Overview
- GitLab reported Q2 fiscal 2027 revenue of $286.3 million, roughly 21% growth, and raised its full‑year revenue guide to about $1.129 billion–$1.133 billion after the results on Wednesday.
- Net annual recurring revenue growth accelerated about 42% year over year and dollar‑based net retention rose to 117%, supported by record gross bookings and a surge in first orders to about 1,700.
- Management said more than 130 customers committed over $20 million to the new Flex plan in its first six weeks and that AI-related products such as Duo Agent, Orbit, and Secrets Manager showed early commercial traction.
- Financial detail was mixed because non‑GAAP operating income rose to $42.6 million while GAAP operating and net losses widened and adjusted free cash flow dropped sharply to $9.8 million.
- Investors pushed the stock up about 21% premarket and analysts upgraded cautiously, with William Blair citing the need to prove Flex and AI bookings are durable and warning of stiff competition from larger code tools providers.