Business
GitLab Reports Fourth Quarter and Full Year 2024 Financial Results
Quarterly revenue of $163.8 million, up 33% year-over-year Fiscal Fourth Quarter Highlights: Total revenue of $163.8 millionGAAP operating margin of (21)%;
About this update from Gitlab Inc.
[{"type":"text","content":"Quarterly revenue of $163.8 million, up 33% year-over-year Fiscal Fourth Quarter Highlights: Total revenue of $163.8 millionGAAP operating margin of (21)%; Non-GAAP operating margin of 8%GAAP net loss per share of $(0.23); Non-GAAP net income per share of $0.15 Fiscal Year 2024 Highlights: Total revenue of $579.9 millionGAAP operating margin of (32)%; Non-GAAP operating margin of (0.2)%GAAP net loss per share of $(2.75); Non-GAAP net income per share of $0.20 SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its fourth quarter and full fiscal year of 2024, ended January 31, 2024. “We delivered a strong fourth quarter and continue to see large enterprise customers standardize on GitLab to realize business value,” said Sid Sijbrandij, GitLab CEO and co-founder. “By integrating AI throughout the software development lifecycle, our DevSecOps platform allows our customers to plan, build, manage, and deliver software more efficiently, ultimately scaling the impact their software investments have on business outcomes. We believe this puts us in a strong position to continue to win the large market opportunity in front of us.” “In Q4, revenue grew 33% year-over-year, and we delivered over 1,900 basis points of non-GAAP operating margin expansion year-over-year, demonstrating continued business momentum driven by our commitment to deliver value to customers with our market-leading DevSecOps platform,” said Brian Robins, GitLab chief financial officer. “I’m pleased to share that with consistent execution across the business in FY24 we delivered breakeven cash flow a year ahead of our commitment and recorded our second consecutive quarter of non-GAAP operating profit while continuing to invest in key product areas. These milestones are a testament to our approach to responsible growth.” Fourth Quarter Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages): Q4 FY 2024 Q4 FY 2023 Y/Y ChangeRevenue$163.8 $122.9 33%GAAP Gross margin 90% 88% Non-GAAP Gross margin 92% 90% GAAP Operating loss$(34.9) $(46.3) $11.4 Non-GAAP Operating income (loss)$13.2 $(13.8) $27.0 GAAP Net loss attributable to GitLab$(36.5) $(38.7) $2.2 Non-GAAP Net income (loss) attributable to GitLab$25.0 $(4.5) $29.5 GAAP Net loss per share ...