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GitLab Inc. (GTLB+1.98%) has submitted its Form 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenue of $759.2 million for the fiscal year, a 31% increase from $579.9 million in the previous year. This growth is attributed to increased demand for GitLab's DevSecOps platform, expansion within existing customers, and an increase in customers with $100,000 or more in annual recurring revenue.
Subscription revenue from self-managed and SaaS offerings was $675.2 million, up from $506.3 million in the prior year. License and other revenue totaled $84.1 million, compared to $73.6 million in the previous year.
Total cost of revenue increased to $85.1 million from $59.7 million, primarily due to higher third-party hosting costs and personnel-related expenses. Gross profit for the year was $674.1 million, with a gross margin of 89%.
Operating expenses rose to $816.8 million from $707.6 million, driven by increases in sales and marketing, research and development, and general and administrative expenses. This includes stock-based compensation expense of $185.9 million.
The company reported a net loss of $9.1 million, compared to a net loss of $429.5 million in the previous year. The improvement was largely due to a tax benefit of $76.7 million, primarily related to bilateral advance pricing agreements with tax authorities.
Cash and cash equivalents, including short-term investments, totaled $992.4 million as of January 31, 2025. Net cash used in operating activities was $64.0 million, compared to net cash provided by operating activities of $35.0 million in the prior year.
GitLab's report highlights its continued investment in sales and marketing to drive revenue growth and expand its global customer base, as well as ongoing research and development to enhance its platform offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GitLab Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.