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Gitlab (GTLB) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Sep 2, 2026 · Gitlab (GTLB) Q2 FY27 earnings results →

Q2 FY27 Revenue up 21% year over year to $286M · 13¢ of every $1 of revenue lost · operating margin -19.9%

Gitlab made $286M in Q2 FY27 (+21% Y/Y): Subscription—self-managed and SaaS $258M, License—self-managed and other $27.9M. Operating margin -19.9%, net loss $36.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 2, 2026.

Revenue$286M
Year over year+21%
Operating margin-19.9%
Net earnings−$36.1M
Operating cash flow−$3.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $286.3M in Q2 FY27, up 21% year over year and up 8% from the previous quarter. Subscription—self-managed was the largest line at 56% of revenue. SaaS added $25.6M year over year (up 36%), 51% of the total change.

Gross margin was 84.1%, down 3.9 points from Q2 FY26. Operating costs exceeded revenue by $56.9M, an operating margin of -19.9%. Operating expenses grew 32% against revenue growth of 21%. The fastest-growing cost line was General & admin (+52%). The quarter ended with a net loss of $36.1M, wider than the previous quarter's $5.6M loss. Non-operating items added $17.6M, -45% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$3.1M. Non-cash charges added back $1.3M of depreciation and amortization and $75.0M of share-based compensation. Working capital and other items used $43.3M. Capital expenditures of $213K exceeded it, leaving free cash flow of −$3.3M.

Quarterly history

Gitlab revenue by quarterGitlab revenue by quarter$211MQ4 FY25$215MQ1 FY26$236MQ2 FY26$244MQ3 FY26$260MQ4 FY26$264MQ1 FY27$286MQ2 FY27
Gitlab net earnings by quarterGitlab net earnings by quarter$5.2MQ4 FY25−$36.3MQ1 FY26−$10.0MQ2 FY26−$8.8MQ3 FY26−$3.5MQ4 FY26−$5.6MQ1 FY27−$36.1MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QSep 2, 2026$286M+21%-19.9%−$36.1M−$3.1M
Q1 FY2710-QJun 2, 2026$264M+23%-6.0%−$5.6M$149M
Q4 FY2610-KMar 17, 2026$260M+23%-2.0%−$3.5M$45.8M
Q3 FY2610-QDec 3, 2025$244M+25%-5.1%−$8.8M$31.4M
Q2 FY2610-QSep 4, 2025$236M+29%-7.8%−$10.0M$49.4M
Q1 FY2610-QJun 11, 2025$215M+27%-16.1%−$36.3M$106M
Q4 FY2510-KMar 21, 2025$211M+29%-9.1%$5.2M$63.2M

Charts

Gitlab: revenue growth, year over year and quarter over quarterGitlab: revenue growth, year over year and quarter over quarterY/YQ/Q+29%Q4 FY25+27%+1%Q1 FY26+29%+10%Q2 FY26+25%+4%Q3 FY26+23%+7%Q4 FY26+23%+1%Q1 FY27+21%+8%Q2 FY27
Latest (Q2 FY27): Y/Y +21%, Q/Q +8%.
Gitlab: where the cash came from (+) and went (−), TTM to Q2 FY27Gitlab: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$223MOther financing−$142MOther investing−$125MCash drawn (+) / kept (−)$34.9MShares issued$19.9MCapital spending−$9.6MTaxes on employees’ shares−$1.9MExchange rates$247K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Gitlab: profit against cash, quarter by quarterGitlab: profit against cash, quarter by quarterNet incomeOperating cash flow$27.8M−$177MQ3 FY25$6.3M$63.2MQ4 FY25−$36.3M$106MQ1 FY26−$10.0M$49.4MQ2 FY26−$8.8M$31.4MQ3 FY26−$3.5M$45.8MQ4 FY26−$5.6M$149MQ1 FY27−$36.1M−$3.1MQ2 FY27
Latest (Q2 FY27): Net income −$36.1M, Operating cash flow −$3.1M.
Gitlab: diluted shares by fiscal year (split-adjusted)Gitlab: diluted shares by fiscal year (split-adjusted)101MFY21160MFY22148MFY23154MFY24161MFY25167MFY26
+65.7% since FY21: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY23.
Gitlab in its industry: growth against margin (192 companies, SIC 7372)Gitlab in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYGTLB (+21%, -20%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Gitlab

GitLab is the intelligent orchestration platform for DevSecOps, where software teams and their Artificial Intelligence (“AI”) agents stay in flow to ship software faster. Built with a unified data model, our platform brings together development, operations, Information Technology (“IT”), security, and business teams across the entire software development lifecycle to deliver better, more secure software faster. AI has accelerated individual coding, but teams lose momentum coordinating across planning, testing, security, deployment, and operations. Fragmented toolchains and tool-specific AI agents create bottlenecks that slow software delivery. GitLab's intelligent orchestration helps solve this by enabling teams to orchestrate AI agents to execute tasks autonomously across the software lifecycle while maintaining quality, security, and speed.

In its own words, from its 10-K, filed Mar 17, 2026.

Gitlab against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +21% against the peers' median +19%. Operating margin: -19.9% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
GTLB GitlabQ2 FY27$286M+21%-19.9%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Gitlab 10-Q on SEC EDGAR · CIK 1653482 · Services-Prepackaged Software

13F: who owns GTLB and who is buying

Largest holders of GTLB (13F)Largest holders of GTLB (13F)Vanguard Group$566MAQR Capital Management LLC$310MVanguard Portfolio Management LLC$272MBlackRock$270MPrimecap Management$235MVanguard Capital Management LLC$197MD. E. Shaw$128MImpactive Capital LP$127MAtreides Management, LP$103MDisciplined Growth Investors$101M
Funds' net buying of GTLB by quarter (13F)Funds' net buying of GTLB by quarter (13F)$14.1M2024-09−$255M2024-12$442M2025-03$510M2025-06$482M2025-09−$134M2025-12$167M2026-03$111M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on GTLB

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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