Overview

* GitLab ( GTLB ) fiscal Q2 revenue rises 29% yr/yr, beating analyst expectations, per LSEG data

* Adjusted EPS for fiscal Q2 beats estimates

* Company announces CFO transition, with James Shen as interim CFO

Outlook

* GitLab ( GTLB ) expects Q3 revenue between $238 mln and $239 mln

* Company anticipates FY 2026 revenue of $936 mln to $942 mln

* GitLab ( GTLB ) projects Q3 non-GAAP operating income of $31 mln to $32 mln

* Company sees FY 2026 non-GAAP EPS of $0.82 to $0.83

Result Drivers

* AI-NATIVE PLATFORM - GitLab ( GTLB ) attributes 29% revenue growth to its AI-native DevSecOps platform, enhancing human-AI collaboration

* CLOUD-AGNOSTIC PLATFORM - Sustained growth driven by cloud-agnostic, model-neutral DevSecOps platform with comprehensive AI capabilities

* OPERATING MARGIN EXPANSION - Significant year-over-year operating margin expansion reflects improved operational efficiency

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $236 mln $227.20

Revenue mln (26

Analysts

)

Q2 Beat $0.25 $0.16

Adjusted (25

EPS Analysts

)

Q2 EPS -$0.06

Q2 Gross 88.0%

Margin

Q2 90.0%

Adjusted

Gross

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 24 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for GitLab Inc ( GTLB ) is $60.00, about 20.5% above its September 2 closing price of $47.69

* The stock recently traded at 55 times the next 12-month earnings vs. a P/E of 58 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)