GitLab Inc. · NASDAQ:GTLB

GitLab — Q2 FY2026 Earnings Presentation

51 slides from GitLab's earnings presentation, September 2025

1. Slide 1: Investor Presentation Second Quarter Fiscal Year 2026

   Investor Presentation Second Quarter Fiscal Year 2026

2. 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,

3. Slide 3: Second quarter fiscal year 2026 results

   Second quarter fiscal year 2026 results $236M 29% 17% 20% Q2 FY26 Non-GAAP Adj. Revenue1 Revenue Growth1 Q2 FY26 Non-GAAP Operating Margin1 Free Cash Flow Margin1 121% 1 Dollar-Based Net Retention Rate 10,338 1,344 1 Base Customers 1 $100K ARR Customers 1 Platform © GitLab Inc. Note: Figures as of

4. Slide 4: FY26 Plan update

   New customer acquisition FY26 Plan update Unlock value faster Accelerate innovation © GitLab Inc.

5. Slide 5: New customer acquisition

   Why To be a multi-billion growth business, we need new customers who can expand with us. Objective 1 Whatʼs changing New customer Sales-led growth Global new business team focusing on acquisition sales-led first order lands, a post-sales motion to support rapid module adoption, and value realization

6. Slide 6: GitLab Startup Program growth

   72% quarter-over-quarter growth in the number of new startups joining the GitLab Startup Program 56% of startups that joined in Q2 FY26 are AI companies © GitLab Inc. Note: Figures as of the three months ended July 31, 2025 Q2 FY26

7. Slide 7: © GitLab Inc.

   © GitLab Inc.

8. Slide 8: Manav Khurana, Chief Product and Marketing Officer

   Manav Khurana Chief Product and Marketing Officer © GitLab Inc.

9. Slide 9: Accelerate customer value

   Why To be a multi-billion growth business, we need to demonstrate sales excellence and help customers realize more value, faster. Objective 2 Whatʼs changing Accelerate Sales-led growth ● More sophistication around pipeline customer value generation and price control ● Improved training and enableme

10. Slide 10: © GitLab Inc.

    © GitLab Inc.

11. Slide 11: GitLab Ultimate

    53% of total ARR1 from GitLab GitLab Ultimate Ultimate as of Q2 FY26 Market leading, AI-native enterprise-grade 8 10 DevSecOps solution out of largest deals purchased GitLab Ultimate in Q2 FY26 1 © GitLab Inc. Definitions can be found in the Appendix.

12. Slide 12: GitLab Dedicated

    $50M of total ARR1 from GitLab Dedicated as of Q2 FY26 GitLab Dedicated 92% growth year-over-year Note: Figures as of the three months ended July 31, 2025 Q2 FY26 © GitLab Inc. 1 Definitions can be found in the Appendix.

13. Slide 13: Top 10 U.S. bank

    Top 10 U.S. bank GitLab Ultimate + Dedicated Deploying 1,000 Giving power back to seats of GitLab developers to innovate Duo Enterprise at the speed they need © GitLab Inc.

14. Slide 14: GOV Singapore

    GOV SINGAPORE

15. Slide 15: Accelerate customer-focused innovation

    Why To be a multi-billion growth business, Objective 3 we need to create hundreds of millions of dollars in new, monetizable value every year. Accelerate Whatʼs changing customer-focused ● Shifted from breadth-first to depth-first innovation focused innovation ● Investing in growth levers in core De

16. Slide 16: Recent customer-focused innovation: Core DevOps Workflows

    Core DevOps Workflows Recent ● Maven virtual registry customer-focused ● GitLab Runner 18.1 ● Immutable container tags innovation ● New merge request homepage ● Custom workflow statuses © GitLab Inc.

17. Slide 17: Recent customer-focused innovation: Security & Compliance

    Security & Compliance ● SLSA Level 1 compliance Recent ● PHP support for Advanced SAST customer-focused ● Increased SAST coverage for GitLab Duo Vulnerability Resolution innovation ● Group overview compliance dashboard ● Centralized Security Policy Management (beta) ● Compromised password protection

18. Slide 18: One of the largest wireless operators in the U.S.

    One of the largest wireless operators in the U.S. GitLab Ultimate Utilizing security Expanded GitLab Ultimate policies to shift left deployment by 4,000 users © GitLab Inc.

