Gitlab Inc. GTLB
GitLab is the intelligent orchestration platform for DevSecOps, where software teams and their Artificial Intelligence ("AI") agents stay in flow to ship software faster. Built with a unified data model, our platform brings together development, operations, Information Technology ("IT"), security, and business teams across the entire software development lifecycle to deliver better, more secure software faster.
AI has accelerated individual coding, but teams lose momentum coordinating across planning, testing, security, deployment, and operations. Fragmented toolchains and tool-specific AI agents create bottlenecks that slow software delivery. GitLab's intelligent orchestration helps solve this by enabling teams to orchestrate AI agents to execute tasks autonomously across the software lifecycle while maintaining quality, security, and speed.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $955.2M | $759.2M | $579.9M | $424.3M | $252.7M | $152.2M | $81.2M | — |
| Cost of revenue | $120.7M | $85.1M | $59.7M | $51.7M | $30.0M | $18.5M | $9.4M | — |
| Gross profit | $834.5M | $674.1M | $520.2M | $372.7M | $222.7M | $133.7M | $71.9M | — |
| R&D | $274.6M | $239.7M | $200.8M | $156.1M | $97.2M | $106.6M | $59.4M | — |
| SG&A | $195.7M | $192.9M | $150.4M | $117.9M | $63.7M | $86.9M | $41.6M | — |
| Total operating expenses | $905.0M | $816.8M | $707.6M | $584.1M | $351.6M | $347.6M | $200.2M | — |
| Operating income | -$70.5M | -$142.7M | -$187.4M | -$211.4M | -$129.0M | -$213.9M | -$128.4M | — |
| Pre-tax income | -$48.1M | -$85.8M | -$160.6M | -$175.3M | -$159.1M | -$189.4M | -$129.5M | — |
| Income tax | $10.5M | $76.7M | $265.1M | $4.0M | $1.5M | $2.8M | $1.2M | — |
| Net income | -$58.6M | -$5.2M | -$424.2M | -$172.3M | -$155.1M | -$192.2M | -$130.7M | — |
| EPS, basic | -0.34 | -0.04 | -2.76 | -1.17 | -1.95 | -3.82 | -2.76 | — |
| EPS, diluted | -0.34 | -0.04 | -2.76 | -1.17 | -1.95 | -3.82 | -2.76 | — |
| Shares, diluted (wtd. avg.) | $166.8M | $160.6M | $154.3M | $148.4M | $79.8M | $50.3M | $47.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $229.6M | $227.6M | $288.0M | $297.9M | $887.2M | $282.9M | $343.3M | $132.5M |
| Short-term investments | — | — | — | — | $50.0M | $0 | — | — |
| Receivables | $304.3M | $264.6M | $166.7M | $130.5M | $77.2M | $39.7M | — | — |
| Total current assets | $1.66B | $1.34B | $1.28B | $1.12B | $1.05B | $348.5M | — | — |
| Property, plant and equipment | $11.8M | $4.0M | $3.0M | $5.8M | $3.3M | $0 | — | — |
| Goodwill | $17.4M | $16.1M | $8.1M | $8.1M | $8.1M | $0 | — | — |
| Other intangibles | $9.8M | $17.8M | $1.7M | $3.9M | $6.3M | $797.0K | — | — |
| Total assets | $1.72B | $1.40B | $1.32B | $1.17B | $1.09B | $362.6M | — | — |
| Accounts payable | $9.2M | $7.5M | $1.7M | $5.2M | $5.0M | $3.1M | — | — |
| Total current liabilities | $652.1M | $545.0M | $677.2M | $306.3M | $241.6M | $127.2M | — | — |
| Total liabilities | $686.5M | $578.0M | $715.0M | $344.5M | $292.2M | $168.9M | — | — |
| Retained earnings | -$1.22B | -$1.17B | -$1.16B | -$725.6M | -$553.3M | -$398.2M | — | — |
| Total equity | $990.7M | $775.9M | $606.4M | $814.5M | $790.4M | -$231.2M | -$134.7M | -$50.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $232.9M | -$64.0M | $35.0M | -$77.4M | -$49.8M | -$73.6M | -$60.2M | — |
| Depreciation and amortisation | $3.3M | $2.9M | $4.4M | $3.2M | $543.0K | $0 | $0 | — |
| Stock-based compensation | $215.0M | $185.9M | $163.0M | $122.6M | $30.0M | $111.8M | $40.9M | — |
| Capital expenditure | $10.8M | $3.8M | $1.6M | $6.1M | $3.5M | $0 | $0 | — |
| Investing cash flow | -$267.3M | -$30.5M | -$86.2M | -$605.7M | -$53.9M | -$842.0K | $0 | — |
| Financing cash flow | $34.8M | $32.6M | $45.2M | $97.5M | $701.2M | $12.9M | $271.3M | — |
| Buybacks | — | — | $0 | $0 | $590.0K | $820.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001653482-26-000085.
Others in SIC 7372
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |