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The company anticipates fourth-quarter fiscal 2024 revenues between $157 million and $158 million. Non-GAAP earnings per share are anticipated between 8 cents and 9 cents.
The Zacks Consensus Estimate for revenues is pegged at $157.74 million, indicating an increase of 28.34% from the year-ago quarter’s reported figure.
The consensus mark for earnings has been stable at 8 cents per share in the past 30 days. GitLab had incurred a loss of 3 cents per share in the year-ago quarter.
The company beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 317.62%.
GitLab’s fourth-quarter results are expected to have benefited from a strong subscription-based business model. Its subscription-based approach provides a steady stream of revenues, as customers opt for ongoing access to its services rather than one-time purchases. This model ensures a predictable revenue stream, which is often favored by investors and analysts.
In third-quarter fiscal 2024, subscriptions, self-managed and SaaS (87.5% of total revenues) revenues jumped 33.1% year over year to $131 million. The trend is expected to have continued in the to-be-reported quarter.
The company’s plan to enhance user limits on its free-sized tier, resulting in the upgrade of its free users to premium, is expected to have driven its top line in the quarter.
Customers with more than $5K of Annual Recurring Revenues ("ARR") increased to 8,175, up 26% year over year. Customers with more than $100K of ARR increased to 874, up 37% year over year. The number of customers is expected to have increased in the to-be-reported quarter as well.
GitLab’s emphasis on DevSecOps, which integrates development, security and operations, is increasingly important in modern software development workflows. The adoption of GTLB’s AI-powered tools within this framework helps enhance efficiency, streamline processes and improve overall security posture for its users. This is expected to have driven top-line growth in the to-be-reported quarter.
In the third quarter of fiscal 2024, GTLB further solidified its AI-powered DevSecOps capabilities with the announcement of GitLab Duo updates, introducing Chat in beta (16.6) for real-time AI assistance and Code Suggestions in general availability (16.7), enhancing DevSecOps with a suite of 14 AI capabilities, streamlining development and improving productivity.
Key Q4 Announcements
The company announced the introduction of GitLab Duo Pro, an innovative add-on set to launch in February 2024. Priced at $19 per user monthly and accessible through various deployment options, including SaaS, self-managed and Dedicated, GitLab Duo Pro represents a significant step forward in the integration of AI within the development and security operations workflow.
This comprehensive solution combines Code Suggestions with advanced organizational controls, all within a single application.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Autodesk this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
GTLB currently has an Earnings ESP of 0.00% and carries a Zacks Rank of #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, SEMrush (SEMR - Free Report) , SentinelOne (S - Free Report) and The Gap (GPS - Free Report) have the right combination of elements to post an earnings beat this reporting cycle.
SEMrush has an Earnings ESP of +23.08% and a Zacks Rank #2 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 4. Its earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters while matching the same on the other two occasions, the average surprise being 112.50%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SEMR’s fourth-quarter earnings has remained unchanged at 3 cents per share for the past 90 days. The consensus mark for revenues is pegged at $83.19 million, indicating a year-over-year increase of 20.93%.
SentinelOne has an Earnings ESP of +16.30% and a Zacks Rank #3 at present. The company is scheduled to report fourth-quarter fiscal 2024 results on Mar 13. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 33.54%.
The Zacks Consensus Estimate is pegged at a loss of 4 cents per share, indicating growth of 69.23% from the prior-year quarter's level. The consensus mark for revenues is pegged at $169.5 million, implying a year-over-year increase of 34.42%.
The Gap has an Earnings ESP of +24.44% and sports a Zacks Rank #1 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 7. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 137.89%.
The Zacks Consensus Estimate for GPS’ fourth-quarter earnings is pegged at 19 cents per share, indicating a surge of 125.33% from the prior-year quarter's level. The consensus mark for revenues is pegged at $4.21 billion, implying a year-over-year decrease of 0.68%.
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GitLab (GTLB) to Report Q4 Earnings: What's in the Cards?
GitLab (GTLB - Free Report) is set to release its fourth-quarter fiscal 2024 results on Mar 4.
The company anticipates fourth-quarter fiscal 2024 revenues between $157 million and $158 million. Non-GAAP earnings per share are anticipated between 8 cents and 9 cents.
