On this page of StockholderLetter.com we present the latest annual shareholder letter from Gitlab Inc. — ticker symbol GTLB. Reading current and past GTLB letters to shareholders can bring important insights into the investment thesis.
2026 Annual Report
GitLab Inc. Annual Stockholder Letter Fiscal Year 2026 Dear Fellow Stockholders, Fiscal year 2026 was a significant year for GitLab. We surpassed $1 billion in ARR, grew revenue 26% to $955 million, and generated $220 million in free cash flow an increase of over 80% year over year. We delivered our highest net new ARR year and quarter ever, and now serve 155 million-dollar plus customers. I share these results not simply as markers of financial progress, but as evidence of something more fundamental: as companies race to define the future of software development, our customers signaled their confidence in us with their budgets and their trust. GitLab is more mission-critical to them today than it has ever been. As AI-generated code floods into enterprise codebases, the bottleneck in software development is shifting decisively away from writing code and toward everything that follows: reviewing it, testing it, securing it, deploying it, and governing it against the complex standards of real businesses operating in the real world. That is precisely where GitLab lives, and it is a position that becomes harder to replicate with every commit, pipeline, and security scan that flows through our platform. The longer a customer runs on GitLab, the richer the context we hold and the smarter their software factory becomes. This year we leaned into that reality. We launched the GitLab Duo Agent Platform, repositioning GitLab as an intelligent orchestration platform where software teams and AI agents collaborate at enterprise scale. GitLab Ultimate, the tier that embeds security, compliance, and governance directly into the development workflow, grew to 56% of total ARR, a clear signal that customers view these capabilities as non-negotiable. Platform engagement measured in CI pipelines run, deployments executed, releases shipped, and security scans completed continues to grow well in excess of revenue. As the only pure-play, cloud-agnostic, model-neutral independent public company delivering DevSecOps, we stand for something our customers value deeply: the freedom to build software in the cloud of their choice, with the AI tools and vendors of their choice. We enter fiscal year 2027 with clear eyes about the work ahead. We are growing go-to-market capacity, introducing new monetization vectors, and converting early Duo Agent Platform pilots into production deployments. The more software the world produces, the more essential GitLab becomes. Our Board of Directors shares this view. I m pleased that our Board of Directors has authorized GitLab's first share repurchase program at $400 million, reflecting confidence in our fundamentals and the growth plan ahead.
None of this is possible without the people and partners who make GitLab what it is. I want to thank our customers for their trust, our investors and shareholders for their conviction, our Board of Directors for their counsel, our partners for extending our reach, the broader GitLab community for its contributions, and above all, our team members for living our values, advancing our mission, and delivering results for customers every day. I am excited about the year ahead. Sincerely, Bill Staples Chief Executive Officer GitLab Inc.
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GTLB Shareholder/Stockholder Letter Transcript:

2026 Annual Report

GitLab Inc.
Annual Stockholder Letter
Fiscal Year 2026
Dear Fellow Stockholders,
Fiscal year 2026 was a significant year for GitLab. We surpassed $1 billion in ARR, grew
revenue 26% to $955 million, and generated $220 million in free cash flow     an increase of
over 80% year over year. We delivered our highest net new ARR year and quarter ever, and
now serve 155 million-dollar plus customers. I share these results not simply as markers of
financial progress, but as evidence of something more fundamental: as companies race to
define the future of software development, our customers signaled their confidence in us with
their budgets and their trust. GitLab is more mission-critical to them today than it has ever been.
As AI-generated code floods into enterprise codebases, the bottleneck in software development
is shifting decisively away from writing code and toward everything that follows: reviewing it,
testing it, securing it, deploying it, and governing it against the complex standards of real
businesses operating in the real world. That is precisely where GitLab lives, and it is a position
that becomes harder to replicate with every commit, pipeline, and security scan that flows
through our platform. The longer a customer runs on GitLab, the richer the context we hold and
the smarter their software factory becomes.
This year we leaned into that reality. We launched the GitLab Duo Agent Platform, repositioning
GitLab as an intelligent orchestration platform where software teams and AI agents collaborate
at enterprise scale. GitLab Ultimate, the tier that embeds security, compliance, and governance
directly into the development workflow, grew to 56% of total ARR, a clear signal that customers
view these capabilities as non-negotiable. Platform engagement measured in CI pipelines run,
deployments executed, releases shipped, and security scans completed continues to grow well
in excess of revenue.
As the only pure-play, cloud-agnostic, model-neutral independent public company delivering
DevSecOps, we stand for something our customers value deeply: the freedom to build software
in the cloud of their choice, with the AI tools and vendors of their choice.
We enter fiscal year 2027 with clear eyes about the work ahead. We are growing go-to-market
capacity, introducing new monetization vectors, and converting early Duo Agent Platform pilots
into production deployments. The more software the world produces, the more essential GitLab
becomes.
Our Board of Directors shares this view. I   m pleased that our Board of Directors has authorized
GitLab's first share repurchase program at $400 million, reflecting confidence in our
fundamentals and the growth plan ahead.

None of this is possible without the people and partners who make GitLab what it is. I want to
thank our customers for their trust, our investors and shareholders for their conviction, our Board
of Directors for their counsel, our partners for extending our reach, the broader GitLab
community for its contributions, and above all, our team members     for living our values,
advancing our mission, and delivering results for customers every day.
I am excited about the year ahead.
Sincerely,
Bill Staples
Chief Executive Officer
GitLab Inc.


shareholder letter icon 5/1/2026 Letter Continued (Full PDF)
 

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