GitLab has reinforced its DevSecOps platform with the recent acquisition of Oxeye, a top provider of cloud-native application security and risk management solutions.
This acquisition highlights GitLab’s commitment to strengthening its Static Application Security Testing (SAST) capabilities.
By integrating Oxeye’s automated SAST solution, GitLab aims to improve developers’ and security professionals’ ability to detect and resolve application-layer risks across the software development lifecycle.
Empowering GitLab’s Future
This strategic move by GitLab will cater to the growing demand for its AI-driven DevSecOps solutions.
GitLab’s Growth Trajectory
GitLab’s Ultimate tier experienced significant expansion in fiscal Q4 2024, with 50% of Annual Recurring Revenue (ARR) generated from this tier.
One of the key drivers behind this growth was successful customer engagements in security and compliance applications, showcasing the market’s recognition of GitLab’s offerings.
Responding to customer requirements, GitLab introduced a new Enterprise Agile Planning SKU in Q4, simplifying processes for Ultimate tier clients.
This enhancement underscores GitLab’s dedication to helping customers maximize the value they derive from the platform.
The company’s diverse portfolio has attracted major enterprises including NVIDIA, Alphabet’s Google Cloud, and Dunelm Group, who have adopted GitLab’s solutions to expedite AI development and streamline security procedures.
NVIDIA optimized its operations by incorporating GitLab Geo, enhancing scalability and security for remote teams.
Additionally, GitLab and Alphabet collaborated to merge GitLab’s unique features with Google Cloud, creating a potent integration that leverages both platforms’ strengths.
Moreover, Dunelm Group leveraged GitLab SaaS Ultimate to improve its operations by automating scans and addressing issues efficiently within GitLab pipelines on AWS.
GitLab’s innovation in security and compliance offerings, coupled with its leadership in the DevSecOps segment, is instrumental in its revenue growth and market prominence.
For Q1 of fiscal 2025, this Zacks Rank #3 (Hold) company anticipates revenue in the range of $165-$166 million, reflecting a year-over-year growth rate of 30-31%.
The Zacks Consensus Estimate for Q1 fiscal 2025 revenue stands at $165.7 million, depicting a 30.59% surge from the previous year.
Forecasted non-GAAP loss per share for the first quarter ranges from 4 to 5 cents. The consensus estimate for the loss is 3 cents per share, down from 6 cents predicted over the last 30 days.
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