GitLab (GTLB) 5 Dec 242025 Q3 Earnings call transcript

Good day, everyone, and welcome to today's GitLab Third Quarter Fiscal Year 2025 Conference Call. [Operator Instructions] Please note, this call is being recorded. I will be standing by should you need any assistance. And it is now my pleasure to turn the conference over to Kelsey Turcotte.

Good afternoon. We appreciate you joining us for GitLabs Third Quarter Fiscal Year 2025 Financial Results Conference Call. Brandy, Robins, and Staples, our appointed Cincy the Chair our are CEO. Brian Board; CFO; me our Executive Co-Founder of newly With and Bill

our introduce afternoon's fourth the fiscal provide we this and results will XXXX. During commentary guidance call, quarter on third year for quarter and Bill,

earlier safe earnings I'll our our both statements like on Relations today, X statement. I of to release statement direct available we begin, Investor harbor cautionary forward-looking Before you and website. regarding our in presentation issued cover the are the which would to the of Page under of section

The within factors presentation release that the Private Securities meaning discussion in Act. differ a other our risks, cause expressed of to of results the certain and earnings Reform could from Litigation and statements uncertainties, forward-looking assumptions those include any

As of is presentation governed by call language. will be and customary, content this today's the

unusual measures. management Sytse turn additional non-GAAP call financial periods In measures be release the directly discussing of for and comparability refer addition, certain referenced. certain nonrecurring now presentation call, GAAP materials the will the these Please during Sid? These Sijbrandij. non-GAAP we most regarding to impact our the measure. I'll financial or earnings financial items today's exclude believes reconciliations non-GAAP to and to over information comparable that measures the

of we seat Board. and couldn't afternoon, as also numbers, Thank This will to you Staples continue for GitLab CEO on joining Bill to the of before GitLab Chair be the Board, me more as take team. I excited He I us the Executive today. on And will Bill GitLab. the to get a I'll succeed welcome announced

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year-over-year. increase consistent $XXX responsible reached our basis This growth, non-GAAP to year-over-year is with XX% an points increased revenue operating XX.X%. our margin over to quarter million. Third And commitment X,XXX of

to DevSecOps to cybersecurity platform organizations CIOs our pace well. complex and This is need resonates software mandates, so CISOs accelerate to customer challenges. of why development expectations. to all From competitive the CTOs, this, of facing and And are threats remain despite increasingly respond compliance ever-increasing

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Gen started AI in AI-powered innovations we Pro. creation, GitLab code with offer which Duo

Duo foundation we pump autonomous software leader. life we earlier the evolution dual AI everyone be for in the agentic, cycle. is going that we industry We see in enterprise, where to be software AI agent and based autonomous Agentic end-to-end is reactive. will where the and development preview introduction AI the of AI development the next anticipate expanded With rather of proactive shared workflow. An intend will be year. This GitLab to we the a than and this of

I'll partners dual and creating for Now and as ultimate, include integrated and security we're on there demand move are from These Dedicated enterprise. but Ultimate I discussed, the AWS. success GitLab seeing, to like interest compliance, multiple drivers

reached Ultimate has total XX% now of our ARR.

from During daily costs a from to the moved quarter, Prior to world the job to up by XX% GitLab cutting projects indeed increasing hardware indeed upgrade, and in site premium the XX%. to the #X GitLab, pipelines by of Ultimate. thousands legacy migrated competitor

software customers In QX, in management, CICD Sourcescope into the tools earlier security, shift of they a multiple stages consolidate X can creates platform chose embed security in paradigm and for development. how Ultimate to Ultimate

written. security code We and checks the integrate being guardrails is as also seamlessly

have USAA that customers. from and found can month response able and X our X is study and longest-standing the security compliance of their of Forrester X to recent Our security left. customers boost Ultimate, developers and setting incident to scans been their enforcing hour. by decrease shifting we efficiency times ultimate productivity With

chain to global platform's advantage with to in stores upgraded of suite XX In take compliance XX,XXX supermarket large and of features. addition, full a Ultimate our countries security

day single to save on software They attracting to for while customers million developer platform reduced all-in-one a GitLab also per visibility and to per With their also tasks chain Group million facilities. a costs asset they [indiscernible] enterprise per by year. $XX increase tool management provider and of us new with Dave told manual minutes projects. security Ultimate across XX plans increasing security like is Ultimate, complaints expect and $XX and consolidating chose

in we customers. accurate our generally delivers the exploitable Advanced all uses quarter, of proprietary our technology a detection X fact, for Ultimate. SaaS of engine acquired powered identify QX, is to Advanced SaaS In In This vulnerabilities first-party XX purchased more code. largest third customers ultimate first with in new by available acquisition all order results. top the It became oxide. GitLab

public our reliable Dedicated sponsor and end-to-end tool GitLab with tools for highly agency So am establish Management contributed leverage General chain developers floor new costs achieve manager, provides which platform, dedicated business. dedicated compared time free scanners, regulated overhead be the platform. the remove our burden or for great compliance we dedicated need by consolidation, GitLab, back with to demand largest Dedicated, a momentum world's of want a our false into the selected unlike saying security U.S. have purchase positive standards. Enterprise our descopatfon. Services compliant to record from industries, sort and designation quarter security must the maintenance, give on FedRAMP, is integrating Hub to Dessau while they a the in building a asset continues have value customers experience and point quicker performance don't to solutions. GitLab with Ultimate government. in for for that noise Dedicated will development infrastructure software in-process of And developer process. Blackstone the also fully Dedicated expectations highly to advanced finish and Work a to through dedicated is results. and compliance managed time hosting reduce for The teams innovation, an for exceed FedRAMP themselves through sector to also is customers ensuring hyperscaler this all This platform partner factory Gilad thank a purchase and for for visibility. multiple can the teams SaaS and driving building Smartsheet built natively choice with stand-alone will high pleased because are maintaining other alternative FISMA moderate. I reduce market. I to comes Administration ultimate by while is security you.

our to their trust placing to for their I'll us support customers to mission And our and turn in partners over finally, for it with the Brian. members to team First, our values wider community. GitLab and for and living our that,

which in least customers ARR with in non-GAAP and million, year from particular, delivered Sid, of of deliver of record prior our increased XX% larger We of this the revenue total to we now QX. pleased cohort ARR, of an in with expectations. we at momentum against results, a the QX X,XXX of $X,XXX, plus reached ARR saw customer reached our you, XX% our XX% which X,XXX. Bill. which FY QX welcome, and and quarter margin. We In built profitable Thank increase $XXX off contributed monitor commitment over really our 'XX to performance I'm and $XXX,XXX operating QX continue QX exceeded have growth. we

in As Ultimate, continues a X scale, cohort investments this quarter. deals the significant top make to our including in

included We are first deals QX, customers seeing GitLab land Duo. also new with In that X-, this X-figure included order Duo.

XX%, QX DBNRR net approximately at approximately XX%. dollar-based yield increased we customer or DBNRR of tier front, of a driven upgrades by with expansion expansion approximately the combination was at quarter the seat retention On ended XXX%. and rate, XX at a

last your to CRPO $XXX.X QX, again, over to total saw continues million XX% operating the $X.X these So revenue our multi-quarter do we to XX.X% team translated X.X% to in very year-over-year in of million -- a we look best-in-class XX% basis This is job for dropped I grew operating while more million, leverage. a to compared and of margin gopre considerable grew year. Similar metrics we at The Dedicated of gross period. year-over-year execution, Non-GAAP $XXX.X a million driving on focus an operating QX GitLab helping grew The increase non-GAAP team's to margin non-GAAP RPO a increase compared we was than encourage the year-over-year. investors $XX.X with drive of this X,XXX total XX% with efficiencies to margin. SaaS combination year-over-year. traction in outperformance represents points gross significant income momentum. are operating revenue our QX last maintain quarter. to to of bottom record QX good now year. in which, to Once of is the line, getting XX% was XX%

