Tearsheet

GitLab (GTLB)


Market Price (12/27/2025): $37.79 | Market Cap: $6.3 Bil
Sector: Information Technology | Industry: Systems Software

GitLab (GTLB)


Market Price (12/27/2025): $37.79
Market Cap: $6.3 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19%
Weak multi-year price returns
2Y Excs Rtn is -86%, 3Y Excs Rtn is -100%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -85 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.3%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%
  Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9%
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, Cybersecurity, and Digital Transformation & Software Innovation. Themes include Software as a Service (SaaS), Show more.
  Key risks
GTLB key risks include [1] competitive pressure from AI tools undermining its core seat-based revenue model and [2] a history of unprofitability creating pressure to justify its high-growth valuation.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -19%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
3 Megatrend and thematic drivers
Megatrends include Cloud Computing, Cybersecurity, and Digital Transformation & Software Innovation. Themes include Software as a Service (SaaS), Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -86%, 3Y Excs Rtn is -100%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -85 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.3%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 23%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9%
8 Key risks
GTLB key risks include [1] competitive pressure from AI tools undermining its core seat-based revenue model and [2] a history of unprofitability creating pressure to justify its high-growth valuation.

Valuation, Metrics & Events

GTLB Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Here are the key points highlighting why GitLab (GTLB) stock moved by -21.2% between approximately August 31, 2025, and December 27, 2025:

<br><br>

<b>1. Mixed Q2 FY2026 Guidance and CFO Departure in September 2025.</b> Despite strong second-quarter earnings that surpassed analyst expectations, GitLab's forecast for the third quarter's revenue fell below estimates. The simultaneous announcement of CFO Brian Robins' resignation contributed to market uncertainty, leading to an initial stock decline of over 6%.

<br><br>

<b>2. Post-Q3 Earnings Concerns and Softening Growth.</b> While GitLab reported better-than-expected overall revenue and earnings per share for Q3 FY2026, there were underlying concerns, including certain revenue segments performing below analyst estimates and mentions of "softening growth and SMB weakness" which negatively impacted investor sentiment and the stock price.

<br><br>

<b>3. Analyst Downgrades Citing Execution Risk.</b> Several analyst firms, notably KeyBanc and Macquarie, downgraded GitLab's stock in December 2025. These downgrades were primarily driven by concerns over "incremental execution risk" related to the company's evolving business model, potential challenges to pricing power, and the anticipated impact of AI code generation on its traditional seat-based revenue model.

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<b>4. Increased Execution Risk from AI-Powered Duo Agent Platform and Hybrid Monetization Shift.</b> Analysts pointed to the company's strategic shift towards a hybrid seat-plus-usage-based monetization model, particularly with its AI-powered Duo Agent platform, as a source of increased near-term execution risk. This transition raised questions about its ability to maintain growth in developer headcount for existing seat-based models.

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<b>5. Significant Insider Selling in December 2025.</b> A GitLab director executed a stock sale exceeding $12 million in late December 2025. This substantial insider transaction, surpassing the specified threshold, likely contributed to negative market perception and downward pressure on the stock.

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Stock Movement Drivers

Fundamental Drivers

The -20.3% change in GTLB stock from 9/26/2025 to 12/26/2025 was primarily driven by a -23.9% change in the company's P/S Multiple.
926202512262025Change
Stock Price ($)47.4737.84-20.29%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)857.95906.255.63%
P/S Multiple9.186.99-23.87%
Shares Outstanding (Mil)165.95167.41-0.88%
Cumulative Contribution-20.29%

LTM = Last Twelve Months as of date shown

Market Drivers

9/26/2025 to 12/26/2025
ReturnCorrelation
GTLB-20.3% 
Market (SPY)4.3%20.2%
Sector (XLK)5.1%31.3%

Fundamental Drivers

The -16.2% change in GTLB stock from 6/27/2025 to 12/26/2025 was primarily driven by a -24.3% change in the company's P/S Multiple.
627202512262025Change
Stock Price ($)45.1437.84-16.17%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)804.57906.2512.64%
P/S Multiple9.236.99-24.26%
Shares Outstanding (Mil)164.49167.41-1.77%
Cumulative Contribution-16.20%

LTM = Last Twelve Months as of date shown

Market Drivers

6/27/2025 to 12/26/2025
ReturnCorrelation
GTLB-16.2% 
Market (SPY)12.6%21.6%
Sector (XLK)17.0%29.0%

Fundamental Drivers

The -36.7% change in GTLB stock from 12/26/2024 to 12/26/2025 was primarily driven by a -48.4% change in the company's P/S Multiple.
1226202412262025Change
Stock Price ($)59.7437.84-36.66%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)711.60906.2527.35%
P/S Multiple13.546.99-48.39%
Shares Outstanding (Mil)161.32167.41-3.78%
Cumulative Contribution-36.75%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2024 to 12/26/2025
ReturnCorrelation
GTLB-36.7% 
Market (SPY)15.8%49.7%
Sector (XLK)22.3%54.9%

Fundamental Drivers

The -13.9% change in GTLB stock from 12/27/2022 to 12/26/2025 was primarily driven by a -59.5% change in the company's P/S Multiple.
1227202212262025Change
Stock Price ($)43.9537.84-13.90%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)379.23906.25138.98%
P/S Multiple17.256.99-59.49%
Shares Outstanding (Mil)148.88167.41-12.44%
Cumulative Contribution-15.23%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2023 to 12/26/2025
ReturnCorrelation
GTLB-41.0% 
Market (SPY)48.0%45.5%
Sector (XLK)53.7%48.3%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
GTLB Return--16%-48%39%-10%-33%-64%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
GTLB Win Rate-33%33%42%58%25% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
GTLB Max Drawdown--30%-62%-41%-35%-34% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventGTLBS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-79.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven388.9%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

GitLab's stock fell -79.5% during the 2022 Inflation Shock from a high on 11/8/2021. A -79.5% loss requires a 388.9% gain to breakeven.

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About GitLab (GTLB)

GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle. It helps organizations to plan, build, secure, and deploy software to drive business outcomes. The company also provides related training and professional services. The company was formerly known as GitLab B.V. and changed its name to GitLab Inc. in July 2015. The company was founded in 2011 and is headquartered in San Francisco, California.

AI Analysis | Feedback

Think of it as GitHub for the entire DevOps lifecycle.

It's like Atlassian's full suite of developer tools (Jira, Bitbucket, Confluence, Bamboo) rolled into a single, integrated application.

The Salesforce for software development teams.

AI Analysis | Feedback

  • GitLab DevOps Platform: A comprehensive single application that streamlines the entire software development lifecycle, from planning and creation to security and deployment.
  • Source Code Management (SCM): Provides Git-based repositories for version control, collaborative code development, and code reviews.
  • Continuous Integration/Continuous Delivery (CI/CD): Automates the process of building, testing, and deploying software applications, ensuring faster and more reliable releases.
  • DevSecOps Capabilities: Integrates security scanning, vulnerability management, and policy enforcement directly into the development workflow to build secure software from the start.
  • Project and Portfolio Management: Offers tools for issue tracking, agile planning, and managing large-scale software projects and initiatives.

AI Analysis | Feedback

GitLab (symbol: GTLB) primarily sells its software development and operations (DevOps) platform to other companies, operating on a business-to-business (B2B) model.

According to GitLab's most recent annual report (Form 10-K), no single customer accounted for 10% or more of its revenue for the fiscal years ended January 31, 2024, 2023, or 2022. Therefore, specific "major customers" by name are not publicly disclosed due to the lack of significant revenue concentration from any individual client.

Instead, GitLab serves a wide range of organizations globally. These customer companies can be broadly categorized as follows:

  • Enterprise and Large Organizations: GitLab serves large corporations across various sectors such as financial services, technology, retail, manufacturing, and healthcare. These customers often have complex software development needs and require comprehensive, scalable DevOps solutions for large teams.
  • Small and Medium-sized Businesses (SMBs): The company also caters to SMBs looking to streamline their software development lifecycle, improve collaboration, and accelerate delivery, often utilizing GitLab's cloud-based offerings.
  • Government and Public Sector: GitLab has a significant presence in the government and public sector, providing secure and compliant DevOps solutions for agencies and departments requiring robust tools for mission-critical software development.

AI Analysis | Feedback

  • Alphabet Inc. (Symbol: GOOGL)
  • Cloudflare, Inc. (Symbol: NET)
  • Datadog, Inc. (Symbol: DDOG)
  • Twilio Inc. (Symbol: TWLO)

AI Analysis | Feedback

Here is the information about GitLab's management team members:

Bill Staples, Chief Executive Officer

Bill Staples was appointed CEO of GitLab and a member of its board of directors on December 5, 2024, succeeding co-founder Sid Sijbrandij. Prior to joining GitLab, Staples served as CEO at New Relic, where his strategic leadership reportedly increased the company's enterprise value by accelerating revenue growth and profitability. His career also includes executive leadership roles at Microsoft and Adobe, where he scaled several multi-billion-dollar businesses.

James Shen, Interim Chief Financial Officer

James Shen was appointed interim CFO of GitLab effective September 20, 2025, following Brian Robins' departure. Shen joined GitLab as its Vice President of Finance in January 2021. Before his time at GitLab, he held corporate finance positions at Facebook parent Meta, and various finance roles at companies including Rainforest QA and DocuSign. Shen began his career in investment banking with Morgan Stanley.

Sid Sijbrandij, Co-founder and Executive Chair of the Board

Sid Sijbrandij co-founded GitLab in 2012 and served as its CEO before transitioning to Executive Chair of the board on December 5, 2024. He is credited with leading GitLab's rapid growth into a prominent platform in the software development industry, serving over 30 million registered users. Prior to GitLab, Sijbrandij had a diverse background that included building recreational submarines at U-Boat Worx and founding Comcoaster. He also founded Open Core Ventures in 2020. GitLab went public in the U.S. in October 2021 under his leadership.

Brian Robins, Former Chief Financial Officer

Brian Robins served as Chief Financial Officer of GitLab from October 2020 until his departure on September 19, 2025, to become CFO at Snowflake. During his tenure at GitLab, he was instrumental in achieving a 450% increase in revenue and building significant operating leverage. Robins has over two decades of experience in senior financial roles at high-growth software companies. Before GitLab, he was CFO at Sisense, Cylance (acquired by BlackBerry), AlienVault (acquired by AT&T), and Verisign. He has experience leading both private and public companies through significant financial milestones, including IPOs and M&A transactions. Robins also serves as a special advisor at Brighton Park Capital, L.P., a private equity firm, and on the Advisory Council at ForgePoint Capital Cybersecurity.

Sabrina Farmer, Chief Technology Officer

Sabrina Farmer is the Chief Technology Officer at GitLab. In this role, she is responsible for overseeing the company's technological direction and ensuring alignment of tech initiatives with business goals, leading engineering teams and driving innovation.

AI Analysis | Feedback

The key risks to GitLab's (GTLB) business are as follows:

  1. Competitive Pressures, particularly from AI-driven tools and evolving pricing models: GitLab faces significant competitive threats, especially from new generative AI coding tools that could impact its market share and growth prospects. This challenge is further complicated by the need to navigate a strategic shift from its traditional seat-based pricing model to a consumption-based model, as AI agents do not require individual seats, directly undermining GitLab's legacy revenue structure.
  2. Challenges in Achieving and Sustaining Profitability: Despite demonstrating substantial revenue growth and high gross margins, GitLab has a history of losses and continues to face challenges with negative net and operating margins due to ongoing investments in growth and development. There is no assurance that its rapid revenue growth will continue at the same rate, and the increasing cloud-related costs associated with its Software-as-a-Service (SaaS) offerings may further impact its gross margins. The company's stock is perceived by some analysts as priced for high growth, leaving little room for error if growth normalizes.
  3. Security and Privacy Risks: As a platform that processes sensitive customer data, GitLab is exposed to significant security and privacy risks. Any security breaches could lead to substantial legal and financial liabilities, reputational harm, and a loss of customer trust. Furthermore, the use of open-source technology within its platform increases its vulnerability to supply-chain cyberattacks.

