Business
GitLab Reports Third Quarter Fiscal Year 2024 Financial Results
Quarterly revenue of $149.7 million, up 32% year-over-year Fiscal Third Quarter Highlights: Total revenue of $149.7 millionGAAP operating margin of (27)%;
About this update from Gitlab Inc.
[{"type":"text","content":"Quarterly revenue of $149.7 million, up 32% year-over-year Fiscal Third Quarter Highlights: Total revenue of $149.7 millionGAAP operating margin of (27)%; Non-GAAP operating margin of 3%GAAP net loss per share of $(1.84); Non-GAAP net income per share of $0.09 SAN FRANCISCO, Dec. 04, 2023 (GLOBE NEWSWIRE) -- All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevSecOps Platform, today reported financial results for its third quarter fiscal year 2024, ended October 31, 2023. “We delivered a strong quarter, which was driven by the continued adoption of our DevSecOps Platform,” said Sid Sijbrandij, GitLab CEO and co-founder. “GitLab is the only DevSecOps company that integrates security, compliance, and AI into one platform. With enterprises facing complexity from all directions, they need a partner to help them realize business value. GitLab helps improve developer productivity and reduces software spend, which is why our customers report seeing 7x faster cycle times with GitLab.” “Revenue grew 32% year-over-year, which demonstrates continued business momentum driven by our market-leading platform approach,” said Brian Robins, GitLab chief financial officer. We continue to grow responsibly and delivered over 2,200 basis points of non-GAAP operating margin expansion. I am pleased to share that we had our first quarter of non-GAAP operating profit while continuing to invest in key product areas including security, compliance, AI, and Enterprise Agile Planning.” Third Quarter Fiscal Year 2024 Financial Highlights (in millions, except per share data and percentages): Q3 FY 2024 Q3 FY 2023 Y/Y ChangeRevenue$149.7 $113.0 32%GAAP Gross margin 90% 87% Non-GAAP Gross margin 91% 89% GAAP Operating loss$(40.3) $(57.0) $16.7 Non-GAAP Operating income (loss)$4.7 $(21.6) $26.3 GAAP Net loss attributable to GitLab$(285.2) $(48.5) $(236.7)Non-GAAP Net income (loss) attributable to GitLab$14.4 $(15.2) $29.6 GAAP Net loss per share attributable to GitLab$(1.84) $(0.33) $(1.51)Non-GAAP Net income (loss) per share attributable to GitLab$0.09 $(0.10) $0.19 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 8,175, up 26% from Q3 of fiscal year 2023.Customers with more than $100,000 of ARR incr...