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Gitlab S-1

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Re: Gitlab S-1

#81

Post by RC_ITR »

mason55 wrote: post #55
joelbluminator wrote: post #51

Earlier quoted context omitted.

Yes and seeing the loss grow like that yearly is not a good look. Otherwise the product is really good.

Can’t really say that without a cost breakdown. If the LTV of a customer is greater than the CAC then your losses will grow as you do until you reach a more steady state and reduce your marketing spend. It takes awhile for a SaaS customer to pass their CAC. But if they do then they should be closer to 80% margin after that.

Yeah, but burning $183 to add $71 in revenue is a tough pill to swallow.

Sure, it probably will pay back eventually, but as an investor, you really have to be bullish on retention/expansion. to get a reasonable LTV out of that.

Most bulls have been right in the past, but eventually the music stops (look at the tenuous position Slack was in before acquisition).

Re: Gitlab S-1

#82

Post by snicker7 »

The big issue we have with GitLab is the pricing. Ultimate is literally five (!!!) times more than premium. And there are only a couple of features that we want from ultimate.

Re: Gitlab S-1

#83

Post by yunohn »

zndr wrote: post #76
LewisVerstappen wrote: post #69

Earlier quoted context omitted.

Interesting, thanks for the link. Median salary seems to be $170k according to Levels.fyi -> https://www.levels.fyi/company/GitLab/salaries/Software-Engi...

You can actually see their salary calculator here https://about.gitlab.com/handbook/total-rewards/compensation...

Are you able to actually use the calculator? You’ve linked the documentation page for it, but the actual tool seems restricted.

Re: Gitlab S-1

#84

Post by mythz »

Surprised to see them IPO, IMO their best chance for their biggest valuation was to sell to AWS or GCP after they realize losing GitHub to MS/Azure was a major competitive disadvantage.

From their financials they've raised 415M total and are still making a loss that's widening for what looks like is only 3,632 customers (ARR>5k), i.e. 114k raised per base customer.

They'll likely have a successful exit but not very optimistic about their future given they have to compete with ubiquity and deep pockets of GitHub/MS and going IPO makes an acquisition target less likely. Given they have formidable and dominant competition with GitHub who's been executing on all cylinders I'll be steering clear of this IPO.

Re: Gitlab S-1

#85

Post by dcchambers »

eftokay83 wrote: post #61
dcchambers wrote: post #38

I haven't personally had a compelling enough reason to move from GitHub to GitLab, so I mostly just use it to mirror a couple of my repos there in case people prefer to browse various open source projects via GitLab. Regardless, I think competition in the space is a great thing. GitLab has come a long way and there are certain things I really like about the company. For example, I love how they tend to do everything…

Mind to share a "quick link" to the mentioned documents?

Sure, the most obvious link is this: https://gitlab.com/gitlab-com

Here's a few examples:

Runbooks: https://gitlab.com/gitlab-com/runbooks - which I've used as inspiration for runbooks on my own team.

Handbook: https://about.gitlab.com/handbook/

Roadmap/Product Vision: https://about.gitlab.com/direction/

A note in their handbook on transparency: https://about.gitlab.com/handbook/values/#transparency

Re: Gitlab S-1

#86

Post by [deleted] »

nix23 wrote: post #26
rvz wrote: post #12

> Our business has experienced rapid growth. We generated revenue of $81.2 million and $152.2 million in fiscal 2020 and 2021, respectively, representing growth of 87%. We generated revenue of $63.9 million and $108.1 million for the six months ended July 31, 2020 and July 31, 2021, respectively, representing year over year growth of 69%. During this period, we continued to invest in growing our business to capitaliz…

Why the down-votes? ....ahh humans :)

[deleted]

Re: Gitlab S-1

#87

Post by sjatkins »

alberth wrote: post #36

I realize plenty of tech companies IPO and aren’t profitable. But it seems scary to be losing more money than what you generated in total revenues. REVENUE: 2021: $152m (loss of $192m) 2020: $81m (loss of $130m) EDIT: reworded for clarity.

Yeah, remember how Amazon got theirs. Not that those results will apply here of course. A lot depends on how much upside your investors and stock holders believe will eventually come to pass. Hard to say you are going to take much market share from a project owned and backed by Microsoft though.

Re: Gitlab S-1

#88

Post by greghendershott »

alberth wrote: post #36

I realize plenty of tech companies IPO and aren’t profitable. But it seems scary to be losing more money than what you generated in total revenues. REVENUE: 2021: $152m (loss of $192m) 2020: $81m (loss of $130m) EDIT: reworded for clarity.

I am by no means a finance or investing whiz. But the first thing I like to do is skip ahead to the cash flow statement.

In this case https://www.sec.gov/Archives/edgar/data/1653482/000162828021...

The income statement, balance sheet, and cash flow are connected; sides of a triangle.

Each of the three views alone is potentially misleading. But for an initial impression and quick gut check I like to start with cash flow.

Re: Gitlab S-1

#89

Post by base698 »

jenny91 wrote: post #73

Does anybody actually embrace Gitlab fully? Anybody I've seen uses it for git, and at most CI/CD on top. But who else (other than gitlab themselves) uses all of their stuff. They're pushing really hard for that with their "the devops platform" thing, etc.

I manage two teams and we use it for "everything" and have as part of our team values to use Gitlab fully.

We are on premium, the ultimate features would be an easier way to replace Jira but we manage with epics, milestones and iterations.

Re: Gitlab S-1

#90

Post by toastal »

whateveracct wrote: post #35
ithinkso wrote: post #20

Earlier quoted context omitted.

It is good for GitLab, what a shame for GitLab's users

It's only a matter of time before I move to sourcehut I think.

I paid for it recently. So far it's been a mixed bag for me. The core works as intended, but little annoyances can add up.

I love that the design is small and light, but almost none of the languages is use are supported by Pygments for highlighting so someone browsing the code may find it off putting (GitLab I can use gitattributes to select a different but compatible Rouge highlighter). I like that NixOS is a first-class compatible image, but GitLab offered more in build options (run certain tasks only on tags, run this job on a cron, etc.). I love that I can push any markup I want to the ‘README’ of a project, but I wouldn't have to if Markdown wasn't the only option (MD's so limiting without admonitions, definition lists, block titles, ToC, etc.). Project discovery has a lot to be desired, but at least it doesn’t have gamification like “stargazers”.

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