Slide 1: Investor Presentation First Quarter Fiscal Year 2025
Investor Presentation First Quarter Fiscal Year 2025
Slide 2: Forward-looking statements
This presentation contains “forward-looking statements” 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 $677M 33% >900bps 22% Q1 FY25 YoY Non-GAAP Operating Q1 FY25 Non-GAAP Adj. Run-Rate Revenue1 YoY Run-Rate Revenue Growth1 Margin1 Improvement Free Cash Flow Margin1 129% Dollar-Based Net Retention Rate 1 8,976 Base Customers 1 1,025 >$100K Customers 1 Platform Note: Figures as of
Slide 4: The solution: A comprehensive DevSecOps platform
Security & Compliance Software Delivery Value Stream Continuous Delivery The solution Plan & Create Integrate & Verify A comprehensive DevSecOps platform Monitor & Improve Deploy & Operate Single Data Store Continuous Improvement AI-Powered © 2024 GitLab Inc.
Slide 5: GitLab Duo: End-to-end AI
GitLab Duo: End-to-end AI New and upcoming capabilities in GitLab Duo include: ● GitLab Duo Chat, a conversational AI interface for GitLab Duo that helps customers seamlessly integrate Broadest DevSecOps AI throughout the software development lifecycle platform uniquely allows ● Privacy controls to
Slide 6: Security & Compliance
Security & Compliance Benefits include: The only DevSecOps ● Integrated security, enabling customers to shift security platform that includes the earlier in the development process and is driving upgrades full breadth of security to GitLab Ultimate scanning ● Integrated security scanning, enhanced t
Slide 7: Go-to-Market Strategy
Go-to-Market Strategy Enabling growth at scale by: ● Expanding relationships with cloud hyperscaler partners Scaling past Google Cloud and AWS $500 million ● Investing in post-sales success with solution architects and services offerings to $1 billion ● Increasing our geographic theater presence in
Slide 8: Register to watch on June 27th
Register to watch on June 27th about.gitlab.com/seventeen © 2024 GitLab Inc.
Slide 9: Financial Highlights
Financial Highlights GitLab Copyright 2024
Slide 10: Financial Highlights Q1 FY2025
$169M 33% Revenue YoY Revenue Growth Financial Highlights 129% $37M Dollar-Based Net Adjusted Free Cash Q1 FY’2025 Retention1 Flow2 8,976 1,025 Base Customers1 > $100K Customers 1 Definition can be found in the Appendix. 2 See Appendix for reconciliation with most directly comparable GAAP figure.
Slide 11: Strong Momentum at Scale
Strong Momentum at Scale 39% 1 Run-Rate Revenue (millions) 2-Year CAGR 1 Definition can be found in the Appendix.
Slide 12: Growing Customer Base
Growing Customer Base Base Customers 1 Customers Generating > $100k ARR 1 Definition can be found in the Appendix.
Slide 13: Continued Investment in Growth with Significant Operating Leverage
Continued Investment in Growth with Significant Operating Leverage Non-GAAP Gross Margin 1 Non-GAAP Operating Expenses 1,2 (% of Revenue) 1 Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure. 2 Q1-FY25 G&A expenses include ~$15 million expense related to our i
Slide 14: Driving Operating Efficiency While Maintaining Growth
Driving Operating Efficiency While Maintaining Growth Non-GAAP Operating Income / (Loss)1,2 (% of Revenue) Non-GAAP Adjusted Free Cash Flow1 (% of Revenue) Significant year-over-year operating margin expansion Cash efficient business 1 Non-GAAP metrics-see Appendix for reconciliation with most direc
Slide 15: Financial Outlook
Financial Outlook Second Quarter and Fiscal Year 2025 ($ in millions, except per share data) Q2 FY 2025 Guidance FY 2025 Guidance Revenue $176.0 - $177.0 $733.0 - $737.0 Non-GAAP Operating Income / (Loss) $10.0 - $11.0 $34.0 - $38.0 Non-GAAP Net Income per Share $0.09 - $0.10 $0.34 - $0.37 Note: Non
Slide 16: Questions?
Questions? & GitLab
Slide 17: Appendix
Appendix GitLab Copyright 2024
Slide 18: GAAP to Non-GAAP Reconciliation: Gross Profit
GAAP to Non-GAAP Reconciliation Gross Profit ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 GAAP Gross Profit $372,656 $520,198 $112,939 $150,411 Stock-based Compensation Expense $5,078 $6,400 $1,414 $1,855 Amortization of Intangible Assets $2,067 $2,067 $504 $1,087 Restructuring Charges $0 $463 $
Slide 19: GAAP to Non-GAAP Reconciliation: Sales & Marketing
GAAP to Non-GAAP Reconciliation Sales & Marketing Expense ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 Sales & Marketing Expense $309,992 $356,393 $86,537 $92,424 Stock-based Compensation Expense $(48,001) $(68,766) $(13,764) $(17,397) Restructuring Charges $0 $(3,811) $(3,559) $(730) Non-GAAP S
Slide 20: GAAP to Non-GAAP Reconciliation: Research & Development
GAAP to Non-GAAP Reconciliation Research & Development Expense ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 Research & Development Expense $156,143 $200,840 $50,387 $54,140 Stock-based Compensation Expense $(36,325) $(50,804) $(11,702) $(12,336) Restructuring Charges $0 $(2,119) $(2,059) $0 Non-
Slide 21: GAAP to Non-GAAP Reconciliation: General & Administrative
GAAP to Non-GAAP Reconciliation General & Administrative Expense ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 General & Administrative Expense $117,932 $150,405 $34,248 $57,487 Stock-based Compensation Expense $(33,163) $(37,079) $(5,450) $(10,664) Amortization of Acquired Intangibles $(295) $(1
Slide 22: GAAP to Non-GAAP Reconciliation: Operating Loss
GAAP to Non-GAAP Reconciliation Operating Loss ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 GAAP Operating Loss $(211,411) $(187,440) $(58,233) $(53,640) Stock-based Compensation Expense $122,567 $163,049 $32,330 $42,252 Amortization of Intangible Assets $2,362 $2,167 $579 $1,087 Restructuring C
Slide 23: GAAP to Non-GAAP Reconciliation: Net Loss
GAAP to Non-GAAP Reconciliation Net Income / (Loss) Attributable to GitLab ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 Net Loss Attributable to GitLab $(172,311) $(424,174) $(52,469) $(54,644) Stock-based Compensation Expense $122,567 $163,049 $32,330 $42,252 Amortization of Acquired Intangible
Slide 24: Operating Cash Flow to Adjusted Free Cash Flow
GAAP to Non-GAAP Reconciliation Operating Cash Flow to Adjusted Free Cash Flow ($ in thousands) FY 2023 FY 2024 Q1 FY24 Q1 FY25 Net Cash Provided by / (Used in) Operating Activities $(77,408) $35,040 $(10,961) $38,138 Purchases of Property and Equipment $(6,070) $(1,598) $(256) $(700) Adjusted Free
Slide 25: 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 organization’s ARR. Reseller or distributor channel partners are not counted as customers. In cases where customers sub