Slide 1: Investor Presentation Third Quarter Fiscal Year 2025
Investor Presentation Third Quarter Fiscal Year 2025
Slide 2: Forward-looking statements
This presentation contains “forward-looking statementsˮ within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to,
Slide 3: Third quarter commentary
Third quarter commentary © 2024 GitLab Inc.
Slide 4: Bill Staples, GitLab CEO and board member
Bill Staples GitLab CEO and board member © 2024 GitLab Inc.
Slide 5: GitLab at a glance
GitLab at a glance $784M 31% 13% 5% Q3 FY25 Non-GAAP Adj. Run-Rate Revenue1 YoY Run-Rate Revenue Growth1 Q3 FY25 Non-GAAP Operating Margin1 Free Cash Flow Margin1 124% Dollar-Based Net Retention Rate 1 9,519 Base Customers 1 1,144 $100K ARR Customers1 1 Platform Note: Figures as of the three months
Slide 6: Every organization must be great at developing, securing, & deploying software
Every organization must be great at developing, securing, & deploying software. © 2024 GitLab Inc.
Slide 7: AI-assisted workflows for everyone in the software development lifecycle
21% Time spent coding Improved planning Faster coding AI-assisted workflows for everyone in the software development lifecycle Faster onboarding Throughout the software development lifecycle Improved security Privacy and transparency first Automated testing Better documentation The right AI models f
Slide 8: Insurance & Financial Services Company: $2M+ saved
Insurance & Financial Services Company Ultimate + Duo Enterprise $2M+ saved 45% less time by replacing 4 point products by end of 2024 spent on mundane coding tasks © 2024 GitLab Inc.
Slide 9: Largest Airline in Latin America
Largest Airline in Latin America Ultimate + Duo Enterprise Toolchain consolidation Improve productivity Reduce costs Security and AI throughout © 2024 GitLab Inc.
Slide 10: An end-to-end software development and deployment workflow
How we differentiate An end-to-end software development and deployment workflow GitLab Duo Chat Epics Push Code Automated Test Scan Collaboration & Review Epic summary Code explanation Test generation Vulnerability explanation Code review summary and resolution Code refactoring Root cause analysis D
Slide 11: Self-hosted models & offline support
How we differentiate Self-hosted models Self-hosted models Name Endpoint API token Status & offline support Mistral Model 1 http://127.0.0.111434/v1 Working Mistral Model 1 http://127.0.0.111434/2 Warning Self-hosted models allow customers to meet AI compliance and privacy requirements by Mistral
Slide 12: Transparency and privacy first
How we differentiate Transparency and privacy first #1 Privacy and data GitLab Duo does not use customer proprietary security is the top code as training data. The models we use are concern for AI not trained on private GitLab data. adoption in software development Our publicly available documentati
Slide 13: Accelerate modern application development with AI-powered DevSecOps and autonomous AI agents
Accelerate modern application development with AI-powered DevSecOps paired with autonomous AI agents in GitLab. © 2024 GitLab Inc.
Slide 14: The future of AI driven software development
The future of AI driven software development Workflow Fully autonomous AI agent that proactively supports developers as they develop, deploy, and secure software. Transitioning from reactive, prompt–based AI to proactive, autonomous AI that drives software development and delivery. GitLab Duo Workfl
Slide 15: GitLab Ultimate
GitLab Ultimate Built for organization-wide security, compliance, and planning Increase operational efficiencies A single, scalable interface for organization-wide DevSecOps Reduce security and compliance risk Manage risk with built-in security testing and achieve regulatory compliance Deliver bette
Slide 16: GitLab Ultimate: Security
GitLab Ultimate Security Shifting security left to embed it earlier in the development process Integrated security improves code quality, accelerates cycle times, and provides developers a seamless experience. In Q3 FY25 Advanced SAST became generally available. This proprietary detection engine ena
Slide 17: GitLab Dedicated
GitLab Ultimate GitLab Dedicated Flexibility & efficiency A single-tenant Enterprise SaaS of a SaaS solution DevSecOps platform The ideal solution for regulated industries and organizations with complex compliance needs. GitLab Dedicated provides all of the benefits of an Control & enterprise DevSec
Slide 18: Thank you!
Thank you! © 2024 GitLab Inc.
Slide 19: Financial highlights
Financial highlights © 2024 GitLab Inc.
Slide 20: Strong momentum at scale
32% 2Year CAGR Strong momentum at scale Run-Rate Revenue1 (millions) 1 © 2024 GitLab Inc. Definition can be found in the Appendix.
