GitLab Inc. Q2 FY2027 Earnings Results vs. Expectations
ReportsSep 1, 2026
SlotAfter Market Close
Results are out
This quarter has reported. The consensus below is what we expected going in.
What the Street expects
EPS · NON-GAAP
$0.18
Guided $0.17–$0.18
QoQ—
YoY—
Revenue
$273.1M
Guided $272M–$274M
QoQ+3.4%
YoY+15.7%
QoQ and YoY are what the consensus implies against the prior quarter and the prior year.
Also on the card
Company guidance
$272-$274M revenue, non-GAAP EPS $0.17-$0.18
Guided growth
+15.3% to +16.1%, against +23.1% in April
Op. margin
10.9-11.8% non-GAAP, against 14.2% in April
Restructuring
About $19M of a $30-$35M total this quarter
The cut
350 roles, 14% of staff, and 22 country exits
Implied H2
+14.5% from the $1,112-$1,118M full-year guide
Quarter ended
July 31, 2026
What to watch
- Revenue against $272–274 million, and the full-year range. A raise to the full year says the 14.5% second half was conservatism. Left alone, it is the plan.
- Non-GAAP operating margin against the guided 10.9–11.8%, and what management says about why a quarter with 14% fewer people converts less. This is the single least-explained number in the guide.
- Customers above $5,000 of ARR against 10,831 and +7%, and dollar-based net retention against 117%. Seven consecutive quarters of decline in both. An eighth makes the bear case's assumption the observed trend rather than an extrapolation.
- Current RPO against $724.1 million and +24%. It has been growing faster than revenue, which is the only forward-looking disagreement with the guide.
- Whether the restructuring cost stays inside $30–35 million, with about $19 million in this quarter, and whether the country exits show up in the customer counts before they show up in the cost line.
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| FY2025 Q3 | — | $0.18 | — |
| FY2025 Q4 | — | $0.04 | — |
| FY2026 Q1 | — | −$0.22 | — |
| FY2026 Q2 | — | −$0.06 | — |
| FY2026 Q3 | — | −$0.05 | — |
| FY2026 Q4 | — | −$0.02 | — |
| FY2027 Q1 | — | −$0.03 | — |
| FY2027 Q2 | $0.18 | $0.24 | +33% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Every quarter
Read the full preview → Q2 FY2027 release page View GTLB stock page