Cover
Cover - shares shares in Millions | 3 Months Ended | |
Apr. 30, 2024 | May 16, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Apr. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-40895 | |
Entity Registrant Name | GITLAB INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-1861035 | |
Title of 12(b) Security | Class A common stock, par value $0.0000025per share | |
Trading Symbol | GTLB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Address, Address Line One | 251 Little Falls Drive | |
Entity Address, City or Town | Wilmington | |
Entity Address, State or Province | DE | |
Entity Address, Postal Zip Code | 19808 | |
Entity Central Index Key | 0001653482 | |
Current Fiscal Year End Date | --01-31 | |
Current Fiscal Year Focus | 2025 | |
Current Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Class A Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 132.7 | |
Class B Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 26.2 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | ||
CURRENT ASSETS: | ||||
Cash and cash equivalents | [1] | $ 420,322 | $ 287,996 | |
Short-term investments | [1] | 641,173 | 748,289 | |
Accounts receivable, net of allowance for doubtful accounts of $582 and $673 as of April 30, 2024 and January 31, 2024, respectively | [1] | 135,195 | 166,731 | |
Deferred contract acquisition costs, current | [1] | 31,034 | 32,300 | |
Prepaid expenses and other current assets | [1] | 35,319 | 45,601 | |
Total current assets | [1] | 1,263,043 | 1,280,917 | |
Property and equipment, net | [1] | 2,820 | 2,954 | |
Operating lease right-of-use assets | 543 | [1] | 405 | |
Goodwill | [1] | 16,070 | 8,145 | |
Intangible assets, net | [1] | 16,637 | 1,733 | |
Deferred contract acquisition costs, non-current | [1] | 17,738 | 19,317 | |
Other non-current assets | [1] | 4,776 | 4,390 | |
TOTAL ASSETS | [1] | 1,321,627 | 1,317,861 | |
CURRENT LIABILITIES: | ||||
Accounts payable | [1] | 3,230 | 1,738 | |
Accrued expenses and other current liabilities | [1] | 306,734 | 286,178 | |
Accrued compensation and benefits | [1] | 22,743 | 35,809 | |
Deferred revenue, current | [1] | 341,830 | 338,348 | |
Total current liabilities | [1] | 674,537 | 662,073 | |
Deferred revenue, non-current | [1] | 15,267 | 23,794 | |
Other non-current liabilities | [1] | 17,465 | 14,060 | |
TOTAL LIABILITIES | [1] | 707,269 | 699,927 | |
Commitments and contingencies (Note 14) | [1] | |||
STOCKHOLDERS’ EQUITY: | ||||
Preferred stock, $0.0000025 par value; 50,000 shares authorized as of April 30, 2024 and January 31, 2024; no shares issued and outstanding as of April 30, 2024 and January 31, 2024 | [1] | 0 | 0 | |
Additional paid-in capital | [1] | 1,768,947 | 1,718,661 | |
Accumulated deficit | [1] | (1,204,466) | (1,149,822) | |
Accumulated other comprehensive income | [1] | 3,360 | 2,335 | |
Total GitLab stockholders’ equity | [1] | 567,841 | 571,174 | |
Noncontrolling interests | [1] | 46,517 | 46,760 | |
TOTAL STOCKHOLDERS’ EQUITY | [1] | 614,358 | 617,934 | |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | [1] | 1,321,627 | 1,317,861 | |
Class A Common Stock | ||||
STOCKHOLDERS’ EQUITY: | ||||
Common stock, value, issued | [1] | 0 | 0 | |
Class B Common Stock | ||||
STOCKHOLDERS’ EQUITY: | ||||
Common stock, value, issued | [1] | $ 0 | $ 0 | |
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | |
Allowance for doubtful accounts | $ 582 | $ 673 | |
STOCKHOLDERS’ EQUITY: | |||
Preferred stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 | |
Preferred stock, shares issued (in shares) | 0 | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Assets of consolidated variable interest entity | [1] | $ 1,321,627 | $ 1,317,861 |
Liabilities of consolidated variable interest entity | [1] | 707,269 | 699,927 |
Variable Interest Entity, Primary Beneficiary | |||
STOCKHOLDERS’ EQUITY: | |||
Assets of consolidated variable interest entity | 46,685 | 47,625 | |
Liabilities of consolidated variable interest entity | $ 6,071 | $ 6,080 | |
Class A Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Common stock, shares authorized (in shares) | 1,500,000,000 | 1,500,000,000 | |
Common stock, shares issued (in shares) | 132,670,000 | 114,670,000 | |
Common stock, shares outstanding (in shares) | 132,670,000 | 114,670,000 | |
Class B Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 | |
Common stock, shares issued (in shares) | 26,212,000 | 42,887,000 | |
Common stock, shares outstanding (in shares) | 26,212,000 | 42,887,000 | |
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Revenue | $ 169,187 | $ 126,878 |
Cost of revenue | 18,776 | 13,939 |
Gross profit | 150,411 | 112,939 |
Operating expenses: | ||
Sales and marketing | 92,424 | 86,537 |
Research and development | 54,140 | 50,387 |
General and administrative | 57,487 | 34,248 |
Total operating expenses | 204,051 | 171,172 |
Loss from operations | (53,640) | (58,233) |
Interest income | 12,030 | 7,315 |
Other income (expense), net | (567) | 253 |
Loss before income taxes and loss from equity method investment | (42,177) | (50,665) |
Loss from equity method investment, net of tax | 0 | (748) |
Provision for income taxes | 12,710 | 1,486 |
Net loss | (54,887) | (52,899) |
Net loss attributable to noncontrolling interest | (243) | (430) |
Net loss attributable to GitLab | $ (54,644) | $ (52,469) |
Net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in USD per share) | $ (0.35) | $ (0.35) |
Net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in USD per share) | $ (0.35) | $ (0.35) |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in shares) | 158,157 | 151,692 |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in shares) | 158,157 | 151,692 |
Subscription—self-managed and SaaS | ||
Revenue | $ 151,179 | $ 111,191 |
Cost of revenue | 13,839 | 10,891 |
License—self-managed and other | ||
Revenue | 18,008 | 15,687 |
Cost of revenue | $ 4,937 | $ 3,048 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (54,887) | $ (52,899) |
Foreign currency translation adjustments | 2,632 | (857) |
Net change in unrealized gains (losses) on available-for-sale securities | (1,721) | 1,497 |
Comprehensive loss including noncontrolling interest | (53,976) | (52,259) |
Net loss attributable to noncontrolling interest | (243) | (430) |
Foreign currency translation adjustments attributable to noncontrolling interest | (114) | (1,068) |
Comprehensive loss attributable to noncontrolling interest | (357) | (1,498) |
Comprehensive loss attributable to GitLab | $ (53,619) | $ (50,761) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Class A Common Stock | Common stock Class A Common Stock | Common stock Class B Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income | Noncontrolling Interests | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Stockholders' Equity, beginning balance | $ 824,725 | $ 0 | $ 0 | $ 1,497,373 | $ (725,648) | $ (705) | $ 53,705 | ||
Stockholders' Equity, beginning balance (in shares) at Jan. 31, 2023 | 94,655,000 | 56,489,000 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Conversion of stock (in shares) | 1,145,000 | (1,145,000) | |||||||
Issuance of common stock related to vested exercised stock options (in shares) | 1,120,000 | ||||||||
Issuance of common stock related to vested exercised stock options | 7,613 | 7,613 | |||||||
Repurchases, net of early exercised stock options | (11,000) | ||||||||
Issuance of common stock related to RSUs vested (in shares) | 359,000 | ||||||||
Charitable donation of common stock (in shares) | 80,742 | 81,000 | |||||||
Charitable donation of common stock | 2,675 | $ 2,700 | 2,675 | ||||||
Vesting of early exercised stock options | 517 | 517 | |||||||
Stock-based compensation expense | 32,330 | 34,804 | (2,474) | ||||||
Change in noncontrolling interest ownership | (379) | 379 | |||||||
Other comprehensive income (loss) | 640 | 1,708 | (1,068) | ||||||
Net loss | (52,899) | (52,469) | (430) | ||||||
Stockholders' Equity, ending balance (in shares) at Apr. 30, 2023 | 96,240,000 | 56,453,000 | |||||||
Stockholders' Equity, ending balance at Apr. 30, 2023 | 815,601 | $ 0 | $ 0 | 1,542,603 | (778,117) | 1,003 | 50,112 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Stockholders' Equity, beginning balance | 815,601 | 0 | 0 | 1,542,603 | (778,117) | 1,003 | 50,112 | ||
Stockholders' Equity, beginning balance | $ 617,934 | [1] | $ 0 | $ 0 | 1,718,661 | (1,149,822) | 2,335 | 46,760 | |
Stockholders' Equity, beginning balance (in shares) at Jan. 31, 2024 | 114,670,000 | 42,887,000 | |||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Conversion of stock (in shares) | 17,236,000 | (17,236,000) | |||||||
Issuance of common stock related to vested exercised stock options (in shares) | 561,000 | 561,000 | |||||||
Issuance of common stock related to vested exercised stock options | $ 5,093 | 5,093 | |||||||
Issuance of common stock related to RSUs vested (in shares) | 711,000 | ||||||||
Charitable donation of common stock (in shares) | 53,226 | 53,000 | |||||||
Charitable donation of common stock | 2,957 | $ 3,000 | 2,957 | ||||||
Vesting of early exercised stock options | 98 | 98 | |||||||
Stock-based compensation expense | 42,252 | 42,548 | (296) | ||||||
Change in noncontrolling interest ownership | (410) | 410 | |||||||
Other comprehensive income (loss) | 911 | 1,025 | (114) | ||||||
Net loss | (54,887) | (54,644) | (243) | ||||||
Stockholders' Equity, ending balance (in shares) at Apr. 30, 2024 | 132,670,000 | 26,212,000 | |||||||
Stockholders' Equity, ending balance at Apr. 30, 2024 | 614,358 | [1] | $ 0 | $ 0 | 1,768,947 | (1,204,466) | 3,360 | 46,517 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Stockholders' Equity, beginning balance | $ 614,358 | [1] | $ 0 | $ 0 | $ 1,768,947 | $ (1,204,466) | $ 3,360 | $ 46,517 | |
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2024 | Apr. 30, 2023 | ||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net loss, including amounts attributable to noncontrolling interest | $ (54,887) | $ (52,899) | |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Stock-based compensation expense | 42,252 | 32,330 | |
Charitable donation of common stock | 2,957 | 2,675 | |
Amortization of intangible assets | 1,087 | 579 | |
Depreciation expense | 937 | 1,092 | |
Amortization of deferred contract acquisition costs | 11,109 | 10,549 | |
Loss from equity method investment | 0 | 947 | |
Net amortization of premiums or discounts on short-term investments | (4,900) | (3,596) | |
Unrealized foreign exchange loss (gain), net | 545 | (262) | |
Other non-cash expense (income), net | 412 | (59) | |
Changes in assets and liabilities: | |||
Accounts receivable | 31,072 | 4,840 | |
Prepaid expenses and other current assets | 10,354 | (2,087) | |
Deferred contract acquisition costs | (8,540) | (8,497) | |
Other non-current assets | (419) | (302) | |
Accounts payable | 1,336 | (2,158) | |
Accrued expenses and other current liabilities | 19,617 | 2,789 | |
Accrued compensation and benefits | (13,152) | (5,121) | |
Deferred revenue | (4,448) | 8,383 | |
Other non-current liabilities | 2,806 | (164) | |
Net cash provided by (used in) operating activities | 38,138 | (10,961) | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of short-term investments | (144,392) | (58,864) | |
Proceeds from maturities of short-term investments | 254,687 | 83,500 | |
Purchases of property and equipment | (700) | (256) | |
Payments for business combination, net of cash acquired | (20,210) | 0 | |
Net cash provided by investing activities | 89,385 | 24,380 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases | 5,093 | 7,513 | |
Net cash provided by financing activities | 5,093 | 7,513 | |
Impact of foreign exchange on cash and cash equivalents | (290) | (401) | |
Net increase in cash and cash equivalents | 132,326 | 20,531 | |
Cash, cash equivalents, and restricted cash at beginning of period | 287,996 | 297,902 | |
Cash, cash equivalents, and restricted cash at end of period | 420,322 | 318,433 | |
Supplemental disclosure of cash flow information: | |||
Cash paid for income taxes | 1,011 | 1,066 | |
Supplemental disclosure of non-cash investing and financing activities: | |||
Vesting of early exercised stock options | 98 | 517 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | 284 | 0 | |
Reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets to the amounts shown in the statements of cash flows above: | |||
Cash and cash equivalents | 420,322 | [1] | 315,933 |
Restricted cash, included in prepaid expenses and other current assets | 0 | 2,500 | |
Total cash, cash equivalents and restricted cash | 420,322 | 318,433 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 284 | $ 0 | |
