY 2026

     

    Q2 FY 2025

     

    Y/Y Change

    Revenue

    $

    236.0

     

     

    $

    182.6

     

     

     

    29

    %

    GAAP Gross margin

     

    88

    %

     

     

    88

    %

     

     

    Non-GAAP Gross margin

     

    90

    %

     

     

    91

    %

     

     

    GAAP Operating margin

     

    (8

    )%

     

     

    (22

    )%

     

     

    Non-GAAP Operating margin

     

    17

    %

     

     

    10

    %

     

     

    GAAP Operating loss

    $

    (18.4

    )

     

    $

    (41.0

    )

     

    $

    22.6

     

    Non-GAAP Operating income

    $

    39.6

     

     

    $

    18.2

     

     

    $

    21.4

     

    GAAP Net income (loss) attributable to GitLab

    $

    (9.2

    )

     

    $

    12.9

     

     

    $

    (22.1

    )

    Non-GAAP Net income attributable to GitLab

    $

    40.9

     

     

    $

    24.5

     

     

    $

    16.4

     

    GAAP Net income (loss) per share attributable to GitLab, basic

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.14

    )

    GAAP Net income (loss) per share attributable to GitLab, diluted

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.14

    )

    Non-GAAP Net income per share attributable to GitLab, basic

    $

    0.25

     

     

    $

    0.15

     

     

    $

    0.10

     

    Non-GAAP Net income per share attributable to GitLab, diluted

    $

    0.24

     

     

    $

    0.15

     

     

    $

    0.09

     

    GAAP net cash provided by operating activities

    $

    49.4

     

     

    $

    11.7

     

     

    $

    37.7

     

    Non-GAAP adjusted free cash flow

    $

    46.5

     

     

    $

    10.8

     

     

    $

    35.7

     

    A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled "Non-GAAP Financial Measures."

    Additional Second Quarter Fiscal Year 2026 Financial Highlights:

    • Customers with more than $5,000 of ARR reached 10,338, an increase of 11% year-over-year.
    • Customers with more than $100,000 of ARR reached 1,344, an increase of 25% year-over-year.
    • Dollar-Based Net Retention Rate was 121%.
    • Total RPO grew 32% year-over-year to $988.2 million, while cRPO grew 31% to $621.6 million.

    Business Highlights:

    • Brian Robins will step down as Chief Financial Officer effective September 19, 2025, to pursue another opportunity. We expect to name James Shen, Vice President of Finance, as interim CFO, and to promote Vice President, Corporate Controller Simon Mundy as Chief Accounting Officer, reporting to James Shen.
    • Appointed Manav Khurana as Chief Product and Marketing Officer and Manu Narayan as Chief Information Officer.
    • Announced the public beta launch of GitLab Duo Agent Platform, an extensible AI orchestration platform designed for human-AI collaboration across the software development lifecycle. The platform integrates with Anthropic Claude Code, Cursor, Amazon Q, Google Gemini CLI, and opencode, enabling developers to collaborate with AI agents that autonomously handle complex development tasks using rich project context for more intelligent AI outcomes.
    • Signed a three-year strategic collaboration agreement with Amazon Web Services (AWS). The agreement expands access to GitLab Dedicated, a single-tenant offering that enables organizations in highly regulated industries and the public sector to leverage cloud infrastructure while meeting complex compliance requirements, including data residency, isolation, and private networking.

    Third Quarter and Fiscal Year 2026 Financial Outlook

    For the third quarter and fiscal year 2026, GitLab Inc. expects (in millions, except share and per share data):

     

    Q3 FY 2026 Guidance

     

    FY 2026 Guidance

    Revenue

    $238.0 - $239.0

     

    $936 - $942

    Non-GAAP operating income

    $31.0 - $32.0

     

    $133 - $136

    Non-GAAP diluted net income per share assuming approximately 171 million and 171 million weighted average shares outstanding during Q3 FY 2026 and FY 2026, respectively.

    $0.19 - $0.20

     

    $0.82 - $0.83

    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, September 3, 2025, at 1:30 p.m. (PT) / 4:30 p.m. (ET) to discuss its second quarter fiscal year 2026 financial results and its guidance for the third quarter and full fiscal year 2026. Interested parties may register for the call in advance by visiting http://bit.ly/3Jo12Fo. A live webcast of this conference call will be available on GitLab's investor relations website (ir.gitlab.com), and a replay will also be archived on the website for one year.