increasingly our FY to negative cash compared the prior while negative period. Cash $X to the conclusion efficient, $X.X agreements tax Cash authority. in and we IRS in flow pricing from of also the operations $XXX operational QX As operating year million compared negative the from year flow 'XX was the free invest in Netherlands prior becomes scale, quarter efficiencies. adjusted land allows growth, model or in expand the was period. $X.X future million advanced bilateral the which million reflects APA, driving both to us million activities with third Dutch and

the which the IRS. we addition quarter $XXX an to negotiations, from million the the $XX to be have payment resulted to reserved million tax to third additional authority, of In APA Dutch paid

of it have we an QX. expect finalized in this petitioned abatement to Although for we be amount,

Now turning to guidance.

million For expect $XXX the fourth representing to of 'XX, to we XX% FY of $XXX of year-over-year. rate growth million, quarter revenue XX% total a

share $XXX and million income outstanding. non-GAAP income average We $XX expect $XX to non-GAAP per of expect net diluted assuming operating weighted to we a of million shares $X.XX million. $X.XX,

For approximately representing FY year-over-year. we the a to total of $XXX million, expect full growth rate revenue of year 'XX, $XXX XX% million

expect million on net diluted would $X.XX $XX operating non-GAAP of a $X.XX, income like to to million per weighted income expect We non-GAAP $XXX update an of to share shares $XX we assuming million, and a GH. I average outstanding. provide Separately,

QX China Our in venture. to compared million $X.X non-GAAP 'XX, year. of Jio joint expenses last related to million In QX $X.X FY were

remains Our goal deconsolidate GH. to

shareholder expenses software platform million security security. And to approximately and many Thus, when it was or on Jio of over close experts we customers all for our turn occur. quality GitLab cannot of predict today. improve to operations demand moderate coming intense weeks. build value. QX we look long-term a market summary, this purposes, when that, may software, This with Thank on likelihood to seeing better build ripe will I'll innovation a in and single $XX is both the the ability large million teams for by you joining customers I'm driven With -- to of team and the 'XX drive to consolidation, another leading together prioritize year, for for reduce strong is year. and FY allows confident for potentially Kelsey collaborate, In timing a the However, our we forward time who forecast to this related strong cycle Q&A. and focused brings modeling you that $XX AI-powered over to to is is compared quarter in platform a times. DevSecOps demand The our there help developers, last

you nine. Thanks, join via Brian. the star you'd please raise you to like ask press At time, if question, this or phone, if a function hand use may

you Ikeda America. X question first of take also question X and of Koji to We follow-up. our We'll request that Bank yourself from limit

you high that We here. the you everything as on GitLab. Real I question you've much DevSecOp wanted industry CEO Thank wish level said, ask for best done of the your journeys from before a actually to here. for very

and to Bill, you And meet Brian. great

Okay.

question, game guidance Brian, the your first of midpoint a and here, by you is this So beat numbers just X.X%.

And quarter so what the out stood this from maybe less had posture that year? this above conservative guidance was you earlier from that

the question. Thanks, Koji. appreciate I

across in had best and XX% in strong ARR at perform board. executed remarks, we've now. a I It's point out fronts. the of bookings. to XX% was best-in-class, in continues across well quarter well. A remains quarter was company that of this the This couple We prepared retention is total sec greater XX%. strong CRPO things quarter like was the said I'd all the of dollar than pub history. Ultimate really XXX% Net to

percent is had thing mention last XX and quarters. so the we I'll in quarter last as And contraction of the to renew. was churn best It available a

every performed driven aspect by of of the so the well, enterprise. business And really really the strength

happy really quarter. the how So ended we

here. And it. at about quarter revenue for Got Fourth follow-up the guide guidance midpoint. a looks XX.X%

