GitLab Inc. has recently released its 10-K report, providing a detailed insight into the company's financial performance and operations. GitLab, together with its subsidiaries, specializes in developing software for the software development lifecycle, offering a single application, GitLab, which facilitates faster cycle time and provides visibility and control over various stages of the DevOps lifecycle. The company's platform assists organizations in planning, building, securing, and deploying software to drive business outcomes, and it also provides related training and professional services. GitLab was founded in 2011 and is headquartered in San Francisco, California.
In the 10-K report, GitLab's management discusses the financial condition and results of operations for the year ended January 31, 2025, compared to the previous year. The report highlights the company's focus on software development and delivery, emphasizing the need for digital transformation across industries. GitLab's DevSecOps platform is designed to bring together all stakeholders in the software delivery lifecycle, from development teams to operations teams to security teams, to build better, more secure software faster.
The report also delves into key business metrics, such as the Dollar-Based Net Retention Rate and the number of customers with Annual Recurring Revenue (ARR) of $100,000 or more. GitLab's Dollar-Based Net Retention Rate stood at 123% as of January 31, 2025, indicating a strong ability to retain and expand revenue generated from existing customers. Moreover, the number of customers with $100,000 ARR or more has shown significant growth over the years, reaching 1,229 as of January 31, 2025, compared to 955 in 2024 and 697 in 2023.
The report also provides a breakdown of GitLab's revenue streams, including subscription revenue from self-managed and SaaS offerings, license revenue, and other professional services revenue. For the fiscal year ended January 31, 2025, the company reported total revenue of $759.2 million, a substantial increase from $579.9 million in the previous year.
Furthermore, the report details GitLab's cost of revenue, operating expenses, interest income, and other income (expense), providing insights into the company's financial performance and cost structure. The 10-K report offers a comprehensive overview of GitLab's financial health and strategic direction, reflecting its position as a key player in the software development and DevOps space. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $50.95. Check out the company's full 10-K submission here.
