GitLab reported revenue of $66.8 million, up 58% year-over-year for its third quarter of fiscal 2022, ended October 31, 2021. The company also reported strong dollar-based net retention rate at over 130%.

“We are seeing viral adoption and expanded use of The DevOps Platform, growing our revenue by 58% year-over-year this quarter,” said Sid Sijbrandij, GitLab CEO.

“Customers use GitLab for their most immediate needs and then expand usage over time. This enables them to quickly modernize their software development to meet the demands of digital acceleration. As we look to the fourth quarter and fiscal 2023, we see continued strong momentum toward our large addressable market,” added Sijbrandij.

Business Highlights:

• Customers with more than $5,000 of ARR increased to 4,057, up 66% from Q3 of fiscal 2021.
• Customers with more than $100,000 of ARR increased to 427, up 73% from Q3 of fiscal 2021.
• New and expansion customers included Suzuki Motor Corporation, Smartsheet, and Lockheed Martin.
• GitLab ranked #11 on the Forbes Cloud 100.