GitLab Inc. reported a total revenue of $214.5 million for the three months ended April 30, 2025, marking a 27% increase from $169.2 million in the same period last year. The growth was primarily driven by a rise in subscription revenue, which reached $194.5 million, up 29% from $151.2 million in the prior year. The company also saw an increase in its customer base, with 10,104 Base Customers as of April 30, 2025, compared to 8,976 a year earlier, reflecting a 13% growth. However, GitLab continues to operate at a loss, reporting a net loss of $36.3 million, an improvement from the $55.5 million loss recorded in the same quarter of the previous year.

In terms of operational metrics, GitLab's Dollar-Based Net Retention Rate decreased to 122% from 129% year-over-year, indicating a slight decline in revenue growth from existing customers. The number of customers with an Annual Recurring Revenue (ARR) of over $100,000 increased to 1,288, up from 1,025, representing a 26% growth. The company’s total cash, cash equivalents, and short-term investments stood at approximately $1.1 billion as of April 30, 2025, providing a solid liquidity position to support ongoing operations and strategic investments.

GitLab has made significant investments in its product offerings and operational capabilities, including the acquisition of Rezilion Inc. for approximately $7.3 million and Oxeye Security Limited for $20.3 million. These acquisitions are expected to enhance GitLab's DevSecOps platform, which integrates development, security, and operations into a single application. The company also reported an increase in research and development expenses, which rose to $65.4 million, up 21% from $54.1 million in the previous year, reflecting its commitment to innovation and product enhancement.

Despite the positive revenue trajectory, GitLab faces challenges, including rising operating expenses, which totaled $224.1 million for the quarter, up from $204.1 million a year earlier. The increase was driven by higher sales and marketing costs, which rose to $107.6 million, and research and development expenses. The company anticipates continued investment in these areas to drive future growth, although it may impact short-term profitability. Looking ahead, GitLab remains focused on expanding its customer base and enhancing its product offerings while managing its operational costs effectively.