Gitlab Inc
For the period ended Jul 31, 2024. Filed Sep 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 31, 2024 · Filed Sep 4, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(in thousands, except per share data)
| July 31, 2024(1) | January 31, 2024(1) | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $438,616 | $287,996 |
| Short-term investments | 644,488 | 748,289 |
| Accounts receivable, net of allowance for doubtful accounts of $679 and $673 as of July 31, 2024 and January 31, 2024, respectively | 165,001 | 166,731 |
| Deferred contract acquisition costs, current | 33,841 | 32,300 |
| Prepaid expenses and other current assets | 32,410 | 45,601 |
| Total current assets | 1,314,356 | 1,280,917 |
| Property and equipment, net | 2,899 | 2,954 |
| Operating lease right-of-use assets | 482 | 405 |
| Goodwill | 16,017 | 8,145 |
| Intangible assets, net | 21,867 | 1,733 |
| Deferred contract acquisition costs, non-current | 15,753 | 19,317 |
| Other non-current assets | 4,888 | 4,390 |
| TOTAL ASSETS | $1,376,262 | $1,317,861 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $3,219 | $1,738 |
| Accrued expenses and other current liabilities | 272,164 | 286,178 |
| Accrued compensation and benefits | 29,117 | 35,809 |
| Deferred revenue, current | 362,348 | 338,348 |
| Total current liabilities | 666,848 | 662,073 |
| Deferred revenue, non-current | 14,732 | 23,794 |
| Other non-current liabilities | 6,678 | 14,060 |
| TOTAL LIABILITIES | 688,258 | 699,927 |
| Commitments and contingencies (Note 14) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Preferred stock, $0.0000025 par value; 50,000 shares authorized as of July 31, 2024 and January 31, 2024; no shares issued and outstanding as of July 31, 2024 and January 31, 2024 | — | — |
| Class A Common stock, $0.0000025 par value; 1,500,000 shares authorized as of July 31, 2024 and January 31, 2024; 136,462 and 114,670 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectively | — | — |
| Class B Common stock, $0.0000025 par value; 250,000 shares authorized as of July 31, 2024 and January 31, 2024; 23,963 and 42,887 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectively | — | — |
| Additional paid-in capital | 1,833,786 | 1,718,661 |
| Accumulated deficit | (1,191,517) | (1,149,822) |
| Accumulated other comprehensive income | 570 | 2,335 |
| Total GitLab stockholders’ equity | 642,839 | 571,174 |
| Noncontrolling interests | 45,165 | 46,760 |
| TOTAL STOCKHOLDERS’ EQUITY | 688,004 | 617,934 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $1,376,262 | $1,317,861 |
(1) As of July 31, 2024 and January 31, 2024, the condensed consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $45.0 million and $47.6 million, respectively, and liabilities of $6.5 million and $6.1 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion.
The accompanying notes are an integral part of these condensed consolidated finan cial statements.
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