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | 1. Organization and Description of Business GitLab Inc. (the “Company”) began as an open source project in 2011 and was incorporated in Delaware on September 12, 2014. The Company operates on an all-remote model. The Company is a technology company and its primary offering is “GitLab”, a complete DevSecOps platform delivered as a single application. GitLab is used by a wide range of organizations. The Company also provides related training and professional services. GitLab is offered on both self-managed and software-as-a-service ("SaaS") models. The principal markets for GitLab are currently located in the United States, Europe, and Asia Pacific. The Company is focused on accelerating innovation and broadening the distribution of its platform to companies across the world to help them become better software-led businesses. |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. Fiscal Year The Company's fiscal year ends on January 31. For example, references to fiscal year 2025 and 2024 refer to the fiscal year ending January 31, 2025 and the fiscal year ended January 31, 2024, respectively. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue to the license element in the Company's self-managed subscriptions, estimating the amortization period for capitalized costs to obtain a contract, allowance for doubtful accounts, stock-based compensa tion expense, fair value of contingent consideration, fair valuation of retained interest in an investee on loss of control, valuation allowance for deferred income taxes, reserves for unrecognized income tax benefits, valuation of acquired intangibles assets and impairment of goodwill and equity method investments. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. Principles of Consolidation The condensed consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries as well as a variable interest entity for which the Company is the primary beneficiary. The ownership interest of other investors is recorded as noncontrolling interest. All intercompany accounts and transactions have been eliminated in consolidation. Summary of Significant Accounting Policies There were no significant changes to the Company’s significant accounting policies disclosed in “Note 2” of the Company’s Annual Report on Form 10-K f or the fiscal year ended January 31, 2024 . |
Revenues
Revenues | 3 Months Ended |
Apr. 30, 2024 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | 3. Revenues Disaggregation of Revenue The following table shows the components of revenues and their respective percentages of total revenue for the periods indicated (in thousands, except percentages): Three Months Ended April 30, 2024 2023 Subscription—self-managed and SaaS $ 151,179 89 % $ 111,191 88 % Subscription—self-managed 103,673 61 79,587 63 SaaS 47,506 28 31,604 25 License—self-managed and other $ 18,008 11 % $ 15,687 12 % License—self-managed 14,837 9 13,355 10 Professional services and other 3,171 2 2,332 2 Total revenue $ 169,187 100 % $ 126,878 100 % Total Revenue by Geographic Location The following table summarizes the Company’s total revenue by geographic location based on the region of the Company’s contracting entity, which may be different than the region of the customer (in thousands): Three Months Ended April 30, 2024 2023 United States $ 137,526 $ 102,962 Europe 27,652 20,957 Asia Pacific 4,009 2,959 Total revenue $ 169,187 $ 126,878 During the three months ended April 30, 2024 and 2023 , the United States accounted for 81% of total revenue. No other individual country exceeded 10% of total revenue for any of the periods presented. The Company operates its business as a single operating segment. Deferred Revenue During the three months ended April 30, 2024 and 2023, $125.3 million and $90.6 million, respectively, of revenue was recognized, which was included in the corresponding deferred revenue balance at the beginning of the periods presented. Remaining Performance Obligations As of April 30, 2024 and January 31, 2024, the aggregate amount of the transaction price allocated to bill ed and unbilled remaining performance obligations for which revenue has not yet been recognized was approximately $681.2 million and $673.8 million, respectively. As of April 30, 2024, the Company expects to recognize approximately 64% of the transaction price as product or services revenue over the next 12 months and 87% over the next 24 months. Concentration of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, short-term investments, and accounts receivable. At times, cash deposits may be in excess of insured limits. The Company believes that the financial institutions or corporations that hold its cash, cash equivalents, restricted cash, and short-term investments are financially sound and, accordingly, minimal credit risk exists with respect to these balances. The Company maintains allowances for potential credit losses on accounts receivable when deemed necessary. The Company uses various distribution channels. As of April 30, 2024 , two of these channel partners represented 10% and 14% of the accounts receivable balance, respectiv ely, while as of January 31, 2024, two of these channel partners represented 12% and 13% of the accounts receivable balance, respectively. There were no individual customers whose balance represented more than 10% of accounts receivable as of April 30, 2024 and January 31, 2024. There were no individual customers whose revenue represented more than 10% of total revenue during the three months ended April 30, 2024 and 2023. |
Cash, Cash Equivalents and Shor
Cash, Cash Equivalents and Short-Term Investments | 3 Months Ended |
Apr. 30, 2024 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents and Short-Term Investments | 4. Cash, Cash Equivalents and Short-Term Investments The following table summarizes the Company’s cash equivalents and short-term investments by category (in thousands): As of April 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Level 1: Cash equivalents (1) Money market funds $ 259,744 $ — $ — $ 259,744 Level 2: Cash equivalents (1) U.S. Treasury securities 57,887 — (3) 57,884 Commercial paper 12,916 — (3) 12,913 Total cash equivalents 330,547 — (6) 330,541 Short-term investments Commercial paper 27,592 2 (17) 27,577 Corporate debt securities 212,399 30 (692) 211,737 U.S. Agency securities 48,848 — (153) 48,695 U.S. Treasury securities 353,904 — (740) 353,164 Total short-term investments 642,743 32 (1,602) 641,173 Level 2 total 713,546 32 (1,608) 711,970 Total cash equivalents and short-term investments $ 973,290 $ 32 $ (1,608) $ 971,714 (1) Included in “cash and cash equivalents” in our condensed consolidated balance sheet as of April 30, 2024, in addition to cash of $89.8 million. As of January 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Level 1: Cash equivalents (1) Money market funds $ 187,175 $ — $ — $ 187,175 Level 2: Cash equivalents (1) U.S. Treasury securities 15,909 — (2) 15,907 Commercial paper 3,962 — (1) 3,961 Total cash equivalents 207,046 — (3) 207,043 Short-term investments Commercial paper 23,229 14 (1) 23,242 Corporate debt securities 231,219 740 (250) 231,709 U.S. Agency securities 56,324 29 (136) 56,217 U.S. Treasury securities 437,369 141 (389) 437,121 Total short-term investments 748,141 924 (776) 748,289 Level 2 total 768,012 924 (779) 768,157 Total cash equivalents and short-term investments $ 955,187 $ 924 $ (779) $ 955,332 (1) Included in “cash and cash equivalents” in our condensed consolidated balance sheet as of January 31, 2024, in addition to cash of $81.0 million. The fair value of the Company’s Level 1 financial instruments, such as money market funds which are traded in active markets, is based on quoted market prices for identical instruments. The fair value of the Company’s Level 2 financial instruments such as commercial paper, corporate debt and U.S. government securities are obtained from an independent pricing service, which may use inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security that may not be actively traded. The Company’s marketable securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models. The Company uses the specific-identification method to determine any realized gains or losses from the sale of the Company’s short-term investments classified as available-for-sale. For the three months ended April 30, 2024 and 2023 , the Company did not have any material realized gains or losses as a result of maturities or sales of short-term investments. During the three months ended April 30, 2024 and 2023, the Company recorded $12.0 million and $7.3 million of interest income on cash and cash equivalents and short-term investments, respectively, which includes $4.9 million and $3.6 million of net amortization of premiums or discounts on short-term investments during the three months ended April 30, 2024 and 2023, respectively. The following table summarizes unrealized losses on the Company’s cash equivalents and short-term investments aggregated by category and the length of time such aggregated investments have been in a continuous unrealized loss position as of the periods presented (in thousands): Less Than 12 Months 12 Months or Greater Total Carrying Value Gross Unrealized Losses Carrying Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 30, 2024 U.S. Agency securities $ 36,247 $ (113) $ 9,448 $ (40) $ 45,695 $ (153) Commercial paper 37,421 (20) — — 37,421 (20) Corporate debt securities 168,986 (675) 13,195 (17) 182,181 (692) U.S. Treasury securities 392,924 (704) 18,124 (39) 411,048 (743) Total cash equivalents and short-term investments $ 635,578 $ (1,512) $ 40,767 $ (96) $ 676,345 $ (1,608) Less Than 12 Months 12 Months or Greater Total Carrying Value Gross Unrealized Losses Carrying Value Gross Unrealized Losses Fair Value Gross Unrealized Losses January 31, 2024 U.S. Agency securities $ 35,979 $ (53) $ 11,386 $ (83) $ 47,365 $ (136) Commercial paper 15,462 (2) — — 15,462 (2) Corporate debt securities 85,998 (192) 15,485 (58) 101,483 (250) U.S. Treasury securities 139,567 (192) 41,193 (199) 180,760 (391) Total cash equivalents and short-term investments $ 277,006 $ (439) $ 68,064 $ (340) $ 345,070 $ (779) The following table classifies the Company’s short-term investments by contractual maturities (in thousands): April 30, 2024 January 31, 2024 Amortized cost Fair Value Amortized cost Fair Value Due within 1 year $ 500,465 $ 499,318 $ 619,286 $ 618,765 Due between 1 year to 2 years 142,278 141,855 128,855 129,524 Total $ 642,743 $ 641,173 $ 748,141 $ 748,289 All available-for-sale securities have been classified as current, based on management’s ability to use the funds in current operations. Liabilities are measured at fair value on a recurring basis. The Company has contingent cash consideration from business acquisitions which is determined based upon the satisfaction of certain defined operational milestones and remeasured at fair value at each reporting period through earnings. As the fair value is based on unobservable inputs, the liability is included in Level 3 of the fair value measurement hierarchy. The Company reassessed the fair value of outstanding operational milestones and there was no change d uring the three months ended April 30, 2024 and 2023. The Company h ad $3.7 million and $3.6 million of Level 3 contingent consideration as of April 30, 2024 and January 31, 2024, respec tively. Interest accretion expense on contingent cash consideration wa s immaterial fo r th e three months ended April 30, 2024 and 2023. |
Supplemental Financial Statemen
Supplemental Financial Statement Information | 3 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental Financial Statement Information | 5. Supplemental Financial Statement Information Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): April 30, 2024 January 31, 2024 Income tax liability related to BAPA (1) $ 265,254 $ 258,675 Accrued expenses 21,015 11,499 ESPP employee contributions 6,912 2,827 Acquisition related liabilities (2) 3,766 3,608 Income taxes payable 3,380 2,212 Customer refunds payable 3,335 3,019 Indirect taxes payable 2,701 3,928 Operating lease liabilities, current 371 410 Total accrued expenses and other current liabilities $ 306,734 $ 286,178 (1) Refer to “Note 12. Income Taxes” for a discussion on the unrecognized tax benefits related to the BAPA. (2) $0.1 million relates to Oxeye acquisition founder holdback (see Note 6. Business Combination ) and $3.7 million relates to Opstrace acquisition. Other Inc ome (Expense), Net Other income (expense), net consisted of the following (in thousands): Three Months Ended April 30, 2024 2023 Foreign exchange gains (losses), net $ (637) $ 274 Other income (expense), net 70 (21) Total other income (expense), net $ (567) $ 253 |
Business Combination
Business Combination | 3 Months Ended |
