GitLab, A New Cloud Generation Winner?
Despite being everything that old people warn you about? The stock has held up over the March lows. We review Q3 earnings and the stock price outlook.
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Should Have Cratered More, Hasn't
GitLab ( GTLB 0.00%↑ ) is properly unprofitable tech. As in, not just accounting-unprofitable but heavily cashflow negative. And yet ... the stock has tested the March lows (which in the market at large weren't anywhere near the lows) and held up over that level despite multiple tests over an 8 month period.
The quarter just printed was good not great on the revenue line - growth decelerated but not all that much - but a significant improvement on the cashflow front, meaning, it burned a lot less money this quarter than previously. The market reacted very positively to earnings.
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