GitLab (NASDAQ:GTLB) delivered strong fiscal third-quarter results, issued optimistic guidance, and announced a leadership transition.
For the quarter, GitLab reported adjusted earnings per share of $0.23, surpassing analysts’ estimates of $0.15. Revenue rose to $196 million, exceeding the consensus forecast of $187.9 million. The company’s current remaining performance obligations (cPRO), which measure booked revenue over the next 12 months, increased 39% year-over-year to $515.2 million, reflecting strong customer commitments.
GitLab also unveiled a key leadership change, with Bill Staples named as CEO, while Co-Founder Sid Sijbrandij will transition to the role of executive chair. The leadership shift is expected to position the company for its next phase of growth.
Looking ahead, GitLab provided robust guidance for the fourth quarter, projecting adjusted earnings per share of $0.22 to $0.23 on revenue between $205 million and $206 million, exceeding Wall Street expectations of $0.15 EPS on $204.83 million in revenue.
For the full fiscal year, the company raised its outlook, forecasting earnings per share between $0.63 and $0.64 and revenue in the range of $753 million to $754 million.