AI Analysis | Feedback

The rapid advancement and adoption of AI-powered developer tools and workflows by major competitors. Specifically, the growing capabilities and aggressive integration of AI coding assistants and automation tools (e.g., GitHub Copilot, Amazon CodeWhisperer, Google Gemini Code Assist) by companies with vast resources could fundamentally reshape how software development and DevOps are performed. If these AI-centric approaches become the dominant paradigm, automating significant portions of the development lifecycle and integrating deeply into IDEs and cloud platforms, they could diminish the value proposition of independent, all-in-one DevOps platforms like GitLab, potentially shifting the orchestration and intelligence layer from the platform to the AI itself or its embedding within a competitor's ecosystem.

AI Analysis | Feedback

The addressable markets for GitLab's main products and services are as follows:
  • Total Addressable Market (TAM): GitLab estimates its total addressable market to be $40 billion, globally.
  • DevSecOps Platform Market: The DevSecOps platform market, which includes GitLab's offerings, is projected to reach $69.96 billion by 2036. Another estimate indicates this market could reach $24.43 billion by 2029.
  • DevOps Market: The global DevOps market is estimated to be approximately $14.43 billion. The broader DevOps software market is also projected to grow to $12 billion by 2030, from a current size of $5 billion.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for GitLab (GTLB) over the next 2-3 years:
  1. Growth in Customers and Paid Seat Expansion: GitLab is focused on increasing its customer base, particularly by adding new paying customers and expanding the number of paid seats within existing accounts. Over 70% of the company's fiscal year 2026 revenue growth came from paid seat growth, with accelerating double-digit paid seat additions. The company has seen consistent growth in customers with Annual Recurring Revenue (ARR) of at least $5,000, and a significant increase in its larger customer cohort with over $100,000 in ARR.
  2. Product Innovation and AI Integration: GitLab is heavily investing in artificial intelligence (AI) and new product features to drive growth. The company is making rapid progress on AI, with its Duo Agent Platform in beta and a general availability target by year-end. AI features like DuoChat and code suggestions are being integrated into Premium and Ultimate tiers to enhance the DevSecOps platform. Recent releases, such as GitLab 18, highlight major innovations across core DevOps workflows, security, compliance, and natively integrated AI capabilities.
  3. Up-tiering and Ultimate SKU Adoption: A significant driver of revenue growth is the company's strategy to encourage customers to upgrade to higher-value subscription tiers, especially the Ultimate SKU. The Ultimate SKU currently represents 53% of GitLab's total ARR and is its highest-priced product. The company notes "tremendous momentum" with GitLab Ultimate, with top deals often including substantial investments in this tier, driven by increasing demands for security and compliance in software development.
  4. DevSecOps Platform Consolidation: GitLab aims to capitalize on the trend of organizations consolidating disparate point solutions into a single, integrated DevSecOps platform. The company estimates that a significant portion of organizations will move away from fragmented solutions to integrated platforms like GitLab in the next 2-3 years, addressing a large market opportunity. GitLab positions itself as the most comprehensive AI-powered DevSecOps platform, enabling increased developer productivity and improved operational efficiency.
  5. Refined Go-to-Market Strategy and Enterprise Focus: GitLab is restructuring its sales motions to enhance new customer acquisition and expand within existing enterprise accounts. The company's go-to-market strategy involves both sales and product-led initiatives to reach more customers and help them maximize value from the platform. Strategic alliances, including partnerships with cloud service platforms like Amazon Web Services (AWS) and Google Cloud, are also helping GitLab expand its footprint among large enterprise customers.

