US Market News
1月前
GitLab Reports First Quarter Fiscal Year 2027 Financial ResultsJune 2, 2026 4:05 PM
Business Wire First Quarter Fiscal Year 2027 Highlights: Total revenue of $264.2 million, up 23% year-over-year GAAP operating margin of (6)%; non-GAAP operating margin of 14% Operating cash flow of $149.2 million and non-GAAP adjusted free cash flow of $146.7 million All-Remote-GitLab Inc. (NASDAQ: GTLB), the intelligent orchestration platform for DevSecOps, today reported financial results for its first quarter fiscal year of 2027, ended April 30, 2026. “The agentic era is creating structural tailwinds for GitLab, and Q1 showed it clearly with accelerating platform activity and promising traction from GitLab Duo Agent Platform,” said Bill Staples, GitLab chief executive officer. “GitLab is the only platform that spans the full software lifecycle with one control plane, one data model, and cloud and AI model neutrality. As our largest customers come to us with new needs around security, governance, and orchestration at machine scale, we are evolving GitLab to be the trusted enterprise platform for software creation in the AI era.” “Our team delivered a strong first quarter with 23% revenue growth and 2 points of operating margin expansion,” said Jessica Ross, GitLab chief financial officer. “Our solid financial foundation gives us the flexibility to invest deliberately behind our highest-return initiatives, while returning capital to shareholders through our ongoing share repurchase program.” First Quarter Fiscal Year 2027 Financial Highlights (in millions, except per share data and percentages): Q1 FY 2027 Q1 FY 2026 Y/Y Change Revenue $ 264.2 $ 214.5 23 % GAAP Gross margin 86 % 88 % Non-GAAP Gross margin 88 % 90 % GAAP Operating margin (6 )% (16 )% Non-GAAP Operating margin 14 % 12 % GAAP Operating loss $ (15.7 ) $ (34.6 ) $ 18.9 Non-GAAP Operating income $ 37.5 $ 26.1 $ 11.4 GAAP Net loss attributable to GitLab $ (5.0 ) $ (35.9 ) $ 30.9 Non-GAAP Net income attributable to GitLab $ 39.0 $ 29.4 $ 9.6 GAAP Net loss per share attributable to GitLab, basic $ (0.03 ) $ (0.22 ) $ 0.19 GAAP Net loss per share attributable to GitLab, diluted $ (0.03 ) $ (0.22 ) $ 0.19 Non-GAAP Net income per share attributable to GitLab, basic $ 0.23 $ 0.18 $ 0.05 Non-GAAP Net income per share attributable to GitLab, diluted $ 0.23 $ 0.17 $ 0.06 GAAP net cash provided by operating activities $ 149.2 $ 106.3 $ 42.9 Non-GAAP adjusted free cash flow $ 146.7 $ 104.1 $ 42.6 A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Non-GAAP Financial Measures.” Additional First Quarter Fiscal Year 2027 Financial Highlights: Customers with more than $5,000 of ARR reached 10,831, an increase of 7% year-over-year. Customers with more than $100,000 of ARR reached 1,519, an increase of 18% year-over-year. Dollar-Based Net Retention Rate was 117%. Total RPO grew 18% year-over-year to $1.1 billion, while cRPO grew 24% to $724.1 million. Business Highlights: Extended agentic AI across the software lifecycle with new automated security remediation, pipeline configuration, and delivery analytics, and broadened access to GitLab Duo Agent Platform for free tier users, including flat-rate agentic code reviews and spending caps for predictable cost controls. Deepened integration with Anthropic’s Claude models, giving GitLab customers access to the latest Claude capabilities within the same governance, compliance, and audit framework that governs every other action in GitLab. Announced collaborations with AWS and Google Cloud to bring agentic DevSecOps to enterprise teams, enabling joint customers to power GitLab Duo Agent Platform with Amazon Bedrock or Vertex AI using the models, governance, and cloud commitments they already have in place. Received the 2026 Google Cloud Technology Partner of the Year Award in the Application Development - DevSecOps category for the sixth consecutive year. In the quarter, GitLab repurchased approximately 2.4 million shares. Subsequent Event: GitLab also announced it is reducing its full-time workforce by approximately 14%, or 350 team members to realign its operating structure to optimize execution against its strategic priorities. GitLab also expects to exit 22 countries to reduce its team member geographic footprint by approximately 37%. It estimates that it will incur approximately $30 million to $35 million in