19. Slide 19: Customer quote on GitLab Duo Agent Platform

    Iʼve been impressed watching GitLabʼs agentic AI capabilities evolve with the new GitLab Duo Agent Platform. The autonomous task delegation and run tools functionality are genuinely useful additions to our workflow. Senior software architect Leading communications industry supplier © GitLab Inc.

20. Slide 20: The future of AI-native software development

    The future of AI-native software development © GitLab Inc.

21. Slide 21: © GitLab Inc.

    @ GitLab=3 HEN with Amazon Q = ampere Cop )

22. Slide 22: Seat expansion fuels our growth

    Seat growth accounts for more than 70% of revenue growth Seat expansion Double-digit paid seat growth rates have fuels our growth accelerated over the last 4 quarters Every customer cohort since inception continues to expand © GitLab Inc. Note: Figures as of the three months ended July 31, 2025 Q2

23. Slide 23: We expect AI to reinforce the value of GitLab

    Customer survey results 91% We expect AI to reinforce believe AI-native dev tools will increase their GitLab usage the value of GitLab 88% expect developer headcount to increase or stay the same © GitLab Inc. Source: GitLab Customer Survey August 2025

24. Slide 24: GitLab AI-native transformation

    GitLab AI-native transformation Agentic orchestration across the software lifecycle Current platform Al capabilities Modern UX  Agents & flows Same foundation User experience & community Human <> Agent Collaboration Built on the proven GitLab Integrated SDLC w/50M+ registered users! Agent catalog &

25. Slide 25: GitLab Duo Agent Platform is more than code generation

    We provide evidence that recent AI systems slow down experienced open-source developers with moderate AI experience GitLab Duo Agent completing real issues on large, popular repositories they are highly familiar with.1 Platform is more than code generation The biggest single frustration, cited by 66

26. Slide 26: AI-native DevSecOps orchestration platform welcomes AI code generation tools

    As an AI-native DevSecOps orchestration platform, we welcome engineers and AI code generation tools with open arms. © GitLab Inc.

27. Slide 27: GitLab Intelligent DevSecOps Platform

    GitLab Intelligent DevSecOps Platform Agent Agent Agent Agent Agent Agent Unified Data Model © GitLab Inc.

28. Slide 28: DevSecOps orchestration platform for humans and AI agents

    Built on top of GitLabʼs secure platform Ecosystem of AI agents through the entire SDLC The DevSecOps orchestration platform Fully customizable for humans and AI agents to accelerate to your organization software engineering. Orchestrates seamlessly with AI developer tools © GitLab Inc.

29. Slide 29: GitLab stands for independence

    GitLab stands for independence: cloud, AI model, and AI code generation tool agnostic © GitLab Inc.

30. Slide 30: Financial highlights

    Financial highlights © GitLab Inc.

31. Slide 31: Second quarter fiscal year 2026 results

    Second quarter fiscal year 2026 results $236M Revenue 1 29% YoY Revenue Growth 1 17% Q2 FY26 Non-GAAP Operating Margin1 682bps 1 Q2 FY26 Non-GAAP Operating Margin $46M Adjusted Free Cash Flow1 20% Q2 FY26 Non-GAAP Adj. Free Cash Expansion Flow Margin1 Note: Figures as of the three months ended July

32. Slide 32: Strong momentum at scale

    30% 2Year CAGR Strong momentum at scale Run-Rate Revenue1 (millions) 1 © GitLab Inc. Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix.

33. Slide 33: Growing customer base

    Growing customer base Base Customers1 Customers Generating > $100k ARR1 1 © GitLab Inc. Definitions can be found in the Appendix.

34. Slide 34: Dollar-based net retention rate in tight band across cohorts

    Dollar-based net retention rate1 in tight band across all customer cohorts since company inception 1 © GitLab Inc. Definitions can be found in the Appendix.

35. Slide 35: All customer cohorts still growing

    All customer cohorts still growing © GitLab Inc.

36. Slide 36: The power of our land & expand model: 2016 customer cohort

    The power of our land & expand model: 2016 customer cohort double click 2016 Customer Cohort - ARR1 Growth 103.6X ARR1 Growth 1 © GitLab Inc. Definitions can be found in the Appendix.

