GitLab Inc. - GTLB STOCK NEWS

GitLab Inc. has launched Cloud Seed in collaboration with Google Cloud to enhance cloud adoption and app modernization. Announced during Google Cloud Next on October 11, 2022, Cloud Seed streamlines the developer experience by integrating cloud services into GitLab's platform. It aims to facilitate quicker cloud migration while optimizing operational efficiency for users. This initiative aligns with GitLab’s mission to support cloud transformation, helping organizations scale effectively.

GitLab Inc. (NASDAQ: GTLB) has launched TeamOps, a new management discipline aimed at enhancing teamwork across various work environments. This certification highlights the importance of objective decision-making and shared knowledge. It focuses on empowering all team members to contribute to business outcomes, optimizing knowledge retrieval, and speeding up decision-making processes. GitLab's certification is free and open to the public, reflecting its mission to foster collaborative and efficient work practices.

GitLab announced that Brian Robins, the Chief Financial Officer, will present at the Piper Sandler Growth Frontiers Conference on September 13, 2022. The presentation is scheduled for 1:30 PM Central Time and will be available for live webcast. The event aims to spotlight GitLab's position as The One DevOps Platform, showcasing its comprehensive integration of DevOps capabilities. A replay of the fireside chat will be accessible via the investor relations section of GitLab's website.

GitLab Inc. (NASDAQ: GTLB) reported a remarkable 74% year-over-year revenue growth in Q2 FY2023, reaching $101.0 million. The company achieved its highest number of new base customers in a single quarter. Despite these gains, GitLab posted a GAAP net loss per share of $(0.40), although this improved from $(0.75) year-over-year. The non-GAAP operating margin increased by 1,500 basis points compared to the previous year, reflecting a non-GAAP net loss per share of $(0.15). Looking ahead, GitLab expects Q3 revenue between $105.0 million and $106.0 million.

GitLab Inc. (NASDAQ: GTLB) will report its financial results for Q2 of fiscal year 2023 on September 6, 2022, after U.S. market close. The earnings call will begin at 4:30 p.m. EST (1:30 p.m. PST) the same day. Interested parties can register for the video conference and earnings webcast through GitLab's Investor Relations website. The archived replay of the webcast will be available post-event. GitLab continues to position itself as a leader in the DevOps sector, offering a comprehensive platform for software innovation.

GitLab Inc. (NASDAQ: GTLB) reported fiscal Q1 2023 revenue of $87.4 million, a 75% year-over-year increase, with a GAAP net loss per share of $(0.18). The company's dollar-based net retention rate exceeded 130%, reflecting strong customer growth and engagement. Despite an operating margin drop to (49)%, non-GAAP metrics showed improvement with a non-GAAP operating margin of (28)%. Outlook for Q2 anticipates revenue between $93.5 million and $94.5 million and a non-GAAP net loss per share of $(0.24) to $(0.23).

GitLab, trading under the symbol GTLB, will present at the BofA Securities 2022 Global Technology Conference on June 8, 2022. The event, held at the Ritz-Carlton Hotel in San Francisco, CA, features a fireside chat scheduled for 2:20 p.m. Pacific Time. The session will be accessible via live webcast, with additional links and a replay available on GitLab's investor relations website. GitLab is dedicated to delivering the only true cloud-agnostic end-to-end DevOps platform, enabling organizations to innovate, scale, and effectively manage their software development.