GitLab net worth is an exciting topic in the financial world. As one of the top players in the tech sector, its financial performance reveals much about its industry position.
Today, let’s delve into GitLab’s revenue, profitability, and overall growth to understand its place in the market. At Ando Money, we aim to offer an accurate and thorough breakdown.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | GitLab |
| Full Name | GitLab Inc. |
| Website | https://about.gitlab.com/ |
| Industry | Software Development, DevOps, AI-powered DevSecOps |
| Traded as | NASDAQ: GTLB |
| ISIN | N/A |
| Founded | 2011 |
| Founders | Sid Sijbrandij, Dmitriy Zaporozhets |
| Country/Territory | United States |
| Headquarters | San Francisco, California |
| Chief Executive Officer | Sid Sijbrandij |
| Number of Employees | Over 2,000 |
| Market Cap | €7.33 Billion ($7.9 Billion) |
| Total Assets | $1,376.3 million |
| Total Equity | $688.0 million |
| Revenue | $182.6 million |
| Net Income | $12.9 million |
What is the Net Worth/Market Cap of GitLab in 2024?
In 2024, GitLab’s market cap stood strong at €7.33 billion (about $7.9 billion). This valuation places GitLab among the top tech entities globally.
Its growth in revenue and operating margins are major contributors to its high market value. Comparing GitLab to other notable players in the sector provides a clearer picture of its place in the hierarchy.
Some related companies and competitors include:
- Atlassian
- Microsoft (GitHub)
- CircleCI
- Docker
- Amazon Web Services (AWS)
- Google Cloud Platform
- Red Hat
- HashiCorp
- JFrog
- PagerDuty
For more insights into the financial landscape, see our comprehensive list of the most valuable companies.
GitLab Financial Performance Overview
Revenue Growth and Trends
GitLab‘s revenue has grown consistently, reaching $182.6 million in the second quarter of fiscal year 2025, a 31% increase year-over-year.
The growth is primarily driven by its subscription services, with $163.2 million coming from its self-managed and SaaS offerings.
The remaining $19.4 million originates from license-based revenue streams, indicating a solid contribution from varied customer needs.
The company’s emphasis on DevSecOps has increased developer productivity and operational efficiency, which are key drivers of its sustained growth.
Operating Margins and Profitability
A significant aspect of GitLab’s financial health is its margin expansion. For Q2 FY 2025, the GAAP operating margin improved to -22%, a substantial growth compared to the previous year’s margin of -39%.
Additionally, the Non-GAAP operating margin was reported at 10%, a notable turnaround from the -3% of the previous year.
Operating expenses show the following breakdown:
- Sales and Marketing Expenses: These stand as one of the major costs but also indicate strategic investments in brand visibility and customer acquisition.
- Research and Development (R&D) Costs: GitLab’s R&D investments are substantial, underscoring its commitment to product innovation and AI enhancements.
- General and Administrative Costs: Efforts to streamline these expenses have further contributed to margin expansion and overall profitability.
Customer Metrics Impacting Revenue
Customer metrics play a crucial role in shaping GitLab’s financial performance.
The company boasts a 19% year-over-year increase in customers with more than $5,000 ARR, totaling 9,314. Furthermore, its high-value customer base, those with an ARR of >$100,000, expanded by 33% year-over-year, reaching 1,076.
The Dollar-Based Net Retention Rate stands at 126%, highlighting the company’s ability to retain and expand revenue from existing customers.
This figure is a strong indicator of GitLab’s growing market influence and recurring revenue streams.
Cash Flow Performance
GitLab reported an operating cash flow of $11.7 million and a non-GAAP adjusted free cash flow of $10.8 million.
This performance demonstrates GitLab’s ability to generate positive cash flow despite significant investments in growth and innovation.
Looking ahead, these positive cash flow trends provide a healthy foundation for reinvesting in strategic initiatives, ensuring the company can continue to innovate and improve its product offerings.
Fiscal Outlook and Financial Projections
GitLab’s financial guidance for Q3 and the full fiscal year of 2025 looks optimistic. It projects revenue between $187.0 million to $188.0 million for Q3 and a full-year revenue of $742.0 million to $744.0 million.
Additionally, the company forecasts a Non-GAAP operating income ranging from $19.0 million to $20.0 million for Q3 and $55.0 million to $58.0 million for the fiscal year.
These projections suggest that GitLab’s financial health will continue to improve, with solid revenue and profitability expected to be maintained.
Balance Sheet Health
GitLab’s balance sheet showcases total assets of $1,376.3 million against total liabilities of $688.3 million, indicating a healthy equity position of $688.0 million.
This positive balance sheet structure allows the company to maintain its growth trajectory while ensuring it remains financially stable.
Financial ratios derived from these assets and liabilities provide further insight into GitLab’s long-term financial health, highlighting its ability to leverage resources for sustained growth.
Innovations and Product Impact on Revenue
GitLab’s focus on AI-powered DevSecOps has been instrumental in driving its revenue.
The launch of GitLab Duo Enterprise has provided a comprehensive solution for development teams, contributing significantly to revenue.
GitLab has also made strides in AI code assistance, being recognized as a leader in the 2024 Gartner Magic Quadrant.
Impact of Industry Recognition and Compliance
Industry recognition plays a key role in GitLab’s financial performance.
The company has been acknowledged as a leader in AI Code Assistants and has achieved compliance with stringent federal standards like FedRAMP.
Such acknowledgments not only elevate its reputation but also contribute to customer trust and long-term revenue growth.
FAQs about GitLab
How has GitLab’s revenue grown in recent years?
Its revenue saw a 31% year-over-year increase in Q2 FY 2025, reaching $182.6 million.
What are GitLab’s main sources of revenue?
Its revenue primarily comes from subscriptions to its self-managed and SaaS services, along with license-based revenue streams.
What is GitLab’s Dollar-Based Net Retention Rate?
GitLab’s Dollar-Based Net Retention Rate is 126%, indicating strong customer retention and expansion.
How does GitLab’s customer growth impact its financial performance?
Its customer base has grown by 19% for customers with >$5,000 ARR and 33% for those with >$100,000 ARR, significantly boosting recurring revenue.
What are GitLab’s fiscal year 2025 financial projections?
For FY 2025, GitLab projects revenue between $742.0 million to $744.0 million and a Non-GAAP operating income of $55.0 million to $58.0 million.
Conclusion
As GitLab continues to strengthen its financial standing, understanding its finances provides key insights into its growth and position in the tech market.
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