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Friday 6 November 2026
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GitLab Inc.
GTLB Technology Software Infrastructure
GitLab Inc.’s revenue for fiscal 2026 (year ended January 2026) was $955.2 million, up 25.8% from fiscal 2025.
- Revenue
- +21.3%
- EPS
- −266.7%
- Free cash flow
- −107.1%
Quarter to July 2026, against a year earlier
49.17
3.20
−6.11%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to January
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM Jul ’26 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 81 | 152 | 253 | 424 | 580 | 759 | 955 | 1,055 | +50.8% | 1,132 | 1,310 | 1,524 | +16.8% | |
| Gross margin, % | — | — | — | 88.46 | 87.87 | 88.13 | 87.82 | 89.70 | 88.79 | 87.36 | 85.75 | (1.1) pt | ||||||
| EBT | — | — | — | (130) | (189) | (159) | (175) | (161) | (86) | (48) | (49) | (15.2%) | ||||||
| EBT margin, % | — | — | — | (159.48) | (124.44) | (62.96) | (41.31) | (27.69) | (11.30) | (5.03) | (4.69) | +154.5 pt | ||||||
| Net income | — | 0 | — | (131) | (192) | (158) | (182) | (430) | (9) | (59) | (54) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 1.72 | 3.02 | 3.17 | 2.86 | 3.76 | 4.73 | 5.73 | 6.25 | +22.2% | |||||
| Earnings | — | — | — | (2.76) | (3.82) | (1.95) | (1.16) | (2.75) | (0.02) | (0.34) | (0.32) | (29.5%) | ||||||
| Cash flow | — | — | — | (1.27) | (1.46) | (0.62) | (0.52) | 0.23 | (0.40) | 1.40 | 1.32 | n/m | ||||||
| Capex | — | — | — | 0.00 | (0.02) | (0.04) | (0.04) | (0.01) | (0.02) | (0.06) | (0.06) | n/m | ||||||
| Free cash flow | — | — | — | (1.27) | (1.48) | (0.67) | (0.56) | 0.22 | (0.42) | 1.33 | 1.27 | n/m | ||||||
| Book value | — | — | — | 6.14 | 3.85 | 10.02 | 5.56 | 3.93 | 5.11 | 6.21 | 5.76 | +0.2% | ||||||
| Shares, m | — | — | — | 47 | 50 | 80 | 148 | 154 | 161 | 167 | 168 | +23.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | 28.27 | 28.27 | 20.21 | 17.28 | 18.92 | 15.39 | 6.17 | 7.86 | 19.2 | ||||||
| P/B | — | — | — | 0.00 | 0.00 | 6.39 | 8.89 | 18.09 | 14.23 | 5.69 | 8.54 | 7.6 | ||||||
| EV/Sales | — | — | — | 26.86 | 26.86 | 16.51 | 15.07 | 17.13 | 14.08 | 4.85 | 6.67 | 17.3 | ||||||
| EV/FCF | — | — | — | (47.00) | (47.00) | (83.72) | (76.62) | 297.07 | (157.84) | 20.88 | 32.94 | (13.5) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | (60) | (74) | (50) | (77) | 35 | (64) | 233 | 223 | n/m | |||||
| Capex | — | — | — | — | (1) | (4) | (6) | (2) | (4) | (11) | (10) | +63.3% | ||||||
| Free cash flow | — | — | — | (60) | (75) | (53) | (83) | 33 | (68) | 222 | 214 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | 307 | 221 | 810 | 812 | 607 | 791 | 1,004 | 933 | +21.8% | |||||
| Net debt | — | — | — | (343) | (283) | (935) | (937) | (1,036) | (992) | (1,260) | (1,257) | +24.2% | ||||||
| Shareholders’ equity | — | — | — | 290 | 194 | 799 | 825 | 606 | 821 | 1,036 | 971 | +23.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | (66.73) | (50.95) | (21.34) | (15.34) | (34.18) | (0.47) | (3.58) | (3.33) | +63.1 pt | |||||
| ROIC | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | 71.44 | 105.03 | (54.62) | (21.36) | (59.49) | (0.89) | (6.02) | (5.60) | (77.5) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 1,350 | 1,630 | 2,170 | 2,130 | 2,375 | 2,580 | — | +13.8% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.11 | 0.16 | 0.20 | 0.27 | 0.32 | 0.37 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jan 2026 · latest quarter Jul 2026
Business profile
GitLab Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| PAYP PayPay Corporation | $9.7B | — | — | — | — | — | 100.00% | 28.08% | Compare |
