Estados financieros detallados de GitLab Inc. (GTLB): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
GitLab Inc. registró ingresos de $955.2M en el último ejercicio fiscal, con un CAGR de 5 años del 44.4%.
Márgenes de los últimos 12 meses: margen bruto 85.8%, margen operativo -8.5%, margen neto -5.0%.
Al precio actual de $47.30, GTLB presenta beneficios negativos (P/E no significativo) y un ROE del -5.51%. La capitalización bursátil es de $8.0B.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $81.2M | $152.2M | $252.7M | $424.3M | $579.9M | $759.2M | $955.2M |
| Coste de Ventas | $9.4M | $18.5M | $30.0M | $51.7M | $59.7M | $85.1M | $120.7M |
| Beneficio Bruto | $71.9M | $133.7M | $222.7M | $372.7M | $520.2M | $674.1M | $834.5M |
| I+D | $59.4M | $106.6M | $97.2M | $156.1M | $200.8M | $239.7M | $274.6M |
| Generales y Administrativos | $140.9M | $241.0M | $254.4M | $427.9M | $506.8M | $577.2M | $630.4M |
| Gastos Operativos | $200.2M | $347.6M | $351.6M | $584.1M | $707.6M | $816.8M | $905.0M |
| Beneficio Operativo | -$128.4M | -$213.9M | -$129.0M | -$211.4M | -$187.4M | -$142.7M | -$70.5M |
| EBITDA | -$128.4M | -$213.7M | -$157.9M | -$172.2M | -$157.9M | -$74.8M | -$36.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$129.5M | -$189.4M | -$159.1M | -$177.8M | -$164.4M | -$85.8M | -$48.1M |
| Impuestos | $1.2M | $2.8M | -$1.5M | $4.0M | $265.1M | -$76.7M | $10.5M |
| Beneficio Neto | -$130.7M | -$192.2M | -$155.1M | -$173.4M | -$425.7M | -$6.3M | -$56.0M |
| BPA | $-0.99 | $-1.45 | $-1.06 | $-1.16 | $-2.75 | $-0.04 | $-0.35 |
| BPA Diluido | $-0.99 | $-1.45 | $-1.06 | $-1.16 | $-2.75 | $-0.04 | $-0.35 |
| Acciones en Circulación (Diluidas) | $132.5M | $132.5M | $144.7M | $148.4M | $154.3M | $160.6M | $165.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Ingresos | $244.4M | $260.4M | $264.2M | $286.3M |
| Beneficio Bruto | $212.1M | $225.4M | $226.7M | $240.6M |
| Beneficio Operativo | -$12.4M | -$5.2M | -$15.7M | -$56.9M |
| EBITDA | -$4.1M | $3.5M | -$240000 | -$39.3M |
| Beneficio Neto | -$8.3M | -$2.6M | -$5.0M | -$36.8M |
| BPA | $-0.05 | $-0.02 | $-0.03 | $-0.22 |
| BPA Diluido | $-0.05 | $-0.02 | $-0.03 | $-0.22 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $343.3M | $282.9M | $884.7M | $295.4M | $288.0M | $227.6M | $229.6M |
| Inversiones a Corto | 0 | 0 | $50.0M | $641.2M | $748.3M | $764.7M | $1.03B |
| Cuentas por Cobrar | $24.8M | $39.7M | $77.2M | $134.3M | $178.5M | $278.5M | $321.2M |
| Inventario | 0 | 0 | $39.6M | $49.1M | 0 | 0 | 0 |
| Activos Corrientes | $384.5M | $348.5M | $1.05B | $1.12B | $1.28B | $1.34B | $1.66B |
| Inmovilizado Material | 0 | 0 | $3.3M | $6.8M | $3.4M | $4.4M | $11.8M |
| Fondo de Comercio | 0 | 0 | $8.1M | $8.1M | $8.1M | $16.1M | $17.4M |
| Activos Intangibles | 0 | $797000 | $6.3M | $3.9M | $1.7M | $17.8M | $9.8M |
| Activos Totales | $391.8M | $362.6M | $1.09B | $1.17B | $1.32B | $1.40B | $1.72B |
| Cuentas por Pagar | $1.7M | $3.1M | $5.0M | $5.2M | $1.7M | $7.5M | $9.2M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $77.8M | $127.2M | $241.6M | $306.3M | $677.2M | $545.0M | $652.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $526.6M | $593.8M | $292.2M | $344.5M | $715.0M | $578.0M | $686.5M |
| Reservas | -$206.0M | -$398.2M | -$553.3M | -$725.6M | -$1.16B | -$1.17B | -$1.22B |
| Patrimonio Neto | -$134.7M | -$231.2M | $774.9M | $771.0M | $559.8M | $775.9M | $990.7M |
| Deuda Total | 0 | 0 | 0 | $1.1M | $410000 | $392000 | $187000 |
| Deuda Neta | -$343.3M | -$282.9M | -$934.7M | -$935.5M | -$1.04B | -$992.0M | -$1.26B |