pre-tax restructuring charges, consisting primarily of one-time severance, employee termination benefit costs, and retention costs associated with the execution of the Plan, of which approximately $19 million is expected to be incurred in the second quarter of fiscal year 2027, with the majority of the remainder expected to be recognized over the following three quarters. The Company expects the plan to be substantially complete by the end of fiscal 2027. Additional costs associated with the plan may be identified and will be disclosed when reasonably estimable. Second Quarter and Fiscal Year 2027 Financial Outlook For the second quarter and fiscal year 2027, GitLab Inc. expects (in millions, except share and per share data): Q2 FY 2027 Guidance FY 2027 Guidance Revenue $272 - $274 $1,112 - $1,118 Non-GAAP operating income $30 - $32 $135 - $141 Non-GAAP diluted net income per share assuming approximately 168 million and 166 million weighted average shares outstanding during Q2 FY 2027 and FY 2027, respectively. $0.17 - $0.18 $0.79 - $0.82 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, June 2, 2026, at 1:30 p.m. (PT) / 4:30 p.m. (ET) to discuss its first quarter fiscal year 2027 financial results and its guidance for the second quarter and full fiscal year 2027. Interested parties may register for the call in advance by visiting http://bit.ly/4dDhEoc. 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 intelligent orchestration platform for DevSecOps. 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 approximately 50% of the Fortune 100* trust GitLab to ship better, more secure software faster. *Fortune 500® is a registered trademark of Fortune Media IP Limited, used under license. Claim based on GitLab data. Fortune 100 refers to the top 20% ranked companies in the 2025 Fortune 500 list, published in June 2025. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of GitLab. 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 and FY27, 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, regulatory uncertainty (including with respect to the federal budget and potential government shutdowns), volatile capital markets, and actual or perceived 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) April 30, 2026(1) January 31, 2026(1) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 335,395 $ 229,576 Short-term investments 1,022,117 1,030,327 Accounts receivable, net of allowance for doubtful accounts of $1,019 and $967 as of April 30, 2026 and January 31, 2026, respectively 200,302 304,301 Deferred contract acquisition costs, current 39,108 42,676 Prepaid expenses and other current assets 42,483 48,899 Total current assets 1,639,405 1,655,779 Property and equipment, net 12,777 11,815 Goodwill 17,798 17,379 Intangible assets, net 7,759 9,774 Deferred contract acquisition costs, non-current 23,810 23,705 Other non-current assets 3,984 4,295 TOTAL ASSETS $ 1,705,533 $ 1,722,747 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable $ 8,847 $ 9,205 Accrued expenses and other current liabilities 72,680 58,185 Accrued compensation and benefits 28,538 39,657 Deferred revenue, current 532,983 545,096 Total current liabilities 643,048 652,143 Deferred revenue, non-current 23,991 26,994 Other non-current liabilities 7,108 7,362 TOTAL LIABILITIES 674,147 686,499 STOCKHOLDERS’ EQUITY: Preferred stock, $0.0000025 par value; 50,000 shares authorized; no shares issued and outstanding as of April 30, 2026 and January 31, 2026 — — Class A Common stock, $0.0000025 par value; 1,500,000 shares authorized; 152,614 and 153,336 shares issued and outstanding as of April 30, 2026 and January 31, 2026, respectively — — Class B Common stock, $0.0000025 par value; 250,000 shares authorized; 16,250 and 16,732 shares issued and outstanding as of April 30, 2026 and January 31, 2026, respectively(2) — — Additional paid-in capital 2,209,247 2,207,361 Accumulated deficit (1,228,542 ) (1,223,570 ) Accumulated other comprehensive income 4,499 6,877 Total GitLab stockholders’ equity 985,204 990,668 Noncontrolling interests 46,182 45,580 TOTAL STOCKHOLDERS’ EQUITY 1,031,386 1,036,248 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,705,533 $ 1,722,747 ____________________ (1) As of April 30, 2026 and January 31, 2026, the condensed consolidated balance sheets include assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $40.6 