    About GitLab

    GitLab is the most comprehensive, intelligent DevSecOps platform for software innovation. GitLab enables organizations to increase developer productivity, improve operational efficiency, reduce security and compliance risk, and accelerate digital transformation. More than 50 million registered users and more than 50% of the Fortune 100 trust GitLab to ship better, more secure software faster.

    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, equity method investment loss and impairment, acquisition related expenses, charitable donation of common stock, restructuring charges, a non-recurring income tax adjustment related to bilateral advance pricing agreement ("BAPA") negotiations, non-recurring charges associated with the formation of our GitLab Information Technology (Hubei) Co., LTD Joint Venture in China ("JiHu"), and other expenses that the Company believes are not indicative of its ongoing operations. In addition to these exclusions, effective Q1 FY26 we utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision which reflects the new location of GitLab's intellectual property in the U.S. following the conclusion of our bilateral advance pricing agreements. For FY26, we have determined the projected non-GAAP tax rate to be 22%. 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.

    Adjusted Free Cash Flow

    Adjusted free cash flow is a non-GAAP financial measure that we calculate as net cash provided by operating activities less cash used for purchases of property and equipment, plus any non-recurring income tax payments related to the BAPA or minus any non-recurring income tax refunds related to the BAPA, plus any non-recurring payments related to the formation of JiHu. We believe that adjusted 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, any non-recurring income tax payments or refunds related to the BAPA, and any non-recurring payments related to the formation of JiHu, can be used for strategic initiatives, including investing in our business, and strengthening our financial position. One limitation of adjusted free cash flow is that it does not reflect our future contractual commitments. Additionally, adjusted 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:

    • our ability to effectively manage our growth;
    • our revenue growth rate in the future;
    • our ability to achieve and sustain profitability, our business, financial condition, and operating results;
    • security and privacy breaches;
    • intense competition in our markets and loss of market share to our competitors;
    • our ability to respond to rapid technological changes;
    • the market for our services may not grow;
    • a decline in our customer renewals and expansions;
    • fluctuations in our operating results;
    • our incorporation of artificial intelligence features into our products;
    • our transparency;
    • our publicly available company Handbook;
    • customers staying on our free self-managed or SaaS product offering;
    • our ability to accurately predict the long-term rate of customer subscription renewals or adoption, or the impact of these renewals and adoption;
    • our hiring model;
    • the effects of ongoing armed conflict in different regions of the world on our business; and
    • general economic conditions (including changes in interest rates, inflation, tariffs, uncertainty of the federal budget, increased volatility in the capital markets, and instability in the global banking sector) and slow or negative growth of our markets.

    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)

     

     

    July 31, 2025(1)

     

    January 31, 2025(1)

    ASSETS

     

     

     

    CURRENT ASSETS:

     

     

     

    Cash and cash equivalents

    $

    261,371

     

     

    $

    227,649

     

    Short-term investments

     

    903,806

     

     

     

    764,728

     

    Accounts receivable, net of allowance for doubtful accounts of $1,176 and $991 as of July 31, 2025 and January 31, 2025, respectively

     

    197,775

     

     

     

    264,565

     

    Deferred contract acquisition costs, current

     

    35,306

     

     

     

    38,964

     

    Prepaid expenses and other current assets

     

    37,912

     

     

     

    40,411

     

    Total current assets

     

    1,436,170

     

     

     

    1,336,317

     

    Property and equipment, net

     

    7,642

     

     

     

    4,013

     

    Operating lease right-of-use assets

     

    393

     

     

     

    381

     

    Goodwill

     

    16,634

     

     

     

    16,139

     

    Intangible assets, net

     

    13,804

     

     

     

    17,834

     

    Deferred contract acquisition costs, non-current

     

    18,961

     

     

     

    20,142

     

    Other non-current assets

     

    4,583

     

     

     

    4,437

     

    TOTAL ASSETS

    $

    1,498,187

     

     

    $

    1,399,263

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

    CURRENT LIABILITIES:

     

     

     

    Accounts payable

    $

    11,395

     

     

    $

    7,519

     

    Accrued expenses and other current liabilities

     

    52,339

     

     

     

    54,680

     

    Accrued compensation and benefits

     

    30,164

     

     

     

    40,233

     

