Quarterly revenue of $77.8 million, up 69% year-over-year
Strong Dollar-Based Net Retention Rate at over 152%
Fiscal Fourth Quarter Highlights:
Fiscal Year 2022 Highlights:
San Francisco (March 14, 2022) - All-Remote - GitLab Inc. (NASDAQ: GTLB), The DevOps Platform, today reported financial results for its fourth quarter and full year of fiscal 2022, ended January 31, 2022.
“We are seeing continued strong momentum for customers adopting our DevOps platform, as revenue increased 69% year-over-year,” said Sid Sijbrandij, GitLab CEO. “This growth was broad-based, driven by strong customer additions across all company sizes. We believe these results demonstrate that the market is moving from DIY DevOps composed of different tools to a DevOps Platform. This shift enables organizations to accelerate the time-to-market of their most important software and applications, providing them with a distinct competitive advantage.”
“Our Dollar-Based Net Retention increased above 152%, and we continued to achieve success in both upgrading and signing new customers to Ultimate, which remains our fastest growing tier,” said Brian Robins, GitLab CFO. “As we look forward to fiscal year 2023 and beyond, we believe we are addressing a large and early stage market opportunity, and we remain focused on executing to drive sustainable growth and improving profitability over the long term.”
For the full press release, visit GitLab's Investor Relations site.