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Gitlab Inc. (GTLB) stock

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NASDAQ: GTLB Nasdaq Systems Software Next results ~December 1, 2026

C Fundamentals grade

Gitlab Inc. is a US-listed company in the systems software industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$21

Valuation models combined (3)

Base case. Range ~$17–$27. Weighted average of 3 models (forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Gitlab Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 6 selling5 purchases and 54 sales by directors and officers, last 12 monthsInsider trades
  • Funds224 adding, 184 cuttingOf 62 active managers that changed their stake, 37 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Gitlab files

Where Gitlab stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $1.06bn, up 23.0% on a year earlier, slower than 24.9% a quarter earlier. Free-cash-flow margin rose to 20.3% from 4.2% a year earlier. Operating margin widened to -8.5% from -11.8%. The diluted share count is up 4.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $21.29 a share, against a share price of $55.16.

Source: 10-Q filed September 2, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 1, 2026 (estimated)

Gitlab Inc.'s trailing-twelve-month revenue grew 23.0% year on year, with a free-cash-flow margin of 20.3%. Where it stands out: gross margin of 85.8% ranks 3 of 32 systems software companies we cover. Where it lags: stock pay as % of revenue of 21.8% ranks 29 of 36 systems software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 496.3% while net income fell 479.8%: a 976pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 23.0% over the last 12 months, against a median of 16.9% for systems software companies we cover.
  • Margins widening. Operating margin is up 3.2 points on a year ago.
  • Strong cash generation. 20.3% of revenue turned into free cash flow, against a median of 17.3% for systems software companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Loss-making. Operating margin is -8.5%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 21.8% of revenue, against a median of 8.5% for systems software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 4.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of 1.0 against the S&P 500.
  • Gross margin slipping. Gross margin is down 2.8 points on a year ago.

Latest results: FY2027 Q2

Filed September 2, 2026
Earnings per share
$0.24 against an average estimate of $0.18: beat by 33.6%
Revenue
$286m, up 21.3% on a year earlier
Share reaction
+6.6% in the first session after the results on September 1, 2026, against -0.2% for the S&P 500
Guidance given
revenue $281m to $283m (Q3 FY 2027 Guidance); revenue $1,129m to $1,133m (FY 2027 Guidance)
Next report
December 1, 2026; average EPS estimate $0.20

Gitlab's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.7%
  • 1 week-8.0%
  • 1 month+4.7%
  • This year+38.8%
  • 1 year+6.9%
  • 5 years-54.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
-8.5%
Net margin
-5.0%
EPS (TTM, diluted)
$-0.31

Growth

Revenue growth
+23.0%
Change in growth rate
−1.9 pts
Share count change
+4.2%

Cash

Free cash flow (TTM)
$214M
FCF margin
20.3%
Stock pay % of revenue
21.8%

Earnings

Last results
September 1, 2026
Next results (est.)
November 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results
  7. Guidance
  8. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Gitlab Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Gitlab Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.28 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$4.0 ~$2.9–$4.9 Left out: out of range vs price (0.08x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$17 ~$12–$34 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$27 ~$27–$62 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$23 ~$19–$28 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$21 ~$17–$27 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Gitlab Inc. with Systems Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20222023202420252026Now
Share price$64.01$49.41$71.11$72.76$34.98$52.11
Market value$5.1bn$7.3bn$11.0bn$11.7bn$5.8bn$8.8bn
+ Net debt (− = net cash)−$885m−$295m−$288m−$228m−$230m−$226m
Enterprise value$4.2bn$7.0bn$10.7bn$11.5bn$5.6bn$8.6bn
Multiples
Price / sales 20.2x17.3x18.9x15.4x6.1x8.3x
Price / earnings ——————
Price / free cash flow ——n/m—26.3x41.2x
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

48 /100

Moderate moat

How hard Gitlab's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Cash operating profit has been a median 4.6% of total assets over 5 years.