Apr. 30, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combination | 6. Business Combination On March 20, 2024 (the “Acquisition Date”), the Company completed the acquisition of Oxeye Security Limited (“Oxeye”), a cloud-native application security and risk management solution company based in Israel. The Company believes this acquisition will allow the Company to strengthen its product offerings. The transaction was accounted for as a business combination. The Acquisition Date fair value of the consideration transferred consisted of the following (in thousands): Closing cash consideration $ 16,737 Cash held in escrow 3,593 Total consideration $ 20,330 Total consideration includes $3.6 million deposited in an escrow account as partial security for post-closing indemnification claims made within 15 months of the Acquisition Date. As the Company is not the legal owner of the escrow account, it is not recorded on the condensed consolidated balance sheet as of April 30, 2024. As part of the acquisition, there was also a holdback in the amount of $3.2 million (the “holdback”). The holdback will be paid to the two co-founders (the “founder holdback”) in three equal tranches of 33.3%. The first such payment will be paid if certain milestones are achieved on or before the first anniversary of the closing date, provided such founder is employed by the Company on the first anniversary. The second and third tranches will be paid provided such founder is employed by the Company on the second and third anniversaries of the closing dates, respectively. As the founder holdback arrangement represents compensation for post-combination services, the Company has excluded the entire $3.2 million from the purchase price to be allocated, and will recognize the amount as expense over the period of services rendered after factoring in the likelihood of achieving the milestones. During the three months ended April 30, 2024, $0.1 million of the founder holdback was expensed by the Company in general and administrative expenses in its condensed consolidated statement of operations. Acquisition related transaction costs were $1.3 million for the three months ended April 30, 2024 and were expensed by the Company in general and administrative expenses in its condensed consolidated statement of operations. The Company recorded the assets acquired and liabilities assumed at their estimated fair values, with the difference between the fair value of the net assets acquired and the purchase consideration reflected in goodwill. The total purchase price of $20.3 million was allocated using information available to the Company at the time of acquisition. The Company may continue to adjust the preliminary purchase price allocation after obtaining more information regarding asset valuations, liabilities assumed, tax-related items and revisions of preliminary estimates. During the three months ended April 30, 2024, there were no measurement period adjustments identified and recorded. The following table reflects the fair values of assets acquired and liabilities assumed (in thousands): Cash and cash equivalents $ 120 Developed technology 16,276 Goodwill 8,055 Prepaid expenses and other current assets 121 Accrued expenses and payroll (3,582) Deferred tax liability (660) Net assets acquired $ 20,330 As of March 20, 2024, developed technology of the acquired business had an estimated useful life of three years. The fair value of the developed technology intangible asset was estimated using the replacement cost method, which utilizes assumptions for the cost to replace it, such as time and resources required, as well as a theoretical profit margin and opportunity costs. The goodwill is primarily attributed to the synergies expected to be realized following the acquisition. The goodwill is not deductible for Israeli income tax purposes. Results of operations of the business acquired have been included in the Company’s condensed consolidated financial statements subsequent to the date of acquisition. The revenue and net income (loss) earned by the business acquired following the acquisition are not material to the Company’s condensed consolidated results of operations; and accordingly, pro forma financial statements have not been presented. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 3 Months Ended |
Apr. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | 7. Goodwill and Intangible Assets, Net Goodwill The carrying amount of goodwill was as follows (in thousands): Carrying Amount Balance as of January 31, 2024 $ 8,145 Acquisition of Oxeye 8,055 Foreign currency translation adjustments (130) Balance as of April 30, 2024 $ 16,070 There was no goodwill impairment for any periods presented. Intangible Assets Intangible assets, net consisted of the following (in thousands): April 30, 2024 (1) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 22,192 $ (5,555) $ 16,637 2.5 Developed technology from asset acquisitions 906 (906) — 0.0 Total $ 23,098 $ (6,461) $ 16,637 January 31, 2024 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (4,467) $ 1,733 0.8 Developed technology from asset acquisitions (1) 914 (914) — 0.0 Total $ 7,114 $ (5,381) $ 1,733 (1) The amounts in the tables above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying intangibles. Amortization expense w a s $1.1 million and $0.6 million for t h e three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, future a mortization expense related to the intangibles assets is expected to be as follows (in thousands): Fiscal Years 2025 $ 5,221 2026 5,330 2027 5,330 2028 756 Total future amortization $ 16,637 |
Team Member Benefit Plans
Team Member Benefit Plans | 3 Months Ended |
Apr. 30, 2024 | |
Retirement Benefits [Abstract] | |
Team Member Benefit Plans | 8. Team Member Benefit Plans The Company contributes to defined c ontribution plans in a number of countries including a 401(k) savings plan for U.S. based team members and defined contribution arrangements in the United Kingdom, Australia, New Zealand and select other countries based on the legislative and tax requirements of the respective countries. Total contributions to these plans were $1.8 million and $1.7 million for t he three months ended April 30, 2024 and 2023 , respectively. |
Equity
Equity | 3 Months Ended |
Apr. 30, 2024 | |
Equity [Abstract] | |
Equity | 9. Equity Common Stock The Company had shares of common stock reserved for future issuance as follows (in thousands): April 30, 2024 January 31, 2024 Class A and Class B common stock Options issued and outstanding 7,880 8,503 Shares available for issuance under Equity Incentive Plans 30,067 24,868 RSUs and PSUs issued and outstanding 12,960 10,930 Shares reserved for issuance to charitable organizations 1,351 1,404 ESPP 6,974 5,398 Total 59,232 51,103 Equity Incentive Plans In September 2021, the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”) as a successor of the Company’s 2015 Equity Incentive Plan (together the “Plans”). Effective February 1, 2024 , the number of shares available under the 2021 Plan was automatically increased by 7,877,919 shar es pursuant to the terms of the 2021 Plan. The awards available for grant under the above Plans for the pe riods presented were as follows (in thousands): April 30, 2024 January 31, 2024 Available at beginning of period 24,868 21,483 Awards authorized 7,878 7,557 RSUs and PSUs granted (3,159) (6,258) RSUs and PSUs canceled and forfeited 418 1,292 Options canceled and forfeited 62 777 Options repurchased — 17 Available at end of period 30,067 24,868 In the event that shares previously issued u nder the above Plans are reacquire d by the Company, such shares shall be added to the number of shares then available for issuance under the 2021 Plan. In the event that an outstanding stock option for any reason expires or is canceled, the shares allocable to the unexercised portion of su ch stock option will be added to the number of shares then available for issuance under the 2021 Plan. Both Plans allow the grantees to early exercise stock options. Stock Options, RSUs and PSUs The following table summarizes options activity under the Plans, and related information: Number of Stock Options Outstanding (in thousands) Weighted Average Exercise Price Weighted Average Remaining Years Aggregate Intrinsic value (in millions) Balances at January 31, 2024 8,503 $ 13.03 5.85 $ 499.2 Options granted — — — Options exercised (561) 9.08 — Options canceled (6) 10.11 — Options forfeited (56) 18.79 — Balances at April 30, 2024 7,880 $ 13.27 5.63 $ 312.6 Options vested at April 30, 2024 6,213 $ 11.98 5.37 $ 251.6 Options vested and expected to vest at April 30, 2024 7,880 $ 13.27 5.63 $ 312.6 During the three months ended April 30, 2024 and 2023, the Company recorded $3.5 million and $4.8 million stock-based compensation expenses related to options, respectively. As of April 30, 2024, approximately $17.6 million of total unrecognized compensation cost was related to stock options granted, that is expected to be recognized over a weighted-average period of 1.4 years. The expected stock compensation expense remaining to be recognized reflects only outstanding stock awards as of the periods presented, and assumes no forfeitures. The following table summarizes the Company’s RSU activity: Number of Shares (in thousands) (1) Weighted- Balances at January 31, 2024 7,701 $ 47.20 Granted 3,159 56.18 Vested (711) 47.77 Canceled/forfeited (418) 50.02 Balances at April 30, 2024 9,731 $ 49.93 (1) The table above does not include 3 million RSUs granted to the Company’s founder and the Chief Executive Officer (“CEO”) described below. These RSUs are grants of shares of the Company’s common stock, the vesting of which is based on the requisite service requirement. Generally, the Company’s RSUs are subject to forfeiture and are expected to vest over two As of April 30, 2024, approximately $468.5 million of total unrecognized compensation cost was related to RSUs granted to team members other than the CEO, that is expected to be recognized over a weighted-average period of 3.1 years. The expected stock compensation expense remaining to be recognized reflects only outstanding stock awards as of the periods presented, and assumes no forfeitures. In June 2022, the Company granted 0.4 million PSUs to senior members of its management team subject to revenue performance condition and service conditions. The number of awards granted represents 100% of the target goal; under the terms of the awards, the recipient may earn between 0% and 200% of the original grant. The performance c ondition is set to be achieved in fiscal year 2025 and the service condition in calendar year 2025. The Company recorded $0.6 million and $0.4 million of stock-based compensation expense related to PSUs during the three months ended April 30, 2024 and 2023 , respectively. As of April 30, 2024, unrecognized stock-based compensation expense related to these PSUs was $2.3 million to be recognized over a period of 1.6 years. CEO Performance Award In May 2021, the Company granted 3 million RSUs tied to its Class B common stock to Sytse Sijbrandij, the Company’s co-founder and CEO, with an estimated aggregate grant date fair value of $8.8 million. During the three months ended April 30, 2024 and 2023, the Company recorded $0.4 million of stock-based compensation expense related to the CEO RSUs. As measured from the grant date, the derived service period of the respective tranches ranges from 2 to 7 years. As of April 30, 2024, unrecognized stock-based compensation expense related to these RSUs was $3.9 million which will be recognized over 4.6 years. 2021 Employee Stock Purchase Plan (“ESPP”) In September 2021, the Company’s board of directors and its stockholders approved the ESPP and participation of eligible team members. Effective as of February 1, 2024, the number of shares available under the ESPP was automatically increased by 1,575,583 shares pursuant to the terms of the 2021 ESPP. The Company rec orded $2.6 million and $4.5 million of stock-based compensation expense related to the ESPP during the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, approximately $10.1 million of total unrecognized compensation cost was related to the ESPP that is expected to be recognized over 1.6 years. Stock-Based Compensation Expense The Company recognized stock-based compensation expense as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue $ 1,855 $ 1,414 Sales and marketing 17,397 13,764 Research and development 12,336 11,702 General and administrative 10,664 5,450 Total stock-based compensation expense (1) $ 42,252 $ 32,330 (1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. The corporate income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation expense was zero and $2.8 million for the three months ended April 30, 2024 and 2023 , respectively. Charitable Donation of Common Stock In September 2021, the Company’s board of directors approved the reservation of up to 1,635,545 shares of Class A common stock for issuance to charitable organizations. In March 2024 and 2023, the Company’s board of directors approved the donation of $11.8 million and $10.7 million aggregate principal amount of shares of Class A common stock to the GitLab Foundation (the “Foundation”), a California nonprofit public benefit corporation, respectively. The Foundation is also a related party as certain of the Company’s officers serve as directors of the Foundation. These donations shall occur in four equal quarterly distributions. During the three months ended April 30, 2024 and 2023, the Company donated 53,226 shares and 80,742 shares of Class A common stock at fair value to the Foundation, respectively. The fair value of the common stock was determined based on the quoted market price on the grant date. The donation expense of $3.0 million and $2.7 million was recorded in general and administrative expense in the condensed consolidated statements of operations for the three months ended April 30, 2024 and 2023, respectively. |
Restructuring and Other Related
Restructuring and Other Related Charges | 3 Months Ended |
Apr. 30, 2024 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Other Related Charges | 10. Restructuring and Other Related Charges In February 2024, the Company restructured certain departments to better align functions and recognized total restructuring charges of approximately $1.0 million during the three months ended April 30, 2024. In February 2023, the Company reduced its total global headcount by approximately 7% . As a result, the Company recognized total restructuring charges of approximately $9.0 million during the three months ended April 30, 2023, which consisted primarily of one-time severance and other termination benefit costs of $7.7 million, as well as accelerated stock-based compensation of $1.3 million. The Company recognized severance and other termination benefit costs as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue $ — $ 417 Research and development — 2,059 Sales and marketing 730 3,559 General and administrative 276 1,618 Total (1) $ 1,006 $ 7,653 (1) Excludes stock-based compensation of zero and $1.3 million for the three months ended April 30, 2024 and 2023, respectively. The changes in liabilities resulting from the restructuring charges and related accruals were as follows (in thousands) : Balance as of January 31, 2024 $ 188 Charges 1,006 Cash payments (1,176) Balance as of April 30, 2024 (1) $ 18 (1) Balance is included in accrued compensation and benefits on the condensed consolidated balance sheet as of April 30, 2024. |
Joint Venture and Equity Method
Joint Venture and Equity Method Investment | 3 Months Ended |