million and $41.0 million, respectively, and liabilities of $6.6 million and $7.1 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. (2) On May 14, 2026, the Company’s Executive Chair Sytse Sijbrandij converted 15,134,451 shares of Class B common stock into 15,134,451 shares of Class A common stock. GitLab Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended April 30, 2026 2025 Revenue: Subscription—self-managed and SaaS $ 239,306 $ 194,481 License—self-managed and other 24,852 20,028 Total revenue 264,158 214,509 Cost of revenue: Subscription—self-managed and SaaS 30,591 19,268 License—self-managed and other 6,897 5,767 Total cost of revenue 37,488 25,035 Gross profit 226,670 189,474 Operating expenses: Sales and marketing 119,358 107,587 Research and development 71,482 65,410 General and administrative 51,579 51,087 Total operating expenses 242,419 224,084 Loss from operations (15,749 ) (34,610 ) Interest income 11,947 10,862 Other income (expense), net 255 (9,971 ) Loss before income taxes (3,547 ) (33,719 ) Provision for income taxes 2,032 2,539 Net loss $ (5,579 ) $ (36,258 ) Net loss attributable to noncontrolling interest (607 ) (383 ) Net loss attributable to GitLab $ (4,972 ) $ (35,875 ) Net loss per share attributable to GitLab Class A and Class B common stockholders: Basic $ (0.03 ) $ (0.22 ) Diluted $ (0.03 ) $ (0.22 ) Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders: Basic 169,948 164,491 Diluted 169,948 164,491 GitLab Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended April 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss, including amounts attributable to noncontrolling interest $ (5,579 ) $ (36,258 ) Adjustments to reconcile net loss to net cash provided by operating activities: Stock-based compensation expense, net of amounts capitalized 50,061 55,827 Charitable donation of common stock 821 1,739 Amortization of intangible assets 2,015 2,020 Depreciation and amortization 1,295 556 Amortization of deferred contract acquisition costs 12,924 13,899 Net amortization of premiums or discounts on short-term investments (324 ) (2,996 ) Unrealized foreign exchange loss (gain), net (1,011 ) 9,901 Other non-cash expense, net 189 208 Changes in assets and liabilities: Accounts receivable 103,356 65,928 Prepaid expenses and other current assets 6,387 1,527 Deferred contract acquisition costs (9,745 ) (8,126 ) Other non-current assets 228 379 Accounts payable (353 ) 3,586 Accrued expenses and other current liabilities 14,451 9,979 Accrued compensation and benefits (10,970 ) (13,084 ) Deferred revenue (14,288 ) 1,205 Other non-current liabilities (260 ) 12 Net cash provided by operating activities 149,197 106,302 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of short-term investments (222,196 ) (245,952 ) Proceeds from maturities of short-term investments 218,824 163,606 Proceeds from sales of short-term investments 9,922 1,367 Additions to property and equipment (2,393 ) (912 ) Net cash provided by (used in) investing activities 4,157 (81,891 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases 2,373 3,328 Common stock repurchased (50,048 ) — Payments for taxes related to net share settlement of equity awards (160 ) — Net cash provided by (used in) financing activities (47,835 ) 3,328 Impact of foreign exchange on cash and cash equivalents 300 331 Net increase in cash and cash equivalents 105,819 28,070 Cash and cash equivalents at beginning of period 229,576 227,649 Cash and cash equivalents at end of period $ 335,395 $ 255,719 GitLab Inc. Reconciliation of GAAP to Non-GAAP (in thousands, except per share data) (unaudited) Three Months Ended April 30, 2026 2025 Gross profit on GAAP basis $ 226,670 $ 189,474 Gross margin on GAAP basis 86 % 88 % Stock-based compensation expense 2,864 1,929 Amortization of acquired intangibles 2,015 2,020 Gross profit on non-GAAP basis $ 231,549 $ 193,423 Gross margin on non-GAAP basis 88 % 90 % Sales and marketing on GAAP basis $ 119,358 $ 107,587 Stock-based compensation expense (17,445 ) (22,091 ) Sales and marketing on non-GAAP basis $ 101,913 $ 85,496 Research and development on GAAP basis $ 71,482 $ 65,410 Stock-based compensation expense (13,630 ) (14,272 ) Research and development on non-GAAP basis $ 57,852 $ 51,138 General and administrative on GAAP basis $ 51,579 $ 51,087 Stock-based compensation expense (16,122 ) (17,535 ) Charitable donation of common stock (821 ) (1,739 ) Acquisition related expenses (310 ) (183 ) Other non-recurring charges (76 ) (963 ) General and administrative on non-GAAP basis $ 34,250 $ 30,667 Loss from operations on GAAP basis $ (15,749 ) $ (34,610 ) Stock-based compensation expense 50,061 55,827 Amortization of acquired intangibles 2,015 2,020 Charitable donation of common stock 821 1,739 Acquisition related expenses 310 183 Other non-recurring charges 76 963 Income from operations on non-GAAP basis $ 37,534 $ 26,122 Other income (expense), net on GAAP basis $ 255 $ (9,971 ) Foreign exchange gains (losses), net (536 ) 9,954 Other non-recurring charges (1) 182 170 Other income (expense), net on non-GAAP basis $ (99 ) $ 153 Net loss attributable to GitLab common stockholders on GAAP basis $ (4,972 ) $ (35,875 ) Stock-based compensation expense 50,061 55,827 Amortization of acquired intangibles 2,015 2,020 Charitable donation of common stock 821 1,739 Acquisition related expenses 310 183 Foreign exchange gains (losses), net (536 ) 9,954 Income tax adjustment (2) (8,966 ) (5,631 ) Other non-recurring charges (1) 258 1,133 Net income attributable to GitLab common stockholders on non-GAAP basis $ 38,991 $ 29,350 GAAP net loss per share, basic $ (0.03 ) $ (0.22 ) GAAP net loss per share, diluted $ (0.03 ) $ (0.22 ) Non-GAAP net income per share, basic $ 0.23 $ 0.18 Non-GAAP net income per share, diluted $ 0.23 $ 0.17 Shares used in per share calculation - basic on GAAP basis 169,948 164,491 Effect of dilutive securities 1,567 5,669 Shares used in per share calculation - diluted on non-GAAP basis 171,515 170,160 ____________________ (1) Other non-recurring charges for the three months ended April 30, 2026 and 2025 included $0.3 million and $0.7 million related to the JiHu formation, respectively. (2) Income tax adjustment for the three months ended April 30, 2026 and 2025 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 April 30, 2026 2025 Computation of adjusted free cash flow (1) GAAP net cash provided by operating activities $ 149,197 $ 106,302 Less: Additions to property and equipment (2,393 ) (912 ) Less: Income tax refunds related to BAPA (77 ) (1,293 ) Non-GAAP adjusted free cash flow $ 146,727 $ 104,097 ____________________ (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/20260602438182/en/ Media Contact:
Jenn Malleo
Senior Director, Corporate Communications
GitLab Inc.
press@gitlab.com Investor Contact:
Yaoxian Chew
VP, Investor Relations
GitLab Inc.
ir@gitlab.com Original: GitLab Reports First Quarter Fiscal Year 2027 Financial Results
US Market News
4月前
GitLab Reports Fourth Quarter and Full Year Fiscal Year 2026 Financial Results; Board of Directors Authorizes $400 million for Share Repurchase ProgramMarch 3, 2026 4:05 PM
Business Wire
Fourth Quarter Fiscal Year 2026 Highlights:
Total revenue of $260.4 million, up 23% year-over-year
GAAP operating margin of (2)%; non-GAAP operating margin of 21%
Operating cash flow of $45.8 million and non-GAAP adjusted free cash flow of $41.8 million
Fiscal Year 2026 Highlights:
Total revenue of $955.2 million, up 26% year-over-year
GAAP operating margin of (7)%; non-GAAP operating margin of 17%
Operating cash flow of $232.9 million and non-GAAP adjusted free cash flow of $219.6 million
-All-Remote-GitLab Inc. (NASDAQ: GTLB), the intelligent orchestration platform for DevSecOps, today reported financial results for its fourth quarter fiscal year of 2026, ended January 31, 2026.
“GitLab sits at the heart of how enterprises build and deliver software,” said Bill Staples, GitLab chief executive officer. “The launch of the GitLab Duo Agent Platform brings intelligent orchestration to the full software lifecycle, with all of the context needed to unlock step-function gains across every task in software engineering. As code volume explodes, security, compliance, and governance are no longer optional; they're existential. GitLab was built for this environment.”
“Fiscal year 2026 saw GitLab cross $1 billion in ARR and deliver $220 million of free cash flow,” said Jessica Ross, GitLab chief financial officer. “We are building new multi-year growth drivers with GitLab Duo Agent Platform and hybrid pricing. Our new $400 million share repurchase authorization reflects confidence in the business and our commitment to delivering shareholder value.”