So perspective, the anything next larger XX as thinking from than next is to growth about anything we'll meaningfully the rate call. the law would months, exit cause we give that of should there. From year's about that we're there numbers, next a be guidance guidance other slow thinking on

note of time these talked agile planning. factors to dual We that take different the about, we've dedicated SKU have that just It's number a things important growth enterprise ramp. to

$XXX for revenue, a takes make while impact. meaningful It XX%. roughly have growing in them a to You million

Koji. you, Thank

AI anticipate to what of an going to on talk I Next bit guess when and and in that astounding say Bill, copilots sort as how the comes playing like agents of do said, And And next of to wanted mentioned assistance you architectures? little Singh looking Sanjit is -- genetic move to sort it congratulations you category phase and the a of of parallel copilots? career goes it architecture does of GitLabs to be you strategic in to how of this Stanley. I sort workflows wanted going the do to with category. And Is to and the genetic about forward next. advantage the sort question congrats, in you conjunction and I Morgan that code subsume be what out? think this

that in going are for parallel. question. to Thanks exist Both

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Our the so is all much really good. really, AI from all deploying. important anymore. with are what's the And really application planning models state-of-the-art does everything not models The to way

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You the right give context. them

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about of great deployments It's GitLab. part are already GitLab, what's So already existing functionality.

Agentic to the So that action. the can look into AI trigger

easier agents XXx. strategic well. our not that's end-to-end AI platform. for It's as cycle faster things the for by only easier the makes again It things humans, advantage. makes So It

And us as I'm are. here sure a I'm AWS a follow-up, number Revit. in of

you well? gate. out AWS of the Cloud? like -- up there GitLab sounds commercially, for in as the self-hosted with limited the does think offering you You that driver is, at may question be least Do ultimately can And a big SaaS guess I and made it it's announcement with pretty do that integration offering a business a show to

from very, just were We're mentioned super Garmin not the in this main a exciting. that at excited as with it keynote Gara GitLab was partnership us excited. very it's about are partner We And super, AWS.

got announcement. Our more We visits joint booth customers X,XXX to our day are of the excited. than the

So incredible response.

customers. wait closed to is who participants We yet. a joint GitLab and is AWS customers right dedicated to time our customers. beta remember self-managed better to we it's to It's our accessible get beta, bring we might for dedicated, But that on for that's want our a AWS. it things don't line are. to launched of lot can't but bring up -- in joint offering, to are that where lot now, have And And ultimate you get offering make a

Hedberg me. next question RBC. to Can SP-X hear of goes Matt guys. Thanks, you

can we now. Yes,

Great. Okay.

with of all, look done everything a with detail congrats you. on greater pleasure just working the GitLab. We It's on here. And for to been in role. you real work Bill, First you've congrats forward to

a XX with of lot certainly good exceptionally that So to I I ago? good doing are macro could are in. a seems buying you first question? of you days a upsell, guys It just presented lot a improving dig business. guess, there's that just Do details you with demand start of order us get lot maybe well A here. sense trends since like

is this Matt, Brian.

on Let that. me start

talk of And macro, the so around talk off and sort me specifics let a start GitLab. high about level then bit little I'll and

And seeing macro, the we're are so what on seeing. companies other

that we And changes People the GitLab there. buying so value no for deliver. are

And quick. period so is the payback pretty

resilient So the we're to From as it a all say perspective, specific across that mentioned, a really a I was would GitLab quarter board. good there.

the we're record, consolidate seeing and driving with the And a platform of system platform that's are that people wanting so I to what the to and the a payback, value think growth. and

could up planning talk don't it. good you script, that, about general a in lot success? I one, seeing you you're but things we about hear Got then days. much little of module. some it think too these the I'm maybe continue to seeing curious, enterprise replacements bit a And came agile where or your Are

there. Just an curious on update sort of

Yes. Thank kind for so you and much, thanks your words.