    Deferred revenue, current

     

    459,459

     

     

     

    442,599

     

    Total current liabilities

     

    553,357

     

     

     

    545,031

     

    Deferred revenue, non-current

     

    25,749

     

     

     

    26,369

     

    Other non-current liabilities

     

    7,499

     

     

     

    6,557

     

    TOTAL LIABILITIES

     

    586,605

     

     

     

    577,957

     

    STOCKHOLDERS' EQUITY:

     

     

     

    Preferred stock, $0.0000025 par value; 50,000 shares authorized as of July 31, 2025 and January 31, 2025; no shares issued and outstanding as of July 31, 2025 and January 31, 2025

     

    —

     

     

     

    —

     

    Class A Common stock, $0.0000025 par value; 1,500,000 shares authorized as of July 31, 2025 and January 31, 2025; 147,834 and 144,444 shares issued and outstanding as of July 31, 2025 and January 31, 2025, respectively

     

    —

     

     

     

    —

     

    Class B Common stock, $0.0000025 par value; 250,000 shares authorized as of July 31, 2025 and January 31, 2025; 18,876 and 19,469 shares issued and outstanding as of July 31, 2025 and January 31, 2025, respectively

     

    —

     

     

     

    —

     

    Additional paid-in capital

     

    2,080,759

     

     

     

    1,952,031

     

    Accumulated deficit

     

    (1,212,697

    )

     

     

    (1,167,614

    )

    Accumulated other comprehensive loss

     

    (1,511

    )

     

     

    (8,508

    )

    Total GitLab stockholders' equity

     

    866,551

     

     

     

    775,909

     

    Noncontrolling interests

     

    45,031

     

     

     

    45,397

     

    TOTAL STOCKHOLDERS' EQUITY

     

    911,582

     

     

     

    821,306

     

    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

    $

    1,498,187

     

     

    $

    1,399,263

     

     

    __________

    (1) As of July 31, 2025 and January 31, 2025, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD ("JiHu"), of $45.6 million and $46.5 million, respectively, and liabilities of $11.2 million and $10.3 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 July 31,

     

    Six Months Ended July 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Revenue:

     

     

     

     

     

     

     

    Subscription—self-managed and SaaS

    $

    212,684

     

     

    $

    163,181

     

     

    $

    407,165

     

     

    $

    314,360

     

    License—self-managed and other

     

    23,276

     

     

     

    19,403

     

     

     

    43,304

     

     

     

    37,411

     

    Total revenue

     

    235,960

     

     

     

    182,584

     

     

     

    450,469

     

     

     

    351,771

     

    Cost of revenue:

     

     

     

     

     

     

     

    Subscription—self-managed and SaaS

     

    21,753

     

     

     

    16,630

     

     

     

    41,021

     

     

     

    30,469

     

    License—self-managed and other

     

    6,752

     

     

     

    4,740

     

     

     

    12,519

     

     

     

    9,677

     

    Total cost of revenue

     

    28,505

     

     

     

    21,370

     

     

     

    53,540

     

     

     

    40,146

     

    Gross profit

     

    207,455

     

     

     

    161,214

     

     

     

    396,929

     

     

     

    311,625

     

    Operating expenses:

     

     

     

     

     

     

     

    Sales and marketing

     

    109,583

     

     

     

    97,778

     

     

     

    217,170

     

     

     

    190,202

     

    Research and development

     

    71,488

     

     

     

    61,273

     

     

     

    136,898

     

     

     

    115,413

     

    General and administrative

     

    44,735

     

     

     

    43,168

     

     

     

    95,822

     

     

     

    100,655

     

    Total operating expenses

     

    225,806

     

     

     

    202,219

     

     

     

    449,890

     

     

     

    406,270

     

    Loss from operations

     

    (18,351

    )

     

     

    (41,005

    )

     

     

    (52,961

    )

     

     

    (94,645

    )

    Interest income

     

    11,511

     

     

     

    12,827

     

     

     

    22,373

     

     

     

    24,857

     

    Other income (expense), net

     

    (911

    )

     

     

    1,260

     

     

     

    (10,882

    )

     

     

    371

     

    Loss before income taxes

     

    (7,751

    )

     

     

    (26,918

    )

     

     

    (41,470

    )

     

     

    (69,417

    )

    Provision for (benefit from) income taxes

     