Fourth Quarter Fiscal Year 2026 Financial Highlights (in millions, except per share data and percentages):
Q4 FY 2026
Q4 FY 2025
Y/Y Change
Revenue
$
260.4
$
211.4
23
%
GAAP Gross margin
87
%
89
%
Non-GAAP Gross margin
89
%
91
%
GAAP Operating margin
(2
)%
(9
)%
Non-GAAP Operating margin
21
%
18
%
GAAP Operating loss
$
(5.2
)
$
(19.3
)
$
14.1
Non-GAAP Operating income
$
53.4
$
37.4
$
16.0
GAAP Net income (loss) attributable to GitLab
$
(2.6
)
$
6.9
$
(9.5
)
Non-GAAP Net income attributable to GitLab
$
51.7
$
56.7
$
(5.0
)
GAAP Net income (loss) per share attributable to GitLab, basic
$
(0.02
)
$
0.04
$
(0.06
)
GAAP Net income (loss) per share attributable to GitLab, diluted
$
(0.02
)
$
0.04
$
(0.06
)
Non-GAAP Net income per share attributable to GitLab, basic
$
0.31
$
0.35
$
(0.04
)
Non-GAAP Net income per share attributable to GitLab, diluted
$
0.30
$
0.33
$
(0.03
)
GAAP net cash provided by operating activities
$
45.8
$
63.2
$
(17.4
)
Non-GAAP adjusted free cash flow
$
41.8
$
62.1
$
(20.3
)
Fiscal Year 2026 Financial Highlights (in millions, except per share data and percentages):
FY 2026
FY 2025
Y/Y Change
Revenue
$
955.2
$
759.2
26
%
GAAP Gross margin
87
%
89
%
Non-GAAP Gross margin
89
%
91
%
GAAP Operating margin
(7
)%
(19
)%
Non-GAAP Operating margin
17
%
10
%
GAAP Operating loss
$
(70.5
)
$
(142.7
)
$
72.2
Non-GAAP Operating income
$
162.8
$
77.6
$
85.2
GAAP Net loss attributable to GitLab
$
(56.0
)
$
(6.3
)
$
(49.7
)
Non-GAAP Net income attributable to GitLab
$
165.5
$
124.8
$
40.7
GAAP Net loss per share attributable to GitLab, basic
$
(0.34
)
$
(0.04
)
$
(0.30
)
GAAP Net loss per share attributable to GitLab, diluted
$
(0.34
)
$
(0.04
)
$
(0.30
)
Non-GAAP Net income per share attributable to GitLab, basic
$
0.99
$
0.78
$
0.21
Non-GAAP Net income per share attributable to GitLab, diluted
$
0.96
$
0.74
$
0.22
GAAP net cash provided by (used in) operating activities
$
232.9
$
(64.0
)
$
296.9
Non-GAAP adjusted free cash flow
$
219.6
$
120.0
$
99.6
A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Non-GAAP Financial Measures.”
Additional Fourth Quarter Fiscal Year 2026 Financial Highlights:
Customers with more than $5,000 of ARR reached 10,682, an increase of 8% year-over-year.
Customers with more than $100,000 of ARR reached 1,456, an increase of 18% year-over-year.
Customers with more than $1 million of ARR reached 155, an increase of 26% year-over-year.
Dollar-Based Net Retention Rate was 118%.
Total RPO grew 20% year-over-year to $1.1 billion, while cRPO grew 24% to $719.4 million.
Business Highlights:
Announced the general availability of GitLab Duo Agent Platform, enabling intelligent orchestration and agentic AI automation across the software lifecycle with an organization’s full context, standards, and guardrails.
Introduced GitLab Credits, a usage-based pricing model for GitLab Duo Agent Platform capabilities that provides transparency into AI costs and enables customers to scale agent usage aligned with business value.
Appointed Jessica Ross as Chief Financial Officer and Siva Padisetty as Chief Technology Officer.
Recent Developments:
Held GitLab Transcend on February 10, 2026, an exclusive event for technology leaders conducted both virtually and in person across 12 cities, exploring intelligent orchestration across the software lifecycle and GitLab’s approach to moving software teams from stage-based to continuous software development.
GitLab Board authorized inaugural $400 million share repurchase program, reflecting confidence in the company's long-term growth trajectory and commitment to delivering shareholder value.
First Quarter and Fiscal Year 2027 Financial Outlook
For the first quarter and fiscal year 2027, GitLab Inc. expects (in millions, except share and per share data):
Q1 FY 2027
Guidance
FY 2027
Guidance
Revenue
$253.0 - $255.0
$1,099 - $1,118
Non-GAAP operating income
$32.0 - $34.0
$129 - $137
Non-GAAP diluted net income per share assuming approximately 173 million and 175 million weighted average shares outstanding during Q1 FY 2027 and FY 2027, respectively.
$0.20 - $0.21
$0.76 - $0.80
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 3, 2026, at 1:30 p.m. (PT) / 4:30 p.m. (ET) to discuss its fourth quarter and full fiscal year 2026 financial results and its guidance for the first quarter and full fiscal year 2027. Interested parties may register for the call in advance by visiting http://bit.ly/4aFo2cP. 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 intelligent orchestration platform for DevSecOps. 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.
*Fortune 500® is a registered trademark of Fortune Media IP Limited, used under license. Claim based on GitLab data. Fortune 100 refers to the top 20% ranked companies in the 2025 Fortune 500 list, published in June 2025. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of GitLab.
