GitLab Inc. (GTLB) reported total revenues of $214.4 million for the first quarter of fiscal 2026, marking a 27% year-over-year increase. The company also saw an increase in its customer base, with 10,104 customers generating more than $5K in Annual Recurring Revenue (ARR), up 13% from the previous year, and 1,288 customers with over $100K in ARR, up 26% year-over-year.
In this quarter, GitLab launched GitLab 18, featuring innovations in DevOps, security, and AI, as well as GitLab Duo with Amazon Q for self-managed customers on AWS. Additionally, it received the FedRAMP Moderate Authority to Operate for GitLab Dedicated for Government.
Despite the positive financials, GitLab’s shares have declined by 17.7% year to date, while the broader Zacks Computer & Technology sector has returned 7%. The Zacks Consensus Estimate for second-quarter fiscal 2026 earnings is currently 16 cents per share, indicating a 6.67% increase year-over-year.
