GitLab’s second-quarter Revenue increased 21% year-over-year to $286.3 million, while GAAP net loss attributable to GitLab widened to $36.8 million and non-GAAP Net Income reached $42.1 million. The outlook gives investors expected Q3 revenue of $281 million to $283 million and FY 2027 revenue of $1,129 million to $1,133 million.

Key Highlights

  • Operating cash flow was $(3.1) million, while non-GAAP adjusted free cash flow was $9.8 million.
  • FY 2027 revenue guidance is $1,129 million to $1,133 million, with non-GAAP Operating Income of $148 million to $152 million.
  • GitLab reported $286.3 million in revenue and a GAAP net loss attributable to GitLab of $36.8 million.

GitLab Inc. (NASDAQ: GTLB) generated $286.3 million in revenue during the second quarter of fiscal year 2027 ended July 31, 2026, an increase of 21% year-over-year. GAAP net loss attributable to GitLab was $36.8 million, while non-GAAP net income attributable to GitLab reached $42.1 million. The company’s outlook calls for third-quarter revenue of $281 million to $283 million and fiscal-year revenue of $1,129 million to $1,133 million.

Margin Gap Defines Quarter

GAAP gross Margin was 84%, compared with non-GAAP gross margin of 86%. Operating results showed a wider difference: GAAP operating loss was $56.9 million, while non-GAAP operating income was $42.6 million. Non-GAAP net income per share was $0.25 basic and $0.24 diluted. The comparable figures were a GAAP operating loss of $18.4 million, non-GAAP operating income of $39.6 million, GAAP net loss attributable to GitLab of $9.2 million and non-GAAP net income attributable to GitLab of $40.9 million.

Cash Flow Turns Negative

GAAP net cash provided by Operating Activities was $(3.1) million, compared with $49.4 million in the comparable period. Non-GAAP adjusted free cash flow was $9.8 million, compared with $46.5 million. GitLab’s financial results also included statements from Chief Executive Officer Bill Staples and Chief Financial Officer Jessica Ross. Staples cited record gross bookings and net annual Recurring Revenue growth exceeding 40% year over year, while Ross pointed to 21% revenue growth and continued improvement across the business.

Product Expansion Continues

Monthly reservations can be reshaped as customer needs change without contract amendments. GitLab also posted a letter describing strategic investments intended to drive durable revenue growth.

FY 2027 Targets Set

Third-quarter revenue guidance is $281 million to $283 million, with non-GAAP operating income expected at $35 million to $37 million. Non-GAAP diluted net income per share is projected at $0.19 to $0.20. For the full fiscal year, GitLab expects revenue of $1,129 million to $1,133 million and non-GAAP operating income of $148 million to $152 million. Full-year non-GAAP diluted net income per share is forecast at $0.85 to $0.87. Simon Mundy, GitLab’s Chief Accounting Officer and principal accounting officer, is leaving his position effective September 16, 2026, to pursue an opportunity outside the company. Jessica Ross will assume the additional principal accounting officer role on that date without receiving additional compensation.