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Gitlab (GTLB)

Company Profile
GitLab is The DevOps platform that empowers organizations to maximize the overall return on software development by delivering software faster and efficiently, while strengthening security and compliance. With GitLab, every team in your organization can collaboratively plan, build, secure, and deploy software to drive business outcomes faster with complete transparency, consistency and traceability. GitLab is an open core company which develops software for the software development lifecycle with 30 million estimated registered users and more than 1 million active license users, and has an active community of more than 2,500 contributors. GitLab openly shares more information than most companies and is public by default, meaning its projects, strategy, direction and metrics are discussed openly and can be found within its website. GitLab values are Collaboration, Results, Efficiency, Diversity, Inclusion & Belonging , Iteration, and Transparency (CREDIT) and these form our culture. GitLab's team handbook, if printed would be over 8,000 pages of text, is the central repository for how we operate and is a foundational piece to the GitLab values. It is GitLab's mission to make it so that everyone can contribute. When everyone can contribute, users become contributors and GitLab greatly increases the rate of innovation.

Company profile

Ticker
GTLB
Exchange
NASDAQ
Website
about.gitlab.com
CEO
Sid Sijbrandij
Employees
Incorporated
Delaware
Location
California
Fiscal year end
Jan 31
Sector
Information > Data Processing, Hosting, and Related Services
Industry (SIC)
Services - Prepackaged Software
Microsoft • Oracle • Mobileye Global • Gen Digital • BlackBerry • Activision Blizzard • Vmware • Adobe • Ceridian HCM Holding • McAfee ...
SEC CIK
0001653482
Corporate docs
Underwriting Agreements
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
Gitlab Federal, LLC • Gitlab Korea Limited • Gitlab B.V. • Gitlab IT B.V. • Gitlab UK Limited • Gitlab GmbH • Gitlab PTY Ltd • Gitlab Canada Corp. • Gitlab France SAS • Gitlab Ireland Limited ...
IRS number
471861035

GTLB stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$56.60
Low target
$45.00
High target
$60.00
FBN Securities
Initiated
Outperform
$60.00
23 Jan 23
Piper Sandler
Maintains
Overweight
$58.00
5 Jan 23
RBC Capital
Maintains
Outperform
$60.00
6 Dec 22
Keybanc
Maintains
Overweight
$60.00
6 Dec 22
JP Morgan
Maintains
Neutral
$45.00
1 Dec 22
Latest filings (excl ownership)
View all
8-K
Departure of Directors or Certain Officers
14 Dec 22
10-Q
2023 Q3
Quarterly report
5 Dec 22
8-K
GitLab Reports Third Quarter Fiscal Year 2023 Financial Results
5 Dec 22
10-Q
2023 Q2
Quarterly report
6 Sep 22
8-K
GitLab Reports Second Quarter Fiscal Year 2023 Financial Results
6 Sep 22
8-K
Departure of Directors or Certain Officers
22 Jun 22
10-Q
2023 Q1
Quarterly report
6 Jun 22
8-K
GitLab Reports First Quarter Fiscal Year 2023 Financial Results
6 Jun 22
DEFA14A
Additional proxy soliciting materials
5 May 22
DEF 14A
Definitive proxy
5 May 22
Transcripts
View all
GTLB
Earnings call transcript
2023 Q3
6 Dec 22
GTLB
Earnings call transcript
2023 Q2
7 Sep 22
GTLB
Earnings call transcript
2023 Q1
7 Jun 22
GTLB
Earnings call transcript
2022 Q4
15 Mar 22
GTLB
Earnings call transcript
2022 Q3
7 Dec 21
Latest ownership filings
View all
4
Michael Eugene McBride
3 Feb 23
4/A
Divesh Makan
2 Feb 23
SC 13G/A
FRANKLIN RESOURCES INC
31 Jan 23
4
Dale R Brown
30 Jan 23
4
Dale R Brown
9 Jan 23
4
Michael Eugene McBride
5 Jan 23
4
Divesh Makan
29 Dec 22
4/A
Divesh Makan
29 Dec 22
4
VINOD KHOSLA
28 Dec 22
4
Michael Eugene McBride
20 Dec 22

Financial summary

Financial statements Chart GTLB financial data
Quarter (USD) Oct 22 Jul 22 Apr 22 Jan 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 374.67 mm 374.67 mm 374.67 mm 374.67 mm 374.67 mm 374.67 mm
Cash burn (monthly) 12.86 mm 37.50 mm 18.99 mm 17.14 mm 16.77 mm 15.35 mm
Cash used (since last report) 41.13 mm 119.92 mm 60.71 mm 54.81 mm 53.62 mm 49.08 mm
Cash remaining 333.54 mm 254.75 mm 313.96 mm 319.86 mm 321.05 mm 325.59 mm
Runway (months of cash) 25.9 6.8 16.5 18.7 19.1 21.2

Beta Read what these cash burn values mean

Financial data from Gitlab earnings reports.