Slide 21: Growing customer base
Growing customer base Base Customers 1 Customers Generating > $100k ARR 1 © 2024 GitLab Inc. Definition can be found in the Appendix.
Slide 22: Focus on disciplined resource allocation
Focus on disciplined resource allocation Non-GAAP Gross Margin 1 Non-GAAP Operating Expenses 1,2 % of Revenue) 1 © 2024 GitLab Inc. Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure. 2 Q1FY25 G&A expenses include $15 million expense related to our in-perso
Slide 23: Investment in growth while expanding margins
Investment in growth while expanding margins Non-GAAP Operating Income / Loss1,2 % of Revenue) Non-GAAP Adjusted Free Cash Flow1 % of Revenue) Significant year-over-year operating margin expansion Cash efficient business 1 © 2024 GitLab Inc. Non-GAAP metrics-see Appendix for reconciliation with
Slide 24: Financial outlook
Financial outlook Fourth Quarter 2025 $ in millions, except per share data) Q4 FY 2025 Guidance FY 2025 Guidance Revenue $205.0 $206.0 $753 $754 Non-GAAP Operating Income $28.0 $29.0 $69 $70 Non-GAAP Net Income per Share $0.22 $0.23 $0.63 $0.64 © 2024 GitLab Inc. Note: Non-GAAP diluted
Slide 25: A comprehensive DevSecOps platform
The solution A comprehensive DevSecOps platform © 2024 GitLab Inc.
Slide 26: Questions?
Questions? © 2024 GitLab Inc.
Slide 27: Appendix
Appendix © 2024 GitLab Inc.
Slide 28: GAAP to Non-GAAP Reconciliation: Gross Profit
GAAP to Non-GAAP Reconciliation Gross Profit $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 GAAP Gross Profit $372,656 $520,198 $134,584 $173,922 Stock-based Compensation Expense $5,078 $6,400 $1,648 $1,993 Amortization of Intangible Assets $2,067 $2,067 $521 $2,511 Restructuring Charges $0 $463 $
Slide 29: GAAP to Non-GAAP Reconciliation: Sales & Marketing Expense
GAAP to Non-GAAP Reconciliation Sales & Marketing Expense $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 Sales & Marketing Expense $309,992 $356,393 $86,978 $95,340 Stock-based Compensation Expense $48,001 $68,766 $16,523 $17,012 Restructuring Charges $0 $3,811 $54 $130 Non-GAAP Sales
Slide 30: GAAP to Non-GAAP Reconciliation: Research & Development Expense
GAAP to Non-GAAP Reconciliation Research & Development Expense $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 Research & Development Expense $156,143 $200,840 $49,058 $61,354 Stock-based Compensation Expense $36,325 $50,804 $12,738 $14,384 Restructuring Charges $0 $2,119 $72 $0 Non-GAA
Slide 31: GAAP to Non-GAAP Reconciliation: General & Administrative Expense
GAAP to Non-GAAP Reconciliation General & Administrative Expense $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 General & Administrative Expense $117,932 $150,405 $38,815 $45,960 Stock-based Compensation Expense $33,163 $37,079 $10,425 $14,653 Amortization of Acquired Intangibles $295 $
Slide 32: GAAP to Non-GAAP Reconciliation: Operating Loss
GAAP to Non-GAAP Reconciliation Operating Loss $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 GAAP Operating Loss $211,411 $187,440 $40,267 $28,732 Stock-based Compensation Expense $122,567 $163,049 $41,334 $48,042 Amortization of Intangible Assets $2,362 $2,167 $521 $2,511 Restructuring C
Slide 33: GAAP to Non-GAAP Reconciliation: Net Income / Loss
GAAP to Non-GAAP Reconciliation Net Income / Loss Attributable to GitLab $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 Net Income / Loss Attributable to GitLab $172,311 $424,174 $285,158 $29,565 Stock-based Compensation Expense $122,567 $163,049 $41,334 $48,042 Amortization of Acquired
Slide 34: Operating Cash Flow to Adjusted Free Cash Flow
GAAP to Non-GAAP Reconciliation Operating Cash Flow to Adjusted Free Cash Flow $ in thousands) FY 2023 FY 2024 Q3 FY24 Q3 FY25 Net Cash Provided by / Used in) Operating Activities $77,408 $35,040 $5,961 $177,028) Purchases of Property and Equipment $6,070 $1,598 $736 $1,057 Income tax
Slide 35: Definitions
Definitions Customer: A single organization with separate subsidiaries, segments, or divisions that use The one DevOps Platform is considered a single customer for determining each organizationʼs ARR. Reseller or distributor channel partners are not counted as customers. In cases where customers sub