European Investor
04 Mar 2025, 12:48
GitLab reported strong financial results for the fourth quarter and full fiscal year 2025, with total revenue reaching $211.4 million for Q4, a 29% increase year-over-year, and $759.2 million for FY 2025, up 31% from the previous year. The company showed significant improvements in profitability, with a GAAP operating margin of (7)% for Q4, compared to (21)% in Q4 FY 2024, and a non-GAAP operating margin of 18%. Operating cash flow for Q4 was $63.2 million, and non-GAAP adjusted free cash flow was $62.1 million.
For the full fiscal year, GitLab's GAAP operating margin improved to (18)% from (32)% in the prior year, while its non-GAAP operating margin increased to 10% from (0.2)%. The company generated $120 million in non-GAAP adjusted free cash flow.
GitLab continues to see strong customer growth, with customers generating over $100,000 in annual recurring revenue (ARR) increasing by 29% to 1,229, and customers with over $1 million in ARR growing 28% year-over-year. The company's dollar-based net retention rate was 123%.
The company announced key leadership changes, with Ian Steward joining as Chief Revenue Officer, effective May 3, 2025, and the appointment of David Henshall to its Board of Directors. GitLab also launched GitLab Duo Self-Hosted and announced the private beta of GitLab Duo Workflow.
Looking ahead, GitLab expects Q1 FY 2026 revenue between $212 million and $213 million and full-year revenue between $936 million and $942 million. Non-GAAP operating income for FY 2026 is projected to be between $109 million and $114 million, with non-GAAP diluted net income per share expected to range between $0.68 and $0.72.
For the full fiscal year, GitLab's GAAP operating margin improved to (18)% from (32)% in the prior year, while its non-GAAP operating margin increased to 10% from (0.2)%. The company generated $120 million in non-GAAP adjusted free cash flow.
GitLab continues to see strong customer growth, with customers generating over $100,000 in annual recurring revenue (ARR) increasing by 29% to 1,229, and customers with over $1 million in ARR growing 28% year-over-year. The company's dollar-based net retention rate was 123%.
The company announced key leadership changes, with Ian Steward joining as Chief Revenue Officer, effective May 3, 2025, and the appointment of David Henshall to its Board of Directors. GitLab also launched GitLab Duo Self-Hosted and announced the private beta of GitLab Duo Workflow.
Looking ahead, GitLab expects Q1 FY 2026 revenue between $212 million and $213 million and full-year revenue between $936 million and $942 million. Non-GAAP operating income for FY 2026 is projected to be between $109 million and $114 million, with non-GAAP diluted net income per share expected to range between $0.68 and $0.72.