AI Earnings Predictions for GitLab Inc. (GTLB)

EX-99.1

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Exhibit 99.1

GitLab Reports First Quarter Fiscal Year 2027 Financial Results

First Quarter Fiscal Year 2027 Highlights:

•Total revenue of $264.2 million, up 23% year-over-year

•GAAP operating margin of (6)%; non-GAAP operating margin of 14%

•Operating cash flow of $149.2 million and non-GAAP adjusted free cash flow of $146.7 million

San Francisco (June 2, 2026) -All-Remote-GitLab Inc. (NASDAQ: GTLB), the intelligent orchestration platform for DevSecOps, today reported financial results for its first quarter fiscal year of 2027, ended April 30, 2026.

“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 chief executive officer. “GitLab is the only platform that spans the full software lifecycle with one control plane, one data model, and cloud and AI model neutrality. As our largest customers come to us with new needs around security, governance, and orchestration at machine scale, we are evolving GitLab to be the trusted enterprise platform for software creation in the AI era.”

“Our team delivered a strong first quarter with 23% revenue growth and 2 points of operating margin expansion,” said Jessica Ross, GitLab chief financial officer. “Our solid financial foundation gives us the flexibility to invest deliberately behind our highest-return initiatives, while returning capital to shareholders through our ongoing share repurchase program.”

First Quarter Fiscal Year 2027 Financial Highlights (in millions, except per share data and percentages):

Q1 FY 2027

Q1 FY 2026

Y/Y Change

Revenue$264.2 $214.5 23 %

GAAP Gross margin86 %88 %

Non-GAAP Gross margin88 %90 %

GAAP Operating margin(6)%(16)%

Non-GAAP Operating margin14 %12 %

GAAP Operating loss$(15.7)$(34.6)$18.9

Non-GAAP Operating income$37.5 $26.1 $11.4

GAAP Net loss attributable to GitLab$(5.0)$(35.9)$30.9

Non-GAAP Net income attributable to GitLab$39.0 $29.4 $9.6

GAAP Net loss per share attributable to GitLab, basic$(0.03)$(0.22)$0.19

GAAP Net loss per share attributable to GitLab, diluted$(0.03)$(0.22)$0.19

Non-GAAP Net income per share attributable to GitLab, basic$0.23 $0.18 $0.05

Non-GAAP Net income per share attributable to GitLab, diluted$0.23 $0.17 $0.06

GAAP net cash provided by operating activities$149.2 $106.3 $42.9

Non-GAAP adjusted free cash flow$146.7 $104.1 $42.6

A reconciliation between GAAP and non-GAAP financial measures is contained in this release under the section titled “Non-GAAP Financial Measures.”

Additional First Quarter Fiscal Year 2027 Financial Highlights:

•Customers with more than $5,000 of ARR reached 10,831, an increase of 7% year-over-year.

•Customers with more than $100,000 of ARR reached 1,519, an increase of 18% year-over-year.

•Dollar-Based Net Retention Rate was 117%.

•Total RPO grew 18% year-over-year to $1.1 billion, while cRPO grew 24% to $724.1 million.

Business Highlights:

•Extended agentic AI across the software lifecycle with new automated security remediation, pipeline configuration, and delivery analytics, and broadened access to GitLab Duo Agent Platform for free tier users, including flat-rate agentic code reviews and spending caps for predictable cost controls.

•Deepened integration with Anthropic’s Claude models, giving GitLab customers access to the latest Claude capabilities within the same governance, compliance, and audit framework that governs every other action in GitLab.

•Announced collaborations with AWS and Google Cloud to bring agentic DevSecOps to enterprise teams, enabling joint customers to power GitLab Duo Agent Platform with Amazon Bedrock or Vertex AI using the models, governance, and cloud commitments they already have in place.

•Received the 2026 Google Cloud Technology Partner of the Year Award in the Application Development - DevSecOps category for the sixth consecutive year.

•In the quarter, GitLab repurchased approximately 2.4 million shares.

Subsequent Event:

•GitLab also announced it is reducing its full-time workforce by approximately 14%, or 350 team members to realign its operating structure to optimize execution against its strategic priorities. GitLab also expects to exit 22 countries to reduce its team member geographic footprint by approximately 37%. It estimates that it will incur approximately $30 million to $35 million in pre-tax restructuring charges, consisting primarily of one-time severance, employee termination benefit costs, and retention costs associated with the execution of the Plan, of which approximately $19 million is expected to be incurred in the second quarter of fiscal year 2027, with the majority of the remainder expected to be recognized over the following three quarters. The Company expects the plan to be substantially complete by the end of fiscal 2027. Additional costs associated with the plan may be identified

EX-99.1

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Exhibit 99.1

GitLab Act 2

A letter to our customers and our investors.

We've been working through some significant changes inside GitLab over the past few days, and I want to share them with you directly. The email I sent the team is included below for full context.

The agentic era affords GitLab the largest opportunity in our history as a company, and we're making the structural and strategic decisions to meet it.

