GitLab Inc. (NASDAQ:GTLB) Delivers Strong Q1 Earnings Driven by Enterprise and AI Growth

Font: Financial Modeling Prep  • Jun 03, 2026

• GitLab Inc. (NASDAQ:GTLB) exceeded Q1 earnings and revenue expectations, reporting $0.23 EPS and $264.16 million in revenue.
• Growth was fueled by robust demand from large businesses and successful early adoption of its new artificial intelligence (AI) products.
• The company's focus on enterprise clients is evident, with annual recurring revenue (ARR) from customers generating over $100,000 increasing by 18%, now accounting for over 75% of total recurring revenue.

GitLab Inc. (NASDAQ:GTLB) is a company that provides a single application for the entire software development and operations lifecycle. This is often called a DevSecOps platform. It helps teams collaborate on creating, securing, and running software. GitLab operates in a competitive market with various tools for software development.

On June 2, 2026, GitLab reported strong first-quarter results. The company announced an earnings per share (EPS) of $0.23, which was higher than the expected $0.20. As highlighted by Zacks, this is also an improvement from the $0.17 per share earned in the same quarter a year ago.

The company also posted revenue of $264.16 million, beating the analyst estimate of $254.23 million. This represents a 23% increase from the $214.51 million reported in the prior year. Executives attribute this growth to strong demand from large businesses and early success with its new artificial intelligence (AI) products.

GitLab's focus on larger clients is paying off. The company now has 1,519 customers that generate over $100,000 in annual recurring revenue (ARR), an 18% increase from last year. These large customers now account for over 75% of the company's recurring revenue, showing strength in the enterprise market.