GitLab
The all-remote company behind GitHub's main rival. Revenue grows over 20% a year and losses are shrinking, but it just cut 14% of staff to rebuild itself around AI agents.
Q2 FY2027 results, Sep 1, 2026- Revenue
- $955M in the year to January 2026, up 26%.
- Profit
- -$70M operating loss, half the year before.
- Debt
- $0 no borrowings, and $1.26B of cash and investments.
- Watch
- 22 countries it plans to stop employing people in, as part of a 14% cut.
- AI
- Open to agents its MCP server lets outside AI tools work inside GitLab, on every tier.
- Hiring
- 2,580 team members in 60 countries before the cut, with no headquarters.
- Listings
- 197 → 213 remote listings since Oct 10.
Two thirds runs on customers' own servers.
GitLab sells yearly subscriptions to one platform for writing, testing, securing and shipping code. Most customers still install it themselves, but the cloud version (SaaS) is the fastest growing slice, up 37% in a year.
- 1One platform for the whole software lifecycleThe top Ultimate tier is 57% of recurring revenue, and its AI agents were in 4 of the 10 largest deals last spring.Investor update, Jul 8, 2026
- 2The choice for companies that cannot use the public cloudSelf-managed is 66% of revenue, and its agent platform works with any cloud or model, even air-gapped.10-K FY2026; investor update, Jul 2026
- 3Sticky large customers1,571 customers pay over $100K a year, up 17%. It says half the Fortune 100 use GitLab.Q2 FY2027 results; GitLab, Apr 28, 2026
| Company | Worth | Revenue | Growth | Per employee | Paid per $1 | Stock, 1 yr |
|---|---|---|---|---|---|---|
| GitLab | $9.01B | $1.06B | +23% | $0.41M | $8.65 | +15% |
| Microsoft | $3876B | $346B | +18% | $1.55M | $11.22 | −2% |
| Atlassian | $48.3B | $6.57B | +26% | $0.49M | $7.39 | +21% |
| JFrog | $11.6B | $600M | +26% | $0.33M | $19.16 | +96% |
- GitLab
- Worth
- $9.01B
- Revenue
- $1.06B
- Growth
- +23%
- Per employee
- $0.41M
- Paid per $1
- $8.65
- Stock, 1 yr
- +15%
- Microsoft
- Worth
- $3876B
- Revenue
- $346B
- Growth
- +18%
- Per employee
- $1.55M
- Paid per $1
- $11.22
- Stock, 1 yr
- −2%
- Atlassian
- Worth
- $48.3B
- Revenue
- $6.57B
- Growth
- +26%
- Per employee
- $0.49M
- Paid per $1
- $7.39
- Stock, 1 yr
- +21%
- JFrog
- Worth
- $11.6B
- Revenue
- $600M
- Growth
- +26%
- Per employee
- $0.33M
- Paid per $1
- $19.16
- Stock, 1 yr
- +96%
Investors pay $8.65 for every dollar GitLab brings in. Its peers here range from $7.39 to $19.16, close to their median of $11.22.
GitLab brought in $286 million in 92 days.
That is about $50 million more than the same three months a year earlier. Each of its 2,580 employees brought in about $0.37 million over the year, about $1,010 a day.
Revenue is not profit. It is the money that came in before GitLab pays any of its costs.
Q2 FY2027 results; employees from 10-K at Jan 31, 2026, before the 14% cutStill losing money: $71 million in FY2026.
Revenue grew 65% in two years. In FY2026 it lost 7 cents on every revenue dollar.
- FY2024: lost 32¢ of every $1
- FY2025: lost 19¢ of every $1
- FY2026: lost 7¢ of every $1
Microsoft and Atlassian bring in more per person than GitLab; JFrog less.
- Microsoft$1.55M
- Atlassian$0.49M
- GitLab$0.41M
- JFrog$0.33M
GitLab does not need to borrow or raise money. It is using some of the pile to buy back stock while it restructures.
What the filings say, and what we think it means.
The fact is the filing's. The read, in italics, is ours.
- 01Watch
A 14% cut, and an exit from 22 countries.
10-Q Q2 FY2027, restructuring noteApproved June 1, 2026: about 14% of the workforce (roughly 350 people) and a 37% smaller country footprint. $23.3M charged so far, $30M to $35M expected in total, done by January 2027.
For a company with no office, fewer countries means fewer places it will hire. If you live somewhere small for GitLab, check it is still on the list.
- 02Good
Guidance went up twice, even during the cut.
Q1 and Q2 FY2027 resultsFY2027 revenue guidance rose from $1.11B to $1.12B in June to $1.129B to $1.133B in September. Revenue grew 23% in Q1 and 21% in Q2.
The cut was not a sign that sales stalled. Management says most of the savings go back into growth.