Apr. 30, 2024 | |
Noncontrolling Interest [Abstract] | |
Joint Venture and Equity Method Investment | 11. Joint Venture and Equity Method Investment Joint Venture In February 2021, the Company along with Sequoia CBC Junyuan (Hubei) Equity Investment Partnership (Limited Partnership) and Suzhou Gaocheng Xinjian Equity Investment Fund Partnership (Limited Partnership) executed an investment agreement (the “Investment Agreement”) to establish GitLab Information Technology (Hubei) Co., LTD (“JiHu”), a legal entity in the People’s Republic of China. The Company accounted for JiHu as a variable interest entity and consolidated the entity in accordance with ASC Topic 810, Consolidation. As of April 30, 2024, the Company retains control over JiHu with its equity stake at approxima tely 54%. JiHu maintains an employee stock option plan (“JiHu ESOP”) for its employees. As a result of forfeitures triggered by the departure of key executives during the three months ended April 30, 2024 and 2023 , t he Company reversed stock-based compensation previously recorded which resulted in a $0.3 million gain and $2.5 million gain, respectively. As of April 30, 2024, approximately $1.2 million of total unrecognized compensation cost was related to the JiHu ESOP that is expected to be recognized over 3.6 years. Operating Leases JiHu entered into a new lease in March 2024 and has various non-cancelable long-term operating leases maturing by June 30, 2026 with total lease payments of $0.5 million and a total present value of lease liabilities of $0.5 million. In addition, there is one short-term lease for which the associated lease expense was immaterial during the three months ended April 30, 2024 and 2023. The Company recognized $0.2 million of operating lease expense during the three months ended April 30, 2024 and 2023. The table below presents supplemental information related to operating leases for the three months ended April 30, 2024 (in thousands, except weighted-average information): Weighted-average remaining lease term (in years) 0.88 Weighted-average discount rate 3.6 % Right-of-use assets obtained in exchange for new operating lease liabilities $ 284 Cash paid for amounts included in the measurement of lease liabilities $ 195 Selected Financial Information Selected financial information of JiHu, post intercompany eliminations, is as follows (in thousands): Three Months Ended April 30, 2024 2023 Revenue $ 1,646 $ 1,464 Cost of revenue 484 491 Gross profit 1,162 973 Operating expenses: Sales and marketing 1,635 2,084 Research and development (211) 1,956 General and administrative 838 (1,444) Total operating expenses 2,262 2,596 Loss from operations (1,100) (1,623) Interest income 227 315 Other income, net 347 269 Net loss before income taxes (526) (1,039) Net loss $ (526) $ (1,039) Net loss attributable to noncontrolling interest $ (243) $ (430) April 30, 2024 January 31, 2024 Cash and cash equivalents $ 41,901 $ 43,896 Property and equipment, net 357 489 Operating lease right-of-use assets 543 405 Other assets 3,884 2,835 Total assets $ 46,685 $ 47,625 Total liabilities $ 6,071 $ 6,080 Equity Method Investment In April 2021, the Company reorganized Meltano Inc. (“Meltano”), now operating as Arch Data, Inc. (“Arch”), which started as an internal project within the Company in July 2018, into a separate legal entity. The Company recorded an impairment charge of $8.9 million in other income (expense), net in the condensed consolidated statement of operations during the year ended January 31, 2024 which reduced the equity method investment value to zero a s of January 31, 2024 . During the three months ended April 30, 2024 and 2023 , the Company recorded a loss from equity method investment of zero and $0.7 million, net of tax on the condensed consolidated statements of operations, respectively. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes For the three months ended April 30, 2024, the Company recorded income tax expense of $12.7 million on pretax loss of $42.2 million. The income tax expense for the three months ended April 30, 2024 was primarily related to an increase in tax expense for unrecognized tax benefits and the Company's foreign and domestic operations. For the three months ended April 30, 2023 , the Company recorded income tax expense of $1.5 million on pretax loss of $50.7 million . The income tax expense for the three months ended April 30, 2023 was primarily related to the Company's foreign and domestic operations. The Company's provision for income taxes is based on its worldwide estimated annualized effective tax rate, except for jurisdictions for which a loss is expected for the year and no benefit can be realized for those losses, jurisdictions for which forecasted pre-tax income or loss cannot be estimated, and the tax effect of discrete items occurring during the period. The tax provision for jurisdictions for which a forecast cannot be estimated is based on actual taxes and tax reserves for the quarter. Under the provisions of ASC 740, Income Taxes , the determination of the Company’s ability to recognize its deferred tax asset requires an assessment of both negative and positive evidence when determining the Company’s ability to recognize its deferred tax assets. As in prior years, the Company maintained that it was not more likely than not that the Company could recognize deferred tax assets in certain jurisdictions. The evidence evaluated by the Company included operating results during the most recent three-year period and future projections. More weight was given to historical results than to expectations of future profitability, which are inherently uncertain. Certain entities’ net losses in recent periods represented sufficient negative evidence to require a valuation allowance against its net deferred tax assets. This valuation allowance will be evaluated periodically and could be reversed partially or totally if business results have sufficiently improved to support realization of deferred tax assets. As of April 30, 2024, unrecognized tax benefits were $398.3 million, of which $210.3 million would affect the effective tax rate if recognized. The Company has classified approximately $209.7 million of unrecognized tax benefit as current tax liability due to anticipated timing of the settlement of the bilateral advance pricing agreement (“BAPA”) with the U.S. Internal Revenue Service (“IRS”) and Dutch Tax Authority (“DTA”) and their associated payments, which are expected to be made within the next 12 months. The Company is unable to reasonably estimate the timing of remaining long-term payments or the amount by which the liability will increase or decrease. It is the Company’s policy to classify accrued interest and penalties related to unrecognized tax benefits in provision for income taxes. Accrued interest and penalties were $56.7 million as of April 30, 2024 and $52.1 million as of January 2024, respectively. The Company has been in BAPA negotiations between the IRS and the DTA relating to the Company’s transfer pricing arrangements between the United States and the Netherlands. In the year ended January 31, 2024, the Company for the first time discussed with the IRS and DTA a framework to finalize its transfer pricing arrangements for the proposed BAPA period consisting of tax years ending December 31, 2018 through January 31, 2027. The proposed agreements between the Company, the IRS and the DTA are not yet final; in anticipation of the agreements, $254.9 million of net tax liability was recorded in the year ended January 31, 2024, and an additional $8.7 million of net tax liability was recorded for the three months ended April 30, 2024. These amounts represent the unrecognized tax benefit relating to the BAPA. The unrecognized tax benefit represents the Company’s best estimate of the tax liability associated with the proposed agreements and their related effects. As of April 30, 2024, the Company’s U.S. federal 2018 through 2022 tax years were open and subject to potential examination in one or more jurisdictions. In addition, in the United States, any net operating losses or credits that were generated in prior years but not yet fully utilized in a year that is closed under the statute of limitations may also be subject to examination. The Company is currently under examination in the Netherlands for the tax years ended December 31, 2015 and 2016. The Company expects negotiations to continue to the middle of fiscal year 2025. The Company believes that it has adequately reserved for the outcome of this audit. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. The Company continues to monitor the progress of ongoing discussions with tax authorities and the effect, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. |
Net Loss per Share
Net Loss per Share | 3 Months Ended |
Apr. 30, 2024 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | 13. Net Loss per Share The following table sets forth basic and diluted loss per share for each of the periods presented (in thousands, except per share data): Three Months Ended April 30, 2024 2023 Numerator: Net loss attributable to GitLab $ (54,644) $ (52,469) Denominator: Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted 158,157 151,692 Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted $ (0.35) $ (0.35) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands): As of April 30, 2024 January 31, 2024 Shares subject to outstanding common stock options 7,880 8,503 Unvested restricted stock in connection with business combination 2 3 Unvested early exercised stock options 17 22 Unvested RSUs and PSUs 12,960 10,930 Shares subject to the ESPP 155 63 Total 21,014 19,521 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 14. Commitments and Contingencies Contractual Obligations and Commitments The Company’s purchase oblig ations of $136.8 million as of April 30, 2024 , represent third-party non-cancelable hosting infrastructure agreements, subscription arrangements and other commitments used in the ordinary course of business to meet operational requirements. Loss Contingencies In accordance with ASC 450, Loss Contingencies, the Company accrues for contingencies when losses become probable and reasonably estimable. Accordingly, the Company has recorded an estimated liability related to certain labor matters regarding its use o f contractors in certain foreign countries. As of April 30, 2024 and January 31, 2024, the estimated liability relating to these matters was $2.1 million and $2.2 million recorded in other non-current liabilities on the condensed consolidated balance sheets, respectively. Warranties and Indemnifications The Company enters into service level agreements with customers which warrant defined levels of uptime and support response times and permit those customers to receive credits for prepaid amounts in the event that those performance and response levels are not met. To date, the Company has not experienced any significant failures to meet defined levels of performance and response. In connection with the service level agreements, the Company has not incurred any significant costs and has not accrued any liabilities in the condensed consolidated financial statements. In the ordinary course of business, the Company enters into contractual arrangements under which the Company agrees to provide indemnification of varying scope and terms to business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, intellectual property infringement claims made by third parties, and other liabilities relating to or arising from the Company’s platform or the Company’s acts or omissions. In these circumstances, payment may be conditional on the other party making a claim pursuant to the procedures specified in the particular contract. Further, the Company’s obligations under these agreements may be limited in terms of time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments. In addition, the Company has agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable the Company to recover a portion of any future amounts paid. Legal Proceedings The Company is, and from time to time, may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. The Company is not presently a party to any legal proceedings that in the opinion of management, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial condition or operating results. |
Subsequent Event
Subsequent Event | 3 Months Ended |
Apr. 30, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Event | 15. Subsequent Event On May 23, 2024, the Company completed its acquisition of certain assets, primarily software intellectual property, of Rezilion Inc. and its subsidiary, Rezilion Ltd. (collectively, “Rezilion”) for approximately $7.3 million in cash, subject primarily to a one-time payment to the Israel Innovation Authority and settlement of a bank borrowing, and the assumption of select liabilities. Select employees of Rezilion have also joined the Company. Rezilion has developed software security solutions and this transaction will allow the Company to strengthen its product offerings. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Pay vs Performance Disclosure | ||
Net Income (Loss) | $ (54,644) | $ (52,469) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Apr. 30, 2024 shares | |
