GitLab Q2 Revenue Up 21%, Guides FY27 to $1.13B; CFO Adds Principal Accounting Officer Role
GTLB has more than doubled off its 52-week low of $18.73.
Summary
GitLab reported Q2 FY2027 revenue of $286.3M (up 21% YoY) with non-GAAP operating income of $42.6M, and guided FY27 revenue to $1,129M-$1,133M. CFO Jessica Ross will also assume the principal accounting officer role following CAO Simon Mundy's resignation.
Key Events · Earnings and Guidance · GTLB
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Q2 Revenue Beats with 21% Growth
Total revenue of $286.3M, up 21% year-over-year, with non-GAAP operating income of $42.6M (15% margin) versus $39.6M a year ago.
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FY27 Guidance Raised to $1.13B
Full-year revenue guidance of $1,129M-$1,133M with non-GAAP diluted EPS of $0.85-$0.87; Q3 revenue guided to $281M-$283M.
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Net Retention Accelerates to 117%
Dollar-based net retention rate reached 117%, a sequential acceleration, while total RPO grew 16% to $1.2B and cRPO grew 20% to $744.7M.
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3.5M Shares Repurchased in Q2
GitLab repurchased approximately 3.5 million shares during the quarter, continuing its existing buyback program.
Analysis · GTLB · Technology
GitLab delivered a strong Q2 with 21% revenue growth to $286.3M and non-GAAP operating margin of 15%, while guiding full-year revenue to $1,129M-$1,133M. The quarter also showed accelerating dollar-based net retention at 117% and record gross bookings. The company repurchased 3.5 million shares during the quarter, continuing its buyback program. Separately, CAO Simon Mundy is departing effective September 16, with CFO Jessica Ross absorbing the principal accounting officer role at no additional compensation — a consolidation of financial leadership that removes a layer of oversight.
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At the time of this filing, GTLB was trading at $48.33 on NASDAQ in the Technology sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $18.73 to $52.38. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.