Gitlab
GTLB on Nasdaq. GitLab sells software that helps teams build and secure programs, to businesses. Market value $6.4bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.48 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -28 cents a year. Above 10 is good.
Quality score: 48 of 100. Price score: 13 of 100. Our list needs 70 on quality and 60 on price.
$51.63 a share, 176% above its 1-year low
Over the past year the price has ranged from $18.73 to $55.55.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $253m | $424m | $580m | $759m | $955m |
| Operating margin | |||||
| Operating margin | -51.0% | -49.8% | -32.3% | -18.8% | -7.4% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.08bn | 0.15bn | 0.15bn | 0.16bn | 0.17bn |
Health checks
- Free cash flow positive2 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)4 of 8 checks we could run
- Profit backed by cash (accruals)No
- Debt0.00× equity
- Revenue growth, five yearsStrong, 39.4% a year
- Buying back its own sharesNo, 109% more shares since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $286 million last quarter, up 21% on a year ago.
- A loss of $37 million, compared with a loss of $9 million a year ago.
- It loses 9 cents on each $1 of sales, compared with 12 cents a year earlier.
- Spare cash over the past 12 months: $214 million, up from $36 million.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- It has $226 million more cash than debt, down from $261 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $196m |
| January 2025 | $211m |
| April 2025 | $215m |
| July 2025 | $236m |
| October 2025 | $244m |
| January 2026 | $260m |
| April 2026 | $264m |
| July 2026 | $286m |
| Quarter to | Amount |
|---|---|
| October 2024 | $29m |
| January 2025 | $7m |
| April 2025 | -$36m |
| July 2025 | -$9m |
| October 2025 | -$8m |
| January 2026 | -$3m |
| April 2026 | -$5m |
| July 2026 | -$37m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 17 March 2026
- Next quarterly (estimated, 10-Q)
- 2 December 2026
Who owns it
5 long-term investors we follow own it, up from 2 last quarter. 400 funds in all.
- GMOJeremy Grantham
- Value
- $1m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Impactive CapitalLauren Taylor Wolfe | $127m | 9.1% | Added |
| Royce & AssociatesChuck Royce | $6m | <0.1% | New |
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | New |
| GMOJeremy Grantham | $1m | <0.1% | |
| EdgePoint Investment GroupTye Bousada | $266,023 | <0.1% | New |
Largest holders overall
- AQR Capital Management$310mAdded
- Vanguard Portfolio Management$272mAdded
- BlackRock$270mAdded
- Primecap Management$235mAdded
- Vanguard Capital Management$197mAdded
- D. E. Shaw$128mAdded
- Impactive Capital$127mAdded
- Atreides Management, LP$103mNew
- Disciplined Growth Investors$101mAdded
- Goldman Sachs Group$95mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Sytse SijbrandijPassive investorat least 10.7%(filed with 2 related holders)Since 30 September 2025
- Vanguard Portfolio ManagementPassive investor5.7%Since 31 March 2026
- AQR Capital Management, LLCPassive investorat least 5.7%(filed with 1 related holder)Since 31 March 2026
- Alphabet Holdings LLCPassive investorat least 4.3%(filed with 6 related holders)Since 31 December 2024
- Divesh MakanPassive investorat least 3.8%(filed with 22 related holders)Since 31 December 2024
- BlackRock, Inc.Passive investorSold down below 5%Since 30 June 2026
- Eminence Capital, LPPassive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Sytse Sijbrandij Passive investor | at least 10.7% (filed with 2 related holders) | 30 September 2025 | |
Vanguard Portfolio Management Passive investor | 5.7% | 31 March 2026 | |
AQR Capital Management, LLC Passive investor | at least 5.7% (filed with 1 related holder) | 31 March 2026 | |
Alphabet Holdings LLC Passive investor | at least 4.3% (filed with 6 related holders) | 31 December 2024 | |
Divesh Makan Passive investor | at least 3.8% (filed with 22 related holders) | 31 December 2024 | |
BlackRock, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
Eminence Capital, LP Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $500,854 of shares on the open market. 7 sold $172m, $128m of it under preset trading plans.
- Staples WilliamChief Executive Officer, DirectorBoughtunder a preset trading plan
- Date
- 30 September 2026
- Shares
- 2,677
- Price
- $46.62
- Value
- $124,802
- Padisetty SivaprasadChief Technology OfficerSoldunder a preset trading plan
- Date
- 28 September 2026
- Shares
- 51,915
- Price
- $45.78
- Value
- $2m
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 28 September 2026
- Shares
- 430,000
- Price
- $45.84
- Value
- $20m
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 25 September 2026
- Shares
- 705,490
- Price
- $47.75
- Value
- $34m
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 24 September 2026
- Shares
- 980,710
- Price
- $48.63
- Value
- $48m
- Mundy SimonChief Accounting OfficerSoldunder a preset trading plan
- Date
- 7 August 2026
- Shares
- 8,725
- Price
- $38.00
- Value
- $331,550
- Staples WilliamChief Executive Officer, DirectorBoughtunder a preset trading plan
- Date
- 30 June 2026
- Shares
- 4,188
- Price
- $29.36
- Value
- $122,960
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 15 June 2026
- Shares
- 116,200
- Price
- $28.44
- Value
- $3m
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 116,200
- Price
- $24.85
- Value
- $3m
- Sijbrandij SytseDirectorSoldunder a preset trading plan
- Date
- 15 April 2026
- Shares
- 116,200
- Price
- $20.77
- Value
- $2m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 30 September 2026 | Staples William Chief Executive Officer, Director | Bought under a preset trading plan | 2,677 | $46.62 | $124,802 |
| 28 September 2026 | Padisetty Sivaprasad Chief Technology Officer | Sold under a preset trading plan | 51,915 | $45.78 | $2m |
| 28 September 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 430,000 | $45.84 | $20m |
| 25 September 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 705,490 | $47.75 | $34m |
| 24 September 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 980,710 | $48.63 | $48m |
| 7 August 2026 | Mundy Simon Chief Accounting Officer | Sold under a preset trading plan | 8,725 | $38.00 | $331,550 |
| 30 June 2026 | Staples William Chief Executive Officer, Director | Bought under a preset trading plan | 4,188 | $29.36 | $122,960 |
| 15 June 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 116,200 | $28.44 | $3m |
| 18 May 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 116,200 | $24.85 | $3m |
| 15 April 2026 | Sijbrandij Sytse Director | Sold under a preset trading plan | 116,200 | $20.77 | $2m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 17 Mar 2026, plus the 10-Q filed 2 Sep 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
An insider just bought shares with their own money. The deep dive asks why.
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.