Trading Arrangements, by Individual | |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Merline Saintil [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | Merline Saintil 10b5-1 Plan On March 27, 2024, Merline Saintil, a member of the Company’s board of directors, entered into a pre-arranged written stock sale plan in accordance with Rule 10b5-1 (the “Saintil Rule 10b5-1 Plan”) under the Exchange Act for the sale of shares of the Company’s Class A common stock. The Saintil Rule 10b5-1 Plan was entered into during an open trading window in accordance with the Company’s policies regarding transactions in the Company’s securities and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The Saintil Rule 10b5-1 Plan provides for the potential sale of shares of the Company’s Class A common stock, including upon the vesting and settlement of restricted stock units, so long as the market price of the Company’s Class A common stock is higher than certain minimum threshold prices specified in the Saintil Rule 10b5-1 Plan, between June 26, 2024 and March 31, 2025. The aggregate number of shares of Class A common stock that will be available for sale under the Saintil Rule 10b5-1 Plan is not yet determinable because the shares available will be net of shares sold to satisfy tax withholding obligations that arise in connection with the vesting and settlement of such restricted stock unit awards. As such, for purposes of this disclosure, the aggregate number of shares of Class A common stock available for sale is approximately 2,511, which reflects the aggregate maximum number of shares underlying Ms. Saintil’s restricted stock units which may be sold, without excluding the shares that will be sold to satisfy the tax withholding obligations. The Saintil Rule 10b5-1 Plan includes a representation from Ms. Saintil to the broker administering the plan that she was not in possession of any material nonpublic information regarding the Company or the securities subject to the Saintil Rule 10b5-1 Plan at the time it was entered into. A similar representation was made to the Company in connection with the adoption of the Saintil Rule 10b5-1 Plan under the Company’s policies regarding transactions in the Company’s securities. Those representations were made as of the date of adoption of the Saintil Rule 10b5-1 Plan, and speak only as of such date. In making those representations, there is no assurance with respect to any material nonpublic information of which Ms. Saintil was unaware, or with respect to any material nonpublic information acquired by Ms. Saintil or the Company after the date of the representation. |
Name | Merline Saintil |
Title | member of the Company’s board of directors |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 27, 2024 |
Arrangement Duration | 278 days |
Aggregate Available | 2,511 |
Karen Blasing [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | Karen Blasing 10b5-1 Plan On March 26, 2024, Karen Blasing, a member of the Company’s board of directors, entered into a pre-arranged written stock sale plan in accordance with Rule 10b5-1 (the “Blasing Rule 10b5-1 Plan”) under the Exchange Act for the sale of shares of the Company’s Class A common stock. The Blasing Rule 10b5-1 Plan was entered into during an open trading window in accordance with the Company’s policies regarding transactions in the Company’s securities and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The Blasing Rule 10b5-1 Plan provides for the potential sale of up to 76,430 shares of the Company’s Class A common stock so long as in each case the market price of the Company’s Class A common stock is higher than certain minimum threshold prices specified in the Blasing Rule 10b5-1 Plan, between June 25, 2024 and March 31, 2026. The aggregate number of shares of Class A common stock that will be available for sale under the Blasing Rule 10b5-1 Plan is not yet determinable because the shares available will be net of shares sold to satisfy tax withholding obligations that arise in connection with the settlement of such already vested restricted stock unit awards and exercise and settlement of such stock options. As such, for purposes of this disclosure, the aggregate number of shares of Class A common stock available for sale is approximately 76,430, which reflects the aggregate maximum number of shares underlying Ms. Blasing’s restricted stock units and stock options which may be sold, without excluding the shares that will be sold to satisfy the tax withholding obligations. The Blasing Rule 10b5-1 Plan includes a representation from Ms. Blasing to the broker administering the plan that she was not in possession of any material nonpublic information regarding the Company or the securities subject to the Blasing Rule 10b5-1 Plan at the time it was entered into. A similar representation was made to the Company in connection with the adoption of the Blasing Rule 10b5-1 Plan under the Company’s policies regarding transactions in the Company’s securities. Those representations were made as of the date of adoption of the Blasing Rule 10b5-1 Plan, and speak only as of such date. In making those representations, there is no assurance with respect to any material nonpublic information of which Ms. Blasing was unaware, or with respect to any material nonpublic information acquired by Ms. Blasing or the Company after the date of the representation. |
Name | Karen Blasing |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 26, 2024 |
Arrangement Duration | 644 days |
Aggregate Available | 76,430 |
Erin Mannix [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | Erin Mannix New 10b5-1 Plan On March 28, 2024, Erin Mannix, the Company’s Chief Accounting Officer, entered into a new pre-arranged written stock sale plan in accordance with Rule 10b5-1 (the “New Mannix Rule 10b5-1 Plan”) under the Exchange Act for the sale of shares of the Company’s Class A common stock. The New Mannix Rule 10b5-1 Plan will take effect on July 1, 2024 and on June 28, 2024 Ms. Mannix’s existing Rule 10b5-1 Plan will terminate according to its terms. The New Mannix Rule 10b5-1 Plan was entered into during an open trading window in accordance with the Company’s policies regarding transactions in the Company’s securities and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The New Mannix Rule 10b5-1 Plan provides for the potential sale of shares of the Company’s Class A common stock, including upon the vesting and settlement of restricted stock units, so long as the market price of the Company’s Class A common stock is higher than certain minimum threshold prices specified in the New Mannix Rule 10b5-1 Plan, between July 1, 2024 and March 24, 2025. The aggregate number of shares of Class A common stock that will be available for sale under the New Mannix Rule 10b5-1 Plan is not yet determinable because the shares available will be net of shares sold to satisfy tax withholding obligations that arise in connection with the vesting and settlement of such restricted stock unit awards. As such, for purposes of this disclosure, the aggregate number of shares of Class A common stock available for sale is approximately 17,797, which reflects the aggregate maximum number of shares underlying Ms. Mannix’s restricted stock units which may be sold, without excluding the shares that will be sold to satisfy the tax withholding obligations. The New Mannix Rule 10b5-1 Plan includes a representation from Ms. Mannix to the broker administering the plan that she was not in possession of any material nonpublic information regarding the Company or the securities subject to the New Mannix Rule 10b5-1 Plan at the time it was entered into. A similar representation was made to the Company in connection with the adoption of the New Mannix Rule 10b5-1 Plan under the Company’s policies regarding transactions in the Company’s securities. Those representations were made as of the date of adoption of the New Mannix Rule 10b5-1 Plan, and speak only as of such date. In making those representations, there is no assurance with respect to any material nonpublic information of which Ms. Mannix was unaware, or with respect to any material nonpublic information acquired by Ms. Mannix or the Company after the date of the representation. Once executed, transactions under each of the Saintil Rule 10b5-1 Plan, the Blasing Rule 10b5-1 Plan and the New Mannix Rule 10b5-1 Plan will be disclosed publicly through Form 4 and/or Form 144 filings with the Securities and Exchange Commission in accordance with applicable securities laws, rules, and regulations. Except as may be required by law, the Company does not undertake any obligation to update or report any modification, termination, or other activity under current or future Rule 10b5-1 plans that may be adopted by Ms. Saintil, Ms. Blasing, Ms. Mannix or other officers or directors of the Company. |
Name | Erin Mannix |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 28, 2024 |
Arrangement Duration | 266 days |
Aggregate Available | 17,797 |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. |
Fiscal Year | Fiscal Year The Company's fiscal year ends on January 31. For example, references to fiscal year 2025 and 2024 refer to the fiscal year ending January 31, 2025 and the fiscal year ended January 31, 2024, respectively. |
Use of Estimates | Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue to the license element in the Company's self-managed subscriptions, estimating the amortization period for capitalized costs to obtain a contract, allowance for doubtful accounts, stock-based compensa tion expense, fair value of contingent consideration, fair valuation of retained interest in an investee on loss of control, valuation allowance for deferred income taxes, reserves for unrecognized income tax benefits, valuation of acquired intangibles assets and impairment of goodwill and equity method investments. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. |
Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries as well as a variable interest entity for which the Company is the primary beneficiary. The ownership interest of other investors is recorded as noncontrolling interest. All intercompany accounts and transactions have been eliminated in consolidation. |
Revenues (Tables)
Revenues (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table shows the components of revenues and their respective percentages of total revenue for the periods indicated (in thousands, except percentages): Three Months Ended April 30, 2024 2023 Subscription—self-managed and SaaS $ 151,179 89 % $ 111,191 88 % Subscription—self-managed 103,673 61 79,587 63 SaaS 47,506 28 31,604 25 License—self-managed and other $ 18,008 11 % $ 15,687 12 % License—self-managed 14,837 9 13,355 10 Professional services and other 3,171 2 2,332 2 Total revenue $ 169,187 100 % $ 126,878 100 % |
Revenue by Geographic Location | The following table summarizes the Company’s total revenue by geographic location based on the region of the Company’s contracting entity, which may be different than the region of the customer (in thousands): Three Months Ended April 30, 2024 2023 United States $ 137,526 $ 102,962 Europe 27,652 20,957 Asia Pacific 4,009 2,959 Total revenue $ 169,187 $ 126,878 |
Cash, Cash Equivalents and Sh_2
Cash, Cash Equivalents and Short-Term Investments (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Short Term Investments | The following table summarizes the Company’s cash equivalents and short-term investments by category (in thousands): As of April 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Level 1: Cash equivalents (1) Money market funds $ 259,744 $ — $ — $ 259,744 Level 2: Cash equivalents (1) U.S. Treasury securities 57,887 — (3) 57,884 Commercial paper 12,916 — (3) 12,913 Total cash equivalents 330,547 — (6) 330,541 Short-term investments Commercial paper 27,592 2 (17) 27,577 Corporate debt securities 212,399 30 (692) 211,737 U.S. Agency securities 48,848 — (153) 48,695 U.S. Treasury securities 353,904 — (740) 353,164 Total short-term investments 642,743 32 (1,602) 641,173 Level 2 total 713,546 32 (1,608) 711,970 Total cash equivalents and short-term investments $ 973,290 $ 32 $ (1,608) $ 971,714 (1) Included in “cash and cash equivalents” in our condensed consolidated balance sheet as of April 30, 2024, in addition to cash of $89.8 million. As of January 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Level 1: Cash equivalents (1) Money market funds $ 187,175 $ — $ — $ 187,175 Level 2: Cash equivalents (1) U.S. Treasury securities 15,909 — (2) 15,907 Commercial paper 3,962 — (1) 3,961 Total cash equivalents 207,046 — (3) 207,043 Short-term investments Commercial paper 23,229 14 (1) 23,242 Corporate debt securities 231,219 740 (250) 231,709 U.S. Agency securities 56,324 29 (136) 56,217 U.S. Treasury securities 437,369 141 (389) 437,121 Total short-term investments 748,141 924 (776) 748,289 Level 2 total 768,012 924 (779) 768,157 Total cash equivalents and short-term investments $ 955,187 $ 924 $ (779) $ 955,332 (1) Included in “cash and cash equivalents” in our condensed consolidated balance sheet as of January 31, 2024, in addition to cash of $81.0 million. |
Schedule of Unrealized Losses Cash Equivalents and Short Term Investment | The following table summarizes unrealized losses on the Company’s cash equivalents and short-term investments aggregated by category and the length of time such aggregated investments have been in a continuous unrealized loss position as of the periods presented (in thousands): Less Than 12 Months 12 Months or Greater Total Carrying Value Gross Unrealized Losses Carrying Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 30, 2024 U.S. Agency securities $ 36,247 $ (113) $ 9,448 $ (40) $ 45,695 $ (153) Commercial paper 37,421 (20) — — 37,421 (20) Corporate debt securities 168,986 (675) 13,195 (17) 182,181 (692) U.S. Treasury securities 392,924 (704) 18,124 (39) 411,048 (743) Total cash equivalents and short-term investments $ 635,578 $ (1,512) $ 40,767 $ (96) $ 676,345 $ (1,608) Less Than 12 Months 12 Months or Greater Total Carrying Value Gross Unrealized Losses Carrying Value Gross Unrealized Losses Fair Value Gross Unrealized Losses January 31, 2024 U.S. Agency securities $ 35,979 $ (53) $ 11,386 $ (83) $ 47,365 $ (136) Commercial paper 15,462 (2) — — 15,462 (2) Corporate debt securities 85,998 (192) 15,485 (58) 101,483 (250) U.S. Treasury securities 139,567 (192) 41,193 (199) 180,760 (391) Total cash equivalents and short-term investments $ 277,006 $ (439) $ 68,064 $ (340) $ 345,070 $ (779) |