Institutional ownership, Q3 2022

GTLB institutional ownership history Ownership history
86.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 219 185 +18.4%
Opened positions 67 69 -2.9%
Closed positions 33 34 -2.9%
Increased positions 74 54 +37.0%
Reduced positions 53 38 +39.5%
13F shares Current Prev Q Change
Total value 5.36 bn 5.04 bn +6.3%
Total shares 127.78 mm 119.08 mm +7.3%
Total puts 543.10 k 547.80 k -0.9%
Total calls 1.14 mm 1.08 mm +6.0%
Total put/call ratio 0.5 0.5 -6.5%
Largest owners Shares Value Change
Khosla Ventures Seed C 19.03 mm $1.66 bn 0.0%
August Capital VII 14.93 mm $0.00 0.0%
ICONIQ Strategic Partners III 12.54 mm $0.00 0.0%
ICONIQ Capital 9.77 mm $500.60 mm -0.0%
GV 2017 8.89 mm $0.00 0.0%
Capital Management VII, L.L.C. August 8.87 mm $454.18 mm -25.5%
MS Morgan Stanley 7.62 mm $390.19 mm +475.2%
Vanguard 4.65 mm $238.13 mm +73.8%
Capital Research Global Investors 3.37 mm $172.68 mm +71.8%
BLK Blackrock 3.31 mm $169.76 mm +0.5%
Largest transactions Shares Bought/sold Change
MS Morgan Stanley 7.62 mm +6.29 mm +475.2%
Capital Management VII, L.L.C. August 8.87 mm -3.03 mm -25.5%
Vanguard 4.65 mm +1.97 mm +73.8%
GS Goldman Sachs 49.23 k -1.88 mm -97.4%
Voya Investment Management 1.45 mm +1.45 mm NEW
Capital Research Global Investors 3.37 mm +1.41 mm +71.8%
Polar Capital 1.01 mm +1.01 mm NEW
General Catalyst Group Management 2.12 mm -991.50 k -31.9%
BEN Franklin Resources 2.14 mm +883.50 k +70.1%
Tiger Global Management 0.00 -778.00 k EXIT
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

GTLB insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Feb 23 Michael Eugene McBride Class A Common Stock Sell Dispose S Yes Yes 54.308 1,411 76.63 k 862,346
1 Feb 23 Michael Eugene McBride Class A Common Stock Sell Dispose S Yes Yes 53.56 606 32.46 k 863,757
1 Feb 23 Michael Eugene McBride Class A Common Stock Sell Dispose S Yes Yes 52.425 400 20.97 k 864,363
1 Feb 23 Michael Eugene McBride Class A Common Stock Sell Dispose S Yes Yes 50.893 630 32.06 k 864,763
1 Feb 23 Michael Eugene McBride Class A Common Stock Sell Dispose S Yes Yes 49.982 3,785 189.18 k 865,393
26 Jan 23 Dale R Brown Class A Common Stock Sell Dispose S No Yes 50 2,680 134.00 k 16,265
26 Jan 23 Dale R Brown Class A Common Stock Conversion Acquire C No No 0 2,680 0.00 18,945
26 Jan 23 Dale R Brown Class B Common Stock Class A Common Stock Conversion Dispose C No No 0 2,680 0.00 0
26 Jan 23 Dale R Brown Class B Common Stock Class A Common Stock Option exercise Acquire M No Yes 8.9 2,305 20.51 k 2,680
26 Jan 23 Dale R Brown Class B Common Stock Class A Common Stock Option exercise Acquire M No Yes 17.82 375 6.68 k 375
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
Benzinga's Top Ratings Upgrades, Downgrades For January 23, 2023
23 Jan 23
FBN Securities Initiates Coverage On GitLab with Outperform Rating, Announces Price Target of $60
23 Jan 23
FBN Securities analyst Shebly Seyrafi initiates coverage on GitLab (NASDAQ:GTLB) with a Outperform rating and announces Price Target of $60.
Analyst Expectations for GitLab's Future
5 Jan 23
Piper Sandler Maintains Overweight on GitLab, Lowers Price Target to $58
5 Jan 23
GitLab's Return On Capital Employed Overview
29 Dec 22

Press releases

From Benzinga Pro
GitLab Continues Expanding Its Security Certification and Report Portfolio
26 Jan 23
Secured a SOC 2 Type 1 report for GitLab Dedicated to include Security and Confidentiality criterionExpanded SOC 2 Type 2 report for GitLab.com to include the Availability Criteria Included GitLab Dedicated in its
GitLab to Present at the Needham Growth Conference
5 Jan 23
SAN FRANCISCO, Jan. 05, 2023 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., (NASDAQ:GTLB), the DevSecOps Platform, today announced that Brian Robins, GitLab's Chief Financial Officer, will present at the Needham Growth
GitLab Appoints Mark Porter to Board of Directors
13 Dec 22
SAN FRANCISCO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- ALL REMOTE – GitLab Inc., the DevSecOps platform, announced today the appointment of Mark Porter, Chief Technology Officer at MongoDB, Inc., to its Board of Directors.
GitLab Reports Third Quarter Fiscal Year 2023 Financial Results
5 Dec 22
GitLab to Present at the UBS Global TMT Conference
30 Nov 22
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