Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for all investors, so please ensure you fully understand all of the risks. Most retail clients lose money when trading CFDs.
Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for all investors, so please ensure you fully understand all of the risks. Most retail clients lose money when trading CFDs.

GitLab Inc debuts on Thursday!

2:34 PM 13 October 2021

GitLab, an all-remote software company, will debut on the Nasdaq stock exchange this Thursday. Company's shares will be available for trading on xStation platform once regular trading starts tomorrow. While an almost $10 billion IPO valuation may look small compared to Coinbase or Robinhood IPOs from earlier this year, the company has some of the world's top tech companies among its customers. Take a look at our brief overview of the company!

GitLab Inc

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

GitLab Inc is a software company. While not everyone may be familiar with GitLab Inc, it's GitLab platform is well-known among software developers. GitLab is a DevOps platform launched as a free and open-source project that aims to optimize workflow between software development and IT operations. Project began in 2011 and in 2014 an open-core business model was adopted that allows for monetization of open source projects. Using the platform remains free for registered users but additional features become available with paid subscription. 

Client base

The company has a large client base and claims that its platform is used by more than 100 thousand companies and institutions. Among those we can find some big and well-known companies like Alphabet Cloud Services, NVIDIA, Alibaba Group or Amazon's AWS. Microsoft's Azure was also a client of GitLab until it acquired a rival Git repository, GitHub, in 2018. As GitLab has a subscription-based business, an Annual Recurring Revenue (ARR) is a metric to watch when analysing this company. GitLab's SaaS (software as a service) revenue growth outpaced its total revenue growth in full-2020 as well as during the first half of 2021. This is a positive development as higher share of recurring revenue makes business more predictable. The company has also managed to significantly increase the number of customers across its 3-tiers of services during the year ended on July 31, 2021 (see the table below).

GitLab managed to significantly increase the number of its top ARR customers during a year ended on July 31, 2021. Source: GitLab SEC filing

What makes company unique?

One thing that makes GitLab a unique company is a model in which it operates. It is an all-remote software company, meaning that all of its employees are working from home. While work-from-home became popular during Covid-19 pandemic, GitLab decided on such a work model at its inception, long before the pandemic surfaced. The company has no headquarters. On one hand, it allows for cost reduction as the company does not have to maintain the office. On the other hand, it creates some risks. The company itself said that lack of office and company-owned equipment creates risk that equipment owned by its employees may be insufficient to perform some tasks.

IPO price

Initial IPO price range set by GitLab Inc. was $55-60 per share. However, it was boosted to $66-69 per share earlier this week due to strong demand. Such an IPO price range values the company at almost $10 billion. While this is nowhere as big as the $32 billion valuation of Robinhood during its debut or the over-80 billion USD listing of Coinbase, GitLab's IPO will be closely watched due to how important the company's services are to some of the world's biggest tech companies. Nevertheless, traders should keep in mind that although the company's business is improving, it is still generating losses.

Shares of GitLab will be available for trading on xStation platform since the company's IPO on Thursday, October 14. Shares will trade on xStation under GTLB.US ticker. However, it should be noted that regular share trading during hot IPOs like this often does not start until 1-3 hours of the cash session have passed.

Basic financial data from GitLab Inc. Source: GitLab SEC filing

The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.

Share:
Back
Xtb logo

Join over 935 000 investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
SESSID cc 2 March 2024
__hssc cc 8 September 2022
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gat_UA-190421227-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 31 March 2024
__hstc cc 7 March 2023
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
lang
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id cc 7 September 2024
UserMatchHistory cc 31 March 2024
bcookie cc 1 March 2025
lidc cc 2 March 2024
lang
bscookie cc 1 March 2025
li_gc cc 28 August 2024

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language