GitLab Q1 Revenue Hits $264M With 23% Growth but Price-Sensitive Segment Remains Under Pressure

GitLab Inc reported revenue of $264 million for the first quarter of fiscal 2027, a 23% increase from the same period a year earlier, during its earnings conference call on Tuesday. Non-GAAP operating profit reached $38 million, producing a 14% operating margin.

The company counted 1,519 customers paying more than $100,000 annually, an 18% rise year over year, and recorded a dollar-based net retention rate of 117%.

Gross bookings growth reached its highest level in four quarters. GitLab Dedicated surpassed $70 million in annual recurring revenue, while Ultimate accounted for 57% of arrangements and appeared in seven of the top ten deals. The GitLab Duo Agent Platform generated more net new annual recurring revenue in its first quarter than DuoPro and DuoEnterprise combined in any prior quarter and attached to four of the top ten deals.

GitLab plans to move DuoPro and DuoEnterprise subscriptions into the Duo Agent Platform over fiscal 2027. Code pushes across the paid SaaS customer base rose 49% year over year. Continuous Integration pipeline growth accelerated to 38% in April.

One customer increased the volume of code in its repositories by two and a half times in six months. New logo growth improved 30% compared with the year-ago quarter, and the company recorded its highest absolute first-order count in ten quarters. Fiscal 2026 quota-carrying headcount investments began contributing to gross bookings.

The price-sensitive customer segment, representing about 20% of annual recurring revenue, continued to face pressure. GitLab Duo Agent Platform paid consumption run rate reached nearly $20 million at the end of its first full quarter after reaching general availability two weeks before the quarter began.

GitLab expanded relationships with AWS, Google Cloud, and Anthropic during the quarter, making Duo Agent Platform spend eligible against committed cloud budgets on those marketplaces.

S. 5 hours of savings per task; the bank’s active user base is expected to grow nearly 20 times upon full deployment later in 2026. GitLab began a generational rebuild of Git to support scale for agent-based workloads and is partnering with an AI lab on a new Git service with APIs optimized for agents.

The company will introduce GitLab Flex, a buying program allowing mixed seat-based and credit-based purchases, at its Transcend event next week. Zillow Group, a GitLab customer for more than a decade, operates the United States’ largest real estate marketplace and runs an internal AI-powered pipeline engine that generates thousands of GitLab projects and pipelines. 118 billion.

The company plans to reinvest savings from workforce restructuring into AI developments and research and development. Bill Staples, CEO of GitLab, and Jessica Ross, CFO of GitLab, spoke on the call.