GitLab reports Q3 EPS 26c, consensus 20c

Reports Q3 revenue $244.4M, consensus $239.3M. Reports Q3: Customers with more than $5,000 of ARR reached 10,475, an increase of 10% year-over-year. Customers with more than $100,000 of ARR reached 1,405, an increase of 23% year-over-year. Dollar-Based Net Retention Rate was 119%. Total RPO grew 27% year-over-year to $1.0 billion, while cRPO grew 28% to $659.1 million. “More code means more of a need for GitLab (GTLB),” said Bill Staples, GitLab chief executive officer. “Engagement is growing across our platform as we are a critical part of how our customers deliver high quality, secure software. We’ve architected GitLab and Duo Agent Platform to provide intelligent orchestration across the software lifecycle, facilitate trust and accuracy in an AI world, and help accelerate the end to end software delivery process required to win.”