Schedule of Short Term Investments by Contractual Maturity | The following table classifies the Company’s short-term investments by contractual maturities (in thousands): April 30, 2024 January 31, 2024 Amortized cost Fair Value Amortized cost Fair Value Due within 1 year $ 500,465 $ 499,318 $ 619,286 $ 618,765 Due between 1 year to 2 years 142,278 141,855 128,855 129,524 Total $ 642,743 $ 641,173 $ 748,141 $ 748,289 |
Supplemental Financial Statem_2
Supplemental Financial Statement Information (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands): April 30, 2024 January 31, 2024 Income tax liability related to BAPA (1) $ 265,254 $ 258,675 Accrued expenses 21,015 11,499 ESPP employee contributions 6,912 2,827 Acquisition related liabilities (2) 3,766 3,608 Income taxes payable 3,380 2,212 Customer refunds payable 3,335 3,019 Indirect taxes payable 2,701 3,928 Operating lease liabilities, current 371 410 Total accrued expenses and other current liabilities $ 306,734 $ 286,178 (1) Refer to “Note 12. Income Taxes” for a discussion on the unrecognized tax benefits related to the BAPA. (2) $0.1 million relates to Oxeye acquisition founder holdback (see Note 6. Business Combination |
Schedule of Other Income, Net | Other income (expense), net consisted of the following (in thousands): Three Months Ended April 30, 2024 2023 Foreign exchange gains (losses), net $ (637) $ 274 Other income (expense), net 70 (21) Total other income (expense), net $ (567) $ 253 |
Business Combination (Tables)
Business Combination (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The transaction was accounted for as a business combination. The Acquisition Date fair value of the consideration transferred consisted of the following (in thousands): Closing cash consideration $ 16,737 Cash held in escrow 3,593 Total consideration $ 20,330 The following table reflects the fair values of assets acquired and liabilities assumed (in thousands): Cash and cash equivalents $ 120 Developed technology 16,276 Goodwill 8,055 Prepaid expenses and other current assets 121 Accrued expenses and payroll (3,582) Deferred tax liability (660) Net assets acquired $ 20,330 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The carrying amount of goodwill was as follows (in thousands): Carrying Amount Balance as of January 31, 2024 $ 8,145 Acquisition of Oxeye 8,055 Foreign currency translation adjustments (130) Balance as of April 30, 2024 $ 16,070 |
Schedule of Finite-Lived Intangible Assets | Intangible assets, net consisted of the following (in thousands): April 30, 2024 (1) Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 22,192 $ (5,555) $ 16,637 2.5 Developed technology from asset acquisitions 906 (906) — 0.0 Total $ 23,098 $ (6,461) $ 16,637 January 31, 2024 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (4,467) $ 1,733 0.8 Developed technology from asset acquisitions (1) 914 (914) — 0.0 Total $ 7,114 $ (5,381) $ 1,733 (1) The amounts in the tables above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying intangibles. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of April 30, 2024, future a mortization expense related to the intangibles assets is expected to be as follows (in thousands): Fiscal Years 2025 $ 5,221 2026 5,330 2027 5,330 2028 756 Total future amortization $ 16,637 |
Equity (Tables)
Equity (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Equity [Abstract] | |
Schedule of Stock Reserved For Future Issuance | The Company had shares of common stock reserved for future issuance as follows (in thousands): April 30, 2024 January 31, 2024 Class A and Class B common stock Options issued and outstanding 7,880 8,503 Shares available for issuance under Equity Incentive Plans 30,067 24,868 RSUs and PSUs issued and outstanding 12,960 10,930 Shares reserved for issuance to charitable organizations 1,351 1,404 ESPP 6,974 5,398 Total 59,232 51,103 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The awards available for grant under the above Plans for the pe riods presented were as follows (in thousands): April 30, 2024 January 31, 2024 Available at beginning of period 24,868 21,483 Awards authorized 7,878 7,557 RSUs and PSUs granted (3,159) (6,258) RSUs and PSUs canceled and forfeited 418 1,292 Options canceled and forfeited 62 777 Options repurchased — 17 Available at end of period 30,067 24,868 |
Share-based Payment Arrangement, Option, Activity | The following table summarizes options activity under the Plans, and related information: Number of Stock Options Outstanding (in thousands) Weighted Average Exercise Price Weighted Average Remaining Years Aggregate Intrinsic value (in millions) Balances at January 31, 2024 8,503 $ 13.03 5.85 $ 499.2 Options granted — — — Options exercised (561) 9.08 — Options canceled (6) 10.11 — Options forfeited (56) 18.79 — Balances at April 30, 2024 7,880 $ 13.27 5.63 $ 312.6 Options vested at April 30, 2024 6,213 $ 11.98 5.37 $ 251.6 Options vested and expected to vest at April 30, 2024 7,880 $ 13.27 5.63 $ 312.6 |
Schedule of Restricted Stock Units Activity | The following table summarizes the Company’s RSU activity: Number of Shares (in thousands) (1) Weighted- Balances at January 31, 2024 7,701 $ 47.20 Granted 3,159 56.18 Vested (711) 47.77 Canceled/forfeited (418) 50.02 Balances at April 30, 2024 9,731 $ 49.93 (1) |
Schedule of Share Based Compensation Expense | The Company recognized stock-based compensation expense as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue $ 1,855 $ 1,414 Sales and marketing 17,397 13,764 Research and development 12,336 11,702 General and administrative 10,664 5,450 Total stock-based compensation expense (1) $ 42,252 $ 32,330 (1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Restructuring and Other Relat_2
Restructuring and Other Related Charges (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring Charges | The Company recognized severance and other termination benefit costs as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue $ — $ 417 Research and development — 2,059 Sales and marketing 730 3,559 General and administrative 276 1,618 Total (1) $ 1,006 $ 7,653 (1) Excludes stock-based compensation of zero and $1.3 million for the three months ended April 30, 2024 and 2023, respectively. |
Schedule of Restructuring Reserve by Type of Cost | The changes in liabilities resulting from the restructuring charges and related accruals were as follows (in thousands) : Balance as of January 31, 2024 $ 188 Charges 1,006 Cash payments (1,176) Balance as of April 30, 2024 (1) $ 18 (1) Balance is included in accrued compensation and benefits on the condensed consolidated balance sheet as of April 30, 2024. |
Joint Venture and Equity Meth_2
Joint Venture and Equity Method Investment (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Noncontrolling Interest [Abstract] | |
Schedule of Supplemental Information Related to Operating Leases | The table below presents supplemental information related to operating leases for the three months ended April 30, 2024 (in thousands, except weighted-average information): Weighted-average remaining lease term (in years) 0.88 Weighted-average discount rate 3.6 % Right-of-use assets obtained in exchange for new operating lease liabilities $ 284 Cash paid for amounts included in the measurement of lease liabilities $ 195 |
Schedule of Variable Interest Entities | Selected financial information of JiHu, post intercompany eliminations, is as follows (in thousands): Three Months Ended April 30, 2024 2023 Revenue $ 1,646 $ 1,464 Cost of revenue 484 491 Gross profit 1,162 973 Operating expenses: Sales and marketing 1,635 2,084 Research and development (211) 1,956 General and administrative 838 (1,444) Total operating expenses 2,262 2,596 Loss from operations (1,100) (1,623) Interest income 227 315 Other income, net 347 269 Net loss before income taxes (526) (1,039) Net loss $ (526) $ (1,039) Net loss attributable to noncontrolling interest $ (243) $ (430) April 30, 2024 January 31, 2024 Cash and cash equivalents $ 41,901 $ 43,896 Property and equipment, net 357 489 Operating lease right-of-use assets 543 405 Other assets 3,884 2,835 Total assets $ 46,685 $ 47,625 Total liabilities $ 6,071 $ 6,080 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth basic and diluted loss per share for each of the periods presented (in thousands, except per share data): Three Months Ended April 30, 2024 2023 Numerator: Net loss attributable to GitLab $ (54,644) $ (52,469) Denominator: Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted 158,157 151,692 Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted $ (0.35) $ (0.35) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands): As of April 30, 2024 January 31, 2024 Shares subject to outstanding common stock options 7,880 8,503 Unvested restricted stock in connection with business combination 2 3 Unvested early exercised stock options 17 22 Unvested RSUs and PSUs 12,960 10,930 Shares subject to the ESPP 155 63 Total 21,014 19,521 |
Revenues - Disaggregation of Re
Revenues - Disaggregation of Revenue by Product and Service (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 169,187 | $ 126,878 |
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 100% | 100% |
Subscription—self-managed and SaaS | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 151,179 | $ 111,191 |
Subscription—self-managed and SaaS | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 89% | 88% |
Subscription—self-managed | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 103,673 | $ 79,587 |
Subscription—self-managed | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 61% | 63% |
SaaS | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 47,506 | $ 31,604 |
SaaS | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 28% | 25% |
License—self-managed and other | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 18,008 | $ 15,687 |
License—self-managed and other | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 11% | 12% |
License—self-managed | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 14,837 | $ 13,355 |
License—self-managed | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 9% | 10% |
Professional services and other | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 3,171 | $ 2,332 |
Professional services and other | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percentage | 2% | 2% |
Revenues - Disaggregation of _2
Revenues - Disaggregation of Revenue by Geographic Region (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 169,187 | $ 126,878 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 137,526 | 102,962 |
Europe | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | 27,652 | 20,957 |
Asia Pacific | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 4,009 | $ 2,959 |
Revenues - Narrative (Details)
Revenues - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | |
Disaggregation of Revenue [Line Items] | |||
Deferred revenue recognized | $ 125.3 | $ 90.6 | |
Remaining performance obligation | $ 681.2 | $ 673.8 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01 | |||
Disaggregation of Revenue [Line Items] | |||
Remaining performance obligation, next twelve months (as a percent) | 64% | ||
Remaining performance obligation, next twenty four months (as a percent) | 87% | ||
Accounts Receivable | Credit Concentration Risk | Distribution Channel One | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 10% | 12% | |
Accounts Receivable | Credit Concentration Risk | Distribution Channel Two | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 14% | 13% | |
United States | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 81% | 81% |
Cash, Cash Equivalents and Sh_3
Cash, Cash Equivalents and Short-Term Investments - Schedule of Cash and Short Term Investments (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | Apr. 30, 2023 | ||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash and cash equivalents | $ 420,322 | [1] | $ 287,996 | [1] | $ 315,933 |
Cash equivalents and short-term investments, amortized cost | 973,290 | 955,187 | |||
Cash equivalents and short-term investments, gross unrealized gains | 32 | 924 | |||
Cash equivalents and short-term investments, gross unrealized losses | (1,608) | (779) | |||
Cash equivalents and short-term investments, fair value | 971,714 | 955,332 | |||
Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash equivalents and short-term investments, amortized cost | 713,546 | 768,012 | |||
Cash equivalents and short-term investments, gross unrealized gains | 32 | 924 | |||
Cash equivalents and short-term investments, gross unrealized losses | (1,608) | (779) | |||
Cash equivalents and short-term investments, fair value | 711,970 | 768,157 | |||
Cash and Cash Equivalents | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash and cash equivalents | 330,547 | 207,046 | |||
Cash equivalents, gross unrealized gains | 0 | 0 | |||
Cash equivalents, gross unrealized losses | (6) | (3) | |||
Cash equivalents, fair value | 330,541 | 207,043 | |||
Short-Term Investments | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | 642,743 | 748,141 | |||
Short-term investments, gross unrealized gains | 32 | 924 | |||
Short-term investments, gross unrealized losses | (1,602) | (776) | |||
Short-term investments, fair value | 641,173 | 748,289 | |||
