GitLab Inc. reported its first-quarter fiscal year 2026 financial results with total revenue of $214.5 million, representing a 27% increase year-over-year and slightly exceeding analyst estimates of $213.2 million. The company posted an adjusted earnings per share (EPS) of $0.17, surpassing the consensus estimate of $0.15, while GAAP EPS was a loss of $0.22. GitLab's GAAP operating margin was negative 16%, but its non-GAAP operating margin stood at 12%. Operating cash flow reached $106.3 million, with adjusted free cash flow at a record $104.1 million. Subscription revenues increased 28.6% year-over-year to $194 million, accounting for 92% of total revenue, and license revenues rose 11.2% to $20 million. The number of customers with annual recurring revenue (ARR) above $5,000 grew 13% to 10,104. The company highlighted the launch of GitLab 18, which integrates AI-native features across DevOps, security, and compliance. For the second quarter, GitLab provided revenue guidance of $226 million to $227 million and EPS guidance of $0.16 to $0.17, slightly below consensus revenue estimates. The company raised its full-year EPS outlook to $0.74–$0.75, above the $0.73 consensus, with revenue guidance between $936 million and $942 million, slightly below the $941.7 million estimate. Despite the strong quarterly performance and record adjusted free cash flow, GitLab's shares fell more than 12% in after-hours trading due to cautious revenue guidance for the upcoming quarter.