Gitlab Inc Stock Intrinsic Value – GITLAB INC Reports Results for FY2024 Q2, Ending July 31 2023
September 7, 2023
🌥️Earnings Overview
On September 5 2023, GITLAB INC ($NASDAQ:GTLB) reported their financial results for the second quarter of the fiscal year 2024, ending on July 31 2023. The company showed a 38.1% increase in total revenue from the same period of the previous year, with the total revenue for Q2 measuring in at USD 139.6 million. Net income was reported at USD -50.1 million, a significant improvement from the -59.0 million reported the year before.
Price History
The stock opened at $49.6 and closed at $49.7, representing a 1.2% increase from its previous closing price of $49.2. GITLAB INC‘s new product offerings and strategic acquisitions were among the primary drivers for their increased earnings. The company also saw an increase in demand for their cloud services and products, specifically in the Asia-Pacific region where they had strengthened their presence over the past year. Overall, GITLAB INC’s performance during FY2024 Q2 was strong and financial analysts are optimistic about the company’s future prospects. With increasing demand for their services and continued focus on innovation, GITLAB INC is well-positioned to continue its growth trajectory in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gitlab Inc. More…
| Total Revenues | Net Income | Net Margin |
| 502.35 | -189.74 | -35.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gitlab Inc. More…
| Operations | Investing | Financing |
| 3.23 | -187.24 | 44.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gitlab Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.19k | 357.83 | 5.13 |
Key Ratios Snapshot
Some of the financial key ratios for Gitlab Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 73.5% | – | -42.9% |
| FCF Margin | ROE | ROA |
| -0.0% | -17.4% | -11.3% |
Analysis – Gitlab Inc Stock Intrinsic Value
At GoodWhale, we have recently conducted an analysis of GITLAB INC‘s financials. Based on our proprietary Valuation Line, we have calculated the intrinsic value of GITLAB INC share to be around $66.1. Currently, GITLAB INC stock is traded at $49.7, which is undervalued by 24.8%. This indicates that GITLAB INC’s current stock price is below its intrinsic value, making it a great investment opportunity. More…
Peers
Its competitors are ATTRAQT Group PLC, UserTesting Inc, and Tymlez Group Ltd.
– ATTRAQT Group PLC ($LSE:ATQT)
FATRAQT Group PLC is a publicly traded company with a market capitalization of 60.47 million as of 2022. The company has a return on equity of -7.65%. The company is involved in the development and marketing of software products and services.
– UserTesting Inc ($NYSE:USER)
UserTesting Inc is a publicly traded company with a market capitalization of 1.07 billion as of 2022. The company has a return on equity of -27.62%. UserTesting Inc is a provider of on-demand human insights, enabling companies to measure and improve the digital user experience. The company was founded in 2007 and is headquartered in San Francisco, California.
– Tymlez Group Ltd ($ASX:TYM)
Tymlez Group Ltd is a technology company that provides enterprise software solutions. The company has a market cap of 19.79M and a Return on Equity of -82.23%. The company’s products and services include enterprise application integration, business process management, and cloud computing. Tymlez Group Ltd was founded in 2000 and is headquartered in Amsterdam, the Netherlands.
Summary
GitLab Inc has released strong financial results for Q2 2024, with total revenue of $139.6 million, an increase of 38.1% year-over-year. Despite this, the company reported a net loss of $50.1 million, which is an improvement from the year before. Investors will be pleased to see the strong revenue growth, as well as the narrowing of the loss. Going forward, investors should keep an eye on GitLab’s ability to continue to generate revenue and manage costs, which will ultimately determine the success of the company.
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