GitLab
GTLB · Application Software
$56.28
3.2%Strategy
MSTR · Application Software
$146.01
0.1%The short version
- GitLab is the larger business, with $955M of revenue in fiscal 2026 against $477M for Strategy, about 2.0 times as much.
- GitLab grew revenue faster (25.8%, against 3.0%).
- GitLab kept more of each dollar of sales as operating profit (−7.4% operating margin, against −1,140.8% operating margin).
- GitLab turned more of its sales into free cash flow (23.2% FCF margin, against −15.8% FCF margin).
| Latest fiscal year | GTLB · FY26 | MSTR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.5B | $51.5B |
| Revenue | $955M | $477M |
| Free cash flow | $222M | −$75.5M |
| Net income | −$56.0M | −$3.8B |
| Growth | ||
| Revenue growth | 25.8% | 3.0% |
| 5-year growth | 44.4% | −0.2% |
| Share count change | 3.9% | 44.2% |
| Profitability | ||
| Gross margin | 87.4% | 68.7% |
| Operating margin | −7.4% | −1,140.8% |
| Net margin | −5.9% | −806.4% |
| FCF margin | 23.2% | −15.8% |
| Return on capital | — | −11.4% |
| Return on equity | −6.3% | −12.3% |
| Balance sheet | ||
| Net debt | −$1.3B | $5.9B |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 4 | 4 |
FY17
GTLB —
MSTR $504M
FY18
GTLB —
MSTR $498M
FY19
GTLB —
MSTR $486M
FY20
GTLB $81.2M
MSTR $481M
FY21
GTLB $152M
MSTR $511M
FY22
GTLB $253M
MSTR $499M
FY23
GTLB $424M
MSTR $496M
FY24
GTLB $580M
MSTR $464M
FY25
GTLB $759M
MSTR $477M
FY26
GTLB $955M
MSTR —
GTLB
MSTR
FY17
GTLB —
MSTR 14.5%
FY18
GTLB —
MSTR 0.8%
FY19
GTLB —
MSTR −0.2%
FY20
GTLB −158.0%
MSTR −2.8%
FY21
GTLB −140.6%
MSTR −153.6%
FY22
GTLB −51.0%
MSTR −255.5%
FY23
GTLB −49.8%
MSTR −23.2%
FY24
GTLB −32.3%
MSTR −399.8%
FY25
GTLB −18.8%
MSTR −1,140.8%
FY26
GTLB −7.4%
MSTR —
GTLB
MSTR
FY17
GTLB —
MSTR $74.3M
FY18
GTLB —
MSTR $3.8M
FY19
GTLB —
MSTR $50.7M
FY20
GTLB −$60.2M
MSTR $50.0M
FY21
GTLB −$73.6M
MSTR $91.1M
FY22
GTLB −$53.4M
MSTR $0.7M
FY23
GTLB −$83.5M
MSTR $9.8M
FY24
GTLB $33.4M
MSTR −$56.0M
FY25
GTLB −$67.7M
MSTR −$75.5M
FY26
GTLB $222M
MSTR —
GTLB
MSTR
FY17
GTLB —
MSTR —
FY18
GTLB —
MSTR —
FY19
GTLB —
MSTR —
FY20
GTLB —
MSTR −2.6%
FY21
GTLB —
MSTR −31.4%
FY22
GTLB —
MSTR −40.1%
FY23
GTLB —
MSTR −2.9%
FY24
GTLB —
MSTR −9.9%
FY25
GTLB —
MSTR −11.4%
FY26
GTLB —
MSTR —
GTLB
MSTR
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