| NTSK Netskope Inc. | $8.9B | — (loss-making) | — (loss-making) | +29.15% (above 0%: growing) | n/m | −51.62% (below 0%: shrinking) | 73.92% | (40.72%) | Compare |
| DOCN DigitalOcean Holdings, Inc. | $8.3B | 171× | 175× | +39.87% (above 0%: growing) | n/m | +85.62% (above 0%: growing) | 50.15% | 10.28% | Compare |
| GTLB GitLab Inc. | $8.2B | — (loss-making) | — (loss-making) | +21.31% (above 0%: growing) | n/m | −107.11% (below 0%: shrinking) | 84.06% | (19.89%) | |
| DBX Dropbox, Inc. | $7.8B | 19.7× | 20.7× | +0.93% (above 0%: growing) | −6.52% (below 0%: shrinking) | −10.29% (below 0%: shrinking) | 80.21% | 26.10% | Compare |
| S SentinelOne, Inc. | $7.5B | — (loss-making) | — (loss-making) | +20.56% (above 0%: growing) | n/m | −83.92% (below 0%: shrinking) | 72.07% | (31.08%) | Compare |
| ZETA Zeta Global Holdings Corp. | $7.4B | — (loss-making) | 299× | +43.55% (above 0%: growing) | n/m | +69.99% (above 0%: growing) | 59.12% | 3.82% | Compare |
| QLYS Qualys, Inc. | $6.9B | 34.7× | 38.3× | +11.04% (above 0%: growing) | +15.38% (above 0%: growing) | +72.34% (above 0%: growing) | 83.40% | 33.98% | Compare |
| PATH UiPath, Inc. | $6.8B | 19.5× | 35.1× | +13.42% (above 0%: growing) | +2,233.33% (above 0%: growing) | −29.52% (below 0%: shrinking) | 80.36% | 7.70% | Compare |
| Median of peers | $7.6B | 27.2× | 38.3× | +20.56% | +15.38% | −10.29% | 77.07% | 8.99% |
From the latest earnings call
- CEO Bill Staples said more than 130 customers committed more than $20 million to Flex in its first six weeks, while paid consumption run rate rose.
- CFO Jessica Ross said Flex changes the timing of license revenue recognition, with a potential FY2027 impact that GitLab excluded from its guidance.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
85.92%
Held by the ten largest
38.65%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 16.54m | 9.79% | +641.39k |
| AQR Capital Management | 10.29m | 6.09% | +1.68m |
| BlackRock | 8.85m | 5.24% | +210.27k |
| PRIMECAP Management | 7.68m | 4.55% | +384.30k |
| D. E. Shaw | 4.19m | 2.48% | +2.99m |
| Impactive Capital LP | 4.16m | 2.46% | +242.23k |
| UBS | 3.78m | 2.24% | +1.98m |
| Atreides Management, LP | 3.37m | 2.00% | +3.37m |
| DISCIPLINED GROWTH INVESTORS INC /MN | 3.31m | 1.96% | +2.40m |
| Goldman Sachs | 3.11m | 1.84% | +1.04m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 1 May 2026
Ownership
Directors and executive officers, together
54.14% of the votes
Sytse Sijbrandij
50.43% of the votes
BlackRock
2.46% of the votes
Eminence Capital, LP
2.43% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
GitLab Inc. (GTLB) Latest News
29 Oct
7 Oct
18 Sep
14 Sep
6 Sep
4 Sep
2 Sep
GTLB metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
GitLab sells a platform that helps organizations plan, build, secure and release software. It brings developers, security specialists, IT operations and business teams into a shared workspace, rather than requiring them to coordinate each stage through separate tools. The platform keeps information such as project plans, code changes, security scans and deployment settings in a unified data model.
The company calls its approach DevSecOps: combining software development, security and operations across the life of an application. Its Duo Agent Platform lets teams direct AI agents to perform tasks across that process, while retaining controls and records of what the agents do. GitLab Orbit indexes repositories and related information to provide context for work across stages.