$GTLB reports Q4 & FY 2023: Non-GAAP revenue grows 81% YoY
Mar 13th 2023, 8:10 pm
Analyst Summary: GitLab Inc. reported their financial results for the fourth quarter and full fiscal year of 2023, ended January 31, 2023. Their non-GAAP revenue for Q4 2023 was $81.2 million, representing a 69% growth year-over-year, while their full fiscal year non-GAAP revenue reached $246.3 million, representing a 81% growth year-over-year. Sid Sijbrandij, co-founder and CEO of GitLab, believes that their DevSecOps platform positions them well to continue demonstrating significant value to their customers in the current macroeconomic environment. The company announced the limited availability of GitLab Dedicated, beta availability of Value Streams Dashboard and GitLab Remote Development, and the expansion of the GitLab for Startups program. For the first quarter of fiscal year 2024, GitLab expects revenue to be between $86 million and $88 million. Investors are encouraged to review both GAAP and non-GAAP financial measures and not rely on any single financial measure to evaluate the business.