    2,245

     

     

     

    (39,155

    )

     

     

    4,784

     

     

     

    (26,178

    )

    Net income (loss)

    $

    (9,996

    )

     

    $

    12,237

     

     

    $

    (46,254

    )

     

    $

    (43,239

    )

    Net loss attributable to noncontrolling interest

     

    (788

    )

     

     

    (675

    )

     

     

    (1,171

    )

     

     

    (918

    )

    Net income (loss) attributable to GitLab

    $

    (9,208

    )

     

    $

    12,912

     

     

    $

    (45,083

    )

     

    $

    (42,321

    )

    Net loss per share attributable to GitLab Class A and Class B common stockholders:

     

     

     

     

     

     

     

    Basic

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.27

    )

     

    $

    (0.27

    )

    Diluted

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.27

    )

     

    $

    (0.27

    )

    Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders:

     

     

     

     

     

     

     

    Basic

     

    165,953

     

     

     

    159,677

     

     

     

    165,233

     

     

     

    158,973

     

    Diluted

     

    165,953

     

     

     

    166,346

     

     

     

    165,233

     

     

     

    158,973

     

    GitLab Inc.

    Condensed Consolidated Statements of Cash Flows

    (in thousands)

    (unaudited)

     

     

    Three Months Ended July 31,

     

    Six Months Ended July 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    CASH FLOWS FROM OPERATING ACTIVITIES:

     

     

     

     

     

     

     

    Net income (loss), including amounts attributable to noncontrolling interest

    $

    (9,996

    )

     

    $

    12,237

     

     

    $

    (46,254

    )

     

    $

    (43,239

    )

    Adjustments to reconcile net income (loss) to net cash provided by operating activities:

     

     

     

     

     

     

     

    Stock-based compensation expense

     

    54,284

     

     

     

    48,969

     

     

     

    110,111

     

     

     

    91,221

     

    Change in fair value of acquisition related contingent consideration

     

    —

     

     

     

    3,750

     

     

     

    —

     

     

     

    3,750

     

    Charitable donation of common stock

     

    1,787

     

     

     

    2,957

     

     

     

    3,526

     

     

     

    5,914

     

    Amortization of intangible assets

     

    2,015

     

     

     

    2,333

     

     

     

    4,035

     

     

     

    3,420

     

    Depreciation expense

     

    759

     

     

     

    744

     

     

     

    1,315

     

     

     

    1,681

     

    Amortization of deferred contract acquisition costs

     

    13,370

     

     

     

    11,837

     

     

     

    27,269

     

     

     

    22,946

     

    Net amortization of premiums or discounts on short-term investments

     

    (2,609

    )

     

     

    (4,241

    )

     

     

    (5,605

    )

     

     

    (9,141

    )

    Unrealized foreign exchange loss (gain), net

     

    1,069

     

     

     

    (988

    )

     

     

    10,970

     

     

     

    (268

    )

    Other non-cash expense (income), net

     

    192

     

     

     

    (111

    )

     

     

    400

     

     

     

    301

     

    Changes in assets and liabilities:

     

     

     

     

     

     

     

    Accounts receivable

     

    3,859

     

     

     

    (29,847

    )

     

     

    69,787

     

     

     

    1,225

     

    Prepaid expenses and other current assets

     

    1,219

     

     

     

    2,982

     

     

     

    2,746

     

     

     

    13,344

     

    Deferred contract acquisition costs

     

    (12,304

    )

     

     

    (12,415

    )

     

     

    (20,430

    )

     

     

    (20,955

    )

    Other non-current assets

     

    (198

    )

     

     

    (78

    )

     

     

    181

     

     

     

    (497

    )

    Accounts payable

     

    (472

    )

     

     

    14

     

     

     

    3,114

     

     

     

    1,350

     

    Accrued expenses and other current liabilities

     

    (14,257

    )

     

     

    (41,093

    )

     

     

    (4,278

    )

     

     

    (21,070

    )

    Accrued compensation and benefits

     

    2,021

     

     

     

    6,250

     

     

     

    (11,063

    )

     

     

    (6,902

    )

    Deferred revenue

     

    8,284

     

     

     

    19,286

     

     

     

    9,489

     

     

     

    14,838

     

    Other non-current liabilities

     

    346

     

     

     

    (10,889

    )

     

     

    358

     

     

     

    (8,083

    )

