GitLab (GTLB) Q3 2026 Revenue Growth Outpaces Ongoing EPS Loss, Testing Profitability Narrative

GitLab (GTLB) just posted its Q3 2026 numbers, landing revenue at about $244 million with basic EPS of roughly -$0.05 as the company continues to prioritize growth over bottom line profits. The company has seen revenue step up from around $183 million in Q2 2025 to $196 million in Q3 2025, then $211 million in Q4 2025 and $214 million, $236 million and now $244 million across the first three quarters of 2026. At the same time, EPS swung from a positive $0.18 in Q3 2025 to modest losses through 2026, setting the stage for an earnings season where investors will be closely focused on how quickly margins can catch up to the expanding top line.

See our full analysis for GitLab.

With the headline numbers on the table, the next step is to weigh them against the big narratives around GitLab, from growth durability to the path toward profitability, and see which stories still hold up under the latest data.

See what the community is saying about GitLab

Losses Narrow as Revenue Scales

• On a trailing 12 month basis, GitLab generated about $906 million of revenue while posting a net loss of roughly $46 million, showing that losses are small relative to the size of the business.
• Analysts' consensus view that AI driven platform upgrades can support long term growth and better profitability meets mixed evidence in these numbers.
  • The platform oriented story is backed by revenue rising from about $666 million to $906 million over the last six trailing 12 month snapshots, aligning with expectations of steady expansion.
  • At the same time, the shift from a $13 million trailing profit to a $46 million trailing loss over the last three snapshots reminds investors that the path to monetizing those AI and security features is not yet flowing consistently into the bottom line.

GitLab's expanding revenue base and still modest absolute losses make it a prime case study for how far an AI heavy DevSecOps platform can go before profits catch up with growth. 🐂 GitLab Bull Case

Solid Growth, No Near Term Profits

• Forecast revenue growth of roughly 15.5% per year sits alongside expectations that GitLab will remain unprofitable for at least the next three years, even after shrinking losses by about 12.3% per year over the past five years.
• Bears focus on this disconnect between growth and profits and see several ways it could weigh on future earnings power.
  • Concerns about slower net new customer additions and heavier reliance on existing customers tie directly into the need for that 15.5% growth rate to keep holding up if margins are not yet in the black.
  • Execution risks from shifting to a hybrid seat plus usage model and recent go to market changes sit uncomfortably next to the fact that trailing 12 month results have swung from a $6 million loss to a $46 million loss over the last five data points.

If GitLab cannot translate its forecast growth into clear progress toward profitability, skeptics argue that its long term earnings picture may look far less compelling than the top line suggests. 🐻 GitLab Bear Case

Valuation Straddles Growth And Risk

• At a current share price of $37.83, GitLab trades on about 7 times trailing 12 month sales, cheaper than the 8.3 times peer average but richer than the 4.9 times broader US software group, while sitting below a DCF fair value of roughly $64.10.
• How investors interpret this in light of the consensus narrative comes down to whether growth and platform depth justify that middle ground multiple.
  • Supporters highlight that GitLab has lifted trailing revenue from about $666 million to $906 million while integrating security and compliance into its DevSecOps stack, which aligns with the idea of a premium, unified platform.
  • More cautious investors point to the trailing $46 million loss and the expectation of no profits over the next three years as reasons the stock might stay closer to the broader software valuation band than the DCF fair value implies.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for GitLab on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

See the numbers from another angle and want to test that view fast? Shape your own GitLab story in just a few minutes, Do it your way.

A great starting point for your GitLab research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

Explore Alternatives

GitLab’s solid revenue growth is overshadowed by persistent losses, execution risk around new pricing models, and uncertainty over when profits will reliably materialize.

If you want growth backed by cleaner financial momentum, use our stable growth stocks screener (2071 results) to quickly zero in on companies already pairing consistent expansion with clearer earnings progress.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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