Seats, tiers and now credits
GitLab earns most of its money from per-user subscriptions. In fiscal 2026, the year to 31 January 2026, recognized revenue was $955.2M, up 26%. Self-managed subscriptions, where customers run GitLab on their own servers, brought $568.5M or 59%; SaaS brought $296.2M or 32%; self-managed licences $68.9M or 7%; and professional services $21.7M or 2%. That mix matters for Korea: the majority of revenue comes from customers who keep the platform inside their own walls.
Two other numbers are often quoted with that one and measure different things. Annual recurring revenue (ARR), the yearly value of subscriptions in force, passed $1B during fiscal 2026, according to the CFO. The latest quarter, Q2 fiscal 2027 to 31 July 2026, brought $286.3M of revenue, up 21%, and on 1 September 2026 GitLab guided fiscal 2027 revenue to $1,129M to $1,133M. AI is paid separately: GitLab Credits for agent work, and since Q2 fiscal 2027 a Flex commitment covering seats and credits together, to which more than 130 customers committed more than $20M in its first six weeks.
Growth is real, and slower than GitLab wants
Growth has slowed, and management says so. Revenue rose 26% in fiscal 2026, 23% in Q1 fiscal 2027 to $264.2M, and 21% in Q2. In March 2026 the CEO was blunt.
In the March earnings call, as transcribed by Quartr, Staples said management wanted stronger revenue growth than its guidance implied. He described five areas of work: first orders, sales capacity, product packaging, support for price-sensitive customers and AI capabilities. Those are management's chosen responses, rather than evidence that the slower growth has already been reversed.
He gave reasons. A 50% Premium price increase a few years earlier coincided with AI code experimentation and flat SaaS budgets, the move toward larger customers left fewer technical staff for small ones, and a price-sensitive group worth roughly 20% of ARR came under pressure. The fixes are a dedicated first-order sales team, new product-led on-ramps, account executive capacity up about 30% year over year, and new pricing after customers called the old model too coarse-grained. The expansion engine still works: ARR from the same customers held twelve months earlier, including expansion, price changes, contraction and attrition, was 117% of that prior cohort's ARR at 31 July 2026, the Dollar-Based Net Retention Rate, against 123% for fiscal 2025, and customers above $100,000 of ARR rose 17% to 1,571.
Who else sells this, and the three risks
Microsoft's GitHub is the principal competitor named in the annual report, with Atlassian, JFrog and Harness among the others. GitLab argues it wins on deployment choice inside enterprise security rules, neutrality about AI models, cloud flexibility and its open core. The ground is moving: GitLab began a rebuild of Git itself intended to support 100x growth. Three risks follow from the filings and calls: a smaller footprint after the June 2026 restructuring, growth below management's own bar, and a pricing shift from seats toward agent usage that GitLab is still building.
Say recognized revenue ($955.2M for fiscal 2026) and ARR (above $1B) as two different numbers, and ask how the Korea team is measured against each. Know that Asia Pacific, by contracting entity, was $22.237M or about 2.3% of fiscal 2026 revenue, and that this counts where a contract is booked, not where the customer is.