37. Slide 37: Focus on disciplined resource allocation

    Focus on disciplined resource allocation Non-GAAP Gross Margin 1 Non-GAAP Operating Expenses 1,2 % of Revenue) 1 © GitLab Inc. Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix. 2 Q1FY25 G&A expenses include $15 million expense related to our i

38. Slide 38: Investment in growth while expanding margins

    Investment in growth while expanding margins Non-GAAP Operating Income / Loss1,2 % of Revenue) Significant year-over-year operating margin expansion 1 © GitLab Inc. Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix. 2 Q1FY25 G&A expenses inclu

39. Slide 39: Meaningful growth in adjusted free cash flow

    1 Non-GAAP Non-GAAP Adjusted Adjusted Free Free Cash Cash Flow Flow1 % % of of Revenue) Revenue) Meaningful growth in adjusted free cash flow 1 © GitLab Inc. Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix.

40. Slide 40: Financial outlook

    Financial outlook Second Quarter and Fiscal Year 2026 $ in millions, except per share data) Q3 FY 2026 Guidance FY 2026 Guidance Revenue $238.0  $239.0 $936  $942 Non-GAAP Operating Income $31.0  $32.0 $133  $136 Non-GAAP Net Income per Share $0.19  $0.20 $0.82  $0.83 © GitLab Inc. Note: Non-

41. Slide 41: The most comprehensive DevSecOps platform

    The most comprehensive, DevSecOps platform © GitLab Inc.

42. Slide 42: Questions?

    Questions? © GitLab Inc.

43. Slide 43: Appendix

    Appendix © GitLab Inc.

44. Slide 44: GAAP to Non-GAAP reconciliation: Gross Profit

    GAAP to Non-GAAP reconciliation Gross Profit $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 GAAP Gross Profit $520,198 $674,109 $161,214 $207,455 Stock-based Compensation Expense $6,400 $7,922 $2,076 $2,261 Amortization of Intangible Assets $2,067 $8,126 $2,333 $2,015 Restructuring Charges $463 $0

45. Slide 45: GAAP to Non-GAAP reconciliation: Sales & Marketing

    GAAP to Non-GAAP reconciliation Sales & Marketing Expense $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 Sales & Marketing Expense $356,393 $384,295 $97,778 $109,583 Stock-based Compensation Expense $68,766 $72,954 $19,881 $19,950 Restructuring Charges $3,811 $1,126 $266 $0 Non-GAAP

46. Slide 46: GAAP to Non-GAAP reconciliation: Research & Development

    GAAP to Non-GAAP reconciliation Research & Development Expense $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 Research & Development Expense $200,840 $239,652 $61,273 $71,488 Stock-based Compensation Expense $50,804 $58,312 $16,114 $19,197 Restructuring Charges $2,119 $393 $393 $0 No

47. Slide 47: GAAP to Non-GAAP reconciliation: General & Administrative

    GAAP to Non-GAAP reconciliation General & Administrative Expense $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 General & Administrative Expense $150,405 $192,877 $43,168 $44,735 Stock-based Compensation Expense $37,079 $46,711 $10,898 $12,876 Amortization of Acquired Intangibles $100 $0

48. Slide 48: GAAP to Non-GAAP reconciliation: Operating Income

    GAAP to Non-GAAP reconciliation Operating Income Loss $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 GAAP Operating Loss $187,440 $142,715 $41,005 $18,351 Stock-based Compensation Expense $163,049 $185,899 $48,969 $54,284 Amortization of Intangible Assets $2,167 $8,126 $2,333 $2,015 Rest

49. Slide 49: GAAP to Non-GAAP reconciliation: Net Income

    GAAP to Non-GAAP reconciliation Net Income Loss Attributable to GitLab $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 Net Income Loss Attributable to GitLab $425,677 $6,326 $12,912 $9,208 Stock-based Compensation Expense $163,049 $185,899 $48,969 $54,284 Amortization of Acquired Intangib

50. Slide 50: Operating Cash Flow to Adjusted Free Cash Flow

    GAAP to Non-GAAP reconciliation Operating Cash Flow to Adjusted Free Cash Flow $ in thousands) FY 2024 FY 2025 Q2 FY25 Q2 FY26 Net Cash Provided by Used in) Operating Activities $35,040 $63,971 $11,697 $49,369 Purchases of Property and Equipment $1,598 $3,765 $851 $2,904 Income tax payme

51. Slide 51: 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

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