GitLab Inc. (GTLB) Q1 2027 Earnings Call

Investor webinar replay

Replay transcript excerpt

during the question and answer session. If you'd like to ask your question, please use the raise hand feature located at the menu on the bottom of your Zoom toolbar. In addition, please ensure your Zoom name reflects your full name and the firm that you are with. And if you're joining via phone, you may press star nine to ask a question. Please note this call is being recorded. It is now my pleasure to turn the conference over to Yao-Chu. Before we begin, I'll cover the safe harbor statement. As is customary, the content of today's call and presentation will be governed by this language. In addition, during today's call, we will be discussing certain non-GAAP financial measures. These non-GAAP financial measures exclude certain unusual or non-recurring items that management believes impact the comparability of the periods referenced. Please refer to our earnings release and presentation materials for additional information regarding these non-GAAP financial measures and the reconciliations to the most directly comparable GAAP measure. I will now turn the call over to Bill. Bill? I'm pleased to report Q1 results. Revenue of $264 million, growth of 23%, operating profit of $38 million at a 14% non-GAAP operating margin, and 1,519 customers paying us more than $100,000 a year, up 18% year over year. Dollar-based net retention was 117%. These results help crystallize what has become increasingly clear. The opportunity ahead is massive, and speed matters. We announced GitLab's Act 2 a few weeks ago. Jessica will get into the details of the financial aspect of the restructuring shortly. I'll spend my time highlighting the signal we're getting on the opportunity and the strategic bets we're making to unlock GitLab's advantages against this structural tailwind. Our core ente...