AI Analysis | Feedback

Share Repurchases

  • GitLab's 5-Year Share Buyback Ratio was -2.90% as of July 2025, suggesting a net issuance of shares rather than repurchases.
  • Quarterly stock buybacks for GTLB were -12.35 million for July 31, 2025.

Share Issuance

  • The number of shares outstanding increased by 3.99% in one year.
  • GitLab's shares outstanding increased significantly in 2023 by 86.08% from 2022, likely reflecting share issuance related to its IPO or subsequent offerings.
  • Shares outstanding continued to increase by 3.96% in 2024 and 4.08% in 2025.

Outbound Investments

  • GitLab has made a total of 9 acquisitions, with peak activity in 2020 and 2021, each with two acquisitions.
  • Recent acquisitions include Oxeye (cloud security testing software) in March 2024, UnReview (automates software review cycles) in June 2021, and Opstrace, Inc. (open-source software monitoring and observability platform) in December 2021.
  • These acquisitions primarily focus on Cybersecurity and Application Development Tools.

Capital Expenditures

  • In the last 12 months, capital expenditures were -$6.38 million.
  • GitLab's capital expenditures for fiscal year 2025 were $3.765 million, and are projected to increase to $7.248 million for fiscal year 2026.
  • Quarterly capital expenditures for July 2025 were reported as $2.9 million.

Better Bets than GitLab (GTLB)

Trade Ideas

Select ideas related to GTLB. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE11302025ENPHEnphase EnergyDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
14.4%14.4%-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11262025PDPagerDutyDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
13.1%13.1%0.0%
CRM_11212025_Dip_Buyer_FCFYield11212025CRMSalesforceDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
17.3%17.3%-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE11212025HUBSHubSpotDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
12.0%12.0%0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FIVNFive9Dip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
5.5%5.5%0.0%

Recent Active Movers

More From Trefis

Peer Comparisons for GitLab

Peers to compare with:

Financials

GTLBHPQHPEIBMCSCOAAPLMedian
NameGitLab HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price37.8423.2624.49305.0978.16273.4058.00
Mkt Cap6.321.932.6284.9309.24,074.4158.8
Rev LTM90655,29534,29665,40257,696408,62556,496
Op Inc LTM-853,6241,64411,54412,991130,2147,584
FCF LTM2422,80062711,85412,73396,1847,327
FCF 3Y Avg442,9781,40011,75313,879100,5037,366
CFO LTM2503,6972,91913,48313,744108,5658,590
CFO 3Y Avg493,6723,89613,49814,736111,5598,697

Growth & Margins

GTLBHPQHPEIBMCSCOAAPLMedian
NameGitLab HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM27.4%3.2%13.8%4.5%8.9%6.0%7.4%
Rev Chg 3Y Avg33.8%-3.9%6.5%2.6%3.7%1.8%3.2%
Rev Chg Q24.6%4.2%14.4%9.1%7.5%9.6%9.4%
QoQ Delta Rev Chg LTM5.6%1.1%3.7%2.1%1.8%2.1%2.1%
Op Mgn LTM-9.3%6.6%4.8%17.7%22.5%31.9%12.1%
Op Mgn 3Y Avg-22.8%7.4%7.2%16.4%24.2%30.8%11.9%
QoQ Delta Op Mgn LTM2.4%-0.2%-1.4%0.6%0.4%0.1%0.2%
CFO/Rev LTM27.6%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg4.3%6.8%12.7%21.4%26.1%28.4%17.1%
FCF/Rev LTM26.7%5.1%1.8%18.1%22.1%23.5%20.1%
FCF/Rev 3Y Avg3.7%5.5%4.6%18.6%24.6%25.6%12.1%

Valuation

GTLBHPQHPEIBMCSCOAAPLMedian
NameGitLab HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap6.321.932.6284.9309.24,074.4158.8
P/S7.00.41.04.45.410.04.9
P/EBIT-74.86.819.925.122.531.321.2
P/E-136.38.6572.736.029.941.033.0
P/CFO25.35.911.221.122.537.521.8
Total Yield-0.7%14.1%2.3%5.0%5.4%2.8%3.9%
Dividend Yield0.0%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg0.6%10.6%5.5%6.4%6.0%3.1%5.7%
D/E0.00.50.70.20.10.00.2
Net D/E-0.20.30.60.20.00.00.1