Money market funds | Cash and Cash Equivalents | Level 1 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash and cash equivalents | 259,744 | 187,175 | |||
Cash equivalents, fair value | 259,744 | 187,175 | |||
U.S. Treasury securities | Cash and Cash Equivalents | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash and cash equivalents | 57,887 | 15,909 | |||
Cash equivalents, gross unrealized gains | 0 | 0 | |||
Cash equivalents, gross unrealized losses | (3) | (2) | |||
Cash equivalents, fair value | 57,884 | 15,907 | |||
U.S. Treasury securities | Short-Term Investments | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | 353,904 | 437,369 | |||
Short-term investments, gross unrealized gains | 0 | 141 | |||
Short-term investments, gross unrealized losses | (740) | (389) | |||
Short-term investments, fair value | 353,164 | 437,121 | |||
Commercial paper | Cash and Cash Equivalents | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Cash and cash equivalents | 12,916 | 3,962 | |||
Cash equivalents, gross unrealized gains | 0 | 0 | |||
Cash equivalents, gross unrealized losses | (3) | (1) | |||
Cash equivalents, fair value | 12,913 | 3,961 | |||
Commercial paper | Short-Term Investments | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | 27,592 | 23,229 | |||
Short-term investments, gross unrealized gains | 2 | 14 | |||
Short-term investments, gross unrealized losses | (17) | (1) | |||
Short-term investments, fair value | 27,577 | 23,242 | |||
Corporate debt securities | Short-Term Investments | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | 212,399 | 231,219 | |||
Short-term investments, gross unrealized gains | 30 | 740 | |||
Short-term investments, gross unrealized losses | (692) | (250) | |||
Short-term investments, fair value | 211,737 | 231,709 | |||
U.S. Agency securities | Short-Term Investments | Level 2 | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | 48,848 | 56,324 | |||
Short-term investments, gross unrealized gains | 0 | 29 | |||
Short-term investments, gross unrealized losses | (153) | (136) | |||
Short-term investments, fair value | 48,695 | 56,217 | |||
Cash | Cash and Cash Equivalents | |||||
Debt Securities, Available-for-sale [Line Items] | |||||
Short-term investments, amortized cost | $ 89,800 | $ 81,000 | |||
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Cash, Cash Equivalents and Sh_4
Cash, Cash Equivalents and Short-Term Investments - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Interest and investment income | $ 12,000 | $ 7,300 | |
Net amortization of premiums or discounts on short-term investments | 4,900 | 3,596 | |
Contingent consideration liability, current | 3,766 | $ 3,608 | |
Accretion expense | 0 | $ 0 | |
Opstrace Inc. | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent consideration liability, current | $ 3,700 | ||
Fair Value, Inputs, Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Contingent cash consideration | $ 3,600 |
Cash, Cash Equivalents and Sh_5
Cash, Cash Equivalents and Short-Term Investments - Schedule of Unrealized Losses Cash Equivalents and Short Term Investment (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Less than 12 months, carrying value | $ 635,578 | $ 277,006 |
Less than 12 months, gross unrealized losses | (1,512) | (439) |
12 months or greater, carrying value | 40,767 | 68,064 |
12 months or greater, gross unrealized losses | (96) | (340) |
Fair Value | 676,345 | 345,070 |
Gross Unrealized Losses | (1,608) | (779) |
U.S. Agency securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Less than 12 months, carrying value | 36,247 | 35,979 |
Less than 12 months, gross unrealized losses | (113) | (53) |
12 months or greater, carrying value | 9,448 | 11,386 |
12 months or greater, gross unrealized losses | (40) | (83) |
Fair Value | 45,695 | 47,365 |
Gross Unrealized Losses | (153) | (136) |
Commercial paper | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Less than 12 months, carrying value | 37,421 | 15,462 |
Less than 12 months, gross unrealized losses | (20) | (2) |
12 months or greater, carrying value | 0 | 0 |
12 months or greater, gross unrealized losses | 0 | 0 |
Fair Value | 37,421 | 15,462 |
Gross Unrealized Losses | (20) | (2) |
Corporate debt securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Less than 12 months, carrying value | 168,986 | 85,998 |
Less than 12 months, gross unrealized losses | (675) | (192) |
12 months or greater, carrying value | 13,195 | 15,485 |
12 months or greater, gross unrealized losses | (17) | (58) |
Fair Value | 182,181 | 101,483 |
Gross Unrealized Losses | (692) | (250) |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | ||
Less than 12 months, carrying value | 392,924 | 139,567 |
Less than 12 months, gross unrealized losses | (704) | (192) |
12 months or greater, carrying value | 18,124 | 41,193 |
12 months or greater, gross unrealized losses | (39) | (199) |
Fair Value | 411,048 | 180,760 |
Gross Unrealized Losses | $ (743) | $ (391) |
Cash, Cash Equivalents and Sh_6
Cash, Cash Equivalents and Short-Term Investments - Schedule of Short Term Investments by Contractual Maturity (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Amortized cost | ||
Due within 1 year | $ 500,465 | $ 619,286 |
Due between 1 year to 2 years | 142,278 | 128,855 |
Total | 642,743 | 748,141 |
Fair Value | ||
Due within 1 year | 499,318 | 618,765 |
Due between 1 year to 2 years | 141,855 | 129,524 |
Total | $ 641,173 | $ 748,289 |
Supplemental Financial Statem_3
Supplemental Financial Statement Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | |
Business Acquisition [Line Items] | |||
Income tax liability related to BAPA | $ 265,254 | $ 258,675 | |
Accrued expenses | 21,015 | 11,499 | |
ESPP employee contributions | 6,912 | 2,827 | |
Acquisition related liabilities | 3,766 | 3,608 | |
Income taxes payable | 3,380 | 2,212 | |
Customer refunds payable | 3,335 | 3,019 | |
Indirect taxes payable | 2,701 | 3,928 | |
Operating lease liabilities, current | $ 371 | $ 410 | |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Total accrued expenses and other current liabilities | Total accrued expenses and other current liabilities | |
Total accrued expenses and other current liabilities | [1] | $ 306,734 | $ 286,178 |
Oxeye Security Limited | |||
Business Acquisition [Line Items] | |||
Acquisition related liabilities | 100 | ||
Opstrace Inc. | |||
Business Acquisition [Line Items] | |||
Acquisition related liabilities | $ 3,700 | ||
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_4
Supplemental Financial Statement Information - Other Income, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Foreign exchange gains (losses), net | $ (637) | $ 274 |
Other income (expense), net | 70 | (21) |
Total other income (expense), net | $ (567) | $ 253 |
Business Combination - Schedule
Business Combination - Schedule of Total Consideration Transferred (Details) - Oxeye Security Limited - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 20, 2024 | Apr. 30, 2024 | |
Business Acquisition [Line Items] | ||
Closing cash consideration | $ 16,737 | |
Cash held in escrow | 3,593 | |
Total consideration | $ 20,330 | $ 20,300 |
Business Combination - Narrativ
Business Combination - Narrative (Details) $ in Thousands | 3 Months Ended | |
Mar. 20, 2024 USD ($) co-founder tranche | Apr. 30, 2024 USD ($) | |
Business Acquisition [Line Items] | ||
Number of co-founders | co-founder | 2 | |
Oxeye Security Limited | ||
Business Acquisition [Line Items] | ||
Cash held in escrow | $ 3,593 | |
Post-closing indemnification term | 15 months | |
Acquisition related costs | $ 1,300 | |
Total consideration | $ 20,330 | 20,300 |
Oxeye Security Limited | Founder Holdback | ||
Business Acquisition [Line Items] | ||
Contingent payment | $ 3,200 | |
Number of contingent payment tranches | tranche | 3 | |
Founder holdback consideration expense | $ 100 | |
Oxeye Security Limited | Founder Holdback | Business Combination, Contingent Consideration, Tranche One | ||
Business Acquisition [Line Items] | ||
Contingent payment, time-based vesting, percentage | 33.30% | |
Oxeye Security Limited | Founder Holdback | Business Combination, Contingent Consideration, Tranche Two | ||
Business Acquisition [Line Items] | ||
Contingent payment, time-based vesting, percentage | 33.30% | |
Oxeye Security Limited | Founder Holdback | Business Combination, Contingent Consideration, Tranche Three | ||
Business Acquisition [Line Items] | ||
Contingent payment, time-based vesting, percentage | 33.30% | |
Oxeye Security Limited | Developed Technology | ||
Business Acquisition [Line Items] | ||
Intangible assets acquired, useful life | 3 years |
Business Combination - Schedu_2
Business Combination - Schedule of Preliminary Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Mar. 20, 2024 | Jan. 31, 2024 | |
Business Acquisition [Line Items] | ||||
Goodwill | [1] | $ 16,070 | $ 8,145 | |
Oxeye Security Limited | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | $ 120 | |||
Goodwill | 8,055 | |||
Prepaid expenses and other current assets | 121 | |||
Accrued expenses and payroll | (3,582) | |||
Deferred tax liability | (660) | |||
Net assets acquired | 20,330 | |||
Oxeye Security Limited | Developed Technology | ||||
Business Acquisition [Line Items] | ||||
Developed technology | $ 16,276 | |||
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Rollforward of Goodwill (Details) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 USD ($) | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | $ 8,145 | [1] |
Acquisition of Oxeye | 8,055 | |
Foreign currency translation adjustments | (130) | |
Goodwill, ending balance | $ 16,070 | [1] |
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill impairment | $ 0 | $ 0 | |
Amortization of intangible assets | $ 1,087,000 | $ 579,000 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 23,098 | $ 7,114 |
Accumulated Amortization | (6,461) | (5,381) |
Total future amortization | 16,637 | 1,733 |
Developed technology from business combination | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 22,192 | 6,200 |
Accumulated Amortization | (5,555) | (4,467) |
Total future amortization | $ 16,637 | $ 1,733 |
Weighted average remaining amortization period (years) | 2 years 6 months | 9 months 18 days |
Developed technology from asset acquisitions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 906 | $ 914 |
Accumulated Amortization | (906) | (914) |
Total future amortization | $ 0 | $ 0 |
Weighted average remaining amortization period (years) | 0 years | 0 years |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets, Net - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2025 | $ 5,221 | |
2026 | 5,330 | |
2027 | 5,330 | |
2028 | 756 | |
Total future amortization | $ 16,637 | $ 1,733 |
Team Member Benefit Plans (Deta
Team Member Benefit Plans (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Retirement Benefits [Abstract] | ||
Defined contribution plan, contribution amount | $ 1.8 | $ 1.7 |
Equity - Narrative (Details)
Equity - Narrative (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Feb. 01, 2024 shares | Jun. 30, 2022 shares | May 31, 2021 USD ($) shares | Apr. 30, 2024 USD ($) distribution shares | Apr. 30, 2023 USD ($) shares | Jan. 31, 2024 shares | Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Sep. 30, 2021 shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Awards authorized (in shares) | shares | 7,878,000 | 7,557,000 | |||||||
Total stock-based compensation expense | $ 42,252 | $ 32,330 | |||||||
Compensation expense not yet recognized | 17,600 | ||||||||
Grant date fair value of RSUs granted | $ 8,800 | ||||||||
Tax benefit for stock-based compensation expense | $ 0 | 2,800 | |||||||
Number of distributions, donation | distribution | 4 | ||||||||
Charitable donation of common stock | $ 2,957 | 2,675 | |||||||
Shares subject to outstanding common stock options | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total stock-based compensation expense | $ 3,500 | 4,800 | |||||||
Period for recognition (in years) | 1 year 4 months 24 days | ||||||||
RSUs | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total stock-based compensation expense | $ 35,500 | 23,200 | |||||||
Compensation expense not yet recognized | $ 468,500 | ||||||||
Period for recognition (in years) | 3 years 1 month 6 days | ||||||||
RSUs | Chief Executive Officer | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total stock-based compensation expense | $ 400 | 400 | |||||||
Period for recognition (in years) | 4 years 7 months 6 days | ||||||||
Compensation expense not yet recognized | $ 3,900 | ||||||||
RSUs | Minimum | Chief Executive Officer | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Period for recognition (in years) | 2 years | ||||||||
RSUs | Maximum | Chief Executive Officer | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Period for recognition (in years) | 7 years | ||||||||
PSUs | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total stock-based compensation expense | $ 600 | 400 | |||||||
Period for recognition (in years) | 1 year 7 months 6 days | ||||||||
RSUs granted in period (in shares) | shares | 400,000 | ||||||||
Award vesting percentage | 100% | ||||||||
Compensation expense not yet recognized | $ 2,300 | ||||||||
PSUs | Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award vesting percentage | 0% | ||||||||
PSUs | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award vesting percentage | 200% | ||||||||
2021 Equity Incentive Plan | RSUs | Minimum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award vesting period (in years) | 2 years | ||||||||
2021 Equity Incentive Plan | RSUs | Maximum | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Award vesting period (in years) | 4 years | ||||||||
