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Gitlab | 8-K: GitLab Reports Fourth Quarter and Full Year 2024 Financial Results

SEC announcement ·  Mar 5 05:17
Summary by Futu AI
On March 4, 2024, GitLab Inc. announced its financial results for the full fiscal year and the fourth quarter ended January 31, 2024. The company reported a total revenue of $163.8 million for the quarter, marking a 33% increase year-over-year, and a total revenue of $579.9 million for the fiscal year, a 37% increase from the previous year. GitLab's GAAP operating margin for the quarter was (21)%, with a non-GAAP operating margin of 8%, and for the fiscal year, the GAAP operating margin was (32)% with a non-GAAP operating margin of (0.2)%. The company experienced a GAAP net loss per share of $(0.23) and a non-GAAP net income per share of $0.15 for the quarter. For the fiscal year, the GAAP net loss per share was $(2.75), while the...Show More
On March 4, 2024, GitLab Inc. announced its financial results for the full fiscal year and the fourth quarter ended January 31, 2024. The company reported a total revenue of $163.8 million for the quarter, marking a 33% increase year-over-year, and a total revenue of $579.9 million for the fiscal year, a 37% increase from the previous year. GitLab's GAAP operating margin for the quarter was (21)%, with a non-GAAP operating margin of 8%, and for the fiscal year, the GAAP operating margin was (32)% with a non-GAAP operating margin of (0.2)%. The company experienced a GAAP net loss per share of $(0.23) and a non-GAAP net income per share of $0.15 for the quarter. For the fiscal year, the GAAP net loss per share was $(2.75), while the non-GAAP net income per share was $0.20. GitLab's CEO, Sid Sijbrandij, highlighted the integration of AI throughout the software development lifecycle as a key factor in their strong performance. CFO Brian Robins emphasized the company's achievement of breakeven cash flow a year ahead of schedule and a second consecutive quarter of non-GAAP operating profit. GitLab also announced a webcast to discuss these financial results. The company continues to operate as a remote-only entity and communicates material information through various online channels. Looking ahead, GitLab provided guidance for the first quarter and fiscal year 2025, expecting revenue between $165.0 - $166.0 million for Q1 and $725.0 - $731.0 million for the full year, with non-GAAP operating income (loss) projected to be $(13.0) - $(12.0) million for Q1 and $5.0 - $10.0 million for the full year.

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