    Net cash provided by operating activities

     

    49,369

     

     

     

    11,697

     

     

     

    155,671

     

     

     

    49,835

     

    CASH FLOWS FROM INVESTING ACTIVITIES:

     

     

     

     

     

     

     

    Purchases of short-term investments

     

    (237,946

    )

     

     

    (118,866

    )

     

     

    (483,898

    )

     

     

    (263,258

    )

    Proceeds from maturities of short-term investments

     

    184,280

     

     

     

    121,412

     

     

     

    347,886

     

     

     

    376,099

     

    Proceeds from sales of short-term investments

     

    —

     

     

     

    —

     

     

     

    1,367

     

     

     

    —

     

    Purchases of property and equipment

     

    (2,904

    )

     

     

    (851

    )

     

     

    (3,816

    )

     

     

    (1,551

    )

    Payments for business combination, net of cash acquired

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (20,210

    )

    Payments for asset acquisition

     

    —

     

     

     

    (7,314

    )

     

     

    —

     

     

     

    (7,314

    )

    Other investing activities

     

    —

     

     

     

    457

     

     

     

    —

     

     

     

    457

     

    Net cash provided by (used in) investing activities

     

    (56,570

    )

     

     

    (5,162

    )

     

     

    (138,461

    )

     

     

    84,223

     

    CASH FLOWS FROM FINANCING ACTIVITIES:

     

     

     

     

     

     

     

    Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases

     

    3,947

     

     

     

    4,980

     

     

     

    7,275

     

     

     

    10,073

     

    Issuance of common stock under employee stock purchase plan

     

    8,404

     

     

     

    7,932

     

     

     

    8,404

     

     

     

    7,932

     

    Net cash provided by financing activities

     

    12,351

     

     

     

    12,912

     

     

     

    15,679

     

     

     

    18,005

     

    Impact of foreign exchange on cash and cash equivalents

     

    502

     

     

     

    (1,153

    )

     

     

    833

     

     

     

    (1,443

    )

    Net increase in cash and cash equivalents

     

    5,652

     

     

     

    18,294

     

     

     

    33,722

     

     

     

    150,620

     

    Cash and cash equivalents at beginning of period

     

    255,719

     

     

     

    420,322

     

     

     

    227,649

     

     

     

    287,996

     

    Cash and cash equivalents at end of period

    $

    261,371

     

     

    $

    438,616

     

     

    $

    261,371

     

     

    $

    438,616

     

    GitLab Inc.

    Reconciliation of GAAP to Non-GAAP

    (in thousands, except per share data)

    (unaudited)

     

     

    Three Months Ended July 31,

     

    Six Months Ended July 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Gross profit on GAAP basis

    $

    207,455

     

     

    $

    161,214

     

     

    $

    396,929

     

     

    $

    311,625

     

    Gross margin on GAAP basis

     

    88

    %

     

     

    88

    %

     

     

    88

    %

     

     

    89

    %

    Stock-based compensation expense

     

    2,261

     

     

     

    2,076

     

     

     

    4,190

     

     

     

    3,931

     

    Amortization of acquired intangibles

     

    2,015

     

     

     

    2,333

     

     

     

    4,035

     

     

     

    3,420

     

    Gross profit on non-GAAP basis

    $

    211,731

     

     

    $

    165,623

     

     

    $

    405,154

     

     

    $

    318,976

     

    Gross margin on non-GAAP basis

     

    90

    %

     

     

    91

    %

     

     

    90

    %

     

     

    91

    %

     

     

     

     

     

     

     

     

    Sales and marketing on GAAP basis

    $

    109,583

     

     

    $

    97,778

     

     

    $

    217,170

     

     

    $

    190,202

     

    Stock-based compensation expense

     

    (19,950

    )

     

     

    (19,881

    )

     

     

    (42,041

    )

     

     

    (37,278

    )

    Restructuring charges

     

    —

     

     

     

    (266

    )

     

     

    —

     

     

     

    (996

    )

    Sales and marketing on non-GAAP basis

    $

    89,633

     

     

    $

    77,631

     

     

    $

    175,129

     

     

    $

    151,928

     

     

     

     

     

     

     

     

     

    Research and development on GAAP basis

    $

    71,488

     

     

    $

    61,273

     

     

    $

    136,898

     

     

    $

    115,413

     