2021 Employee Stock Purchase Plan | ESPP | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total stock-based compensation expense | $ 2,600 | $ 4,500 | |||||||
Period for recognition (in years) | 1 year 7 months 6 days | ||||||||
Compensation expense not yet recognized | $ 10,100 | ||||||||
Class B Common Stock | RSUs | Chief Executive Officer | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
RSUs granted in period (in shares) | shares | 3,000,000 | ||||||||
Class A Common Stock | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Common stock reserved for future issuance (in shares) | shares | 1,635,545 | ||||||||
Aggregate principal amount, donation | $ 11,800 | $ 10,700 | |||||||
Charitable donation of common stock (in shares) | shares | 53,226 | 80,742 | |||||||
Charitable donation of common stock | $ 3,000 | $ 2,700 | |||||||
Class A Common Stock | 2021 Equity Incentive Plan | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Awards authorized (in shares) | shares | 7,877,919 | ||||||||
Class A Common Stock | 2021 Employee Stock Purchase Plan | ESPP | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Awards authorized (in shares) | shares | 1,575,583 |
Equity - Schedule of Stock Rese
Equity - Schedule of Stock Reserved For Future Issuance (Details) - shares shares in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | Jan. 31, 2023 |
Class of Stock [Line Items] | |||
Options issued and outstanding (in shares) | 7,880 | 8,503 | |
Shares available for issuance under Equity Incentive Plans (in shares) | 30,067 | 24,868 | 21,483 |
Class A and Class B common stock | |||
Class of Stock [Line Items] | |||
Options issued and outstanding (in shares) | 7,880 | 8,503 | |
Shares available for issuance under Equity Incentive Plans (in shares) | 30,067 | 24,868 | |
Shares reserved for issuance to charitable organizations (in shares) | 1,351 | 1,404 | |
Common stock reserved for future issuance (in shares) | 59,232 | 51,103 | |
RSUs and PSUs | Class A and Class B common stock | |||
Class of Stock [Line Items] | |||
Share-based compensation awards other than options (in shares) | 12,960 | 10,930 | |
ESPP | Class A and Class B common stock | |||
Class of Stock [Line Items] | |||
Share-based compensation awards other than options (in shares) | 6,974 | 5,398 |
Equity - Awards Available for G
Equity - Awards Available for Grant (Details) - shares shares in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2024 | Jan. 31, 2024 | |
Share-based Compensation Arrangement by Share-based Payment Award, Awards Available For Grant [Roll Forward] | ||
Balance, beginning of period (in shares) | 24,868 | 21,483 |
Awards authorized (in shares) | 7,878 | 7,557 |
Options cancelled and forfeited (in shares) | 62 | 777 |
Options repurchased (in shares) | 0 | 17 |
Balance, end of period (in shares) | 30,067 | 24,868 |
RSUs and PSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award, Awards Available For Grant [Roll Forward] | ||
RSUs and PSUs granted (in shares) | (3,159) | (6,258) |
RSUs and PSUs cancelled and forfeited (in shares) | 418 | 1,292 |
Equity - Summary of Stock Optio
Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended |
Apr. 30, 2024 | Jan. 31, 2024 | |
Number of Stock Options Outstanding (in thousands) | ||
Balance, beginning of period (in shares) | 8,503 | |
Options granted (in shares) | 0 | |
Options exercised (in shares) | (561) | |
Options cancelled (in shares) | (6) | |
Options forfeited (in shares) | (56) | |
Balance, end of period (in shares) | 7,880 | 8,503 |
Options vested (in shares) | 6,213 | |
Options expected to vest (in shares) | 7,880 | |
Weighted Average Exercise Price | ||
Balance, beginning of period (in USD per share) | $ 13.03 | |
Options granted (in USD per share) | 0 | |
Options exercised (in USD per share) | 9.08 | |
Options cancelled (in USD per share) | 10.11 | |
Options forfeited (in USD per share) | 18.79 | |
Balance, end of period (in USD per share) | 13.27 | $ 13.03 |
Options vested (in USD per share) | 11.98 | |
Options expected to vest (in USD per share) | $ 13.27 | |
Weighted Average Remaining Years | ||
Outstanding (in years) | 5 years 7 months 17 days | 5 years 10 months 6 days |
Options vested (in years) | 5 years 4 months 13 days | |
Options expected to vest (in years) | 5 years 7 months 17 days | |
Aggregate Intrinsic value (in millions) | ||
Outstanding value | $ 312.6 | $ 499.2 |
Options vested | 251.6 | |
Options expected to vest | $ 312.6 |
Equity - Schedule of Restricted
Equity - Schedule of Restricted Stock Units Activity (Details) - RSUs shares in Thousands | 3 Months Ended |
Apr. 30, 2024 $ / shares shares | |
Number of Shares | |
Balance, beginning of period (in shares) | 7,701 |
Granted (in shares) | 3,159 |
Vested (in shares) | (711) |
Canceled/forfeited (in shares) | (418) |
Balance, ending of period (in shares) | 9,731 |
Weighted- Average grant date fair value | |
Balance, beginning of period (in USD per share) | $ / shares | $ 47.20 |
Granted (in USD per share) | $ / shares | 56.18 |
Vested (in USD per share) | $ / shares | 47.77 |
Canceled/forfeited (in USD per share) | $ / shares | 50.02 |
Balance, ending of period (in USD per share) | $ / shares | $ 49.93 |
Chief Executive Officer | |
Number of Shares | |
Granted (in shares) | 3,000 |
Equity - Stock-Based Compensati
Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 42,252 | $ 32,330 |
Cost of revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 1,855 | 1,414 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 17,397 | 13,764 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 12,336 | 11,702 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 10,664 | $ 5,450 |
Restructuring and Other Relat_3
Restructuring and Other Related Charges - Narrative (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Feb. 28, 2023 | Apr. 30, 2024 | Apr. 30, 2023 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 1,000 | $ 9,000 | |
Positions eliminated, percent | 7% | ||
Employee Severance | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | 1,006 | 7,653 | |
One-time Termination Benefits | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring charges | $ 0 | $ 1,300 |
Restructuring and Other Relat_4
Restructuring and Other Related Charges - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | $ 1,000 | $ 9,000 |
Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 1,006 | 7,653 |
One-time Termination Benefits | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 0 | 1,300 |
Cost of revenue | Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 0 | 417 |
Research and development | Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 0 | 2,059 |
Sales and marketing | Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | 730 | 3,559 |
General and administrative | Employee Severance | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring charges | $ 276 | $ 1,618 |
Restructuring and Other Relat_5
Restructuring and Other Related Charges - Restructuring Accrual (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Restructuring Reserve [Roll Forward] | ||
Charges | $ 1,000 | $ 9,000 |
Employee Severance | ||
Restructuring Reserve [Roll Forward] | ||
Beginning balance | 188 | |
Charges | 1,006 | $ 7,653 |
Cash payments | (1,176) | |
Ending balance | $ 18 |
Joint Venture and Equity Meth_3
Joint Venture and Equity Method Investment - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | |
Noncontrolling Interest [Line Items] | |||
Stock-based compensation | $ 42,252 | $ 32,330 | |
Operating lease, total lease payments | 500 | ||
Operating lease liabilities | 500 | ||
Operating lease expense | 200 | 200 | |
Impairment of equity method investment | $ (8,900) | ||
Equity method investment | $ 0 | ||
Loss from equity method investment, net of tax | 0 | (748) | |
Arch (Meltano Inc.) | |||
Noncontrolling Interest [Line Items] | |||
Loss from equity method investment, net of tax | $ 0 | 700 | |
GitLab Information Technology (Hubei) Co., LTD ("JiHu") | |||
Noncontrolling Interest [Line Items] | |||
Ownership percentage | 54% | ||
GitLab Information Technology (Hubei) Co., LTD ("JiHu") | |||
Noncontrolling Interest [Line Items] | |||
Stock-based compensation | $ (300) | $ (2,500) | |
Compensation expense not yet recognized | $ 1,200 | ||
Period for recognition (in years) | 3 years 7 months 6 days |
Joint Venture and Equity Meth_4
Joint Venture and Equity Method Investment - Supplemental Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Leases [Abstract] | ||
Weighted-average remaining lease term (in years) | 10 months 17 days | |
Weighted-average discount rate | 3.60% | |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 284 | $ 0 |
Cash paid for amounts included in the measurement of lease liabilities | $ 195 |
Joint Venture and Equity Meth_5
Joint Venture and Equity Method Investment - Schedule of Intercompany Eliminations (Details) - USD ($) | 3 Months Ended | |||||
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | ||||
Noncontrolling Interest [Line Items] | ||||||
Revenue | $ 169,187,000 | $ 126,878,000 | ||||
Cost of revenue | 18,776,000 | 13,939,000 | ||||
Gross profit | 150,411,000 | 112,939,000 | ||||
Sales and marketing | 92,424,000 | 86,537,000 | ||||
Total operating expenses | 204,051,000 | 171,172,000 | ||||
Loss from operations | (53,640,000) | (58,233,000) | ||||
Interest income | 12,030,000 | 7,315,000 | ||||
Total other income (expense), net | (567,000) | 253,000 | ||||
Net loss | (54,887,000) | (52,899,000) | ||||
Net loss attributable to noncontrolling interest | (243,000) | (430,000) | ||||
Cash and cash equivalents | 420,322,000 | [1] | 315,933,000 | $ 287,996,000 | [1] | |
Property and equipment, net | [1] | 2,820,000 | 2,954,000 | |||
Operating lease right-of-use assets | 543,000 | [1] | 405,000 | |||
TOTAL ASSETS | [1] | 1,321,627,000 | 1,317,861,000 | |||
Total liabilities | [1] | 707,269,000 | 699,927,000 | |||
Variable Interest Entity, Primary Beneficiary | ||||||
Noncontrolling Interest [Line Items] | ||||||
Revenue | 1,646,000 | 1,464,000 | ||||
Cost of revenue | 484,000 | 491,000 | ||||
Gross profit | 1,162,000 | 973,000 | ||||
Sales and marketing | 1,635,000 | 2,084,000 | ||||
Research and development | (211,000) | 1,956,000 | ||||
General and administrative | 838,000 | (1,444,000) | ||||
Total operating expenses | 2,262,000 | 2,596,000 | ||||
Loss from operations | (1,100,000) | (1,623,000) | ||||
Interest income | 227,000 | 315,000 | ||||
Total other income (expense), net | 347,000 | 269,000 | ||||
Net loss before income taxes | (526,000) | (1,039,000) | ||||
Net loss | (526,000) | (1,039,000) | ||||
Net loss attributable to noncontrolling interest | (243,000) | $ (430,000) | ||||
Cash and cash equivalents | 41,901,000 | 43,896,000 | ||||
Property and equipment, net | 357,000 | 489,000 | ||||
Operating lease right-of-use assets | 543,000 | 405,000 | ||||
Other assets | 3,884,000 | 2,835,000 | ||||
TOTAL ASSETS | 46,685,000 | 47,625,000 | ||||
Total liabilities | $ 6,071,000 | $ 6,080,000 | ||||
[1] (1) As of April 30, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $46.7 million and $47.6 million, respectively, and liabilities of $6.1 million and $6.1 million , respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the genera l credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | Jan. 31, 2024 | |
Income Tax Disclosure [Abstract] | |||
Provision for income taxes | $ 12,710 | $ 1,486 | |
Loss before income taxes and loss from equity method investment | 42,177 | $ 50,665 | |
Unrecognized tax benefits | 398,300 | ||
Unrecognized tax benefits that would effect tax rate | 210,300 | ||
Unrecognized tax benefits, current | 209,700 | ||
Interest and penalties recognized | 56,700 | $ 52,100 | |
Unrecognized tax benefits, income tax penalties expense | $ 8,700 | $ 254,900 |
Net Loss per Share - Schedule o
Net Loss per Share - Schedule of Earning Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Numerator: | ||
Net loss attributable to GitLab, basic | $ (54,644) | $ (52,469) |
Net loss attributable to GitLab, diluted | $ (54,644) | $ (52,469) |
Denominator: | ||
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in shares) | 158,157 | 151,692 |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in shares) | 158,157 | 151,692 |
Net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in USD per share) | $ (0.35) | $ (0.35) |
Net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in USD per share) | $ (0.35) | $ (0.35) |
Net Loss per Share - Schedule_2
Net Loss per Share - Schedule of Potentially Dilutive Securities (Details) - shares shares in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2024 | Jan. 31, 2024 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 21,014 | 19,521 |
Shares subject to outstanding common stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 7,880 | 8,503 |
Unvested restricted stock in connection with business combination | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 2 | 3 |
Unvested early exercised stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 17 | 22 |
Unvested RSUs and PSUs | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 12,960 | 10,930 |
Shares subject to the ESPP | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities (in shares) | 155 | 63 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Apr. 30, 2024 | Jan. 31, 2024 |
Commitments and Contingencies Disclosure [Abstract] | ||
Purchase obligation | $ 136.8 | |
Estimate of possible loss | $ 2.1 | $ 2.2 |
Subsequent Event (Details)
Subsequent Event (Details) $ in Millions | May 23, 2024 USD ($) |
Rezilion Asset Acquisition | Subsequent Event | |
Subsequent Event [Line Items] | |
Asset acquisition, consideration transferred | $ 7.3 |