  • Pricing power 20 / 20

    Gross margin has been a median 88.4%, moving by 1.1 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -34.2%; its worst year was -106.3%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 3 of 5 years, at a median 4.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (53 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 1, 2026, after the close. Analysts expect revenue of $283m and EPS of $0.20 (range $0.19 to $0.22) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.87 −10% $1.1bn +19%
Next $1.04 +20% $1.3bn +16%

Next year's EPS estimate has moved +0.9% in 90 days, across 27 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +6.6% on 90 days ago. In the last 30 days, 25 analysts raised Gitlab Inc.'s forecast and 0 cut it.

Consensus EPS forecast Gitlab Inc., last 90 days
$0.80 $0.90 $1.00 $1.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.81 Current fiscal year, 60 days ago: $0.81 Current fiscal year, 30 days ago: $0.87 Current fiscal year, 7 days ago: $0.87 Current fiscal year, Now: $0.87 $0.87 Next fiscal year, 90 days ago: $1.03 Next fiscal year, 60 days ago: $1.03 Next fiscal year, 30 days ago: $1.04 Next fiscal year, 7 days ago: $1.04 Next fiscal year, Now: $1.04 $1.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.81$1.03
60 days ago $0.81$1.03
30 days ago $0.87$1.04
7 days ago $0.87$1.04
Now $0.87$1.04

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $0.18 $0.24 +33.6%
Apr 2026 $0.20 $0.23 +12.3%
Jan 2026 $0.23 $0.30 +30.0%
Oct 2025 $0.20 $0.25 +24.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 1, 2026
  • Revenue FY 2027 Guidance $1,129m to $1,133m
    “Revenue $281 - $283 $1,129 - $1,133” source
  • Revenue Q3 FY 2027 Guidance $281m to $283m
    “Revenue $281 - $283 $1,129 - $1,133” source
  • Non-GAAP diluted net income per share FY 2027 Guidance $0.85 to $0.87 Non-GAAP
    “Non-GAAP diluted net income per share assuming approximately 172 million and 172 million weighted average shares outstanding during Q3 FY 2027 and FY 2027, respectively. $0.19 - $0.20 $0.85 - $0.87” source
  • Non-GAAP diluted net income per share Q3 FY 2027 Guidance $0.19 to $0.20 Non-GAAP
    “Non-GAAP diluted net income per share assuming approximately 172 million and 172 million weighted average shares outstanding during Q3 FY 2027 and FY 2027, respectively. $0.19 - $0.20 $0.85 - $0.87” source
  • Non-GAAP operating income FY 2027 Guidance $148m to $152m Non-GAAP
    “Non-GAAP operating income $35 - $37 $148 - $152” source
  • Non-GAAP operating income Q3 FY 2027 Guidance $35m to $37m Non-GAAP
    “Non-GAAP operating income $35 - $37 $148 - $152” source

How earlier guidance turned out

  • Revenue, Q2 FY 2027 guided $272m to $274m Above range: $286m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

28 analysts, Oct 2026
Buy932%
Hold1864%
Sell14%

Monthly trend

  1. Oct 202681828
  2. Sep 202681828
  3. Aug 2026717227
  4. Jul 2026717227

Counts of recommendations published by analysts covering Gitlab Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.2%
of tradable shares
Days to cover
3.16
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
90%
of shares
Held by insiders
2.2%
of shares
Employees
2,580
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +6.9%

$48.75 on October 31, 2025 to $52.11

ThenNowEffect
Revenue (last 12 months) $858m $1.1bn +23.0%
P/S multiple 9.2x 8.3x −9.5%
Share count 162m 169m −4.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +23.0%

$42.36 on November 3, 2023 to $52.11

ThenNowEffect
Revenue (last 12 months) $502m $1.1bn +110.0%
P/S multiple 12.7x 8.3x −34.6%
Share count 151m 169m −10.5%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
GTLB−48%+39%−11%−33%+39%
Industry peers (median)−40%+29%+23%+0%+25%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
GTLB33%42%58%25%55%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
GTLB−62%−54%−47%−49%−49%
S&P 500−25%−10%−8%−19%−9%

