Loading...
•
Oct 31, 2022
GitLab Q3 2023 Earnings Report
GitLab's Q3 2023 financial results were reported, demonstrating strong revenue growth and improved margins.
Key Takeaways
GitLab reported a 69% year-over-year increase in revenue, reaching $113.0 million in Q3 2023. The company's dollar-based net retention rate exceeded 130%, and non-GAAP operating margin improved significantly. GitLab also provided guidance for Q4 2023, projecting revenue between $119.0 and $120.0 million.
Total revenue reached $113.0 million, up 69% year-over-year.
GAAP operating margin was (50)%, while non-GAAP operating margin was (19)%.
GAAP net loss per share was $(0.33), and non-GAAP net loss per share was $(0.10).
Dollar-Based Net Retention Rate remained above 130%.
GitLab
GitLab
GitLab Revenue by Segment
Revenue by Segment
Subscription - Self-managed Revenue
CapyFin.comLicense - Self-managed Revenue
CapyFin.com Forward Guidance
GitLab expects revenue between $119.0 and $120.0 million for the fourth quarter of fiscal year 2023. They also anticipate a non-GAAP operating loss between $(27.0) and $(26.0) million, and a non-GAAP net loss per share between $(0.15) and $(0.14).
Positive Outlook
- Revenue between $119.0 - $120.0 million
- Non-GAAP operating loss between $(27.0) - $(26.0) million
- Non-GAAP net loss per share between $(0.15) - $(0.14)
- Approximately 150 million weighted average shares outstanding as of Q4 FY2023
- Guidance excludes stock-based compensation expense, amortization of acquired intangible assets, foreign exchange (gain) loss, and equity investment (gain) loss.
Challenges Ahead
- Non-GAAP operating loss is still expected
- Non-GAAP net loss per share is still expected
- Actual results may differ materially as a result of many factors
- These are forward-looking statements
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income