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 and FY27, 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, regulatory uncertainty (including with respect to the federal budget and potential government shutdowns), volatile capital markets, and actual or perceived 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)
January 31, 2026(1)
January 31, 2025(1)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$
229,576
$
227,649
Short-term investments
1,030,327
764,728
Accounts receivable, net of allowance for doubtful accounts of $967 and $991 as of January 31, 2026 and January 31, 2025, respectively
304,301
264,565
Deferred contract acquisition costs, current
42,676
38,964
Prepaid expenses and other current assets
48,899
40,411
Total current assets
1,655,779
1,336,317
Property and equipment, net
11,815
4,013
Goodwill
17,379
16,139
Intangible assets, net
9,774
17,834
Deferred contract acquisition costs, non-current
23,705
20,142
Other non-current assets
4,295
4,818
TOTAL ASSETS
$
1,722,747
$
1,399,263
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable
$
9,205
$
7,519
Accrued expenses and other current liabilities
58,185
54,680
Accrued compensation and benefits
39,657
40,233
Deferred revenue, current
545,096
442,599
Total current liabilities
652,143
545,031
Deferred revenue, non-current
26,994
26,369
Other non-current liabilities
7,362
6,557
TOTAL LIABILITIES
686,499
577,957
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.0000025 par value; 50,000 shares authorized; no shares issued and outstanding as of January 31, 2026 and January 31, 2025
—
—
Class A Common stock, $0.0000025 par value; 1,500,000 shares authorized; 153,336 and 144,444 shares issued and outstanding as of January 31, 2026 and January 31, 2025, respectively
—
—
Class B Common stock, $0.0000025 par value; 250,000 shares authorized; 16,732 and 19,469 shares issued and outstanding as of January 31, 2026 and January 31, 2025, respectively
—
—
Additional paid-in capital
2,207,361
1,952,031
Accumulated deficit
(1,223,570
)
(1,167,614
)
Accumulated other comprehensive income (loss)
6,877
(8,508
)
Total GitLab stockholders’ equity
990,668
775,909
Noncontrolling interests
45,580
45,397
TOTAL STOCKHOLDERS’ EQUITY
1,036,248
821,306
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
1,722,747
$
1,399,263
__________
(1) As of January 31, 2026 and January 31, 2025, the condensed consolidated balance sheets include assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $41.0 million and $46.5 million, respectively, and liabilities of $7.1 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 January 31,
Fiscal Year Ended January 31,
2026
2025
2026
2025
Revenue:
Subscription—self-managed and SaaS
$
234,277
$
185,562
$
864,704
$
675,179
License—self-managed and other
26,125
25,869
90,520
84,070
Total revenue
260,402
211,431
955,224
759,249
Cost of revenue:
Subscription—self-managed and SaaS
28,297
17,277
94,502
64,916
License—self-managed and other
6,685
5,592
26,241
20,224
Total cost of revenue
34,982
22,869
120,743
85,140
Gross profit
225,420
188,562
834,481
674,109
Operating expenses:
Sales and marketing
112,581
98,753
434,725
384,295
Research and development
68,961
62,885
274,574
239,652
General and administrative
49,042
46,262
195,663
192,877
Total operating expenses
230,584
207,900
904,962
816,824
Loss from operations
(5,164
)
(19,338
)
(70,481
)
(142,715
)
Interest income
11,630
10,292
45,707
47,735
Other income (expense), net
(6,075
)
4,017
(23,291
)
9,187
Income (loss) before income taxes
391
(5,029
)
(48,065
)
(85,793
)
Provision for (benefit from) income taxes
3,904
(11,344
)
10,499
(76,674
)
Net income (loss)
$
(3,513
)
$
6,315
$
(58,564
)
$
(9,119
)
Net loss attributable to noncontrolling interest
(916
)
(577
)
(2,608
)
(2,793
)
Net income (loss) attributable to GitLab
$
(2,597
)
$
6,892
$
(55,956
)
$
(6,326
)
Net Income (loss) per share attributable to GitLab Class A and Class B common stockholders:
Basic
$
(0.02
)
$
0.04
$
(0.34
)
$
(0.04
)
Diluted
$
(0.02
)
$
0.04
$
(0.34
)
$
(0.04
)
Weighted-average shares used to compute net income (loss) per share attributable to GitLab Class A and Class B common stockholders:
