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. In the quarter to July 2026, revenue grew 21.3%, EPS fell 266.7% and free cash flow fell 107.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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GitLab Inc. (GTLB) Beneish M-score
GitLab Inc.'s Beneish M-score for fiscal 2026 is −3.16; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −3.16 | (1.70) |
| FY2025 | −1.46 | 2.84 |
| FY2024 | −4.30 | (2.03) |
| FY2023 | −2.27 | (0.26) |
| FY2022 | −2.01 | 1.59 |
| FY2021 | −3.60 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.91 | — | 0.84 | |
| Gross margin index | 1.02 | — | 0.54 | |
| Asset quality index | 0.76 | — | 0.31 | |
| Sales growth index | 1.26 | — | 1.12 | |
| Depreciation index | 1.10 | — | 0.13 | |
| SG&A index | 0.87 | — | −0.15 | |
| Total accruals to total assets | (0.17) | — | −0.79 | |
| Leverage index | 0.97 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.16 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| NTSK Netskope Inc. compare | −4.6× |
| S SentinelOne, Inc. compare | −3.3× |
| GTLB GitLab Inc. | −3.2× |
| DBX Dropbox, Inc. compare | −3.1× |
| QLYS Qualys, Inc. compare | −2.9× |
| ZETA Zeta Global Holdings Corp. compare | −2.8× |
| PATH UiPath, Inc. compare | −2.3× |
| DOCN DigitalOcean Holdings, Inc. compare | −2.3× |
| SAIL SailPoint, Inc. compare | −2.2× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI