GitLab Inc. reported strong financial results for Q3 FY2025, with revenue increasing 31% year-over-year to $196.0 million. The company achieved a significant milestone by posting net income attributable to GitLab of $29.6 million, compared to a net loss of $285.2 million in the same period last year. Subscription revenue grew 34% to $175.3 million, while the customer base expanded to 9,519 base customers and 1,144 customers with ARR over $100,000, representing increases of 16% and 31% respectively.The company demonstrated solid operational execution with a Dollar-Based Net Retention Rate of 124%. Gross margin remained healthy at 89%, though slightly down from 90% in the prior year period. GitLab also announced a leadership transition, with co-founder Sytse Sijbrandij stepping down as CEO to become Executive Chair, and William Staples appointed as the new...Show More

GitLab Inc. reported strong financial results for Q3 FY2025, with revenue increasing 31% year-over-year to $196.0 million. The company achieved a significant milestone by posting net income attributable to GitLab of $29.6 million, compared to a net loss of $285.2 million in the same period last year. Subscription revenue grew 34% to $175.3 million, while the customer base expanded to 9,519 base customers and 1,144 customers with ARR over $100,000, representing increases of 16% and 31% respectively.The company demonstrated solid operational execution with a Dollar-Based Net Retention Rate of 124%. Gross margin remained healthy at 89%, though slightly down from 90% in the prior year period. GitLab also announced a leadership transition, with co-founder Sytse Sijbrandij stepping down as CEO to become Executive Chair, and William Staples appointed as the new Chief Executive Officer effective December 5, 2024.Looking ahead, GitLab continues to invest in innovation and growth, particularly in AI capabilities through its GitLab Duo suite of features. The company has implemented remediation actions to address previously identified material weaknesses in IT controls and maintains a strong financial position with $917 million in cash, cash equivalents, and short-term investments as of October 31, 2024.