GitLab’s Upcoming Q1 Earnings Preview
<p>RBC Capital analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/GTLB'>GitLab Inc. (NASDAQ:GTLB)</a> ahead of the upcoming Q1/24 earning results, scheduled on June 6.</p>
<p>The analysts expect the company to report a slight upside to Street expectations despite a tougher macro. Last quarter management noted the spending environment deteriorated in December and January resulting in lower NRR along with an uptick in contractions and churn. The analysts expect this to continue in Q1/24, though they note that guidance seems appropriately conservative as management factored in H2/24 macro headwinds and has taken more prudent assumptions around customer adds, churn, NRR, and the price increase.</p>
<p>While the macro environment appears to be in line to slightly worse than 90 days ago, the analysts think that much of the headwinds have been factored into the guide, which points to 25% 2024 revenue growth as well as a guidance philosophy that factored in a wider range of outcomes.</p>

NASDAQ:GTLB