GitLab Reports Better-Than-Expected Earnings and Revenue for Quarter
June 23, 2023
🌥️Trending News
GITLAB ($NASDAQ:GTLB): GitLab Inc., the software development platform provider, reported better-than-expected earnings and revenue for its most recent quarter. The company’s Non-GAAP Earnings Per Share (EPS) of -$0.06 came in $0.08 higher than analysts had predicted, and their revenue of $126.88M surpassed forecasts by $9.05M. GitLab Inc. is a global software company that offers a single application for the entire DevOps lifecycle. Their mission is to reduce friction between software development and operations to make it easier to deliver value for customers. The company offers a wide variety of products, including a web-based DevOps platform, a source control management system, and a continuous integration/delivery system. It also provides services to help customers adopt DevOps and use their platform effectively.
The company’s strong performance was driven by continued product innovation and expanding customer base. With its cloud-based platform, GitLab Inc. continues to gain traction with developers and companies, and its revenue growth reflects that. The company is well positioned to capitalize on the increasing demand for its products in the fast-growing DevOps space. Overall, GitLab Inc.’s better-than-expected earnings and revenue for the quarter demonstrate the strength of the company’s business model and their ability to capitalize on the increasing demand for their products. Investors should remain optimistic about the company’s future prospects.
Earnings
GITLAB INC recently released their earning report for the fourth quarter of FY2023 ending January 31 2023. The company reported better-than-expected earnings and revenue, posting a total revenue of 122.91M USD and a net income of 38.73M USD. This significant increase was also seen in the last three years, with GITLAB INC successfully growing their total revenue from 46.15M USD to 122.91M USD.
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 |
| 463.81 | -198.68 | -40.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gitlab Inc. More…
| Operations | Investing | Financing |
| -60.21 | -572.48 | 61.27 |
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 |
| 1.16k | 348.51 | 5 |
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% | – | -48.9% |
| FCF Margin | ROE | ROA |
| -13.9% | -18.4% | -12.2% |
Price History
The company’s stock opened at $34.0 and closed at $35.4, up by 5.0% from previous closing price of 33.7. The strong second quarter results were driven by the company’s continued focus on customer success and product innovation. This was the sixth consecutive quarter of accelerated annual recurring revenue growth for Enterprise Edition. With continued focus on customer success and product innovation, GitLab Inc is well-positioned for long-term growth. Live Quote…
Analysis
GoodWhale is here to help you analyze GITLAB INC‘s financials. After carefully examining the company’s financial and business data, GoodWhale has concluded that GITLAB INC is a medium risk investment. Our Risk Rating system provides an in-depth assessment of the company’s financial and business health. We have also detected 3 risk warnings in the company’s cashflow statement, non-financial and financial journal. To access this information, become a registered user on our platform and check it out. With GoodWhale, you can quickly assess the risk of any potential investments in one place. Sign up now and get started! More…
Peers
Its competitors are ATTRAQT Group PLC, UserTesting Inc, and Tymlez Group Ltd.
– ATTRAQT Group PLC ($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 is a software company that specializes in DevOps and application life-cycle management. Recently, their non-GAAP earnings per share (EPS) beat the expectations by $0.08, coming in at -$0.06. Revenue was also higher than expected, at $126.88 million, which was a beat of $9.05 million. This news pushed the stock price up the same day.
This is a positive sign and suggests that investors are confident in the company’s future prospects. It is important to keep an eye on the company’s fundamentals and how they are performing against their peers, as well as any changes to their corporate strategy or financials, in order to make informed investment decisions.
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