GitLab Inc. · NASDAQ:GTLB
GitLab — Q1 FY2027 Earnings Presentation
32 slides from GitLab's earnings presentation, Jul 7, 2026
Slide 1: Investor Presentation First Quarter and Fiscal Year 2027
Investor Presentation First Quarter and Fiscal Year 2027 © GitLab Inc.
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: First quarter fiscal year 2027 results
First quarter fiscal year 2027 results $264M Revenue1 23% YoY Revenue Growth1 14% Q1 FY27 Non-GAAP Operating Margin1 203bps $147M 56% Q1 FY27 Non-GAAP Operating Adjusted Free Cash Flow1 Q1 FY27 Non-GAAP Adj. Margin1 Expansion Free Cash Flow Margin1 Note: Figures as of the three months ended April 30
Slide 4: GitLab Ultimate
57% of total ARR1 from GitLab Ultimate as of Q1 FY27 GitLab Ultimate 7 10 Market leading, AI-native enterprise-grade out DevSecOps solution of largest deals purchased GitLab Ultimate in Q1 FY27 1 Definitions can be found in the Appendix © GitLab Inc.
Slide 5: GitLab Duo Agent Platform
GitLab Duo Agent Platform 4 10 out of Largest deals purchased GitLab Duo Agent Platform in Q1 FY27 © GitLab Inc.
Slide 6: Platform activity is surging
Platform activity is surging Push actions CI Pipelines Created 49% y/y 38% y/y 2024 2025 2026 2024 2025 2026 SaaS customers SaaS customers One push action can contain multiple commits © GitLab Inc.
Slide 7: Five growth initiatives
Five growth initiatives • 30% new logo growth YoY 01 Accelerating first orders • Highest absolute first order count in 10 quarters 02 Scaling sales capacity • Gross bookings improvement • New footprint with non-technical teams 03 Expanding monetization • Consumption signals • Headwinds persist for
Slide 8: Top 10 US Bank
Top 10 US Bank Duo Agent Platform Pilot Averaging 1.5 hours saved Active developer base expected to 20x per developer per task from pilot based on customer rollout plan © GitLab Inc.
Slide 9: 3 insights from our Executive Advisory Board
3 insights from our Executive Advisory Board “ “ “ Agents are like GitLab's value is two-fold: We can no longer configure psychopathic interns. They cloud, model, and tool governance project by lack good judgement. A neutrality — and everything project. We need mission human could go to jail for tha
Slide 10: 5 architectural bets
5 architectural bets Machine-scale Orchestration Context infrastructure ● Tying activity to business ● GitLab Orbit ● Git for 100x growth outcomes ● Context brought to life ● New set of APIs ● Expansion across new SKUs ● Compounds over time ● Value scales with work performed Governance One platform
Slide 11: GitLab Flex: A more flexible pricing model
GitLab Flex: A more flexible pricing model Seat-based Credit-based Core platform Agentic workloads Predictability for enterprise commitments Value scales with the work performed © GitLab Inc.
Slide 12: Supporting AI-Scale Workloads
GitLab Dedicated + Duo Agent Platform Supporting AIScale Shipping 40% more code per engineer Workloads for more than 2,000 engineers © GitLab Inc.
Slide 13: AI development with governance
GitLab Ultimate + Duo Agent Platform AI development Multi-year commitment to GitLabʼs unified with governance platform with Ultimate and DAP © GitLab Inc.
Slide 14: Next week: Transcend
Next week: Transcend Where the next chapter starts… ● GitLab Orbit ● GitLab Flex ● Agents pushing git at 100x scale ● First delivery of autonomous engineering © GitLab Inc.
Slide 15: Financial highlights
Financial highlights © GitLab Inc.
Slide 16: First quarter fiscal year 2027 results
First quarter fiscal year 2027 results $264M Revenue1 23% YoY Revenue Growth1 14% Q1 FY27 Non-GAAP Operating Margin1 203bps $147M 56% Q1 FY27 Non-GAAP Operating Adjusted Free Cash Flow1 Q1 FY27 Non-GAAP Adj. Margin1 Expansion Free Cash Flow Margin1 Note: Figures as of the three months ended April 30
Slide 17: Growing customer base
Growing customer base Base Customers1 Customers Generating > $100k ARR1 1 Definitions can be found in the Appendix © GitLab Inc.