reliance customers in still that of market example, its part we early to largest DevSecOps really development the planning, to they're allow of agile Atlassian technology enhance this this doing and GitLab operations for the a Bamboo will products league and sports functionality. But Enterprise opportunity, planning this offering is leverage part effort of will professional across cycle, enterprise their on streamline essential Jira will stack, reduce and further going stages planning and as enhance them and American of We're broader part an efficiency a the life So amazing. to their the GitLabs for like North it's important and Agile is teams. Ultimate. And

from Great. Sandler. Rob Piper

best and your said And Great. you family. wishes to

about pricing Given some metrics, Duo moving are developer more tangibly, you're And the gains full is just that getting obviously some we'd then you're the guess, Are and of exciting adding these just that from with how seats as to talked guys seats? sense. what to Duo process love yield I just you seeing conversations productivity price forward? a thought you near full customers around price, and get

year Yes. Thanks, landed And of -- we I deals. of with Jon. X the appreciate Duo We're very lot that like of of quarter. a deals, makes Duo, it. And the over sort for net it's This you said, attached up ARR, lot ARR the total I at question. all look a for the seeing where XX% happy top a attached Brian. had had In they if deal, we to the in for duo is dual deals very X. when to itself net

number and are gains people Duo the deploying And to so up a productivity XX%. of seeing

the customers extremely been has so been from Great. the feedback we've getting And positive.

you the any seats, in on are things, of guess, articulated about given earlier. side guys of terms the comment how seat productivity gains I And customers just thinking

Yes.

on our customers, we're base so at is what sort and they're that tail broadly way this when I for talking seeing long and think some of of seats, you we -- the customer have of -- the implementation. look obviously, a

buying a when of And they come and approach so it their buying Duo, on doing buying get rolled out implementing. when to lab they're most users. for more they're But of they're

out XXX that to to a customer a organization. will seats, say the groups over time XXX of different within so they'll And subset roll buy

Great.

Fishbein goes question Joel to Next at Truist.

the asked You ask new say X Sanjet on sort as that I'm the I are are there, on said, the the Bill, that to something role. out market's which that people earlier, going of X things -- well. tape -- is was And happening was best saturated. skeptics congrats with

we're part vendor X and acceleration go says that's this room one. And from your inning how not think is, standpoint. much do of consolidation we true. to revenue have of of Obviously, how that tools? Number growth as that what you Number in terms -- that, much do disparate these that in,

Yes. Thanks DIY are today. but of majority vast it's that. for point solutions think the best-in-class of solutions, is we have they kinds DevOps they that, still so-called believe have early They that Joe. We really enterprises, part all the and vast, integrating on hard

you our revenue. -- you can And know

GitHub, means when can it's first You about make we're estimate your look market. the would billion at say GitHub's here. market, an And $XX we're is a revenue. inning whatever estimate the a And early I you for that inning. that in very in

month an replace, becomes to and able better We're we point of we have to implementation. can So the and this the so market. And better, result see that they them we're every out these of about we're able replacements, that's solutions. more every why time excited solutions we replace make those the more take when better point more

follow-up. business. but Paris said margins quick always know That's of the growth going side I'd how thinking great. And we prioritizing margin know historically on profitability, over real Brian, Great forward. to just the were I love about you've a outperformance

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thing to #X do we'll responsibly. Our grow, that is but

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what X,XXX had XQ improvement. 'XX XQ And that's 'XX, you quarter this we over basis from to so saw points

Rangan Goldman Kash to Sachs. goes Next at question

Thank you the at as more you fantastic, if the imprint is very would really the as And what brian. it GitLab? did somebody full you going to very -- at your go you And before. company board. congratulations. And detail, and I Bill, playbook getting see to share experience to tech insights in said you hellow Wondering more the do do into unique about business said, who you I of you that could see granted formidable much. know have given to in in see still you're realize it's all bring what yourself role. But the you how your best. companies own the be can you on GitLabs what your potential like other of immerse