Worst fall since October 14, 2021: 85% from November 8, 2021 to April 10, 2026. Getting back needed a 574% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$19.42 – $57.97
From 52-week high
−10.1%
vs 50-day average
+3.6%
vs 200-day average
+52.6%
Volatility (1 year)
60%
Beta vs S&P 500
0.96

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±8.6%
After a week
2 up, 10 down
typical move ±9.9%
After a month
4 up, 8 down
typical move ±11.5%
Results releasedNext dayS&P 500 next day5 days21 days
September 1, 2026 +6.6% −0.2% −0.5% +7.3%
June 2, 2026 −8.5% −0.6% −10.3% −5.1%
May 11, 2026 −11.2% +0.1% −3.4% +9.7%
March 3, 2026 −4.4% −0.2% −11.5% −16.1%
December 2, 2025 −8.1% +0.5% −5.2% −12.1%
September 3, 2025 −8.9% +1.4% +2.8% −2.5%
June 10, 2025 −10.8% +0.3% −13.9% −13.6%
March 3, 2025 +4.3% −2.9% −15.3% −20.9%
December 5, 2024 +0.9% 0.0% −8.3% −9.0%
September 3, 2024 +14.7% −2.3% +18.6% +6.0%
June 3, 2024 −5.2% +0.2% −6.2% +12.7%
March 4, 2024 −19.7% −1.1% −23.0% −22.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Gitlab Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Gitlab Inc.
$400M $600M $800M $1B $1.2B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $539M Revenue (TTM), FY24 Q4: $579.9M Revenue (TTM), FY25 Q1: $622.2M Revenue (TTM), FY25 Q2: $665.2M Revenue (TTM), FY25 Q3: $711.6M Revenue (TTM), FY25 Q4: $759.2M Revenue (TTM), FY26 Q1: $804.6M Revenue (TTM), FY26 Q2: $857.9M Revenue (TTM), FY26 Q3: $906.3M Revenue (TTM), FY26 Q4: $955.2M Revenue (TTM), FY27 Q1: $1B Revenue (TTM), FY27 Q2: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $539M
FY24 Q4 $579.9M
FY25 Q1 $622.2M
FY25 Q2 $665.2M
FY25 Q3 $711.6M
FY25 Q4 $759.2M
FY26 Q1 $804.6M
FY26 Q2 $857.9M
FY26 Q3 $906.3M
FY26 Q4 $955.2M
FY27 Q1 $1B
FY27 Q2 $1.1B
Revenue growth, TTM YoY Gitlab Inc.
20% 25% 30% 35% 40% 45% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 42.1% Revenue growth, TTM YoY, FY24 Q4: 36.7% Revenue growth, TTM YoY, FY25 Q1: 34.2% Revenue growth, TTM YoY, FY25 Q2: 32.4% Revenue growth, TTM YoY, FY25 Q3: 32.0% Revenue growth, TTM YoY, FY25 Q4: 30.9% Revenue growth, TTM YoY, FY26 Q1: 29.3% Revenue growth, TTM YoY, FY26 Q2: 29.0% Revenue growth, TTM YoY, FY26 Q3: 27.4% Revenue growth, TTM YoY, FY26 Q4: 25.8% Revenue growth, TTM YoY, FY27 Q1: 24.9% Revenue growth, TTM YoY, FY27 Q2: 23.0% 23.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 42.1%
FY24 Q4 36.7%
FY25 Q1 34.2%
FY25 Q2 32.4%
FY25 Q3 32.0%
FY25 Q4 30.9%
FY26 Q1 29.3%
FY26 Q2 29.0%
FY26 Q3 27.4%
FY26 Q4 25.8%
FY27 Q1 24.9%
FY27 Q2 23.0%
Operating margin (TTM) Gitlab Inc.
-40% -30% -20% -10% 0% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: -36.9% Operating margin (TTM), FY24 Q4: -32.3% Operating margin (TTM), FY25 Q1: -29.4% Operating margin (TTM), FY25 Q2: -25.5% Operating margin (TTM), FY25 Q3: -22.2% Operating margin (TTM), FY25 Q4: -18.8% Operating margin (TTM), FY26 Q1: -15.4% Operating margin (TTM), FY26 Q2: -11.8% Operating margin (TTM), FY26 Q3: -9.3% Operating margin (TTM), FY26 Q4: -7.4% Operating margin (TTM), FY27 Q1: -5.1% Operating margin (TTM), FY27 Q2: -8.5% -8.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 -36.9%
FY24 Q4 -32.3%
FY25 Q1 -29.4%
FY25 Q2 -25.5%
FY25 Q3 -22.2%
FY25 Q4 -18.8%
FY26 Q1 -15.4%
FY26 Q2 -11.8%
FY26 Q3 -9.3%
FY26 Q4 -7.4%
FY27 Q1 -5.1%
FY27 Q2 -8.5%
FCF margin (TTM) Gitlab Inc.
