GitLab beats Q1 earnings estimates, raises 2027 guidance, stock jumps nearly 7%

GitLab reported Q1 earnings of 23 cents per share, beating the 21-cent analyst estimate, with revenue of $264.16 million surpassing the expected $254.56 million. The company announced a restructuring plan including a 14% workforce reduction and exiting 22 countries to streamline operations. CEO Bill Staples highlighted strong platform activity and growth from the GitLab Duo Agent Platform. GitLab also raised its fiscal 2027 adjusted EPS guidance to 79-82 cents and revenue outlook to $1.112-$1.118 billion, slightly above analyst expectations. Following the report, GitLab's stock rose nearly 7% in after-hours trading.