GitLab reports strong Q2 FY2025 earnings, revenue up 31%, RPO growth of 51%

From GlobeNewswire: 2024-09-03 16:05:00

In the second quarter of fiscal year 2025, GitLab reported total revenue of $182.6 million, marking a 31% increase year-over-year. Operating cash flow was $11.7 million, with GAAP operating margin at 10%. Customers with over $5,000 of ARR increased by 19%, while the Dollar-Based Net Retention Rate reached 126%. The company also saw a total RPO growth of 51% year-over-year, reaching $747.9 million.

GitLab’s CEO, Sid Sijbrandij, emphasized the importance of delivering software faster to stay competitive. The company’s AI-powered DevSecOps platform is aligning with business goals and improving security for customers. CFO Brian Robins highlighted operational successes, showcasing over 30% top-line growth and significant operating margin expansion in the second quarter of fiscal year 2025.

Within GitLab’s business highlights, achievements include being named a Leader in the 2024 Gartner Magic Quadrant for AI Code Assistants and obtaining a FedRAMP “In Process” designation at the Moderate impact level. The company’s Global DevSecOps Report revealed increased investments in security, AI, and automation improving developer experiences and addressing critical areas like AI risk and software supply chain security.

Looking ahead, GitLab expects revenue for the third quarter and fiscal year 2025 to be between $187.0 – $188.0 million and $742.0 – $744.0 million, respectively. The non-GAAP operating income is projected to be $19.0 – $20.0 million for Q3 and $55.0 – $58.0 million for the fiscal year. GitLab will host a conference call today, September 3, 2024, to discuss these financial results and guidance. Interested parties can register for the call in advance on GitLab’s investor relations website.



Read more at GlobeNewswire:: GitLab Reports Second Quarter Fiscal Year 2025 Financial