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GitLab
🇺🇸 NASDAQ:GTLB
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Jan 31, 2024

GitLab Q4 2024 Earnings Report

GitLab's Q4 2024 financial results were reported, showing revenue growth and continued business momentum.

Key Takeaways

GitLab reported a strong fourth quarter with revenue of $163.8 million, up 33% year-over-year. The company achieved significant non-GAAP operating margin expansion and breakeven cash flow, driven by enterprise customer standardization and AI integration in the DevSecOps platform.

Total revenue reached $163.8 million, a 33% increase year-over-year.

GAAP operating margin was (21)%, while non-GAAP operating margin was 8%.

GAAP net loss per share was $(0.23), and non-GAAP net income per share was $0.15.

Dollar-Based Net Retention Rate was 130%.

Total Revenue
$164M
Previous year: $123M
+33.3%
EPS
$0.15
Previous year: -$0.03
-600.0%
Dollar-Based NRR
130%
Previous year: 133%
-2.3%
Customers ARR > $5K
8.6K
Previous year: 7K
+22.9%
Customers ARR > $100K
955
Previous year: 697
+37.0%
Gross Profit
$148M
Previous year: $109M
+36.0%
Cash and Equivalents
$288M
Previous year: $295M
-2.5%
Free Cash Flow
$24.5M
Previous year: -$12.8M
-291.8%
Total Assets
$1.32B
Previous year: $1.17B
+12.7%

GitLab

GitLab

GitLab Revenue by Segment

Forward Guidance

For Q1 2025, GitLab expects revenue of $165.0 - $166.0 million and non-GAAP operating loss of $(13.0) - $(12.0) million. For FY 2025, GitLab expects revenue of $725.0 - $731.0 million and non-GAAP operating income of $5.0 - $10.0 million.

Positive Outlook

  • Revenue is expected to be between $165.0 million and $166.0 million.
  • Non-GAAP operating loss is projected to be between $(13.0) million and $(12.0) million.
  • Non-GAAP diluted net loss per share is expected to be between $(0.05) and $(0.04).
  • Revenue is projected to be between $725.0 million and $731.0 million.
  • Non-GAAP operating income is expected to be between $5.0 million and $10.0 million.

Challenges Ahead

  • These statements are forward-looking and actual results may differ materially as a result of many factors.
  • A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release.
  • 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.
  • 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.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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