GitLab Inc. - GTLB STOCK NEWS

GitLab Inc. has been recognized as a Leader in the 2024 Gartner Magic Quadrant for DevOps Platforms for the second consecutive year. The company was positioned highest in Ability to Execute and furthest in Completeness of Vision among all evaluated vendors. GitLab is the only vendor named a Leader in both the DevOps Platforms and AI Code Assistants Magic Quadrants for 2024.

GitLab's AI-powered DevSecOps platform helps organizations accelerate digital transformation initiatives throughout the software development lifecycle. The platform enables building better software faster, increasing operational efficiency, reducing security and compliance risks, and expediting cloud migrations.

GitLab Inc. (NASDAQ: GTLB) reported strong financial results for Q2 FY2025, ending July 31, 2024. Revenue increased 31% year-over-year to $182.6 million. The company saw significant improvements in GAAP and Non-GAAP operating margins. Notable achievements include:

- GAAP Net Income of $12.9 million, compared to a loss of $50.1 million in Q2 FY2024
- Non-GAAP Net Income of $24.5 million, up from $1.9 million in Q2 FY2024
- Customers with >$100,000 ARR grew 33% year-over-year to 1,076
- Dollar-Based Net Retention Rate was 126%

GitLab also announced the general availability of GitLab Duo Enterprise, an AI add-on for DevSecOps teams, and achieved 'In Process' FedRAMP designation at the Moderate impact level.

GitLab Inc. (NASDAQ: GTLB), the leading AI-powered DevSecOps platform, has announced that its Chief Financial Officer, Brian Robins, will be presenting at the Piper Sandler Growth Frontiers Conference in Nashville, Tennessee. The event is scheduled for Tuesday, September 10th, 2024, at 1:00 p.m. Central Time.

The presentation will take the form of a fireside chat and will be webcast live. Interested parties can access the webcast through the provided link. Additionally, both the live webcast and a replay will be available on the investor relations section of the GitLab website for one year following the event, ensuring widespread accessibility for stakeholders and interested investors.

GitLab Inc. has announced the general availability of GitLab Duo Enterprise, an AI-powered add-on for its DevSecOps platform, priced at $39 per user per month. This add-on, available to Ultimate customers, provides end-to-end AI capabilities across the entire software development lifecycle. GitLab was recently recognized as a Leader in the 2024 Gartner Magic Quadrant for AI Code Assistants.

GitLab Duo Enterprise includes features such as code generation, vulnerability explanation and resolution, root cause analysis, and an AI impact dashboard. These tools aim to improve productivity, speed up deployments, and enhance security. The company's 2024 Global DevSecOps report highlights the potential for AI to introduce efficiencies beyond code creation, as developers currently spend less than a quarter of their time writing new code.

GitLab Inc. has been recognized as a Leader in the inaugural 2024 Gartner Magic Quadrant for AI Code Assistants. This evaluation, which included 12 vendors, assessed GitLab's 'Completeness of Vision' and 'Ability to Execute'. GitLab's comprehensive AI-powered DevSecOps platform integrates privacy-first AI throughout the entire software development lifecycle, not just at the code creation stage.

Leaders in this Magic Quadrant excel in delivering AI-powered capabilities that enhance developer productivity, code quality, and security across the SDLC. They demonstrate market understanding, continuous innovation, and robust ecosystem building through integrations with third-party tools. GitLab's recognition highlights its focus on delivering tangible business results through AI integration, supporting all team members involved in software creation while mitigating AI adoption risks.

GitLab Inc. (NASDAQ: GTLB), the AI-powered DevSecOps Platform provider, has announced it will release its second quarter fiscal 2025 financial results on Tuesday, September 3, 2024, after U.S. markets close. The company will host a conference call and webcast at 4:30 p.m. EST / 1:30 p.m. PST on the same day to discuss the results.

Interested parties can register for the earnings call at https://bit.ly/3WxrJdE. A webcast replay will be available on GitLab's investor relations website for one year. The company utilizes its Investor Relations website and X feed (@gitlab) to disclose material nonpublic information and comply with Regulation FD disclosure obligations.

GitLab announced it has achieved the 'In Process' designation at the Moderate impact level from FedRAMP, a program promoting secure cloud services across the federal government. This designation is a key step toward receiving full FedRAMP 'Authorized' status. It highlights GitLab's robust data security and governance capabilities, essential for public sector agencies and highly regulated industries. GitLab Dedicated for Government, a single-tenant managed SaaS offering, aims to meet stringent U.S. government security and compliance requirements, emphasizing data residency, isolation, and private networking. This achievement underlines GitLab's commitment to supporting government modernization efforts by offering a secure DevSecOps platform.

GitLab's 8th annual Global DevSecOps Report reveals mixed sentiments on AI, security, and productivity among 5,300 surveyed stakeholders. While 69% of CxOs report doubling their software shipping speed compared to last year, AI integration remains low at 26%. Key findings include a significant disparity in perceptions of AI risks and training needs between executives and staff. Additionally, 67% of developers use code from open-source libraries, but only 21% of organizations document their software composition with SBOMs. Organizational red tape hinders quick vulnerability fixes, and differing tool usage slows development velocity. The report underscores the need for improved collaboration and technology adoption to bridge these gaps.

GitLab has announced expanded integrations with Google Cloud, significantly enhancing the developer experience through faster, more secure software delivery. The new features include streamlined authentication, automated CI/CD processes, and a unified data plane, combining GitLab's DevSecOps platform with Google services like Identity Access Management and Workload Identity Federation. Key benefits for users include reduced operational costs, improved security, and enhanced productivity, with complete visibility into the entire software development lifecycle. This integration aims to minimize context switching, thereby boosting efficiency and traceability of build artifacts.