Business
GitLab Reports First Quarter Fiscal Year 2024 Financial Results
Quarterly revenue of $126.9 million, up 45% year-over-year Fiscal First Quarter Highlights: Total revenue of $126.9 millionGAAP operating margin of (46)%;
About this update from Gitlab Inc.
[{"type":"text","content":"Quarterly revenue of $126.9 million, up 45% year-over-year Fiscal First Quarter Highlights: Total revenue of $126.9 millionGAAP operating margin of (46)%; Non-GAAP operating margin of (12)%GAAP net loss per share of $(0.35); Non-GAAP net loss per share of $(0.06) SAN FRANCISCO, June 05, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its first quarter fiscal year 2024, ended April 30, 2023. “With AI revolutionizing how companies develop, secure, and operate software, we believe GitLab is positioned as the leading AI-powered DevSecOps platform,” said Sid Sijbrandij, GitLab CEO and Co-Founder. “Today, we deliver more AI-powered capabilities to customers than any other DevSecOps platform. Our vision builds on that foundation to encompass the full software development lifecycle - from planning and development to security, deployment, and maintenance. With GitLab customers accelerate the time to value of their digital transformation efforts.” “Revenue of $126.9 million grew 45% organically year-over-year, and our non-GAAP operating margin improved by approximately 1,700 basis points year-over-year as the team continued to focus on addressing customer priorities and improving operating efficiency,” said Brian Robins, GitLab Chief Financial Officer. “Against a backdrop of macroeconomic uncertainty, customers are looking to our AI-powered DevSecOps platform to drive efficiencies, increase productivity, and accelerate their pace of innovation. We are poised to make the most of the estimated $40B total addressable market opportunity before us.” First Quarter Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages): Q1 FY 2024 Q1 FY 2023 Y/Y ChangeRevenue$126.9 $87.4 45%GAAP Gross margin 89% 89% Non-GAAP Gross margin 91% 90% GAAP Operating loss$(58.2) $(42.9) $(15.3)Non-GAAP Operating loss$(15.0) $(24.8) $9.8 GAAP Net loss attributable to GitLab$(52.5) $(26.1) $(26.4)Non-GAAP Net loss attributable to GitLab$(8.8) $(26.5) $17.7 GAAP Net loss per share attributable to GitLab$(0.35) $(0.18) $(0.17)Non-GAAP Net loss per share attributable to GitLab$(0.06) $(0.18) $0.12 A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Non-GAAP Financial Measures.” Business Highlights...