GitLab reports strong financial results for Q1 FY 2025, with revenue up 33% year-over-year.
From GlobeNewswire: 2024-06-03 16:05:00
GitLab Inc. reported strong financial results for the first quarter of fiscal year 2025, with total revenue reaching $169.2 million, up 33% year-over-year. The company also saw significant operating margin expansion and generated operating cash flow of $38.1 million. GitLab continues to enhance its end-to-end DevSecOps platform with AI-driven innovations, providing value to customers across the software development lifecycle.
In addition to its financial highlights, GitLab achieved several milestones in the first quarter, including reaching 8,976 customers with more than $5,000 of ARR, and 1,025 customers with more than $100,000 of ARR. The Dollar-Based Net Retention Rate stood at 129%, reflecting strong customer loyalty. Total RPO grew 48% year-over-year to $681.2 million, supporting GitLab’s continued growth and success in the market.
GitLab announced several key initiatives and acquisitions in the first quarter, such as the integration with Google Console, which enhances developer experience across GitLab and Google Cloud. The company was also recognized with the 2024 Google Cloud Technology Partner of the Year Award in the Application Development – DevOps category. GitLab introduced new features like GitLab Duo Chat and AI privacy controls to further enhance its platform’s capabilities.
Looking ahead, GitLab provided its financial outlook for the second quarter and fiscal year 2025, expecting revenue in the range of $176.0 – $177.0 million for Q2 and $733.0 – $737.0 million for the full year. Non-GAAP operating income is projected to be $10.0 – $11.0 million for Q2 and $34.0 – $38.0 million for FY 2025. The company remains optimistic about its growth trajectory and ongoing commitment to delivering value to customers through its DevSecOps platform.
For more information on GitLab’s financial results and future outlook, interested parties can access the conference call on June 3, 2024, at 1:30 p.m. (PT) / 4:30 p.m. (ET). A live webcast will be available on GitLab’s investor relations website, with a replay archived for one year. GitLab continues to focus on innovation, customer success, and driving efficiency in software development through its comprehensive DevSecOps platform.
Read more at GlobeNewswire:: GitLab Reports First Quarter Fiscal Year 2025 Financial