Business
GitLab Reports Fourth Quarter and Full Year 2023 Financial Results
Quarterly revenue of $122.9 million, up 58% year-over-year Fiscal Fourth Quarter Highlights: Total revenue of $122.9 millionGAAP operating margin of (38)%;
About this update from Gitlab Inc.
[{"type":"text","content":"Quarterly revenue of $122.9 million, up 58% year-over-year\nFiscal Fourth Quarter Highlights: Total revenue of $122.9 millionGAAP operating margin of (38)%; Non-GAAP operating margin of (11)%GAAP net loss per share of $(0.26); Non-GAAP net loss per share of $(0.03) Fiscal Year 2023 Highlights: Total revenue of $424.3 millionGAAP operating margin of (50)%; Non-GAAP operating margin of (21)%GAAP net loss per share of $(1.16); Non-GAAP net loss per share of $(0.46) SAN FRANCISCO, March 13, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its fourth quarter and full fiscal year of 2023, ended January 31, 2023. “Now more than ever, it is critical for companies to show an immediate return on their software investments,” said Sid Sijbrandij, co-founder and CEO, GitLab Inc. “With our DevSecOps platform, our customers are consolidating tools, reducing integration costs, increasing productivity, and accelerating their revenue by deploying their software faster. We believe we are well positioned to continue to demonstrate significant value to our customers in the current macroeconomic environment.” “Our fourth quarter results demonstrate our continued focus on growth while driving improvements in the unit economics of the business,” said Brian Robins, CFO, GitLab Inc. “Revenue of $122.9 million grew 58% organically, and our non-GAAP operating margin improved by approximately 2,400 basis points year-over-year. We see significant opportunities ahead, and we’re confident in the value that GitLab provides to customers.” Fourth Quarter Fiscal Year 2023 Financial Highlights (in millions, except per share data and percentages): Q4 FY 2023 Q4 FY 2022 Y/Y ChangeRevenue$122.9 $77.8 58%GAAP Gross margin 88% 88% Non-GAAP Gross margin 90% 89% GAAP Operating loss$(46.3) $(40.6) $(5.7)Non-GAAP Operating loss$(13.8) $(27.4) $13.6 GAAP Net loss attributable to GitLab$(38.7) $(45.8) $7.1 Non-GAAP Net loss attributable to GitLab$(4.5) $(23.2) $18.7 GAAP Net loss per share attributable to GitLab$(0.26) $(0.32) $0.06 Non-GAAP Net loss per share attributable to GitLab$(0.03) $(0.16) $0.13 Fiscal Year 2023 Financial Highlights (in millions, except per share data and percentages): FY 2023 FY 2022 Y/Y ChangeRevenue$424.3 $252.7 68%GAAP Gross margin 88% 88% Non-GAAP Gross margin 90% 89% G...