This letter has three parts. First, the operational and structural news, which is hard. Second, the strategic thesis we're betting on. And finally, what this means specifically for you, our customers and investors.

The structural news

This morning we shared with team members that we're beginning a restructuring process at GitLab, and we're running it differently than most. The planning is happening openly, including a voluntary separation window. That creates real uncertainty for our team over the next few weeks, but we believe the outcome will be better for it. Where we can, we plan to finalize the new shape of the company on or before June 1. Where local requirements apply we will not make any changes until the local process is complete.

Four operational changes are part of the workforce reduction.

1.We're reevaluating our operational footprint, and are planning to reduce the number of countries by up to 30% where we have small teams. We'll continue serving customers in those markets through our partner network.

2.We're planning to flatten the organization, removing up to three layers of management in some functions so leaders are closer to the work.

3.We’re re-organizing R&D to create roughly 60 smaller, more empowered teams with end-to-end ownership, nearly doubling the number of independent teams.

4.We're rewiring internal processes with AI agents, automating the reviews, approvals, and handoffs to speed us up, and plan to right-size roles across the company to follow suit.

Operational changes and the update to our strategy are happening together: they are related but independent. Operationally, we grew into a shape that was right for the last era and isn't right for this one. The strategy below is what we're betting on next, and stands on its own.

We are reaffirming our Q1 and full year FY27 guidance today. The final scope and financial impact of the restructuring will be shared on our June 2 earnings call, once we’ve finished the plan and received approval by our board.

Our Core Beliefs

Underpinning the changes we’re making today, and our go forward strategy are 10 core beliefs that span the world we’re building for, the architectural bets we’re making and how we’ll deliver.

The world we're building for

We’re evolving our strategy to optimize for the future state of software engineering:

1- Software will be built by machines, directed by people. AI is the substrate on which future software gets built. Agents will plan, code, review, deploy, and repair. Humans still own the judgment that matters most: architecture, deep understanding of the customer problem, the tradeoffs that require taste. This is why we built and released the Duo Agent Platform in January. Our first quarter adoption is promising, and we're ready to accelerate.

2- The agentic era multiplies demand for software. Software has been the force multiplier behind nearly every business transformation of the last two decades. The constraint was the cost and time of producing and managing it. That constraint is collapsing. As the cost of producing software collapses, demand for it will expand. Last year, the developer platform market used to be measured in tens of dollars per user per month, this year it is hundreds/user/month and headed to thousands. Not only is the value of software for builders increasing, but we believe there will be more software and builders than ever, and we will serve an increasing volume of both.

3- The consequential work belongs to engineers. Engineering has always been about more than writing code. Great engineers are problem solvers and builders who care about system design, distributed systems, reasoning through failures, safely integrating new capability into critical systems, and making decisions under ambiguity. These are exactly the skills the agentic era needs more of, especially as the volume of software increases. The supply of deep technical problems is multiplying, and the engineers who can solve them will be among the scarcest and most valuable talent in the market. Our core users’ roles are evolving, their importance is only increasing.

The architectural bets we're making

Platforms that weren't built for machine scale are starting to break under it. Winning means investing in the fundamentals that really matter: security, performance, scalability, reliability and user experience. We're making five, fundamental architectural bets. Each one is underway and we plan to deliver without disruption to GitLab customer

gtlb-202603020001653482FALSE00016534822026-03-022026-03-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 2, 2026

GITLAB INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware001-4089547-1861035 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

Address Not Applicable1 Zip Code Not Applicable1

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: Not Applicable Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0000025 per share GTLB The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1 We are a remote-only company. Accordingly, we do not maintain a headquarters. For purposes of compliance with applicable requirements of the Securities Act and Securities Exchange Act of 1934, as amended, any stockholder communication required to be sent to our principal executive offices may be directed to the agent for service of process at Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808, or to the email address: reach.gitlab@gitlab.com.

Item 2.02 Results of Operations and Financial Condition. On March 3, 2026, GitLab Inc. (the “Company”) issued a press release announcing its financial results for the full fiscal year 2026 and the quarter ended January 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is furnished herewith as Exhibit 99.1. The Company also announced that it would hold a conference call to discuss its financial results for the full fiscal year 2026 and the fourth quarter ended January 31, 2026. The Company makes reference to non-GAAP financial information in the Company’s press release and the webcast call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release. The information contained herein, including the accompanying Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing. Item 7.01 Regulation FD Disclosure. On March 3, 2026, the Company posted supplemental investor materials on the Investors Relations section of its website, available at ir.gitlab.com. The Company announces material information to the public through filings with the Securities and Exchange Commission, the investor relations page on the Company’s website, press releases, public conference calls, webcasts, the Company’s X (Twitter) account (@gitlab), the Company’s Facebook page, the Company’s LinkedIn page, the Company’s news site, available at https://about.gitlab.com/press/, and blog posts on the Company’s corporate blog at https://about.gitlab.com/blog/ in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. The information disclosed by the foregoing channels could be deemed to be material information. As such, the Company encourages investors