The Zacks Consensus Estimate for revenues is pegged at $157.74 million, indicating an increase of 28.34% from the year-ago quarter’s reported figure.
The consensus mark for earnings has been stable at 8 cents per share in the past 30 days. GitLab had incurred a loss of 3 cents per share in the year-ago quarter.
The company beat the Zacks Consensus Estimate in each of the last four quarters, delivering an average earnings surprise of 317.62%.
GitLab Inc. Price and EPS Surprise
GitLab Inc. price-eps-surprise | GitLab Inc. Quote
Factors Likely to Influence Q4 Results
GitLab’s fourth-quarter results are expected to have benefited from a strong subscription-based business model. Its subscription-based approach provides a steady stream of revenues, as customers opt for ongoing access to its services rather than one-time purchases. This model ensures a predictable revenue stream, which is often favored by investors and analysts.
In third-quarter fiscal 2024, subscriptions, self-managed and SaaS (87.5% of total revenues) revenues jumped 33.1% year over year to $131 million. The trend is expected to have continued in the to-be-reported quarter.
The company’s plan to enhance user limits on its free-sized tier, resulting in the upgrade of its free users to premium, is expected to have driven its top line in the quarter.
Customers with more than $5K of Annual Recurring Revenues ("ARR") increased to 8,175, up 26% year over year. Customers with more than $100K of ARR increased to 874, up 37% year over year. The number of customers is expected to have increased in the to-be-reported quarter as well.
GitLab’s emphasis on DevSecOps, which integrates development, security and operations, is increasingly important in modern software development workflows. The adoption of GTLB’s AI-powered tools within this framework helps enhance efficiency, streamline processes and improve overall security posture for its users. This is expected to have driven top-line growth in the to-be-reported quarter.
In the third quarter of fiscal 2024, GTLB further solidified its AI-powered DevSecOps capabilities with the announcement of GitLab Duo updates, introducing Chat in beta (16.6) for real-time AI assistance and Code Suggestions in general availability (16.7), enhancing DevSecOps with a suite of 14 AI capabilities, streamlining development and improving productivity.
Key Q4 Announcements
The company announced the introduction of GitLab Duo Pro, an innovative add-on set to launch in February 2024. Priced at $19 per user monthly and accessible through various deployment options, including SaaS, self-managed and Dedicated, GitLab Duo Pro represents a significant step forward in the integration of AI within the development and security operations workflow.
This comprehensive solution combines Code Suggestions with advanced organizational controls, all within a single application.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Autodesk this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that’s not the case here.
GTLB currently has an Earnings ESP of 0.00% and carries a Zacks Rank of #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks With the Favorable Combination
Per our model, SEMrush (SEMR - Free Report) , SentinelOne (S - Free Report) and The Gap (GPS - Free Report) have the right combination of elements to post an earnings beat this reporting cycle.
SEMrush has an Earnings ESP of +23.08% and a Zacks Rank #2 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 4. Its earnings surpassed the Zacks Consensus Estimate twice in the trailing four quarters while matching the same on the other two occasions, the average surprise being 112.50%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for SEMR’s fourth-quarter earnings has remained unchanged at 3 cents per share for the past 90 days. The consensus mark for revenues is pegged at $83.19 million, indicating a year-over-year increase of 20.93%.
SentinelOne has an Earnings ESP of +16.30% and a Zacks Rank #3 at present. The company is scheduled to report fourth-quarter fiscal 2024 results on Mar 13. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 33.54%.
The Zacks Consensus Estimate is pegged at a loss of 4 cents per share, indicating growth of 69.23% from the prior-year quarter's level. The consensus mark for revenues is pegged at $169.5 million, implying a year-over-year increase of 34.42%.
The Gap has an Earnings ESP of +24.44% and sports a Zacks Rank #1 at present. The company is scheduled to report fourth-quarter fiscal 2023 results on Mar 7. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 137.89%.
The Zacks Consensus Estimate for GPS’ fourth-quarter earnings is pegged at 19 cents per share, indicating a surge of 125.33% from the prior-year quarter's level. The consensus mark for revenues is pegged at $4.21 billion, implying a year-over-year decrease of 0.68%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.