Shares of GitLab Inc. (GTLB), an AI-powered DevSecOps platform, were rising more than 12 percent in pre-market on Wednesday to $50.20, after reporting upbeat quarterly results that surpassed the consensus estimates. The company also provided third-quarter as well as full-year outlook above the Street view.
GitLab posted net income of $12.9 million or $0.08 per share for the second quarter compared with net loss of $50.1 million or $0.33 per share in the same quarter a year ago, primarily helped by growth in revenue.
Excluding one-time items, earnings were $24.5 million or $0.15 per share, that beat the analysts' average estimate of $0.10 per share.
Total revenue grew 31 percent year-on-year to $182.6 million.
For the third quarter, the company expects adjusted EPS in the range of $0.15 - $0.16 and revenue in the range of $187 million - $188 million. Analysts expect the company to report earnings of $0.11 per share on revenue of $187.04 million.
For the full year, adjusted EPS is expected between $0.45 and $0.47 revenue between $742 million and $744 million. The Street expects earnings of $0.36 per share and revenue of $736.61 million for the year.
GitLab stock had closed at $44.68, down 5.74 percent on Tuesday. It has traded in the range of $40.19 - $78.53 in the last 1 year.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.