    Stock-based compensation expense

     

    (19,197

    )

     

     

    (16,114

    )

     

     

    (33,469

    )

     

     

    (28,450

    )

    Restructuring charges

     

    —

     

     

     

    (393

    )

     

     

    —

     

     

     

    (393

    )

    Research and development on non-GAAP basis

    $

    52,291

     

     

    $

    44,766

     

     

    $

    103,429

     

     

    $

    86,570

     

     

     

     

     

     

     

     

     

    General and administrative on GAAP basis

    $

    44,735

     

     

    $

    43,168

     

     

    $

    95,822

     

     

    $

    100,655

     

    Stock-based compensation expense

     

    (12,876

    )

     

     

    (10,898

    )

     

     

    (30,411

    )

     

     

    (21,562

    )

    Restructuring charges

     

    —

     

     

     

    (112

    )

     

     

    —

     

     

     

    (388

    )

    Charitable donation of common stock

     

    (1,787

    )

     

     

    (2,957

    )

     

     

    (3,526

    )

     

     

    (5,914

    )

    Changes in the fair value of acquisition related contingent consideration

     

    —

     

     

     

    (3,750

    )

     

     

    —

     

     

     

    (3,750

    )

    Acquisition related expenses

     

    (157

    )

     

     

    (658

    )

     

     

    (340

    )

     

     

    (2,709

    )

    Other non-recurring charges

     

    320

     

     

     

    261

     

     

     

    (643

    )

     

     

    (212

    )

    General and administrative on non-GAAP basis

    $

    30,235

     

     

    $

    25,054

     

     

    $

    60,902

     

     

    $

    66,120

     

     

     

     

     

     

     

     

     

    Loss from operations on GAAP basis

    $

    (18,351

    )

     

    $

    (41,005

    )

     

    $

    (52,961

    )

     

    $

    (94,645

    )

    Stock-based compensation expense

     

    54,284

     

     

     

    48,969

     

     

     

    110,111

     

     

     

    91,221

     

    Amortization of acquired intangibles

     

    2,015

     

     

     

    2,333

     

     

     

    4,035

     

     

     

    3,420

     

    Restructuring charges

     

    —

     

     

     

    771

     

     

     

    —

     

     

     

    1,777

     

    Charitable donation of common stock

     

    1,787

     

     

     

    2,957

     

     

     

    3,526

     

     

     

    5,914

     

    Changes in the fair value of acquisition related contingent consideration

     

    —

     

     

     

    3,750

     

     

     

    —

     

     

     

    3,750

     

    Acquisition related expenses

     

    157

     

     

     

    658

     

     

     

    340

     

     

     

    2,709

     

    Other non-recurring charges

     

    (320

    )

     

     

    (261

    )

     

     

    643

     

     

     

    212

     

    Income from operations on non-GAAP basis

    $

    39,572

     

     

    $

    18,172

     

     

    $

    65,694

     

     

    $

    14,358

     

     

     

     

     

     

     

     

     

    Other income (expense), net on GAAP basis

    $

    (911

    )

     

    $

    1,260

     

     

    $

    (10,882

    )

     

    $

    371

     

    Foreign exchange gains (losses), net

     

    1,117

     

     

     

    (1,267

    )

     

     

    11,071

     

     

     

    (482

    )

    Other non-recurring charges

     

    172

     

     

     

    172

     

     

    $

    342

     

     

    $

    346

     

    Other income, net on non-GAAP basis

    $

    378

     

     

    $

    165

     

     

    $

    531

     

     

    $

    235

     

     

     

     

     

     

     

     

     

    Net income (loss) attributable to GitLab common stockholders on GAAP basis

    $

    (9,208

    )

     

    $

    12,912

     

     

    $

    (45,083

    )

     

    $

    (42,321

    )

    Stock-based compensation expense

     

    54,284

     

     

     

    48,969

     

     

     

    110,111

     

     

     

    91,221

     

    Amortization of acquired intangibles

     

    2,015

     

     

     

    2,333

     

     

     

    4,035

     

     

     

    3,420

     

    Restructuring charges

     

    —

     

     

     

    771

     

     

     

    —

     

     

     

    1,777

     

    Charitable donation of common stock

     

    1,787

     

     

     

    2,957

     

     

     

    3,526

     

     

     

    5,914

     

    Changes in the fair value of acquisition related contingent consideration

     

