In the most recent quarter, GitLab has surpassed Wall Street’s estimates, demonstrating the significant impact of artificial intelligence on enhancing companies’ quarterly performance.
Financial Highlights
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Narrowed Loss: GitLab reduced its loss to $36.5 million, or 23 cents per share, for the fiscal Q4, compared to $38.7 million, or 26 cents per share, in the previous year.
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Earnings Beat: Adjusted earnings reached 15 cents per share, exceeding analysts’ projections of 8 cents per share.
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Revenue Growth: Revenue surged to $163.8 million from $122.9 million, surpassing analysts’ expectations of $157.9 million.
CEO Insights
CEO Sid Sijbrandij emphasized that integrating artificial intelligence throughout its software development lifecycle enables customers to enhance efficiency in planning, building, managing, and delivering software.
Future Projections
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Q1 Outlook: GitLab anticipates revenue between $165 million and $166 million with adjusted losses per share ranging from 4 to 5 cents. Analysts were forecasting revenue around $161.7 million and adjusted earnings of 6 cents per share.
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Fiscal 2025 Forecast: For fiscal 2025, GitLab projects revenue between $725 million and $731 million and adjusted earnings per share in the range of 19 to 23 cents. Analysts had anticipated revenue of approximately $730.2 million and adjusted earnings around 35 cents per share.
These results reflect GitLab’s commitment to leveraging artificial intelligence for sustained growth and performance improvement in the software development industry.