GitLab Inc. (GTLB) financials
NASDAQ · Technology · Software - Application · 2,580 employees · CEO William Staples
- Price
- $54.09 -4.52%
- Market cap
- $9.01B
- Enterprise value
- $8.79B
- Last report
- Q2 '27 filed 2026-09-02
- Next report
- 2026-12-01 EPS est. $0.20
Revenue (TTM)$1.06B+23.0% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-8.5%+3.2 pp vs a year agoOperating income -$90.2M
Net income (TTM)-$52.7M-417.8% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$214M+496.3% vs a year agoCapex $9.62M
Diluted EPS (TTM)-$0.32-882.6% vs a year agoSum of the last 4 quarters
Net cash$1.26B+7.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $9.01B EV $8.79B
- Revenue
- $1.06B Trailing 12 months
- Revenue growth
- +18% FY2027 consensus
- Profit margin
- -5.0% Net income / revenue, TTM
- P/E
- -171.5× Forward 62.4× (FY2027)
- P/S
- 8.5× Price / sales, TTM
- EV / EBITDA
- -238.7× TTM
- Free cash flow
- $214M Trailing 12 months
- Net income
- -$52.7M Trailing 12 months
- Revenue estimate
- $1.13B FY2027 consensus
- Earnings
- 2026-12-01 Revenue est. $282M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-09-01): revenue beat by 4.8%, EPS beat by 33.5%Revenue $286M vs $273M expected (+4.8%); EPS $0.24 vs $0.18 (+33.5%).
- Revenue growth slowing: 21.3% year on yearQ2 '27 revenue $286M, against an average of 25.0% over the four quarters before.
- Operating margin -8.5% (TTM), +3.2 pp on a year agoOperating income grew 10.7% while revenue grew 23.0%.
- Capex 0.9% of revenue (a year ago 0.7%)$9.62M invested in the last 4 quarters (+59.5% on a year earlier). Free cash flow $214M.
- Returned $155M to shareholders = 72.4% of free cash flowBuybacks $155M (a year earlier $0), dividends $0, stock-based pay $230M (TTM).
- Diluted share count up 1.7% in a year169M diluted shares in Q2 '27, 166M a year earlier.
- Net cash $1.26BCash + short-term investments $1.26B, debt incl. leases $0; a year ago net cash $1.17B.
Last quarter: Q2 '27
Quarter ended 2026-07-31. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '27 | Year ago | Change | |
|---|---|---|---|
| Revenue | $286M | $236M | +21.3% |
| Gross margin | 84.1% | 87.9% | -3.9 pp |
| Operating income | -$56.9M | -$18.4M | -210.3% |
| Operating margin | -19.9% | -7.8% | -12.1 pp |
| Net income | -$36.8M | -$9.21M | -300.1% |
| Diluted EPS | -$0.22 | -$0.06 | -296.4% |
| Operating cash flow | -$3.09M | $49.4M | -106.3% |
| Capex | $213K | $2.9M | -92.7% |
| Free cash flow | -$3.31M | $46.5M | -107.1% |
| R&D | $95M | $71.5M | +32.9% |
| Stock-based compensation | $75M | $54.3M | +38.2% |
Reported vs consensus
2026-09-01| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $286M | $273M | +4.8% |
| EPS (as estimated) | $0.24 | $0.18 | +33.5% |
From the report of 2026-09-01 for Q2 '27: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Subscription and Software | $258M | +21.5% | 45.1% | $1.15B | – | |
| Subscription and Circulation | $161M | +14.3% | 28.1% | $609M | +18.4% | |
| Subscription, Software As A Service | $97.6M | +35.5% | 17.0% | $346M | +36.5% | |
| License, Professional Services, and Other | $27.9M | +20.1% | 4.9% | $120M | – | |
| License | $20.7M | +13.9% | 3.6% | $74.6M | +5.2% | |
| Professional Services and Other | $7.28M | +41.8% | 1.3% | $25.5M | +33.5% |
Revenue by region
share of total| Segment | Q2 '27 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $239M | +22.9% | 83.5% | $873M | +24.1% | |
| Europe | $39.8M | +10.2% | 13.9% | $156M | +15.4% | |