- 03Neutral
The founder's extra votes are gone.
10-Q Q2 FY2027, subsequent eventsOn May 14, 2026 the board chair converted 15.1M high-vote Class B shares. That pushed Class B below 5%, so on Aug 21, 2026 all of it became ordinary Class A stock.
No single holder now controls the vote. That makes GitLab easier to buy, for better or worse, if a bidder ever shows up.
- 04Watch
Most of the top bench is new.
8-Ks, Dec 2025 to Sep 2026; 10-K FY2026New CFO (Jessica Ross) and new CTO (Sivaprasad Padisetty) in January 2026. The CTO, security chief, chief legal officer and chief accounting officer all left between December 2025 and September 2026.
Lots of turnover in a short time. New leaders tend to bring new plans and reorgs, so expect more change in the next year.
- 05Good
It bought back stock at about $26 a share.
10-Q Q2 FY2027, equity noteA $400M buyback was approved in March 2026. By July it had bought 5.84M shares for $154.7M, an average of $26.47, with $245.3M left.
Share count is now flat year over year, so buybacks are cancelling out new stock grants. Those shares cost about half of the Oct 30 price of $54.09.
- 06Watch
Stock pay is over a fifth of revenue.
10-K FY2026, stock compensation noteStock-based pay was $215.5M in FY2026, about 23% of revenue, and $75.0M in Q2 alone (26%). That is why non-GAAP shows a profit while GAAP shows a loss.
Equity is a real part of pay here. The gap between the two profit numbers is mostly this line.
- 07Watch
Existing customers are adding less each year.
10-K FY2026; Q2 FY2027 resultsDollar-based net retention fell from 130% (FY2024) to 123% to 118% (FY2026), and 117% in Q2 FY2027.
Customers still spend more each year, just less extra than before. The new usage-based AI pricing is meant to lift this.
- 08Watch
Operating cash flow turned negative in Q2.
Q2 FY2027 resultsQ2 operating cash flow was -$3.1M, against +$49.4M a year earlier. Adjusted free cash flow fell to $9.8M from $46.5M. Q1 had brought in $147M.
The release does not explain the swing. Severance payments and seasonal billing are likely parts of it, but that is our guess.
- 09Neutral
A big Dutch tax bill is settled.
10-K FY2026, income taxes noteIn Oct 2024 GitLab paid $187.7M to the Dutch tax authority over moving its intellectual property. FY2024 carried a $265.1M tax charge; FY2025 a $76.7M tax benefit.
The FY2025 net loss of only $9M leaned on that tax benefit. The dispute is closed for the early years, with later years still open.
- 10Neutral
China runs through a 54%-owned joint venture.
10-K FY2026, joint venture noteJiHu, formed in 2021 with two Chinese investment partners, is 54% owned and consolidated. GitLab is moving users who live in China onto JiHu.
A small, separate China business that GitLab controls but does not fully own. A risk to watch if US and China tech rules tighten.
Customer is paid 37% over market. Engineering, 4% under.
We save every company's roles, pay by team and level, AI share and churn every day, so each month this page can say more. Sparklines use their own scale.
Can AI agents do business with GitLab?
We checked the agent payment programs, developer docs and site rules an AI assistant would meet.
Built for agents to plug in. Payment protocols do not apply.
Still Remote read- YesAn MCP server agents can callGenerally available since GitLab 19.5, on every tier including Free. Works with Claude, Cursor, Gemini CLI, OpenAI Codex, GitHub Copilot and others.GitLab docs, checked Oct 31, 2026
- AnnouncedA map of the whole project for agentsGitLab Orbit joins code, tickets, pipelines and deployments into one graph with its own MCP endpoint. In public beta, not yet generally available.SD Times, Oct 6, 2026
- YesListed in an AI marketplaceJoined Anthropic's Claude Marketplace in April 2026, so buyers can spend existing Anthropic commitments on GitLab credits.GitLab, Apr 28, 2026
- YesDocs and site that AI tools can readBoth docs.gitlab.com and about.gitlab.com publish an llms.txt index. The docs index lists the MCP server pages.checked Oct 31, 2026
- Not foundGoogle's Agent2Agent protocolNo GitLab announcement or docs page found. MCP is the only agent protocol it documents.Searched Oct 31, 2026
- YesLets AI crawlers read its siteabout.gitlab.com names 17 AI bots, including GPTBot and ClaudeBot, but only keeps them out of one partner-paper folder plus search and API paths. gitlab.com has no AI-specific rules.checked Oct 31, 2026
Where GitLab puts AI to work.
