Business
GitLab Reports Second Quarter Fiscal Year 2024 Financial Results
Quarterly revenue of $139.6 million, up 38% year-over-year Fiscal Second Quarter Highlights: Total revenue of $139.6 millionGAAP operating margin of (39)%;
About this update from Gitlab Inc.
[{"type":"text","content":"Quarterly revenue of $139.6 million, up 38% year-over-year Fiscal Second Quarter Highlights: Total revenue of $139.6 millionGAAP operating margin of (39)%; Non-GAAP operating margin of (3)%GAAP net loss per share of $(0.33); Non-GAAP net income per share of $0.01 SAN FRANCISCO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its second quarter fiscal year 2024, ended July 31, 2023. “GitLab’s strong quarter is a result of our focus on creating a differentiated and innovative DevSecOps platform and executing on a strong go-to-market motion,” said Sid Sijbrandij, GitLab CEO and co-founder. “In addition, Gartner and Forrester recognized GitLab as a category leader, which is an important milestone for the company and signals the shift from point solutions to platforms. We believe that our rapid pace of product innovation and strong customer demand position us to capture a greater share of the estimated $40 billion total addressable market opportunity.” “We are pleased with our continued business momentum as it shows the value proposition of our market-leading DevSecOps platform is resonating in the market,” said Brian Robins, GitLab chief financial officer. “Our revenue of $139.6 million this quarter represents an increase of 38% organically from the prior year, which shows that we continue to execute while driving responsible growth.” Second Quarter Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages): Q2 FY 2024 Q2 FY 2023 Y/Y ChangeRevenue$139.6 $101.0 38%GAAP Gross margin 89% 87% Non-GAAP Gross margin 91% 89% GAAP Operating loss$(54.1) $(65.3) $11.2 Non-GAAP Operating loss$(4.3) $(27.0) $22.7 GAAP Net loss attributable to GitLab$(50.1) $(59.0) $8.9 Non-GAAP Net income (loss) attributable to GitLab$1.9 $(21.5) $23.4 GAAP Net loss per share attributable to GitLab$(0.33) $(0.40) $0.07 Non-GAAP Net income (loss) per share attributable to GitLab$0.01 $(0.15) $0.16 A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Non-GAAP Financial Measures.” Business Highlights: Customers with more than $5,000 of ARR increased to 7,815, up 33% from Q2 of fiscal year 2023.Customers with more than $100,000 of ARR increased to 810, up 37% from Q2 of fiscal year 2...