Slide 18: Strong momentum at scale
Strong momentum at scale Run-Rate Revenue1 (millions) 1 Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix © GitLab Inc.
Slide 19: Focus on disciplined resource allocation
Focus on disciplined resource allocation Non-GAAP Gross Margin 1 Non-GAAP Operating Expenses 1,2 % of Revenue) 1 Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix 2 Q1FY25 G&A expenses include $15 million expense related to our in-person compan
Slide 20: Balancing growth and margin expansion
Balancing growth and margin expansion Non-GAAP Operating Income / Loss1,2 % of Revenue) 1 Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix 2 Q1FY25 G&A expenses include $15 million expense related to our in-person company-wide event © GitLab
Slide 21: Meaningful growth in adjusted free cash flow
Meaningful growth in adjusted free cash flow Non-GAAP Adjusted Free Cash Flow1 % of Revenue) 1 Definitions and reconciliations with most directly comparable GAAP figure can be found in the Appendix © GitLab Inc.
Slide 22: Financial outlook
Financial outlook Second Quarter and Fiscal Year 2027 $ in millions, except per share data) Q2 FY 2027 Guidance FY 2027 Guidance Revenue $272.0 $274.0 $1,112 $1,118 Non-GAAP Operating Income $30.0 $32.0 $135 $141 Non-GAAP Net Income per Share $0.17 $0.18 $0.79 $0.82 Note: Non-GAAP dilut
Slide 23: Questions?
Questions? © GitLab Inc.
Slide 24: Appendix
Appendix © GitLab Inc.
Slide 25: GAAP to Non-GAAP reconciliation: Gross Profit
GAAP to Non-GAAP reconciliation Gross Profit $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 GAAP Gross Profit $674,109 $834,481 $189,474 $226,670 Stock-based Compensation Expense $7,922 $10,313 $1,929 $2,864 Amortization of Acquired Intangibles $8,126 $8,065 $2,020 $2,015 Restructuring Charges $0
Slide 26: GAAP to Non-GAAP reconciliation: Sales & Marketing
GAAP to Non-GAAP reconciliation Sales & Marketing Expense $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 Sales & Marketing Expense $384,295 $434,725 $107,587 $119,358 Stock-based Compensation Expense $72,954 $78,967 $22,091 $17,445 Restructuring Charges $1,126 $1,493 $0 $0 Non-GAAP Sal
Slide 27: GAAP to Non-GAAP reconciliation: Research & Development
GAAP to Non-GAAP reconciliation Research & Development Expense $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 Research & Development Expense $239,652 $274,574 $65,410 $71,482 Stock-based Compensation Expense $58,312 $63,754 $14,272 $13,630 Restructuring Charges $393 $0 $0 $0 Non-GAAP Res
Slide 28: GAAP to Non-GAAP reconciliation: General & Administrative
GAAP to Non-GAAP reconciliation General & Administrative Expense $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 General & Administrative Expense $192,877 $195,663 $51,087 $51,579 Stock-based Compensation Expense $46,711 $61,917 $17,535 $16,122 Amortization of Acquired Intangibles $0 $0 $0
Slide 29: GAAP to Non-GAAP reconciliation: Operating Income
GAAP to Non-GAAP reconciliation Operating Income Loss $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 GAAP Operating Loss $142,715 $70,481 $34,610 $15,749 Stock-based Compensation Expense $185,899 $214,951 $55,827 $50,061 Amortization of Acquired Intangibles $8,126 $8,065 $2,020 $2,015 Re
Slide 30: GAAP to Non-GAAP reconciliation: Net Income
GAAP to Non-GAAP reconciliation Net Income Loss Attributable to GitLab $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 Net Loss Attributable to GitLab $6,326 $55,956 $35,875 $4,972 Stock-based Compensation Expense $185,899 $214,951 $55,827 $50,061 Amortization of Acquired Intangibles $8,1
Slide 31: GAAP to Non-GAAP reconciliation: Adjusted Free Cash Flow
GAAP to Non-GAAP reconciliation Operating Cash Flow to Adjusted Free Cash Flow $ in thousands) FY 2025 FY 2026 Q1 FY26 Q1 FY27 Net Cash Provided by Used in) Operating Activities $63,971 $232,856 $106,302 $149,197 Additions to property and equipment $3,765 $10,827 $912 $2,393 Income tax p
Slide 32: Definitions
Definitions Customer: A single organization with separate subsidiaries, segments, or divisions that use the GitLab 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 subscri