-20% 0% 20% 40% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: -0.7% FCF margin (TTM), FY24 Q4: 5.8% FCF margin (TTM), FY25 Q1: 13.2% FCF margin (TTM), FY25 Q2: 9.9% FCF margin (TTM), FY25 Q3: -14.8% FCF margin (TTM), FY25 Q4: -8.9% FCF margin (TTM), FY26 Q1: 0.0% FCF margin (TTM), FY26 Q2: 4.2% FCF margin (TTM), FY26 Q3: 26.7% FCF margin (TTM), FY26 Q4: 23.2% FCF margin (TTM), FY27 Q1: 26.2% FCF margin (TTM), FY27 Q2: 20.3% 20.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 -0.7%
FY24 Q4 5.8%
FY25 Q1 13.2%
FY25 Q2 9.9%
FY25 Q3 -14.8%
FY25 Q4 -8.9%
FY26 Q1 0.0%
FY26 Q2 4.2%
FY26 Q3 26.7%
FY26 Q4 23.2%
FY27 Q1 26.2%
FY27 Q2 20.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Jul 2026
Income
Revenue 81 152 253 424 580 759 955 1,055
Gross profit 72 134 223 373 520 674 834 905
EBITDA −128 −214 −128 −208 −183 −140 −67 −86
Operating income −128 −214 −129 −211 −187 −143 −70 −90
Net income −131 −192 −155 −173 −426 −6 −56 −53
Diluted EPS −$2.76 −$3.82 −$1.95 −$1.17 −$2.76 −$0.04 −$0.34 −$0.31
Growth (year on year)
Revenue — +87.3% +66.0% +68.0% +36.7% +30.9% +25.8% +23.0%
Margins
Gross margin 88.5% 87.9% 88.1% 87.8% 89.7% 88.8% 87.4% 85.8%
EBITDA margin −158.0% −140.6% −50.8% −49.1% −31.6% −18.4% −7.0% −8.1%
Operating margin −158.0% −140.6% −51.0% −49.8% −32.3% −18.8% −7.4% −8.5%
Net margin −161.0% −126.3% −61.4% −40.9% −73.4% −0.8% −5.9% −5.0%
Free-cash-flow margin −74.1% −48.4% −21.1% −19.7% 5.8% −8.9% 23.2% 20.3%
Cash flow
Cash from operations −60 −74 −50 −77 35 −64 233 223
Capital spending 0 0 4 6 2 4 11 10
Free cash flow −60 −74 −53 −83 33 −68 222 214
Stock-based pay 41 112 30 123 163 186 215 230
Free cash flow after stock pay −101 −185 −83 −206 −130 −254 7 −16
Balance sheet
Cash 343 283 885 295 288 228 230 226
Total debt 0 — — — — — — 0
Net debt (negative = net cash) −343 −283 −885 −295 −288 −228 −230 −226
Diluted shares 47m 50m 80m 148m 154m 161m 167m 169m
Returned to shareholders
Buybacks 0 1 1 0 0 — — —
Total returned 0 1 1 0 0 — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · July 31, 2026
What it owns · $1.7bn
Short-term assets $1.6bnLonger-term assets $67m
What it owes, and who funded it · $1.6bn
Short-term liabilities $662mLonger-term liabilities $28mShareholders' equity $926m
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $662m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $28m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Gitlab Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.2%
year over year
R&D spending
28.8%
of revenue
Days sales outstanding
89 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in systems software
Last 12 months unless stated GTLB TENB DLO S SAIL CVLT Median
Revenue, last 12 months $1.1bn $1.0bn $1.1bn $1.1bn $1.2bn $1.3bn $1.1bn
Revenue growth, last 12 months 23.0% 9.9% 46.6% 21.1% 20.1% 14.3% 16.9%
Revenue growth, 3-year average 28.1% 12.0% — 28.0% — 16.2% 16.1%
Revenue growth, latest quarter 21.3% 8.6% — 20.6% 16.8% 13.1% 19.6%
Gross margin 85.8% 78.1% 36.8% 72.5% 66.2% 81.3% 69.6%
Operating margin −8.5% 3.6% 20.1% −29.5% −18.9% 7.4% 3.7%
Operating margin, 3-year average −15.3% −0.9% — −37.1% — 7.5% 4.0%
Net margin −5.0% 0.6% 18.0% −31.0% −16.9% 6.6% 2.4%
Cash from operations / revenue 21.2% 25.8% 38.0% 5.2% 17.2% 21.0% 16.6%
Free-cash-flow margin 20.3% 25.3% 37.8% 5.1% 16.7% 20.4% 15.0%
Free-cash-flow margin, 3-year average 11.5% 23.6% — 3.8% — 21.3% 18.8%
Stock pay / revenue 21.8% 17.2% 2.2% 29.3% 20.4% 10.6% 8.2%
Change in share count 4.2% −1.9% −1.1% 3.4% — −4.9% 2.7%

