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Gitlab Inc. (GTLB) USD

End-to-end DevSecOps software-development platform.

At a glance: strengths & risks
✓Revenue growing (+21% y/y, Q2 2026)✓Net cash balance sheet✗Loss-making last FY✗Margins compressing (-7%→-19%, Q2 2026)

Sector: United States — large cap (SEC filings)

US_GTLB

Price chart

54.53 USDDay -1.66%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
54.53 USD · -1.66%
Market cap
9.3 bn USD

Growth

Δ revenue y/y
21.3%
Δ EBITDA y/y
—

Multiples

P/E (LTM)
—
P/B (FY)
9.4x
P/E (ann.)
<0
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
<0

Cash return

Dividend yield
—
FCF yield (LTM)
2.3%

Liquidity

Daily turnover (US listing)
235.4 mln USD

Shares: yahoo_fundamentals_timeseries/GTLB

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-07-31Q3 2026 (3M)PARTIAL286.3
y/y 21.3%
-56.9
y/y —
1.3
y/y 71.3%
-55.6
y/y —
-36.8
y/y —
-3.1-0.21661.8
y/y 10.9%
925.5
y/y 6.8%
-15.4%-226.1SEC EDGAR
2026-04-30Q2 2026 (3M)PARTIAL264.2
y/y 23.1%
-15.7
y/y —
1.3
y/y 132.9%
-14.5
y/y —
-5.0
y/y —
149.2-2.41705.5
y/y 18.3%
985.2
y/y 21.9%
-2.0%-335.0Link
2026-01-31Q1 2026 (3M)PARTIAL260.4
y/y 23.2%
-5.2
y/y 73.3%
1.1
y/y 119.6%
-4.1
y/y 78.4%
-2.6
y/y -137.7%
45.8-4.01722.7
y/y 23.1%
990.7
y/y 27.7%
-5.8%-229.2Link
2025-10-31Q4 2025 (3M)PARTIAL244.4
y/y 24.6%
-12.4
y/y —
0.9
y/y 27.8%
-11.5
y/y —
-8.3
y/y -128.4%
31.4-3.01570.8
y/y 25.4%
922.7
y/y 27.3%
-1.2%-223.8Link
2025-07-31Q3 2025 (3M)PARTIAL236.0
y/y 29.2%
-18.4
y/y —
0.8
y/y 2.0%
-17.6
y/y —
-9.2
y/y -171.3%
49.4-2.91498.2
y/y 8.9%
866.6
y/y 34.8%
-4.4%-261.0Link
2025-04-30Q2 2025 (3M)PARTIAL214.5
y/y 26.8%
-34.6
y/y —
0.6
y/y -40.7%
-34.1
y/y —
-35.9
y/y —
106.3-0.91442.0
y/y 9.1%
808.3
y/y 42.3%
-18.1%-255.3Link
2025-01-31Q1 2025 (3M)OK211.4
y/y 29.1%
-19.3
y/y 44.6%
0.5
y/y -52.0%
-18.8
y/y 44.3%
6.9
y/y 118.2%
63.2-1.11399.3
y/y 5.9%
775.9
y/y 38.6%
-0.8%-227.3Link
2024-10-31Q4 2024 (3M)OK196.0
y/y 31.0%
-28.7
y/y —
0.7
y/y -39.4%
-28.1
y/y —
29.1
y/y —
-177.0-1.11252.6
y/y 2.1%
724.7
y/y 32.6%
5.7%-176.4Link
2024-07-31Q3 2024 (3M)OK182.6
y/y 30.8%
-41.0
y/y —
0.7
y/y -33.2%
-40.3
y/y —
12.9
y/y —
11.7-0.91376.3
y/y 15.7%
642.8
y/y -18.0%
8.5%-438.3Link
2024-04-30Q2 2024 (3M)OK169.2
y/y 33.3%
-53.6
y/y —
0.9
y/y -14.2%
-52.7
y/y —
-55.2
y/y —
38.1-20.91321.6
y/y 13.5%
567.8
y/y -25.8%
-39.2%-420.0Link
2024-01-31Q1 2024 (3M)OK163.8
y/y —
-34.9
y/y —
1.0
y/y —
-33.8
y/y —
-38.0
y/y —
24.9-0.31321.4
y/y 13.0%
559.8
y/y -27.4%
-77.0%-287.6Link
2023-10-31Q4 2023 (3M)OK149.7
y/y —
-40.3
y/y —
1.1
y/y —
-39.1
y/y —
-285.2
y/y —
-6.0-0.71226.9
y/y —
546.6
y/y —
-57.2%-284.7Link
2023-07-31Q3 2023 (3M)OK139.6
y/y —
-54.1
y/y —
1.1
y/y —
-52.9
y/y —
-50.1
y/y —
27.1-0.31189.1
y/y —
783.7
y/y —
-25.9%-272.5Link
2023-04-30Q2 2023 (3M)OK126.9
y/y —
-58.2
y/y —
1.1
y/y —
-57.1
y/y —
-52.5
y/y —
-11.0-0.31164.1
y/y —
765.5
y/y —
-27.3%-314.5Link
2023-01-31FY 2023 (12M)OK424.3
y/y —
-211.4
y/y —
3.2
y/y —
-208.2
y/y —
-173.4
y/y —
-77.4-6.11169.2
y/y —
771.0
y/y —
—-294.3Link

Net debt structure (leases included, IFRS 16) 2026-07-31

Short-term debt (incl. ST leases)0
Long-term debt (incl. LT leases)0
− Cash & equivalents226
Net debt-226

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-25002505007501 0002023 FY2024 FY2025 FY2026 FY

Year-over-year change

0%10%20%30%40%2023 FY2024 FY2025 FY2026 FY

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-800-600-400-20002023 FY2024 FY2025 FY2026 FY

Net debt / cash ($ mln)

-300-200-10002023 FY2024 FY2025 FY2026 FY

Profit and cash

Worth a look
year20222023202420252026
cash flow / profit—————
accruals, % of assets-9.7%-8.2%-34.9%4.1%-16.8%
capex 1.8x of depreciation · share count +20.3% a year
● Diluted share count grew 20.3% a year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -12.1%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-07-31 vs 2025-07-31)
= (-56 − -18) × 4.00
-152
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (9 274 + -226) ÷ -84
0.0x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (0.0 + 12) ÷ 2
6.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -35 + 0 + 50 − 11
15
4b. Share dilution (at market, LTM)
Share-count growth over the year × Market cap
= 2.4% × 9 274
−223
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-152 × 6.0 + 15 − 223) ÷ 9 274
-12.1%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • negative LTM EBITDA — value destruction
  • equity issuance measured by share-count dilution at market, not the cash line
  • share-count dilution 2.4%/yr (valued at market: -223)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +26% vs +31% the year before — a -5.1 pp move. 3-year CAGR +31%.
revenue growth by year: 2024 +37% · 2025 +31% · 2026 +26%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Gitlab Inc. (GTLB) — from primary filings.

Frequently asked questions

What is Gitlab Inc. (GTLB)'s P/B ratio?
Gitlab Inc. (GTLB) trades at a P/B of 9.4x.
What is Gitlab Inc. (GTLB)'s return on equity (ROE)?
Gitlab Inc. (GTLB)'s ROE is -15.4%.
What is Gitlab Inc. (GTLB)'s market capitalization?
Gitlab Inc. (GTLB)'s market cap is 9.3 bn USD.

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