Basic
169,231
163,055
166,792
160,580
Diluted
169,231
170,094
166,792
160,580
GitLab Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended January 31,
Fiscal Year Ended January 31,
2026
2025
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss), including amounts attributable to noncontrolling interest
$
(3,513
)
$
6,315
$
(58,564
)
$
(9,119
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense, net of amounts capitalized
53,158
46,636
214,951
185,899
Change in fair value of acquisition related contingent consideration
—
—
—
3,750
Charitable donation of common stock
1,597
2,956
7,093
11,827
Amortization of intangible assets
2,015
2,195
8,065
8,126
Depreciation and amortization
1,096
499
3,280
2,860
Amortization of deferred contract acquisition costs
14,139
14,064
54,886
49,714
Net amortization of premiums or discounts on short-term investments
(861
)
(3,813
)
(8,207
)
(16,746
)
Unrealized foreign exchange loss (gain), net
5,425
(4,083
)
18,811
(9,526
)
Other non-cash expense, net
367
162
998
930
Changes in assets and liabilities:
Accounts receivable
(82,033
)
(67,991
)
(35,718
)
(99,649
)
Prepaid expenses and other current assets
(3,832
)
5,927
(8,122
)
8,424
Deferred contract acquisition costs
(22,966
)
(22,421
)
(59,294
)
(58,127
)
Other non-current assets
395
(1,034
)
809
(183
)
Accounts payable
794
5,472
1,606
5,505
Accrued expenses and other current liabilities
(624
)
(12,755
)
1,238
(253,369
)
Accrued compensation and benefits
5,765
13,558
(2,130
)
4,743
Deferred revenue
75,781
74,240
93,281
108,743
Other non-current liabilities
(946
)
3,295
(127
)
(7,773
)
Net cash provided by (used in) operating activities
45,757
63,222
232,856
(63,971
)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments
(213,209
)
(204,304
)
(1,011,492
)
(707,698
)
Proceeds from maturities of short-term investments
164,139
183,520
753,666
708,382
Proceeds from sales of short-term investments
—
—
1,367
—
Additions to property and equipment
(3,973
)
(1,157
)
(10,827
)
(3,765
)
Payments for business combination, net of cash acquired
—
—
—
(20,210
)
Payments for asset acquisition
—
—
—
(7,660
)
Other investing activities
—
—
—
457
Net cash used in investing activities
(53,043
)
(21,941
)
(267,286
)
(30,494
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases
6,324
6,069
21,781
23,964
Issuance of common stock under employee stock purchase plan
5,571
5,624
13,975
13,556
Payments for taxes related to net share settlement of equity awards
(416
)
—
(945
)
—
Settlement of acquisition related contingent cash consideration
—
—
—
(4,900
)
Net cash provided by financing activities
11,479
11,693
34,811
32,620
Impact of foreign exchange on cash and cash equivalents
1,152
(1,957
)
1,546
1,498
Net increase (decrease) in cash and cash equivalents
5,345
51,017
1,927
(60,347
)
Cash and cash equivalents at beginning of period
224,231
176,632
227,649
287,996
Cash and cash equivalents at end of period
$
229,576
$
227,649
$
229,576
$
227,649
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,
2026
2025
2026
2025
Gross profit on GAAP basis
$
225,420
$
188,562
$
834,481
$
674,109
Gross margin on GAAP basis
87
%
89
%
87
%
89
%
Stock-based compensation expense
3,823
1,998
10,313
7,922
Amortization of acquired intangibles
2,015
2,195
8,065
8,126
Restructuring charges
153
—
153
—
Gross profit on non-GAAP basis
$
231,411
$
192,755
$
853,012
$
690,157
Gross margin on non-GAAP basis
89
%
91
%
89
%
91
%
Sales and marketing on GAAP basis
$
112,581
$
98,753
$
434,725
$
384,295
Stock-based compensation expense
(19,572
)
(18,664
)
(78,967
)
(72,954
)
Restructuring charges
(1,493
)
—
(1,493
)
(1,126
)
Sales and marketing on non-GAAP basis
$
91,516
$
80,089
$
354,265
$
310,215
Research and development on GAAP basis
$
68,961
$
62,885
$
274,574
$
239,652
Stock-based compensation expense
(14,725
)
(15,478
)
(63,754
)
(58,312
)
Restructuring charges
—
—
—
(393
)
Research and development on non-GAAP basis
$
54,236
$
47,407
$
210,820
$
180,947
General and administrative on GAAP basis
$
49,042
$
46,262
$
195,663
$
192,877
Stock-based compensation expense
(15,038
)
