It’s been a week of mixed results for the software technology world: GitLab, Box, Yext and Asana reported their third-quarter results in the past few days, and not all of them did well.
GitLab is the clear winner of the week. The company beat expectations for both revenue and profit, and posted its first adjusted operating profit since its IPO. Investors were understandably very pleased with the company’s revenue rising 32%, gross margins of 90%, and net retention of 128%: GitLab’s market cap increased by almost a billion dollars to $9.18 billion the day after its Q3 results, per YCharts.