GTLB F1Q27 Earnings - Looking DAPper

研报英文原文证据摘录

GTLB F1Q27 Earnings - Looking DAPper

Enterprise Software

Enterprise Software - Market Overweight

GITLAB, INC. CLASS A (GTLB) June 2, 2026

GTLB F1Q27 Earnings - Looking DAPper Rating:

Outperform

The Wolfe Byte Price: $30.03

GTLB delivered solid 1Q results that were ahead of guidance but raised the outlook Price Target:

for the full year by less than the beat in the quarter. We are encouraged by the $36

early momentum for Duo Agent Platform, but we do not expect the quarter to be Prior: $32

% Upside:

a positive catalyst. 19.9%

View GTLB Model

GTLB delivered solid 1Q results that came in ahead of guidance and raised the View Comp Table

full-year outlook. Total revenue grew 23% and was 3% ahead of guidance after Company Information

backing out $2M of one-time revenue tied to early renewals and overage payments. 52-Week Range $19 - $51

Enterprise performance was strong (>100K customers +18% Y/Y), public sector was Market Cap. (MM) $5,477

Enterprise Value (MM) $4,119

ahead of expectations, Dedicated crossed $70M in ARR, and Ultimate reached 57% Shares Out. (MM) 166.0

of ARR and was in 7 of the top 10 deals. DAP ARR is tracking ahead of Duo Avg. Value Traded (MM) $377.37

Enterprise and Pro combined in its first quarter and was in 4 of the top 10 deals SI% of Float 15.1% EV/ Revenue 3.2x

(DAP paid consumption run rate was ~$20M). However, the price-sensitive cohort

continues to face pressure, and the quarter saw headwinds from accelerated lay- 55

50offs in the tech sector and M&A-related contraction. 2Q guidance was in-line for

revenue, while full-year revenue was raised by $6.5M (80% of the 1Q beat after 4540

35adjusting for one-time items) and now calls for growth of 16.7% (16% previously).

The guidance continues to assume no meaningful bounce-back in public sector, 3025