Quarterly revenue of $66.8 million, up 58% year-over-year
Strong Dollar-Based Net Retention Rate at over 130%
All-Remote / San Francisco (December 6, 2021) - GitLab Inc. (NASDAQ: GTLB), The DevOps Platform, today reported financial results for its third quarter of fiscal 2022, ended October 31, 2021.
“We are seeing viral adoption and expanded use of The DevOps Platform, growing our revenue by 58% year-over-year this quarter,” said Sid Sijbrandij, GitLab CEO. “Customers use GitLab for their most immediate needs and then expand usage over time. This enables them to quickly modernize their software development to meet the demands of digital acceleration. As we look to the fourth quarter and fiscal 2023, we see continued strong momentum toward our large addressable market.”
“We performed well during the quarter and believe our business is set up for continued strength,” said Brian Robins, GitLab CFO. “We are pleased with our Dollar-Based Net Retention of over 130% and the positive business outcomes we continue to drive for our customers across all verticals around the world. The market for DevOps platforms is underpenetrated, and as a pioneer of The DevOps Platform, GitLab is well positioned to make the most of the substantial market opportunity before us.”
For the full press release, visit GitLab's Investor Relations site.