Shares in GitLab Inc. fell more than 6% in late trading today after the software development lifecycle platform provider forecast lower-than-expected revenue and its chief financial officer resigned alongside otherwise solid second-quarter earnings and revenue.

For the quarter that ended on July 31, GitLab reported adjusted earnings per share of 24 cents, up from 15 cents per share in the same quarter of the previous fiscal year, on revenue of $236 million, up 29% year-over-year. Both figures were ahead of the 16 cents per share and revenue of $227 million expected by analysts.

Through the quarter, GitLab saw customers with more than $5,000 in annual recurring revenue grow to 10,338, up 11% year-over-year and customers with $100,000 or more in annual recurring revenue grow 25% year-over-year to 1,344. The company’s customers are also sticking around, with GitLab reporting a highly impressive retention rate of 121%.

Business highlights in the quarter included the public beta launch of GitLab Duo Agent Platform, an artificial intelligence orchestration platform designed for human-AI collaboration across the software development lifecycle. The platform works with various third-party AI services, including Anthropic Claude Code, Cursor, Amazon Q, Google Gemini CLI and opencode. That allows developers to collaborate with AI agents that autonomously handle complex development tasks using rich project context for more intelligent AI outcomes.

GitLab also signed a three-year strategic collaboration agreement with Amazon Web Services Inc. that expands access to GitLab Dedicated, a single-tenant offering that enables organizations in highly regulated industries and the public sector to leverage cloud infrastructure while meeting complex compliance requirements, including data residency, isolation, and private networking.

“This quarter’s results demonstrate the strength of GitLab’s AI-native DevSecOps platform as we continue to drive customer-focused innovation,” Chief Executive Bill Staples said in the company’s earnings release. “GitLab Duo Agent Platform represents our vision for human-AI collaboration across the software development lifecycle.”

For its fiscal 2026 third quarter, GitLab expects adjusted earnings per share of 19 to 20 cents on revenue of $238 million to $239 million. The earnings outlook was ahead of the 16 cents expected by analysts, but the revenue outlook fell short of an expected $241.5 million.

For its full fiscal year, the company expects adjusted earnings of 82 cents to 83 cents per share on revenue of $936 million to $942 million.

Along with the quarter earnings report, GitLab also announced that Chief Financial Officer Brian Robins will be leaving the company on Sept. 19 to pursue another opportunity.

Image: GitLab