Slide 1: Investor Presentation Second Quarter Fiscal Year 2025
Investor Presentation Second 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: GitLab at a glance
GitLab at a glance $730M 31% 10% 6% Q2 FY25 Non-GAAP Adj. Run-Rate Revenue1 YoY Run-Rate Revenue Growth1 Q2 FY25 Non-GAAP Operating Margin1 Free Cash Flow Margin1 126% Dollar-Based Net Retention Rate 1 9,314 Base Customers 1 1,076 $100K ARR Customers1 1 Platform Note: Figures as of the three months
Slide 4: Every organization must be great at developing, securing, & deploying software
Every organization must be great at developing, securing, & deploying software. © 2024 GitLab Inc.
Slide 5: The Solution: A comprehensive DevSecOps platform
The Solution A comprehensive DevSecOps platform © 2024 GitLab Inc.
Slide 6: The only AI solution that supports developers at every stage of their workflow
The only AI solution that 55% boost in deployment supports developers at every velocity stage of their workflow Most comprehensive AI-powered DevSecOps platform available 90% reduction in time spent on toolchain operations AI across the SDLC benefits everyone from developers to security specialists
Slide 7: GitLab recognized as a Leader in 2024 Gartner Magic Quadrant
GitLab recognized as a Leader 2024 Gartner® Magic Quadrant™ for According to Gartner, Leaders demonstrate a deep understanding of market needs and continuously innovate by integrating advanced AI models and expanding their feature sets to stay ahead of industry trends. Source: Gartner, Magic Quadran
Slide 8: Significant ROI and short payback period
Significant ROI and short payback period 482% Fewer software vendors License cost reduction Better user experience Higher productivity < 6 months Payback period of less than 6 months Fewer tools Lower integration costs Much faster cycle time Revenue acceleration Source: GitLab-commissioned Forrester
Slide 9: GitLab Ultimate
GitLab Ultimate Market leading enterprise-grade DevSecOps platform 47% Shifts security left, seamlessly instrumenting security checks and guardrails Enhances the developer experience, eliminating context switching and of total ARR is from GitLab post-deployment firefighting Ultimate as of Q2 FY25 En
Slide 10: GitLab Dedicated
GitLab Dedicated Single-tenant SaaS offering Financial Services Public Sector Unique in the market Healthcare Especially valuable for highly regulated industries and the public sector Energy Recently achieved “In Processˮ designation for FedRAMP Moderate © 2024 GitLab Inc.
Slide 11: Financial highlights
Financial highlights © 2024 GitLab Inc.
Slide 12: Intuitive Machines customer story
We built a spacecraft from scratch in five years. If we hadnʼt adopted GitLab, we could not have done that. The lander would not have flown — 10x increase in release cadence not in the timeframe we were working on and with the number of people we had on the team. 99% reduction in downtime 20x James
Slide 13: Strong momentum at scale
Strong momentum at scale Run-Rate Revenue1 (millions) 34% 2Year CAGR 1 © 2024 GitLab Inc. Definition can be found in the Appendix.
Slide 14: 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 15: bol customer story
GitLab is helping us stay flexible and competitive as we grow, and as the requirements that our software and our developers need to comply with grow. 1000s of developer hours saved by: That's the biggest challenge that we had and we tackled it with GitLab. Automating compliance Guus Houtzager Engine
Slide 16: 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 17: 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 18: Financial outlook
Financial outlook Third Quarter and Fiscal Year 2025 $ in millions, except per share data) Q3 FY 2025 Guidance FY 2025 Guidance Revenue $187.0 $188.0 $742.0 $744.0 Non-GAAP Operating Income / Loss $19.0 $20.0 $55.0 $58.0 Non-GAAP Net Income per Share $0.15 $0.16 $0.45 $0.47 © 2024 Git
Slide 19: Questions?
Questions? © 2024 GitLab Inc.
Slide 20: Appendix
Appendix © 2024 GitLab Inc.
Slide 21: GAAP to Non-GAAP Reconciliation: Gross Profit
GAAP to Non-GAAP Reconciliation Gross Profit $ in thousands) FY 2023 FY 2024 Q2 FY24 Q2 FY25 GAAP Gross Profit $372,656 $520,198 $124,885 $161,214 Stock-based Compensation Expense $5,078 $6,400 $1,698 $2,076 Amortization of Intangible Assets $2,067 $2,067 $521 $2,333 Restructuring Charges $0 $463 $
Slide 22: GAAP to Non-GAAP Reconciliation: Sales & Marketing Expense
GAAP to Non-GAAP Reconciliation Sales & Marketing Expense $ in thousands) FY 2023 FY 2024 Q2 FY24 Q2 FY25 Sales & Marketing Expense $309,992 $356,393 $92,116 $97,778 Stock-based Compensation Expense $48,001 $68,766 $21,295 $19,881 Restructuring Charges $0 $3,811 $118 $266 Non-GAAP Sal
Slide 23: GAAP to Non-GAAP Reconciliation: Research & Development Expense
GAAP to Non-GAAP Reconciliation Research & Development Expense $ in thousands) FY 2023 FY 2024 Q2 FY24 Q2 FY25 Research & Development Expense $156,143 $200,840 $49,007 $61,273 Stock-based Compensation Expense $36,325 $50,804 $12,477 $16,114 Restructuring Charges $0 $2,119 $12 $393 Non-G
Slide 24: GAAP to Non-GAAP Reconciliation: General & Administrative Expense
GAAP to Non-GAAP Reconciliation General & Administrative Expense $ in thousands) FY 2023 FY 2024 Q2 FY24 Q2 FY25 General & Administrative Expense $117,932 $150,405 $37,819 $43,168 Stock-based Compensation Expense $33,163 $37,079 $10,898 $10,898 Amortization of Acquired Intangibles $295 $
Slide 25: GAAP to Non-GAAP Reconciliation: Operating Loss
GAAP to Non-GAAP Reconciliation Operating Loss $ in thousands) FY 2023 FY 2024 Q2 FY24 Q2 FY25 GAAP Operating Loss $211,411 $187,440 $54,057 $41,005 Stock-based Compensation Expense $122,567 $163,049 $46,368 $48,969 Amortization of Intangible Assets $2,362 $2,167 $546 $2,333 Restructuring C
Slide 26: 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 Q2 FY24 Q2 FY25 Net Loss Attributable to GitLab $172,311 $424,174 $50,080 $12,949 Stock-based Compensation Expense $122,567 $163,049 $46,368 $48,969 Amortization of Acquired Intangibles
Slide 27: 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 Q2 FY24 Q2 FY25 Net Cash Provided by / Used in) Operating Activities $77,408 $35,040 $27,109 $11,697 Purchases of Property and Equipment $6,070 $1,598 $277 $851 Adjusted Free Ca
Slide 28: 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