Kash. building you, mean, career what really GitLab I entire and developers my perfect. be nearly a you said respect if at is and of fit spent narrative it I've wouldn't for look who the am software and I really part and for be just of to ton the this numbers, thrilled of have Thank to has the done team want listen to a here. GitLab. I

speed directly an business. their of their the of their our software, GitLab and partnership ahead software just strategic that a believe is heart improvements we customers, the For security drives and because development to also us. increase direct opportunity them sit quality, and help the of process we there's I enormous the

the -- time priority first as in that the the all our world rapid transform to and is a better I you partners, including the Dudad trends, software to immediate GitLab in to advancements enormous, be our believe at look lead more play all We recent excited company. ability role and the And central AI, just technology described So our members serve world for inning. can team I is it I as how CEO. spend transformation. Really of customers, around learn GitLab unlocking couldn't with to can as my

for the thanks So question.

Goodbye. X Great.

at back Next you question said your Shane good recovery Great. goes Again, a welcome And outlined future Baird. and future. tax vision the interact and here, Bill, GitLab. at Wishing to in you P-X great healthy it's day swift for the to you Kothari

heard also exciting. you to sounds about Of workflow, gante look excitement Sid you. course, super mentioned from and from about the course, we'll Duo more that of forward and all hearing AI Andof

of hit on adoption. GitLab kind Ultimate, ARR customer of total the milestone, Just a reflects big strong that's XX%

Dua you have did course, significant Enterprise, Of driving upsell. talked it's about

any level, had security, said, course, high in of on which, mostly before, terms of like a like compliance, curve overall a adoption inflection what features tied to Just challenges. integrated curious heard of you steps. And seeing slower it's we've kind always are just for organizational guys a

Just on driving you color which and evolving help some anything factors, us is is could acceleration? changing this which primary provide now

better. to give like becoming offering. And Oxide things humans over the able Ultimate Yes. inform for think make a product to we they doing better false is And X context SaaS don't about is product happening. features our work the to are fewer much offering what helps We remarkable well. humans, AI also was GitLab that have to better acquired will advanced on not doesn't going but to AI turn the what's do SaaS launch. -- its have I it can focus into matters positives, better so really that matter, and thing and quickly And that the time, really advanced were

And it So kind compliance and the into whole of acquisition X time. We'll better and integrated both over humans workflow. better. AI helping advantage to an security have make the is it's making such the that's

able more it's the of X question to go more SP-X big We are be projects, now integrated. secure totally Ultimate. that to or see to Great. Thanks. a we to time reason for that's customers going buy -- efficiency. for more And customers if We're just are

Next MacWilliams Ryan up . is Barclays. from

cases adoption between this enterprise AI of their terms rollout? -- Sid, developer Like any Pro from your use as in in and a now customers adoption your today And at go then ready stand and done initial do they that's have think tools? XXXX you throughout familiarize where they of dual story broader themselves point? tool Duo overall air to organization? are like test ROI just more differences For to Or with the

Yes.

candidate. on a Ultimate if using Enterprise that the customer they're really that end-to-end, is we're what is GitLab and into bought GitLab is So better seeing Duo

So amazing that's Sco. been to

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ahead. Go

best Kash all to Michael stage saw just hear to earlier. at anything Moving I and think fit, on Bill, out. to miraquestion of was about right of your waiting new more Michael, on the asked be Turn product at in Yes. wanted sort rolling you on, the it the the terms you the I Wells Fargo I what and for Certainly, your wishing but really GitLab maturity, the useful him notification. from thinking would efforts, to sorry. the ask just made of what the innovation thoughts experience perspective fit that -- is

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QX us, 'XX a evening. joining once for FY our presentation. and Thanks, Sid. concludes This have earnings all you again Thanks to of great