Returns

GTLBHPQHPEIBMCSCOAAPLMedian
NameGitLab HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn-6.7%-1.8%14.4%0.6%2.7%-1.5%-0.4%
3M Rtn-20.3%-11.9%2.7%7.9%17.0%7.1%4.9%
6M Rtn-16.2%-4.0%34.5%6.6%15.2%36.3%10.9%
12M Rtn-36.7%-27.3%14.2%39.2%33.7%6.0%10.1%
3Y Rtn-13.9%-3.8%67.7%139.0%79.5%113.4%73.6%
1M Excs Rtn-10.7%-5.6%12.9%-2.2%-0.0%-3.7%-3.0%
3M Excs Rtn-24.6%-16.2%-1.7%3.6%12.7%2.8%0.6%
6M Excs Rtn-28.4%-16.3%22.3%-5.7%3.0%24.0%-1.3%
12M Excs Rtn-52.9%-42.9%-0.7%25.0%19.9%-8.4%-4.6%
3Y Excs Rtn-99.9%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Single Segment580   
License-self-managed and other 5522619
Subscription-self-managed and software-as-a-service (SaaS) 36926133
Total580424253152


Price Behavior

Price Behavior
Market Price$37.84 
Market Cap ($ Bil)6.3 
First Trading Date10/14/2021 
Distance from 52W High-48.3% 
   50 Days200 Days
DMA Price$43.09$45.43
DMA Trenddowndown
Distance from DMA-12.2%-16.7%
 3M1YR
Volatility54.6%57.4%
Downside Capture80.29166.95
Upside Capture-44.8997.42
Correlation (SPY)20.4%49.5%
GTLB Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.340.970.751.311.481.73
Up Beta-0.69-0.42-0.790.401.341.17
Down Beta3.983.052.862.411.702.14
Up Capture14%7%-24%74%119%720%
Bmk +ve Days12253873141426
Stock +ve Days7172759117381
Down Capture220%89%73%152%136%111%
Bmk -ve Days7162452107323
Stock -ve Days13253665130367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
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Based On 5-Year Data
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Based On 10-Year Data
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Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity10,216,508
Short Interest: % Change Since 11302025-17.3%
Average Daily Volume6,681,773
Days-to-Cover Short Interest1.53
Basic Shares Quantity167,407,000
Short % of Basic Shares6.1%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/2/2025-12.8%-10.0% 
9/3/2025-7.4%4.5%-0.9%
6/10/2025-10.6%-13.7%-12.2%
3/3/202511.6%-9.4%-15.3%
12/5/20241.7%-7.6%-8.3%
9/3/202421.6%25.8%12.4%
6/3/2024-4.9%-5.9%13.0%
3/4/2024-21.0%-24.2%-24.1%
...
SUMMARY STATS   
# Positive1097
# Negative7810
Median Positive11.5%22.8%14.7%
Median Negative-10.6%-11.9%-12.2%
Max Positive31.2%72.4%48.3%
Max Negative-23.9%-24.2%-24.1%

SEC Filings

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Report DateFiling DateFiling
103120251203202510-Q 10/31/2025
7312025904202510-Q 7/31/2025
4302025611202510-Q 4/30/2025
1312025321202510-K 1/31/2025
103120241206202410-Q 10/31/2024
7312024904202410-Q 7/31/2024
4302024604202410-Q 4/30/2024
1312024326202410-K 1/31/2024
103120231205202310-Q 10/31/2023
7312023906202310-Q 7/31/2023
4302023606202310-Q 4/30/2023
1312023330202310-K 1/31/2023
103120221206202210-Q 10/31/2022
7312022907202210-Q 7/31/2022
4302022607202210-Q 4/30/2022
1312022408202210-K 1/31/2022