| Asia Pacific | $7.24M | +38.9% | 2.5% | $26.3M | +35.9% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $223M
- Capex
- -$9.62M
- Buybacks
- -$155M
- Dividends
- $0
- Acquisitions
- $0
- Net debt issued
- $0
- Stock-based compensation
- $230M
- Free cash flow
- $214M
- Returned to shareholders / FCF
- 72.4%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -171.5× | – | – |
| EV / EBITDA | -238.7× | – | – |
| EV / Sales | 8.3× | 17.8× | 5.8× – 33.2× |
| Price / FCF | 42.2× | 177.1× 2 of 5 years | 26.1× – 328.1× |
| Price / Book | 9.9× | 12.4× | 5.9× – 19.6× |
| FCF yield | 2.4% | 0.4% | -1.1% – 3.8% |
| Return on invested capital | -9.0% | -15.4% | -29.1% – -1.8% |
| Return on equity | -5.5% | -25.0% | -76.0% – -0.8% |
Analysts
Consensus target $50.71 (-6.2%)
range $26.00 – $70.00 · rating Hold
Strong buy0
Buy11
Hold18
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $1.13B | +18.4% | $0.87 | +347.5% | 62.4× | 15 |
| FY2028 | $1.31B | +15.5% | $1.04 | +19.9% | 52.1× | 14 |
| FY2029 | $1.51B | +15.4% | $1.26 | +21.1% | 43.0× | 4 |
| FY2030 | $1.72B | +14.0% | $1.45 | +15.2% | 37.3× | 1 |
| FY2031 | $1.95B | +13.7% | $1.72 | +18.6% | 31.4× | 2 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 255 figures GitLab Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $888K | $0 | – | – | – | – | |
| Accounts Payable, Current | $9.96M | $11.4M | -12.6% | $9.21M | $7.52M | +22.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $257M | $198M | +30.1% | $304M | $265M | +15.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.02M | $1.18M | -13.4% | $967K | $991K | -2.4% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $364K | $2.6M | -86.0% | $8.21M | $16.7M | -51.0% |
| Accretion Expense | $02026-01-31 | $0 | – | $0 | $100K | -100.0% |
| Accrual for Taxes Other than Income Taxes, Current | $19.1M2026-01-31 | $18.8M | +1.5% | $19.1M | $18.8M | +1.5% |
| Accrued Employee Benefits, Current | $2.95M2026-01-31 | $2.96M | -0.1% | $2.95M | $2.96M | -0.1% |
| Accrued Income Taxes, Current | $16.4M2026-01-31 | $13.1M | +25.3% | $16.4M | $13.1M | +25.3% |
| Accrued Payroll Taxes | $8.35M2026-01-31 | $8.13M | +2.7% | $8.35M | $8.13M | +2.7% |
| Accrued Sales Commission, Current | $14.6M2026-01-31 | $16.5M | -12.0% | $14.6M | $16.5M | -12.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $4.92M2026-01-31 | $3.08M | +59.9% | $4.92M | $3.08M | +59.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $460K | -$1.51M | +130.4% | $6.88M | -$8.51M | +180.8% |
| Additional Paid in Capital | $2.19B | $2.08B | +5.3% | $2.21B | $1.95B | +13.1% |
| Advertising Expense | – | – | – | $34.8M | $34.5M | +0.9% |
| Amortization of Intangible Assets | $2M | $2M | 0.0% | $8.07M | $8.13M | -0.8% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3.66M | -1.25M | +392.0% | 13M | 14.7M | -11.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $75M | $54.3M | +38.2% | $216M | $186M | +15.9% |
| Assets | $1.66B | $1.5B | +10.9% | $1.72B | $1.4B | +23.1% |
| Assets, Current | $1.6B | $1.44B | +11.1% | $1.66B | $1.34B | +23.9% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $02026-01-31 | $0 | – | $0 | $3.75M | -100.0% |
| Business Combination, Contingent Consideration, Liability, Current | $914K2026-01-31 | $0 | – | $914K | $0 | – |
| Capital Expenditures Incurred but Not yet Paid | $0 | $842K | -100.0% | $247K2025-01-31 | $0 | – |
| Capitalized Contract Cost, Amortization | $10.6M | $13.4M | -20.9% | $54.9M | $49.7M | +10.4% |
| Capitalized Contract Cost, Net, Current | $39.6M | $35.3M | +12.1% | $42.7M | $39M | +9.5% |