(10,496
)
(61,917
)
(46,711
)
Restructuring charges
—
—
—
(377
)
Charitable donation of common stock
(1,597
)
(2,957
)
(7,093
)
(11,828
)
Changes in the fair value of acquisition related contingent consideration
—
—
—
(3,750
)
Acquisition related expenses
(216
)
(391
)
(877
)
(3,240
)
Other non-recurring charges
77
(4,538
)
(614
)
(5,622
)
General and administrative on non-GAAP basis
$
32,268
$
27,880
$
125,162
$
121,349
Loss from operations on GAAP basis
$
(5,164
)
$
(19,338
)
$
(70,481
)
$
(142,715
)
Stock-based compensation expense
53,158
46,636
214,951
185,899
Amortization of acquired intangibles
2,015
2,195
8,065
8,126
Restructuring charges
1,646
—
1,646
1,896
Charitable donation of common stock
1,597
2,957
7,093
11,828
Changes in the fair value of acquisition related contingent consideration
—
—
—
3,750
Acquisition related expenses
216
391
877
3,240
Other non-recurring charges
(77
)
4,538
614
5,622
Income from operations on non-GAAP basis
$
53,391
$
37,379
$
162,765
$
77,646
Other income (expense), net on GAAP basis
$
(6,075
)
$
4,017
$
(23,291
)
$
9,187
Foreign exchange gains (losses), net
6,032
(3,860
)
19,465
(9,416
)
Other non-recurring charges (1)
178
173
4,234
690
Other income, net on non-GAAP basis
$
135
$
330
$
408
$
461
Net income (loss) attributable to GitLab common stockholders on GAAP basis
$
(2,597
)
$
6,892
$
(55,956
)
$
(6,326
)
Stock-based compensation expense
53,158
46,636
214,951
185,899
Amortization of acquired intangibles
2,015
2,195
8,065
8,126
Restructuring charges
1,646
—
1,646
1,896
Charitable donation of common stock
1,597
2,957
7,093
11,828
Changes in the fair value of acquisition related contingent consideration
—
—
—
3,750
Acquisition related expenses
216
391
877
3,240
Foreign exchange gains (losses), net
6,032
(3,860
)
19,465
(9,416
)
Income tax adjustment (2)
(10,428
)
(3,222
)
(35,454
)
(80,468
)
Other non-recurring charges (1)
101
4,711
4,848
6,312
Net income attributable to GitLab common stockholders on non-GAAP basis
$
51,740
$
56,700
$
165,535
$
124,841
GAAP net income (loss) per share, basic
$
(0.02
)
$
0.04
$
(0.34
)
$
(0.04
)
GAAP net income (loss) per share, diluted
$
(0.02
)
$
0.04
$
(0.34
)
$
(0.04
)
Non-GAAP net income per share, basic
$
0.31
$
0.35
$
0.99
$
0.78
Non-GAAP net income per share, diluted
$
0.30
$
0.33
$
0.96
$
0.74
Shares used in per share calculation - basic on GAAP basis
169,231
163,055
166,792
160,580
Effect of dilutive securities
2,882
7,039
4,822
7,909
Shares used in per share calculation - diluted on non-GAAP basis
172,113
170,094
171,614
168,489
(1) Other non-recurring charges for the twelve months ended January 31, 2026 includes a $3.5 million indirect tax credit expense related to the JiHu formation, reflecting a change in accounting estimate.
(2) Income tax adjustment for the three and twelve months ended January 31, 2026 primarily reflects an assumed provision for income taxes based on our long-term projected tax rate of 22%, while for the three and twelve months ended January 31, 2025 consists primarily of one-time charges associated with the formation of Jihu and BAPA negotiations.
GitLab Inc.
Reconciliation of GAAP Cash Flow from Operating Activities to Adjusted Free Cash Flow
(in thousands)
(unaudited)
Three Months Ended January 31,
Fiscal Year Ended January 31,
2026
2025
2026
2025
Computation of adjusted free cash flow (1)
GAAP net cash provided by (used in) operating activities
$
45,757
$
63,222
$
232,856
$
(63,971
)
Less: Additions to property and equipment
(3,973
)
(1,157
)
(10,827
)
(3,765
)
Add: Income tax payments (refunds) related to BAPA
(28
)
—
(2,479
)
187,735
Non-GAAP adjusted free cash flow
$
41,756
$
62,065
$
219,550
$
119,999
(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/20260303140705/en/
Media Contact:
Lisa Boughner
VP, Global Communications
GitLab Inc.
press@gitlab.com
Investor Contact:
Yaoxian Chew
VP, Investor Relations
GitLab Inc.
ir@gitlab.com
Original: GitLab Reports Fourth Quarter and Full Year Fiscal Year 2026 Financial Results; Board of Directors Authorizes $400 million for Share Repurchase Program
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