GitLab Inc. (NASDAQ:GTLB) posted its first-quarter results after Tuesday’s closing bell, beating analyst estimates. Here's a look at the details inside the report.
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GitLab Q1 Details
GitLab reported quarterly earnings of 23 cents per share, which beat the analyst estimate of 21 cents, according to Benzinga Pro data.
Quarterly revenue clocked in at $264.16 million, which beat the Street estimate of $254.56 million.
The company also said the board has approved a restructuring plan including a 14% reduction to its full-time workforce (350 team members) and the exit of 22 countries to reduce its employee geographic footprint by about 37%.
“The agentic era is creating structural tailwinds for GitLab, and Q1 showed it clearly with accelerating platform activity and promising traction from GitLab Duo Agent Platform,” said Bill Staples, GitLab CEO.
“GitLab is the only platform that spans the full software lifecycle with one control plane, one data model, and cloud and AI model neutrality,” Staples added.
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Looking Ahead
GitLab raised its fiscal 2027 adjusted EPS guidance to 79 cents to 82 cents, versus the 81 cent analyst estimate, and raised its revenue outlook to $1.112 billion to $1.118 billion, versus the $1.112 billion estimate.
GTLB Stock Price Activity: According to data from Benzinga Pro, GitLab stock climbed 6.98% to $34.04 in Tuesday's extended trading.
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