| Capitalized Contract Cost, Net, Noncurrent | $27.4M | $19M | +44.7% | $23.7M | $20.1M | +17.7% |
| Cash and Cash Equivalents, at Carrying Value | $226M | $261M | -13.3% | $230M | $228M | +0.8% |
| Cash Equivalents, at Carrying Value | $154M | – | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $226M | $261M | -13.3% | $230M | $228M | +0.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$109M | $5.65M | -2,026.8% | $1.93M | -$60.3M | +103.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $946K | -$196K | +582.7% | -$1.98M | -$3.45M | +42.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$40.9M | -$9.26M | -341.5% | -$40.6M | -$17.2M | -135.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$39.9M | -$9.46M | -322.3% | -$42.5M | -$20.7M | -105.7% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $2M | – | – | – | – | – |
| Contract with Customer, Liability, Current | $533M2026-04-30 | $451M | +18.3% | $545M | $443M | +23.2% |
| Contract with Customer, Liability, Noncurrent | $20.8M | $25.7M | -19.1% | $27M | $26.4M | +2.4% |
| Contract with Customer, Liability, Revenue Recognized | $213M2026-04-30 | $162M | +31.8% | $396M | $332M | +19.3% |
| Cost of Revenue | $45.6M | $28.5M | +60.1% | $121M | $85.1M | +41.8% |
| Current Federal, State and Local, Tax Expense (Benefit) | – | – | – | $773K | $2.03M | -61.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $9.33M | -$68M | +113.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $10.1M | -$66M | +115.3% |
| Customer Refund Liability, Current | $743K2026-01-31 | $6.27M | -88.1% | $743K | $6.27M | -88.1% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $361M | $329M | +9.7% | $419M | $174M | +140.6% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $672M | $575M | +16.7% | $610M | $590M | +3.4% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $0 | $0 | – | $0 | $5.99M | -100.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $0 | $0 | – | $0 | $2K | -100.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $850M | $740M | +14.9% | $171M | $235M | -27.2% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $2.43M | $821K | +196.1% | $84K | $362K | -76.8% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $360M | $329M | +9.4% | $419M | $174M | +141.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $671M | $575M | +16.7% | $611M | $591M | +3.4% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | $1.03B | $904M | +14.2% | $1.03B | $764M | +34.6% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $1.03B | $904M | +14.0% | $1.03B | $765M | +34.7% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $850M | $740M | +14.9% | $171M | $241M | -29.0% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $2.43M | $821K | +196.1% | $84K | $364K | -76.9% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent | $1.03B | $904M | +14.0% | $1.03B | $765M | +34.7% |
| Deferred Federal, State and Local, Tax Expense (Benefit) | – | – | – | $0 | -$3K | +100.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $401K | -$10.7M | +103.8% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $401K | -$10.7M | +103.8% |
| Deferred Tax Assets, Deferred Income | $13.6M2026-01-31 | $12.4M | +9.6% | $13.6M | $12.4M | +9.6% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $83.1M2026-01-31 | $98.7M | -15.8% | $83.1M | $98.7M | -15.8% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-07-31, 10-Q 2026-04-30, 10-K 2026-01-31, 10-Q 2025-10-31, 10-Q 2025-07-31, 10-Q 2025-04-30, 10-K 2025-01-31, 10-Q 2024-10-31, 10-Q 2024-07-31
Data as of 2026-11-02