NASDAQ$GTLB
GitLab · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
GitLab's Q3 2023 financial results were reported, demonstrating strong revenue growth and improved margins.
GitLab reported a 69% year-over-year increase in revenue, reaching $113.0 million in Q3 2023. The company's dollar-based net retention rate exceeded 130%, and non-GAAP operating margin improved significantly. GitLab also provided guidance for Q4 2023, projecting revenue between $119.0 and $120.0 million.
- Total revenue reached $113.0 million, up 69% year-over-year.
- GAAP operating margin was (50)%, while non-GAAP operating margin was (19)%.
- GAAP net loss per share was $(0.33), and non-GAAP net loss per share was $(0.10).
- Dollar-Based Net Retention Rate remained above 130%.
Headline financials
Revenue & EPS history
GitLab · Revenue · Quarterly
$113M
Revenue by segment
GitLab · $113M total across 2 segments · Q3 2023
- Subscription—self-managed and SaaS$98.4M+64.7%87.1%
- License—self-managed and other$14.5M+107.0%12.9%
Forward guidance
GitLab expects revenue between $119.0 and $120.0 million for the fourth quarter of fiscal year 2023. They also anticipate a non-GAAP operating loss between $(27.0) and $(26.0) million, and a non-GAAP net loss per share between $(0.15) and $(0.14).
Tailwinds
- Revenue between $119.0 - $120.0 million
- Non-GAAP operating loss between $(27.0) - $(26.0) million
- Non-GAAP net loss per share between $(0.15) - $(0.14)
- Approximately 150 million weighted average shares outstanding as of Q4 FY2023
- Guidance excludes stock-based compensation expense, amortization of acquired intangible assets, foreign exchange (gain) loss, and equity investment (gain) loss.
Headwinds
- Non-GAAP operating loss is still expected
- Non-GAAP net loss per share is still expected
- Actual results may differ materially as a result of many factors
- These are forward-looking statements
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+2.6%
Avg return
Earnings day
+5.4%
Avg return
5 days after
+1.6%
Avg return
30 days after
52%
12 / 23 earnings
Positive
+37.7%
Q1 2024
Best reaction
-23.4%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -7.2% | -7.9% | -15.5% | |
| Q3 2026 | -12.8% | -9.9% | -16.6% | |
| Q2 2026 | -7.3% | +2.7% | +0.0% | |
| Q1 2026 | -0.1% | +2.7% | +2.3% | |
| Q4 2025 | +11.6% | +0.2% | -24.4% | |
| Q3 2025 | +0.9% | -7.5% | -10.2% | |
| Q2 2025 | +14.7% | +12.0% | +2.9% | |
| Q1 2025 | -5.2% | -7.6% | +12.7% | |
| Q4 2024 | -19.7% | -21.3% | -22.9% | |
| Q3 2024 | +12.4% | +12.8% | +11.2% | |
| Q2 2024 | +1.7% | +6.5% | -9.4% | |
| Q1 2024 | +37.7% | +39.9% | +50.3% | |
| Q4 2023 | -23.4% | -16.8% | -23.6% | |
| Q3 2023 | +1.6% | +12.4% | +3.1% | |
| Q2 2022 | +16.6% | +30.2% | +12.1% | |
| Q2 2023 | +12.1% | +20.0% | +17.5% | |
| Q1 2022 | +26.4% | +12.8% | +48.3% | |
| Q1 2023 | +24.6% | +9.8% | +36.8% | |
| Q1 2020 | -7.1% | +2.0% | -15.0% | |
| Q4 2022 | +0.5% | +76.9% | +43.3% | |
| Q4 2021 | -5.4% | -15.9% | -21.6% | |
| Q3 2021 | -5.4% | -15.9% | -21.6% | |
| Q3 2022 | -7.1% | -14.8% | -21.7% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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