GitLab shares soar on earnings and revenue beat

GitLab shares surged more than 8% in after-hours trading Tuesday after the company reported fiscal first-quarter revenue of $264.2 million and adjusted earnings of $0.23 per share, both exceeding analyst estimates of $254 million and $0.21 per share. The code development and security platform cited accelerating platform activity and traction with its AI-powered GitLab Duo Agent Platform as key drivers, even as the company confirmed it is cutting 350 team members as part of a restructuring plan announced last month.

GitLab shares soar on earnings and revenue beat Shares of GitLab https://robinhood.com/us/en/stocks/GTLB/?source=sherwood soared over 8% in after-hours trading after the company’s quarterly results beat analyst expectations for earnings and revenue. For FY2027 Q1, the code development and security platform posted: Revenues of $264.2 million estimate: $254 million . Adjusted earnings per share of $0.23 estimate: $0.21 . In a press release https://s204.q4cdn.com/984476563/files/doc financials/2027/q1/GitLab-1QF2027-Earnings-Press-Release.pdf , GitLab CEO Bill Staples wrote, “The agentic era is creating structural tailwinds for GitLab, and Q1 showed it clearly with accelerating platform activity and promising traction from GitLab Duo Agent Platform.” As AI eats the software development world, platforms for human coders like GitLab are facing some existential threats. Last month, GitLab shares dropped https://sherwood.news/markets/gitlab-falls-on-workforce-reduction-plan-tied-to-agentic-era/ after it announced a restructuring plan, slashing its country footprint by 30%, and today it confirmed that 350 team members would be cut. The company said it expects the restructing to be complete by the end of FY 2027. Shares of GitLab were down about 15% year to date heading into the report.