GitLab Q1 Revenue Jumps 23% to $264.2M, EPS Beat but Shares Fall 5%
GTLB•GitLab posted Q1 fiscal 2027 revenue of $264.2 million, a 23% year-over-year increase, and adjusted EPS of $0.23 versus $0.21 expected. The company announced workforce reductions, raised full-year adjusted EPS guidance to $0.79–$0.82, and saw shares slide about 5% in premarket trading.
1. Q1 Financial Performance
For the first quarter of fiscal 2027, GitLab generated revenue of $264.2 million, up 23% year-over-year, and reported adjusted EPS of $0.23, exceeding expectations of $0.21 per share.
2. Updated Guidance
The company lifted its full-year adjusted EPS outlook to $0.79–$0.82 from $0.76–$0.80 and forecast second-quarter adjusted EPS of $0.17–$0.18 on revenue of $272–$274 million.
3. Restructuring and Stock Reaction
GitLab outlined workforce reductions aimed at optimizing costs, but cautious commentary on slower growth momentum led to a roughly 5% decline in Class A shares ahead of the market open.
4. AI-Driven Product Expansion
Demand accelerated for the GitLab Duo Agent Platform and other AI-powered development tools as organizations pursue agentic automation and integrated DevSecOps workflows.