Median of all 37 companies we cover in systems software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

37 systems software companies
Measure Company Peer median Rank
Revenue growth Growth 23.0% 16.9% 13 of 37
Change in growth rate Growth -1.9pp -0.3pp 25 of 37
Gross margin Profitability 85.8% 70.4% 3 of 32
Operating margin Profitability -8.5% 3.8% 23 of 34
Net margin Profitability -5.0% 2.4% 23 of 37
Free-cash-flow margin Cash generation 20.3% 17.3% 15 of 34
Stock pay as % of revenue Cash generation 21.8% 8.5% 29 of 36
Change in share count Balance sheet 4.2% 3.1% 21 of 34
Days sales outstanding Balance sheet 89 days 72 days 21 of 29

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Subscription and Software $865M 90.5% ▲ 28.1%
Subscriptions $568M 65.7% ▲ 23.9%
Subscription Software As A Service $296M 34.3% ▲ 37.0%
License Professional Services and Other $90.5M 9.5% ▲ 7.7%
Licenses $68.9M 76.1% ▲ 0.7%
Professional Services and Other $21.6M 23.9% ▲ 37.9%
Geography
Region Revenue Share YoY
United States $787M 82.4% ▲ 27.3%
Europe $146M 15.2% ▲ 18.7%
Asia Pacific $22.2M 2.3% ▲ 24.0%

From Gitlab Inc.'s 10-K filed March 17, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.4B
Institutions reporting
397
Shares held vs prior quarter
▲ 4.1%
Positions opened / closed
90 / 63

