GitLab Inc. - GTLB STOCK NEWS

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.

GitLab Inc. has launched its first annual US Partner Leadership Summit, announcing a significant expansion of its partner program, which saw a 75% increase in channel and alliance partners over the past year. The company welcomed new partners such as Dynatrace and Secure Code Warrior, and reported a 292% surge in onboarded alliance partners. GitLab issued 2,700 certifications, enhancing the ecosystem's capabilities. The summit aims to foster collaboration in delivering a comprehensive DevOps platform, addressing the evolving needs of businesses seeking to innovate and retain customers effectively.

GitLab Inc. (NASDAQ: GTLB) announced the launch of GitLab 15, enhancing its comprehensive DevOps platform with new capabilities for software development and collaboration. The update aims to improve efficiency, visibility, continuous security, compliance, and enterprise agile planning. Key features include better observability, security scanning, workflow automation, and ML capabilities for data science. With 90% of companies prioritizing DevOps, GitLab's unified platform addresses the need for mature practices, allowing organizations to streamline operations and deliver software faster and more securely.

GitLab Inc. (GTLB) will report its financial results for Q1 FY2023, ending April 30, 2022, after U.S. markets close on June 6, 2022. A Zoom video conference and earnings webcast will commence at 4:30 p.m. EST / 1:30 p.m. PST that day to discuss these results. Registration for the call is available online, and a replay will be accessible on GitLab's Investor Relations website shortly after.

GitLab positions itself as The One DevOps Platform, offering a unified interface and various capabilities to streamline software innovation across multiple cloud environments.

GitLab (GTLB) has been approved as a vendor under California's Software Licensing Program (SLP), allowing state and local agencies, including educational institutions, to purchase GitLab software licenses at discounted rates. This initiative aims to enhance the accessibility and cost-effectiveness of GitLab’s DevOps Platform, enabling faster and more efficient software delivery. With this contract, agencies can modernize legacy systems while ensuring security and compliance. GitLab's offerings are now available under SLP, streamlining the procurement process for public sector organizations.

GitLab (NASDAQ: GTLB) announces the appointment of Ashley Kramer as Chief Marketing and Strategy Officer, effective April 4, 2022. Kramer's extensive experience at leading tech firms like Tableau and Alteryx is expected to bolster GitLab's growth in the DevOps platform sector, which boasts a projected market opportunity of $40 billion. The company's recent fourth-quarter results show a remarkable 69% year-over-year revenue increase and a dollar-based net retention rate exceeding 152%, highlighting strong customer adoption.

GitLab (NASDAQ: GTLB) announces the resignation of David Hornik from its Board of Directors and Audit Committee, to focus more on early-stage venture investments. Hornik's extensive experience in the tech industry aided GitLab in scaling its operations and achieving its IPO. CEO Sid Sijbrandij expressed gratitude for Hornik's contributions. Despite his departure, Hornik remains optimistic about GitLab’s future, highlighting a shift toward unified DevOps platforms.