GitLab Inc. - GTLB STOCK NEWS

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.

GitLab (NASDAQ: GTLB) reported its Q1 FY 2025 financial results, showcasing significant growth and financial improvements. Revenue increased by 33% year-over-year to $169.2 million. Both GAAP and Non-GAAP operating margins expanded, with a positive operating cash flow of $38.1 million and a Non-GAAP adjusted free cash flow of $37.4 million. Despite a GAAP net loss of $54.6 million, the Non-GAAP net income was $4.5 million, equating to $0.03 per share. Key achievements include enhancing the AI-driven DevSecOps platform, integration with Google Console, and two strategic acquisitions. The company forecasts revenue of $733.0-$737.0 million for FY 2025, despite an estimated $4 million headwind from a prior guidance adjustment.

GitLab has announced new AI-driven innovations to enhance software development with the launch of GitLab Duo Enterprise. This end-to-end AI add-on assists in securing software, addressing vulnerabilities, and increasing team collaboration. Key features include AI-powered root cause analysis, a new AI Impact Dashboard, and customizable AI model personalization.

Additionally, GitLab introduces a new CI/CD catalog to standardize workflows and a range of new capabilities including a Native Secrets Manager, GitLab Dedicated on Google Cloud, enhanced Static Application Security Testing (SAST), and product analytics.

These advancements aim to streamline the software development lifecycle, making it faster and more secure for organizations.

GitLab (NASDAQ: GTLB) will release its first quarter fiscal year 2025 financial results on June 3, 2024, following the close of U.S. markets. The quarter ended on April 30, 2024.

Management will host a conference call and webcast to discuss the results at 4:30 p.m. EST / 1:30 p.m. PST on the same day. The webcast will be available on GitLab's investor relations website for one year.

Investors can join the call using conference ID GITLAB or dial 1-800-225-9448 (US/Canada Toll-Free) or 1-203-518-9708 (Toll).

Fleet, the leader in open-source device management, introduces a new 'Maintenance windows' feature to auto-schedule OS updates for macOS, Windows, and Linux, aiming to reduce disruptions caused by IT notifications and forced restarts. The feature analyzes each employee's calendar to find the optimal update time, improving security and user experience for both in-office and remote workers.