Top buyers and sellers, Q2 2026: 224 institutions bought and 184 sold ; the biggest buyer was Atreides Management, LP (+3.4M shares) and the biggest seller Champlain Investment Partners, LLC (−3.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
AQR Capital Management LLC $310M 10.3M 7.0% ▲ 19.3%
Vanguard Portfolio Management LLC $272M 8.9M 6.1% ▲ 2.7%
Blackrock, Inc. $270M 8.8M 6.1% ▲ 2.4%
Primecap Management Co $235M 7.7M 5.3% ▲ 5.3%
Vanguard Capital Management LLC $197M 6.5M 4.4% ▲ 6.2%
D. E. Shaw & Co., Inc. $128M 4.2M 2.9% ▲ 249.3%
Impactive Capital LP $127M 4.2M 2.9% ▲ 6.2%
Atreides Management, LP $103M 3.4M 2.3% New
Disciplined Growth Investors Inc $101M 3.3M 2.3% ▲ 263.7%
Goldman Sachs Group Inc $94.9M 3.1M 2.1% ▲ 50.4%
Menora Mivtachim Holdings Ltd. $90.8M 3.0M 2.0% New
Neuberger Berman Group LLC $88.5M 2.9M 2.0% ▲ 76.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Gitlab Inc.'s complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $500,854 5 trades by 1 insider, last 12 months Insider sales History → $173M 54 trades by 6 insiders · 75% under pre-set plans
Net ▼ $172M net selling
Insider Date Trade Shares Price Value
Sijbrandij Sytse Director October 19, 2026 Sell pre-set plan 42,741 $53.52 $2.3M
Sijbrandij Sytse Director October 19, 2026 Sell pre-set plan 73,459 $53.13 $3.9M
Staples William Chief Executive Officer September 30, 2026 Buy pre-set plan 2,677 $46.62 $124,802
Sijbrandij Sytse Director September 28, 2026 Sell pre-set plan 43,545 $46.31 $2M
Sijbrandij Sytse Director September 28, 2026 Sell pre-set plan 90,995 $44.83 $4.1M
Sijbrandij Sytse Director September 28, 2026 Sell pre-set plan 295,460 $46.08 $13.6M
Padisetty Sivaprasad Chief Technology Officer September 28, 2026 Sell pre-set plan 12,900 $44.83 $578,307
Padisetty Sivaprasad Chief Technology Officer September 28, 2026 Sell pre-set plan 33,095 $46.05 $1.5M
Padisetty Sivaprasad Chief Technology Officer September 28, 2026 Sell pre-set plan 5,920 $46.32 $274,214
Sijbrandij Sytse Director September 25, 2026 Sell pre-set plan 281,121 $47.25 $13.3M
Sijbrandij Sytse Director September 25, 2026 Sell pre-set plan 424,369 $48.08 $20.4M
Sijbrandij Sytse Director September 24, 2026 Sell pre-set plan 842,084 $48.55 $40.9M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Gitlab Inc. disclosed in the last 12 months; 3 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded June 11, 2025, filed July 8, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (partial), $1,001 - $15,000, traded June 3, 2025, filed July 8, 2025
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 30, 2026 estimated from the company's past filing pattern, not announced

  • September 1, 2026
  • June 2, 2026
  • May 11, 2026
  • March 3, 2026
  • December 2, 2025
  • September 3, 2025

Recent SEC filings

Data status

When each part of this page on Gitlab Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Gitlab Inc. in brief

What does Gitlab Inc. do?
Gitlab Inc. is a US-listed company in the systems software industry. Its financial year ends in January.
What is Gitlab Inc.'s stock ticker?
Gitlab Inc. trades under the ticker GTLB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Gitlab Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Gitlab Inc. reported revenue of $1.1B, 23.0% higher than a year earlier, according to its SEC filings.
What is Gitlab Inc.'s free cash flow?
Gitlab Inc.'s free-cash-flow margin is 20.3% of revenue over the trailing twelve months, ranking 15 of the 34 systems software companies we cover.
Who are Gitlab Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are AQR Capital Management LLC, Vanguard Portfolio Management LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Gitlab Inc.'s market cap?
On November 2, 2026, Gitlab Inc.'s market capitalisation was about $8.8B and net debt of -$226M. Market figures come from third-party market data and may be delayed.
Who are Gitlab Inc.'s competitors?
In our Systems Software peer group, the companies closest to Gitlab Inc. are Tenable Holdings, Inc., Dlocal Ltd, Sentinelone, Inc., Sailpoint, Inc. and Commvault Systems Inc. The side-by-side comparison below sets their revenue, margins and growth against Gitlab Inc.'s.
Are insiders buying or selling Gitlab Inc. stock?
Over the last 12 months, Gitlab Inc.'s directors and officers reported 5 open-market purchases and 54 sales on Form 4. The insider trading page charts every trade.
When is Gitlab Inc.'s next earnings date?
Around December 1, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Gitlab Inc. announces its own schedule.