On September 3, 2024, GitLab Inc., a Delaware-based company listed on NASDAQ under the symbol GTLB, reported its financial results for the fiscal quarter ending July 31, 2024. The company, which operates on a remote-only basis, announced a 31% year-over-year increase in total revenue, reaching $182.6 million. GitLab also reported significant improvements in both GAAP and Non-GAAP operating margins, and an operating cash flow of $11.7 million with a Non-GAAP adjusted free cash flow of $10.8 million. CEO Sid Sijbrandij highlighted the role of GitLab's end-to-end platform and AI solutions in driving customer results, while CFO Brian Robins expressed confidence in the company's continued growth and customer satisfaction. The quarter saw a 19% year-over-year increase in customers...Show More

On September 3, 2024, GitLab Inc., a Delaware-based company listed on NASDAQ under the symbol GTLB, reported its financial results for the fiscal quarter ending July 31, 2024. The company, which operates on a remote-only basis, announced a 31% year-over-year increase in total revenue, reaching $182.6 million. GitLab also reported significant improvements in both GAAP and Non-GAAP operating margins, and an operating cash flow of $11.7 million with a Non-GAAP adjusted free cash flow of $10.8 million. CEO Sid Sijbrandij highlighted the role of GitLab's end-to-end platform and AI solutions in driving customer results, while CFO Brian Robins expressed confidence in the company's continued growth and customer satisfaction. The quarter saw a 19% year-over-year increase in customers with more than $5,000 of ARR and a 33% increase in those with more than $100,000 of ARR. GitLab's Dollar-Based Net Retention Rate stood at 126%, and the company reported a 51% year-over-year growth in Total RPO to $747.9 million. Notable business developments included being named a Leader in the 2024 Gartner Magic Quadrant for AI Code Assistants and the release of GitLab Duo Enterprise, an AI add-on for DevSecOps teams. GitLab provided guidance for Q3 FY 2025 with revenue expected between $187.0 - $188.0 million and Non-GAAP operating income projected at $19.0 - $20.0 million. The company will host a conference call to discuss these results and has made supplemental investor materials available on its website.