Gitlab Inc. Stock Price, News & Analysis

GitLab Inc. has partnered with Oracle Corporation to enhance AI and ML capabilities through GPU-enabled GitLab runners on Oracle Cloud Infrastructure (OCI). This collaboration aims to aid developers by expediting model training and inference, making software delivery faster and more cost-effective. GitLab reports a significant rise in AI/ML adoption, with 24% of users adopting these technologies, projected to reach 65% in the next three years. The new offering optimizes AI/ML workloads, improving performance, scalability, and security, while ensuring seamless integration with existing GitLab instances. This strategic move positions GitLab to capitalize on the increasing demand for AI/ML applications and supports customers in building secure, high-performance DevOps environments.

GitLab Inc. (NASDAQ: GTLB) reported a strong fourth quarter for fiscal year 2023, with revenue reaching $122.9 million, a 58% increase year-over-year. The company experienced a 68% revenue growth for the entire fiscal year, totaling $424.3 million. While GAAP net loss per share improved to $(0.26) from $(0.32) year-over-year, the GAAP operating margin stood at (38)%. GitLab saw growth in customers with over $5,000 in annual recurring revenue (ARR) up 52% to 7,002. The company is optimistic about future growth, forecasting Q1 FY 2024 revenue between $117.0 million and $118.0 million.

GitLab Inc. (NASDAQ: GTLB) has announced its plans to release financial results for the fourth quarter and fiscal year 2023 on March 13, 2023, after U.S. markets close. The results will cover the period ending on January 31, 2023.

A Zoom video conference and earnings webcast will follow at 4:30 p.m. EST to discuss the findings. Interested participants can register via the provided links. Archived materials, including a replay and transcript, will be available afterward on GitLab's Investor Relations website.

GitLab strengthens security assurance at the highest international standard

GitLab has enhanced its security certification portfolio, achieving a SOC 2 Type 1 report for GitLab Dedicated and expanding its SOC 2 Type 2 report for GitLab.com to include Availability criteria. The company added GitLab Dedicated to its ISO/IEC 27001:2013 certification scope and expanded certification against ISO/IEC 27017:2015 for cloud security and ISO/IEC 27018:2019 for privacy. This commitment to international compliance aims to enhance customer trust and security for both small businesses and large enterprises. GitLab continues to invest in its security and compliance programs.

GitLab (NASDAQ: GTLB) announced that CFO Brian Robins will present at the Needham Growth Conference on January 12, 2023, at 11:00 AM ET. This fireside chat will be streamed live, and a replay will be accessible on GitLab's investor relations page. GitLab is renowned for its all-in-one DevSecOps platform, enabling organizations to innovate, manage, and deliver software efficiently.

With one interface and cloud-agnostic capabilities, GitLab supports teams in translating business visions into reality, enhancing customer service and retention.

GitLab Appoints Mark Porter to Board

GitLab has announced the appointment of Mark Porter, former CTO of MongoDB, as a new independent director on its Board. With extensive experience in databases from companies like Grab, AWS, and Oracle, Porter will enhance GitLab's product strategy, particularly in DevSecOps, MLOps, and DataOps. His insights are expected to support GitLab's mission to streamline software development. Additionally, GitLab recently introduced four major product solutions, including a single-tenant SaaS and a collaboration with Google Cloud.

GitLab Inc. (NASDAQ: GTLB) reported a strong third quarter for fiscal year 2023, achieving $113.0 million in revenue, a 69% year-over-year increase. Despite a GAAP net loss per share of $(0.33), the company demonstrated improving margins with a non-GAAP loss of $(0.10), a significant improvement from the previous year. Key metrics included a dollar-based net retention rate exceeding 130% and a growth in high-value customers, indicating robust demand for its DevSecOps platform. GitLab also provided positive guidance for the next quarter, expecting revenues between $119.0 - $120.0 million.

GitLab has announced that Brian Robins, Chief Financial Officer, will present at the UBS Global TMT Conference on December 7, 2022, at 10:50 am ET. The presentation will be a fireside chat and can be accessed via a live webcast. This event highlights GitLab’s commitment to transparency and engagement with investors.

GitLab is recognized as the DevSecOps platform for software innovation, offering unified tools for development, security, and operations in a cloud-agnostic environment. Webcast replays will be available on GitLab's investor relations site.

GitLab Inc. has announced the limited availability of GitLab Dedicated, a new single-tenant SaaS solution designed to enhance operational efficiency and security for enterprises. This offering addresses complex compliance needs with a focus on data residency and private networking, catering to regulated industries like government and finance. GitLab Dedicated enables organizations to utilize GitLab’s DevSecOps platform with reduced infrastructure management overhead, promising shorter cycle times, lower costs, and improved security. The solution supports evolving global data protection policies while ensuring compliance.