GitLab — 2026Q3 財報

“Total revenue of $286.3 million, up 21% year-over-year”

Total revenue was $286.3 million, up 21% year over year.

“GAAP operating margin of (20)%; non-GAAP operating margin of 15%”

The quarter was profitable only on a non-GAAP basis: GAAP operating margin was (20)% against a non-GAAP operating margin of 15%.

“Operating cash flow of $(3.1) million and non-GAAP adjusted free cash flow of $9.8 million”

Operating cash flow was negative at $(3.1) million, and non-GAAP adjusted free cash flow was $9.8 million.

“Q2 was an exceptional quarter, with record gross bookings and net ARR growth exceeding 40% year over year”

The CEO called it an exceptional quarter, citing record gross bookings and net ARR growth of more than 40% year over year.

“First Order growth of more than 100% year on year.”

First-order growth was more than 100% year over year.

“Dollar-Based Net Retention Rate was 117%.”

The dollar-based net retention rate was 117%.

“Total RPO grew 16% year-over-year to $1.2 billion, while cRPO grew 20% to $744.7 million.”

Total RPO grew 16% to $1.2 billion, while cRPO grew 20% to $744.7 million.

“Introduced a new commercial model with GitLab Flex to give customers one annual commitment covering platform seats, GitLab Credits, and new eligible capabilities as they become available”

GitLab introduced GitLab Flex, a commercial model in which one annual commitment covers platform seats, GitLab Credits and newly eligible capabilities.

“In the quarter, GitLab repurchased approximately 3.5 million shares.”

GitLab repurchased approximately 3.5 million shares in the quarter.

“After only six weeks in market, more than 130 customers committed more than $20 million to Flex.”

The CEO said more than 130 customers committed more than $20 million to Flex in its first six weeks on the market.

“Paid consumption run rate ended the quarter above $40 million, up from $15 million existing in Q1, thanks to the introduction of Flex.”

Paid consumption run rate ended the quarter above $40 million, up from $15 million in Q1, which the CEO attributed to Flex.

“Our objective is to exceed $100 million of paid CRR by the end of this fiscal year.”

Management's stated goal is more than $100 million of paid consumption run rate by the end of the fiscal year.

“Given the size of the available-to-renew pool in the back half of the year as well as our visibility into the H2 pipeline, we expect the maximum potential impact on our revenue to be approximately $13 million in FY27.”

Based on the back-half available-to-renew pool and its H2 pipeline, the CFO put the maximum potential FY27 revenue impact of the Flex transition at approximately $13 million.

“we have not incorporated the potential impact of Flex in our guide, but we do intend to quantify the revenue recognition impacts through the rest of the year.”

Guidance does not include the potential Flex impact. The CFO said GitLab intends to quantify the revenue-recognition effects for the rest of the year.

“This quarter, cRPO saw a 3-point headwind relative to RPO purely from the absence of Flex commitments in that metric.”

The CFO said Flex commitments are excluded from cRPO, which created a 3-point headwind to cRPO relative to RPO this quarter.

“For Q3 FY27, we expect total revenue of $281 million to $283 million, representing approximately 15% to 16% year-over-year growth.”

Q3 FY27 revenue was guided to $281 million to $283 million, approximately 15% to 16% growth year over year.

“Our second half outlook assumes a more normalized pace of bookings from here, not a repeat of Q2's exceptional levels.”

The CFO said the second-half outlook assumes bookings return to a more normalized pace rather than repeating Q2.

“We still have one primary competitor. Our position versus that competitor is, I think, stronger than it's ever been. They've struggled with reliability and meeting the needs of customers in this new Agentic era with security and trust and other dimensions. And so we're seeing higher win rates.”

The CEO said GitLab still has one primary competitor, that he thinks its position against it is stronger than it has ever been, and that GitLab is seeing higher win rates.