| Capital Circulante | $306.7M | $221.3M | $810.2M | $811.7M | $607.3M | $791.3M | $1.00B |
Balance (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Caja y Equivalentes | $224.2M | $229.6M | $335.4M | $226.5M |
| Activos Totales | $1.57B | $1.72B | $1.71B | $1.66B |
| Pasivos Totales | $602.8M | $686.5M | $674.1M | $690.3M |
| Patrimonio Neto | $922.7M | $990.7M | $985.2M | $925.5M |
| Deuda Total | 0 | $187000 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | -$130.7M | -$192.2M | -$157.6M | -$181.8M | -$429.5M | -$9.1M | -$56.0M |
| Amortizaciones | 0 | $222000 | $1.2M | $5.6M | $6.5M | $11.0M | -$142000 |
| Compensación en Acciones | $40.9M | $111.8M | $30.0M | $122.6M | $163.0M | $185.9M | $215.0M |
| Cambio en Capital Circulante | $17.4M | $11.9M | $22.6M | -$43.5M | $242.3M | -$291.7M | -$8.5M |
| Flujo de Caja Operativo | -$60.2M | -$73.6M | -$49.8M | -$77.4M | $35.0M | -$64.0M | $232.9M |
| Inversiones (CapEx) | 0 | 0 | -$3.5M | -$6.1M | -$1.6M | -$3.8M | -$10.8M |
| Adquisiciones | 0 | 0 | $26.1M | $61.7M | 0 | -$20.2M | 0 |
| Recompra de Acciones | 0 | -$820000 | -$590000 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$60.2M | -$73.6M | -$53.4M | -$83.5M | $33.4M | -$67.7M | $222.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Flujo de Caja Operativo | $31.4M | $45.8M | $149.2M | -$3.1M |
| Inversiones (CapEx) | -$3.0M | -$4.0M | -$2.4M | -$213000 |
| Flujo de Caja Libre | $28.4M | $41.8M | $146.8M | -$3.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $51.7M | $53.2M | $50.1M | $75.0M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +87.3% | +66.0% | +68.0% | +36.7% | +30.9% | +25.8% |
| Crecimiento Beneficio Neto (anual) | | -47.0% | +19.3% | -11.8% | -145.5% | +98.5% | -784.5% |
| Crecimiento BPA (anual) | | -46.5% | +26.9% | -9.4% | -137.1% | +98.5% | -775.0% |
| Cambio en Acciones (anual) | | +0.0% | +9.2% | +2.5% | +4.0% | +4.1% | +3.3% |
| Crecimiento FCF (anual) | | -22.3% | +27.5% | -56.5% | +140.1% | -302.5% | +427.8% |
| Margen Bruto | 88.5% | 87.9% | 88.1% | 87.8% | 89.7% | 88.8% | 87.4% |
| Margen Operativo | -158.0% | -140.6% | -51.0% | -49.8% | -32.3% | -18.8% | -7.4% |
| Margen EBITDA | -158.0% | -140.4% | -62.5% | -40.6% | -27.2% | -9.9% | -3.8% |
| Margen Neto | -161.0% | -126.3% | -61.4% | -40.9% | -73.4% | -0.8% | -5.9% |
| Margen FCF | -74.1% | -48.4% | -21.1% | -19.7% | 5.8% | -8.9% | 23.2% |
| Tasa Impositiva Efectiva | -0.9% | -1.5% | 0.9% | -2.3% | -161.3% | 89.4% | -21.8% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-0.45 | $-0.56 | $-0.37 | $-0.56 | $0.22 | $-0.42 | $1.34 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $132.5M | $132.5M | $144.7M | $148.4M | $154.3M | $160.6M | $165.8M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -5.51% |
| Rentabilidad sobre capital invertido | -9.02% |
| Rentabilidad sobre activos | -3.17% |
| Margen bruto | 85.75% |
| Margen operativo | -8.55% |
| Margen neto | -4.99% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 2.41 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 5.19 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | -104.94 | -71.65 | -60.39 | -42.59 | -25.86 | -1819.00 | -99.94 |
| P/VC | -102.15 | -59.53 | 11.96 | 9.51 | 19.60 | 15.06 | 5.85 |
| P/V | 169.46 | 90.45 | 36.67 | 17.28 | 18.92 | 15.39 | 6.07 |
| Margen Bruto | 88.5% | 87.9% | 88.1% | 87.8% | 89.7% | 88.8% | 87.4% |
| Margen Operativo | -158.0% | -140.6% | -51.0% | -49.8% | -32.3% | -18.8% | -7.4% |
| Margen Neto | -161.0% | -126.3% | -61.4% | -40.9% | -73.4% | -0.8% | -5.9% |