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GitLab reported better-than-expected profit and sales, and boosted its full-year earnings outlook
GitLab’s CFO is leaving the company to take the same job at Snowflake, and shares of the software security platform dropped.
Brian Robins held the position at GitLab since October 2020, and will be leaving September 19th. He takes over at Snowflake September 22nd.
GitLab reported better-than-expected profit and sales, and boosted its full-year earnings outlook.
Shares of GitLab (GTLB) tumbled 9% Thursday, a day after its CFO left to take a similar position at data cloud software company Snowflake (SNOW). The news offset strong results from the software security platform.
GitLab announced that Brian Robins would step down Sept. 19 “to pursue another opportunity.” It was soon learned that opportunity would be at Snowflake, which said he would be taking over Sept. 22. CEO Sridhar Ramaswamy added that Robins’ “deep commitment to operational rigor and long-term high growth aligns perfectly with the strategic direction of Snowflake,” as it moves to “empower every enterprise with data and AI.”
Robins had been CFO of GitLab since October 2020. The company said it expects to name Vice President of Finance James Shen interim CFO.
Along with the change at CFO, GitLab reported fiscal 2026 second-quarter adjusted earnings per share (EPS) of $0.24, with revenue rising 29% year-over-year to $236.0 million. Both exceeded Visible Alpha estimates.
The company noted that customers with more than $5,000 of annual recurring revenue (ARR) increased 11% to 10,388, and those with more than $100,000 of ARR jumped 25% to 1,344.
GitLab raised its full-year adjusted EPS to $0.82 to $0.83, compared to its earlier forecast of $0.74 to $0.75.
GitLab shares have lost nearly a quarter of their value year-to-date. Shares of Snowflake also dropped in today’s session, down nearly 6% soon after the opening bell, but they remain 40% higher in 2025.
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