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Oct 31, 2023
GitLab Q3 2024 Earnings Report
GitLab's third quarter of fiscal year 2024 financial results were reported, showing revenue growth and progress towards profitability.
Key Takeaways
GitLab reported a strong Q3 FY2024 with revenue of $149.7 million, up 32% year-over-year. The company achieved its first quarter of non-GAAP operating profit while continuing investments in key product areas.
Total revenue reached $149.7 million, a 32% increase year-over-year.
GAAP operating margin was (27)%, while non-GAAP operating margin was 3%.
GAAP net loss per share was $(1.84), and non-GAAP net income per share was $0.09.
Customers with ARR over $100,000 increased by 37% year-over-year.
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 $157.0 million and $158.0 million for Q4 FY2024, and between $573.0 million and $574.0 million for the full fiscal year 2024. Non-GAAP operating income is expected to be between $5.0 million and $6.0 million for Q4 FY2024, and between $(10.0) million and $(9.0) million for the full fiscal year 2024.
Positive Outlook
- Revenue is expected to be between $157.0 million and $158.0 million for Q4 FY2024.
- Full year revenue is projected to be between $573.0 million and $574.0 million.
- Non-GAAP operating income is expected to be between $5.0 million and $6.0 million for Q4 FY2024.
- Non-GAAP net income per share is projected to be between $0.08 and $0.09 for Q4 FY2024.
- Full year non-GAAP net income per share is expected to be between $0.12 and $0.13.
Challenges Ahead
- Non-GAAP operating income is expected to be between $(10.0) million and $(9.0) million for the full fiscal year 2024.
- Actual results may differ materially due to various factors.
- These statements are forward-looking.
- The company has not provided the most directly comparable GAAP financial guidance measures.
- A reconciliation of non-GAAP guidance for operating loss and net loss per share to the corresponding GAAP measures is not available.
Revenue & Expenses
Visualization of income flow from segment revenue to net income