- 1Agents take over reviews, approvals and handoffsThe CEO's "Act 2" letter says GitLab will automate internal reviews, approvals and handoffs with AI agents, remove up to three management layers, and split R&D into about 60 smaller teams.CEO letter, 8-K May 11, 2026
- 2The cut came with the AI planAbout 350 roles went, with a voluntary separation window first. The letter ties right-sizing roles to agent automation; the company says most savings are reinvested in growth.Q1 FY2027 results; CEO letter, May 2026
More listings than on Sep 7, led by sales.
What GitLab shows about working there.
Short videos from GitLab's official YouTube channel, played here. We only use a channel that links about.gitlab.com and carries the company's name.
- Life at workThe Gitlab Hackathon starts today!809 views
- Life at workGitlab Hackathon Kickoff Jan 2025226 views
- Git to Know: Manjeet Singh's Top Tip for Your Career #GitToKnowGitLab #CareerAdvice #Productivity2.4 thousand views
- Alex Shootman the CEO of Workfront about why they are using GitLab1.5 thousand views
- GitLab Secrets Manager is Here | Dev Snacks625 views
- Fix GitLab Pipelines Stuck on Pending!1 thousand views
- Stop Wasting Time On Boring Dev Tasks! GitLab Duo Agent Platform Is Here2 thousand views
- Manual vs. Automated Deployment: The Real Cost1.2 thousand views
Your view of the next year, in a share price.
A way to think, not a forecast, and not investment advice.
- Growth
- How much bigger revenue gets in a year. More revenue to multiply.
- Paid per $1 of revenue
- The mood dial. High when investors expect fast growth and future profit, low when they doubt it. GitLab sits at $9.43; the peers' median is $11.22.
- Share count
- Stock pay and converting notes add shares, so each is a smaller slice. Buybacks do the opposite. Last year GitLab's share count changed +0.3%.
- The analyst range
- 31 analysts publish a 12-month target, from $45 to $70. It is where Wall Street sits, not where the stock must go.
Growth and valuation hold, and the share count keeps rising at last year's rate. This lands above the analysts' average of $56.
Your $100,000 grant today would be worth $125,370 in 12 months in this world, before taxes and vesting.
A way to think, not a forecast, and not investment advice.
10-Q Q2 FY2027; Q2 FY2027 resultsThe signals, and which way they push.
- TailwindAgents mean more work flowing through GitLab.
The CEO says AI drives more work through the development lifecycle. Usage-based Flex pricing launched in Q2, with paid consumption at about a $15M run rate in Q1.
- TailwindBig customers keep signing.
Customers over $100K a year rose 17% to 1,571, and contracted revenue due in the next year rose 20% to $744.7M.
- HeadwindExpansion inside accounts is slowing.
Net retention slid from 130% to 117% in about two and a half years, and full-year growth guidance is near 18%, below last year's 26%.
- HeadwindUp against Microsoft.
The 10-K names Microsoft, owner of GitHub, as its principal competitor, with Atlassian, JFrog and Harness behind it.
- HeadwindA smaller remote map.
The plan exits 22 countries and shrinks the team footprint by 37%, with customers there served through partners. Relocation is offered to staff in good standing.
Where GitLab ends up, if we had to bet.
Our calls, not facts. Each one is tied to something that already happened, so you can judge the reasoning.
- 1
GitLab is bought by a bigger software or cloud company.
Coin flip 50%M&AIt explored a sale in 2024, with Datadog reported as interested and Alphabet's venture arm a big holder. Since August 2026 there is no high-vote founder stock to block a deal.
Reuters via The Star, Jul 17, 2024; 10-Q Q2 FY2027 - 2
Usage-based AI credits bring in more than a fifth of GitLab's revenue.
Coin flip 50%AICredits and Flex now sit beside seats, and the CEO letter says pricing is shifting toward consumption. But paid consumption was only about a $15M run rate in Q1, against a $1.1B year.
Investor update, Jul 2026 - 3
GitHub stays far bigger, and GitLab keeps winning as the governed, self-hosted option.
Likely 72%CompetitionTwo thirds of revenue is self-managed, and its agents run on any cloud or model, even air-gapped. Microsoft is its named principal competitor.
10-K FY2026; investor update, Jul 2026 - 4
GitLab sells package and container storage head to head with JFrog.
Likely 72%ProductsArtifact Central (beta) and a Dependency Firewall were announced in Oct 2026. JFrog is already named as a competitor in the 10-K.
SD Times, Oct 6, 2026; 10-K FY2026 - 5
GitLab no longer serves China directly; JiHu holds that market alone.
Likely 72%RegulationThe 10-K says users living in China are being moved to JiHu, which GitLab owns 54% of. It lists China's data privacy law among the rules it must follow.
10-K FY2026, risk factors
Read by the Still Remote research agent on November 1, 2026 from the sources linked on this page. Facts and scenarios only, not investment advice.