    —

     

     

     

    3,750

     

     

     

    —

     

     

     

    3,750

     

    Acquisition related expenses

     

    157

     

     

     

    658

     

     

     

    340

     

     

     

    2,709

     

    Foreign exchange gains (losses), net

     

    1,117

     

     

     

    (1,267

    )

     

     

    11,071

     

     

     

    (482

    )

    Income tax adjustment (1)

     

    (9,077

    )

     

     

    (46,472

    )

     

     

    (14,708

    )

     

     

    (37,550

    )

    Other non-recurring charges

     

    (148

    )

     

     

    (89

    )

     

     

    985

     

     

     

    558

     

    Net income attributable to GitLab common stockholders on non-GAAP basis

    $

    40,927

     

     

    $

    24,522

     

     

    $

    70,277

     

     

    $

    28,996

     

     

     

     

     

     

     

     

     

    GAAP net income (loss) per share, basic

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.27

    )

     

    $

    (0.27

    )

    GAAP net income (loss) per share, diluted

    $

    (0.06

    )

     

    $

    0.08

     

     

    $

    (0.27

    )

     

    $

    (0.27

    )

     

     

     

     

     

     

     

     

    Non-GAAP net income per share, basic

    $

    0.25

     

     

    $

    0.15

     

     

    $

    0.43

     

     

    $

    0.18

     

    Non-GAAP net income per share, diluted

    $

    0.24

     

     

    $

    0.15

     

     

    $

    0.41

     

     

    $

    0.17

     

     

     

     

     

     

     

     

     

    Shares used in per share calculation - basic on GAAP basis

     

    165,953

     

     

     

    159,677

     

     

     

    165,233

     

     

     

    158,973

     

    Effect of dilutive securities

     

    4,535

     

     

     

    6,669

     

     

     

    5,220

     

     

     

    7,925

     

    Shares used in per share calculation - diluted on non-GAAP basis

     

    170,488

     

     

     

    166,346

     

     

     

    170,453

     

     

     

    166,898

     

    (1) Income tax adjustment in Q2 FY2025 consists primarily of one-time charges associated with the formation of Jihu and BAPA negotiations, while in Q2 FY2026, it primarily reflects an assumed provision for income taxes based on our long-term projected tax rate of 22%.

    GitLab Inc.

    Reconciliation of GAAP Cash Flow from Operating Activities to Adjusted Free Cash Flow

    (in thousands)

    (unaudited)

     

     

    Three Months Ended July 31,

     

    Six Months Ended July 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Computation of adjusted free cash flow (1)

     

     

     

     

     

     

     

    GAAP net cash provided by operating activities

    $

    49,369

     

     

    $

    11,697

     

     

    $

    155,671

     

     

    $

    49,835

     

    Less: Purchases of property and equipment

     

    (2,904

    )

     

     

    (851

    )

     

     

    (3,816

    )

     

     

    (1,551

    )

    Less: Income tax refunds related to BAPA

     

    (12

    )

     

     

    —

     

     

     

    (1,305

    )

     

     

    —

     

    Non-GAAP adjusted free cash flow

    $

    46,453

     

     

    $

    10,846

     

     

    $

    150,550

     

     

    $

    48,284

     

    (1) No non-recurring payments related to the formation of JiHu were recorded during the periods presented.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250903199105/en/

    Media Contact:

    Lisa Boughner

    VP, Global Communications

    GitLab Inc.

    [email protected]

    Investor Contact:

    Cassidy Fuller-Patterson

    Investor Relations

    GitLab Inc.

    [email protected]

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    Director Sijbrandij Sytse converted options into 108,600 shares and sold $4,904,216 worth of shares (108,600 units at $45.16) (SEC Form 4)

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    8/19/25 5:38:37 PM ET
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    7/21/25 4:21:59 PM ET
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    8/22/25 8:01:47 AM ET
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    Rosenblatt initiated coverage on GitLab with a new price target

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    7/15/25 8:41:01 AM ET
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    Amendment: SEC Form SC 13G/A filed by GitLab Inc.

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    11/14/24 4:58:57 PM ET
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    11/12/24 4:15:21 PM ET
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    GitLab Reports Second Quarter Fiscal Year 2026 Financial Results

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    9/3/25 4:05:00 PM ET
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    8/20/25 4:05:00 PM ET
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